Jindal steel might be next metal stock after JSW steel which can give good gain in coming days as metals are performing well.
Currently trading at 202, if breaks 204 and sustains swing buy can be initiated. SL to kept at 196 for the target of 217 (gap border), 230 (trendline resistance).
Escorts like any other auto stock is on a strong uptrend. But now it shows signs of possible pullback. Reasons:
1) Upper line of the channel.
2) Evening star candlestick pattern.
3) New high not accompanied by high volumes.
TGT: 1200 SL: 1312 (High of the red candle)
-a buy confirmation was there but market -(24-9-2020) was not in favour , it was 1 % down already
simple strategy with with simple price action thoughy
HIGH AND LOW OF FIRST CANDLE IS NOT THE SECRET
RVNL has been trading near the channel support level and it has formed Doji candle in the last session. A Doji candle in the downtrend signifies bears might be running out of strength. If it gives a breakout with Good volume, a potential upmove is implied.
Nifty - Technical Analysis:
-Nifty was down 193.60 points or 1.68% at 11333.90.
-Price below the trendline and made a new low after previous Monday.
-Nifty could not revive the gap-down and closed low forming a doji. Resistance level at 11450. Further selloff to 11250 exptected.
Market - Driving Factors:
-All the sectoral indices ended lower with metal index down...
SRF gave breakout on 18Aug and next day formed a doji. But,it succeded to hold the level of (4270-4260). Looking still positive, good buy above 4330 for upper targets
Strong trendline support
Each time it came near trendline it took to support, formed a Dragonfly Doji candle, and then reversal happened.
Points to consider
1. Strong trendline support
2. Dragonfly Doji
3. 50 SMA support
4. Price rejection near the trendline.
5. Limited risk
Buy Above sustaining of previous day high.
Target 1455/1480
Wait for the...
Bharti Airtel is in very crucial zone with a perfect doji.
if sustain above doji high then 600+
if sustain below the doji low then 480-
More possibility is down side for two reasons:
1. Up trend Trendline breakout
2. Upper wick of doji is longer then lower wick
NSE:ABBOTINDIA has retraced 61.8% of its rally. The stock gave a #Doji reversal confirmation 2 sessions back and moved to confirm the reversal of the downtrend. Currently the stock has moved up to its resistance level and and same can be seen from falling bullish volume.
Tomorrow will be important to watch to see if it breaks the resistance or not?
We expect the...
There is a Doji on the top of the TATACOMM, so there is chance for an up trend and down trend, Wait for and take decision,because Doji indicates a indecision in the market and a chance for a trend reversal.
Disclaimer:- All chart analysis I publish are educational and information purposes only.
The stock rebounded from 50 DSMA.
I expect the stock to have another Doji between 100 DEMA at 112.7 which has acted as a strong resistance and 50DSMA at 107
Follow ORB in the direction of NIFTY for the aforesaid targets.
A clear break above 113 on the hourly chart should open significant upswing! Beware of Bull Traps though. Check for confirmation.
I don't think of it going much below 3200 , Currently in a bullish channel making doji on the support zone , must move to new high in channel which is 3800 zone, good risk to reward ratio .
Happy trading :)
Complex charting does not make money . :)
Everyone draws their support and resistence lines differently, this is my channel of support and resistence. As long as multiple buttoms and tops touch the channel, it's as good as anybody elses guess.
What's important is to look at where this price is compared to the previous weeks candle. The fibonacci I drew is from the Low to High of last week. So these fibo...
