Go Long above 955.1 for Targets of 1005.05, 1055, and 1104.95 with SL 905.15
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.382 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.382...
Go Long above 418.75 for Targets of443.5, 468.25, and 493 with SL 394
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.618...
Last week, Tata Motors violated the 20 day EMA. Today, after breaching the 50 day EMA, the stock price rebounded and closed the day above it.
As per the chart structure, 451 at 50 day EMA and 434 at Fibonacci level can act as a good support and rebound zone.
Support at around 100 day EMA and Fibonacci retracement level around 402 if it breaks 434...
risk: Reward ratio is 1: 2
Rest as per Charts
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at...
Axis bank has fallen 12% even after good result .The stock can make up move provided if bank nifty is positive. Here is my analysis
1)Double bottom pattern .
2)Lower low level not taken out & consolidation is from few days.
3)Good risk reward ratio
4)Trend might change if Lower High is taken out of fib level of 0.236.
5)Analysis is of 20 to 30 points and for 2 to...
NIFTY forming double bottom pattern near 18050 level. It indicating reversal sign in NIFTY. Once it gives breakout of it's neckline level then possible we will get 18580+ target in nifty according to the chart pattern.
Weekly market reach the fib extension 1.
In day tf market form a DT and also market broken the DT. it indicates short term market in sell trend.
when market retest the braked support then we can go for sell
Tata motors has formed double bottom pattern and trading around neckline. A retest in neckline area would be ideal entry point and confirmation. It can move further north in upcoming days if nifty stays green.
(Education Purpose. Consult your advisor before taking trades)