VIEW ON DOW JONES
ITS FALLED TOO MUCH AND ARRIVED AT THE MAJOR SUPPORT
IN PAST THE GREEN LINE IS TESTED TOO MUCH TIMES AND ITS NOT EASY TO BREAK THE MAJOR SUPPORT ZONES,
LONG IT UNLESS AND UNTIL THERE IS NO SUCH VERY BAD NEWS EXIST
Analysis based on technical parameters(NO NOISE)
The reason for selecting DOW under elliot forecast becoz its corelation with Nifty...although future market not recommended but still...on the opening of indian market that is the only index comes into mind...what i perceive as of now dow have not broken its high post covid level however, nifty have...
Both the indices are at resistance. Red, yellow and green are M, W & daily supply/demand zones....A MAjor move is due in USA markets.
Simple Support and Resistance levels are the way I trade the price action...No indicators.
A BUY SETUP FOUND ON BALKRISHNA
BALKRISHNA , A FUNDAMENTALLY SOUND STOCK FOR MEDIUM AND SHORT TERM RETURNS
WEEKLY RESISTANCE BREAK OUT DONE AND RETESTED IN DAILY CHART FRAME
A BUY FROM HERE FOR PHENOMINAL RETURN CAN BE EXPECTED
TAKE CALL ON YOUR OWN RISK
CHECK THE ANALYSES SHARED ON TRADING VIEW AND SEE HOW THE ANALYSES WERE DONE WHICH GAVE HANDSOME RETURN
CLICK THE LINK TO SEE THE IDEA I DISCUSSED FEW DAYS BACK ON TRADING VIEW
IEX GAVE RETURN AS DISSCUSED BACK AND IT CAN ALSO BE HELD FOR MEDIUM TO LONG TERM
1. STRONG STOCK
The daily is turning up against the March lows at 18178. The 4 hour right side is up against the 6/15/2020 lows at 24430. The 1 hour is turning up against 26394. While it shows it will remain above there the index can extend higher toward 30500 in the cycle up from the March lows.
Good luck !