According to Dow Theory, the bull markets are trade with three distinct phases, which are self-repeating. These are called the Accumulation phase, the Markup phase, and the Distribution phase. Initial 2 phases we seen 2 time repeating on the nifty's bull rally. Now we need to focus on 3rd phase which can be distribution phase after this 2 cycles....
USDINR DOW theory Weekly View from Monday 14Jun2021
Uptrend in Daily Timeframe
USDINR has broken out of a triangle/flag pattern
Retest of the same is expected to go higher.
However, gap up possibility is also considered, if this happens we are super bullish on it if it stays above the gap for at least an hour.
Details given on the chart.
Happy Trading !!!
Nifty broke our bearish DOW theory and made a HH (higher high) than previous LH (lower high)
If this bullish DOW theory has to continue, expecting a HL and then continue upwards. Cautiously Bullish view here.
Though if on a broader outlook, it has not crossed high and we can consider today's high as Lower high compared to yesterday's High.
So, on broader view, it...
Hello guys toorrow banknifty ll mostly bullish, as its forming pole n flag pattern which bullish pattern or some may called it Dow theory ,its shows uptrend sign,also RSI is above 65 level .if it in morning breaks 35457 level it ll may go upto 35830-35850 level.
this analysis is for education purpose .trade on your own risk.
Current Market Price : 358.45
Accumulate Between 378.40 to 353.50
Target 1 : 400,
Target 2 : 500,
Target 3 : 600+
Stop Loss : 310
Time Frame : Within 90 Trading sessions roughly as per Technical Analysis Principles.
Logic behind this idea:
Higher Highs and Higher Lows formations as per DOW Theory, It is long term Bullish
Risk is Yours...
USDINR was in a downtrend with Lower highs and Lower Lows
However, today it formed a hammer at the bottom in daily time frame, which could be a bullish reversal sign
Also, in hourly time frame we can see, it is changing its DOW theory.
If it breaks the bullish flag, more upside possible. 1st target 73.32 / 73.40
else I will wait for bearish bet below 73. till then...
Adani Transmission Limited
hourly sell near 296 small stoploss 301 takeprofit 286
Disclaimer: The chart provided is only for educational purpose and not a trading recommendation. Consult your financial advisor before taking the trad