The stock has been trading in the range for past 200+ days and has started to show the signs of strength and these are:
1. A quick bounce from the support taking out the short term resistance of 1070.
2. Volumes have stated to increase showing the bullish sentiment among buyers.
3. The gap between 21-day and 50-day EMA has been reducing.
Why this time the...
CHANNEL PATTERN :- It is nothing but a formation of two almost parallel lines between which the stock oscillates.
Channel can be of 3 types : 1) Horizontal Channel 2) Rising Channel 3) Falling Channel
It is a constant fight between bears and the bulls and victory is decided by the breakout or breakdown of the channel pattern.
Bulls wins the fight if breakout...
Hi
Its been a while since my last post. In this post I have represented selective candlestick reversal patterns.
In a candlestick, "body" represents the distance between candle OPEN and CLOSING price. Whereas "wicks" represent the entire range of the candle from TOP to the BOTTOM.
In most of these patterns only bodies are important. There are no conditions for...
RSI Divergence refers to the deviation of RSI with respect to price. Even though the price may be going in a set direction (say making lower lows), the RSI could go in a completely different direction (higher lows). RSI is a clearcut indicator of buyer strength or buyer accumulation at a specific given time and price. An RSI Divergence generally is strongly...
Flag and pole is a bullish pattern. I it breaks the channel upside stock price makes a new high. But if it breaks the downside then it will no good breakout.
How flag and pole pattern work:-
Flags are areas of tight consolidation in price action showing a counter-trend move that follows directly after a sharp directional movement in price. The pattern typically...
For the purpose of explaining the combined use of these indicators,
I have taken the example of TCS - TATA CONSULTANCY SERVICES, which recently gave a clear breakout.
Know your Lines! - By joining the recent highs and recent lows of a share price, we can identify if the share has a well tested Support & Resistance or not. I prefer those with a clear defined...
HAPPIEST MINDS
Chart Structure:
- Stock is in a continuous uptrend.
- Stock took a breather of 13% after a 58% up-move.
- Currently stock is consolidating at a 10% range.
Volume:
- Stock trended up with huge volume activity.
- During consolidation around 40 lac shares were delivered from 23-29 July. All days delivery is above average.
- On 20th August, there...
In ICICIGI, Bullish MACD crossover on daily timeframe indicating reversal sign in this stock. Also, This trading near support level of ascending triangle pattern and 200 EMA. Expected this will give upside rally upto 1600+ level in upcoming few trading session.
Possible Trade:
Buy ICICIGI @1470-1480
Stop loss - 1400
Target - 1600+
I get a lot of questions about Elliott Wave but a particular question often received from the followers:
Where to start wave counting on the chart?
How do I begin/start wave counting on the chart?
How do you do Wave Counting?
I’m going to introduce working 3-tricks which are used by me while establishing Elliott Wave Counting on a chart. These are my...
This Short Video Talks about Auropharma / HDFC & shall wind up with update on Nifty Index. Important support levels - 16542 / 16475
Thanks for watching the video.
Everything has been explained thoroughly in the chart. If you have a comment related to price action/Fibs/Trendlines it will not be replied to. This is meant to be a tutorial for semi-systematic traders only.
I have hidden my Keltner channel indicator to reduce an already cluttered chart but it has a very important place in my trading system. I hope to explain it...
I believe, there are no bulls and bear in the market, there are just stock operators. These operators are the people/institutions with the big money and resources to take stock from point A to B and then back to A.
Read below in your free time to understand, how operator runs stock, trap retailers & how they generate profits. And in the whole process, how and when...
A pennant is a small symmetrical triangle that begins wide and converges as the pattern matures (like a cone).
Here is an example of IEX.
The company has declared a good set up of numbers on 22nd July.
Profit after tax is up by 48%
Sales are up by 36%
The price is now hovering near the previous Resistance which now acts as a support
Tight price range near the...
This video discussed a bearish harmonic pattern that might be quietly sitting & hiding in the price structure if unfolds exactly holding below 16701.85 then the downside support could be 16510-16530 / Below 16500 for 16370-16390.
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Last Nifty Video Idea
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Hope you enjoy the video. Good...
The quality of our life depends upon the quality of the question we ask.
I think it's the same with trading also, successful traders ask better questions, and as a result, they get better answers. They get answers that help them to know exactly what to do in any situation to produce the results they desired.
Below are the 5 questions that will help you to stay...
The Symmetrical Triangle is usually a continuation pattern. It represents a pause in the existing uptrend after which the original uptrend gets resumes. A breakout from the upper trend line marks the continuation of an uptrend while a breakdown from the lower trend line marks the start of a new bearish trend . This pattern is also known as a wedge chart pattern.
...
Look for Low risk, High reward, and High Probability setups. – Richard Weissman
Scenario
Many traders get destroyed by fighting the trend, insisting that the market is due to reverse itself or they try to chase the market. They may try to catch short-term countermoves in hopes of making a few quick points, or they may always look to catch tops and bottoms in...
