Chart is self explanatory.
Ideal scenario will be a day or two consolidation at current levels which will make the momentum oscillator cool off to 78-82 range.
Post this consolidation, we may see the explosive move.
And everyone knows, an explosive move in this index means a lot for riskier asset classes.
Savndhan Rahein Surakshit Rahein
Hello Guy's, i have brought another analysis on stock which has given a proper multi year breakout on chart. Let's analyse and will see if we can do anything from this stock..
Well guy's Now a days all government stock is making new highs due to Chandrayan limelight and some government recent events..This Ptc Stock has given a huge breakout on monthly timeframe....
As per price action analysis, for educational purpose, my view on JBM AUTO has high probility to go up 15% or more within 10 days. You must study the fundamentals and other technical aspects.
Only for your eduactional purpose.
The index is exhibiting the bearish divergence on the hourly timeframe. It is already quite extended and is also now forming dark cloud cover candlestick pattern which is a bearish pattern. There is also a resistance here on the daily charts. All put together looks like a good short sell.
Analysis on 9th February 2023
-Took Support on Black Trendline. (BUY)
-ITC breakout and currently All time high. (BUY)
-Stop Loss (346.90 rs) can be low of Big green candle because, High volume breakout which is also consider as a trustworthy Move. (BUY)
-Indicators Also showing HL while Price Action is Making HH, which is Bullish Continues...
Finally , ABB Has given breakout. But the pattern is not looking very strong.
I will enter the trade, but not with full allocation.
Manage your trade accordingly.
***RESULTS CAME TODAY, and they were good***