Pole & Flag Break Out Of 320 Points.
Trail SL Once In Profit.
Risk Reward Favourable.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
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1) Nifty is in consolidation mode near channel support.
2) consolidation happening In previous supply zone and trying to break supply zone..
3) Nifty formed bearish flag pattern...
4) In day chart Nifty swings between .5 and .618 of FIB Levels (11627.55 to 11510), if breaks
11510 the target will be 11130 ( as per confirmation of major support of candle and...
Tata Motors, which has been already week on the back of Brexit and JLR performances has traded along a bearish Price action recently. Apparently we could observe a Bear Flag pattern which suggests a very deep drop in price. According to the pattern the stock is set to fall to 125 and that is a big 25% fall. Noticeable supports are at 160 and 152.
There is no visible RSI divergence with price, hence we should still see some lower levels for Nifty. With the flag pattern, the minimum target is width of flag marked as green on charts.
Will it form the divergence? or further continue to slide further time will tell. Stay tuned!!
Bullish Flag pattern spotted in NTPC . Pattern seems to be confirmed and hence the stock could move towards 148. Previous top at 137.5 can act as an intermediate resistance.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in...
Tech Mahindra appears weak in chart. Earlier there was a Double Top pattern and currently we could see a valid Bear Flag pulling price downwards. Now that the stock is hovering around double top target levels of 700, which also being a round number the stock might pick it as a support and perform some recovery.
However, the recovery to be considered as a trend...
BPCL breaks down after a period of consolidation. Apparently, price action is showing a Bear Flag pattern, which will be confirmed if the running candle closes below 376.40. Target of the pattern comes in at 334 levels.