It is been observed on the daily chart that the price action firstly forms a double bottom at 1140 levels and then went up and breaks above the previous resistance of 1215 levels. Then it consolidates in a downward channel or flag formation and now it has broken and closed above the channel/flag indicating further bullish move ahead.
Target: 1250
Stoploss: 1200
BankNifty analysis is going to be real simple one. Bearish Flag formation, so what an ideal bearish flag will do ?! Breakout to downside. There are few things we need to take note here. The first one being the Bearish flag ( which I didn't enter yesterday) so if the shark is working then it will move up a little bit and today being expiry day, if a double side...
Nifty is making a Flag Pattern which is coming near the lower trendline with MACD Divergence.. I would expect the price to go higher from there which gives a potential buying opportunity.. If it break the Flag upper trendline line then My Markets are at the all time highs around 9120. However, if it continues to go lower then I would wait to see what pattern is...
It is been observed that the price action is been forming flag patterns on daily chart, and successfully breaking out from them and reaching to measured moves targets. It is wonderful to see how nicely it respects breakout. In current scenerio, 514 shall act as crucial support. The price action shall move below and close below 514 levels to further go down....
It is been observed that the price action ranging in a channel or a flag consolidation where it breaks out on an hourly chart, indicating further bullishness. It shall provide a high potential returns once it closes above 225 levels. (refer to the educational series to estimate targets)
Target 1: 232
Target 2: 240
Stoploss: 220
It is been observed that the price action is trending up, making new higher highs on weekly chart. It is also observed that price action breaks out from a rectangle shape flag pattern. (When the price action breaks out upward against the downward sloping rectangle consolidation pattern confirms a flag pattern breakout).
As per the flag pattern, the targets are...
I'm not trading this setup , so please check your plan n rules if you are going to trade. There is reason why I'm not trading Tatasteel. I have shared around 250 ideas in total I guess but none of them will be on Tatasteel. This particular scrip is on Love n Hate relationship, bcos whenever I trade, it will hit my stops (Yes, It happens & its called Luck ). So I...
