The stock has formed perfect pennant pattern and gave breakout with gap and good volume. It is trading below the trend line clearly telling more weakness in coming days. One can short the stock for a target of below 925.
So harmonics works this time ? Our Morning Bull run over in Nifty...
White candlestick followed by a Doji with a gap up at the opening formed bearish Doji Star(on 29.03), which gave confirmation yesterday. RSI is telling the stock is in oversold zone and running out of stream. Moreover there is possibility of trend reversal which is quite often after forming 5 pivots but that needs confirmation yet. One can short the stock by...
DLF was moving up since 27.12.16. It has broken Regression channel that too with GAP. This gap zone may work as a Resistance. Aggressive Trader can take the last 2 Green bar as an opportunity to enter the short trade by providing suitable Stop Loss. Defensive Traders can wait and short the stock when it trades below the bar which formed the GAP i.e. below 137....
Will Bank Nifty follow the Nifty way to fill the existing GAP ? If yes, then bear will takeover the Bank Nifty also. Trade: Short below = 18797 Target 1 = 18709 Target 2 = 18552 Target 3 = 18440 Stop Loss = 19002 Reward Points = 540 Risk Points = 205
* Dumpling Top * 50% Fib retracement * Gap at play * Negative crossover on Stochastic * RSSI sloping southwards
It is been observed on the hourly chart that the price action went up sharply to cover and fill previous gap down levels at 7970-80 levels and now facing resistance at current levels. If it closes above the resistance levels or the Gap levels then it may further go up or if it closes 7950 levels then it shall again go further down.
It is been observed that the price action formed a gap down situation in yesterday trading session, created a gap around 8680 levels, which may be filled by it today as the price action pushing toward the that gap zone at around 8660-8680 levels. Target: 8680 Stoploss: 8580
It is been observed that the price action breaks out from the consolidation between 5765-5635 levels on hourly chart and now it is heading towards the previous Gap Up to fill the gap. Target: 5500 Stoploss: 5700
For now, it seems like the price action shall take up prices to previous support level and will also fill up the Gap. The further price action will be decided once the gap is filled. Now it is important to note the price action whenever the prices touch previous support as high selling is expected at that levels which might take prices further down.
The price action has just completed the previous Gap and now it may reverse from the current levels and moving up to reach out for 49 levels again. If it breaks out from current levels, then we might see 46 levels. Take a good watch and it is ideal time to get it at minimum risk.