TCS gave a BO of trendline today, also formed a cup and handle pattern near all time high levels. In past it had taken beautiful support from gap on multiple times. Sustaining above neckline can make newer ATH levels in coming days. For educational purpose.
Banknifty got stuck in a consolidation zone . the way it kept recovering from days low and getting stuck in upper resistance makes a break away GAP high probability on Monday
A breakaway gap occurs when the price gaps above a support or resistance area, like those established during a trading range. When the price breaks out of a well-established trading range...
Nifty opens gap up yet another day and is up 75 odd points. So is it time to celebrate or time to be cautious???
Lets look at chart set up
In the chart we observe
- Nifty Breakaway Gap up
- Nifty Continuation Gap up
- today's yet another Gap up opening could potentially turn out to be an Exhaustion Gap
So it would be wise not to get too...
If you are an investor, make sure you do not get bull trapped at ridiculously high levels. There will be a correction and profit booking soon because clearly Nifty is in an overbought zone.
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although its a gap there which need to fill but i see it shall take some time , and even if it fill it will not go one way down (leat possiible) thus will be happy to go long on dip for temporary 5% gain
The stock is likely to emulate the rally that happened by taking support ₹565 post confirming a run-away gap in early April. After forming a fresh gap-up last week, the stock holds on to it and the scrip is in a position to establish another leg of uptrend and form fresh all-time highs.
There are significant number of stocks which have moved up in hurry creating gaps on their way up...
These gaps are real concern and can act as one area where these stocks can fall to. Also such gap is there in nifty
Do not buy into this rally.. it looks like a bull trap which is very common in all bear market corrections.
If technical analysis works, I can not think of a stronger sign for a big down move very soon..
1. Price corrected till golden fib 61.8% level and came down sharp in daily chart
2. It also coincides with the 200 EMA in daily chart.
3. Upward rally is not...
On 20 May we had recommended this idea as cash buy for a target of 97.5 & above 98 for extended target of 102 / 104.
- first we observed Vedanta trading in upward channel highlighted by the blue lines
- we got further cues from trading pattern observed at the green gap zone