We created a parallel channel by looking at market pivots that have lines (a), (b),....(e). If look at this chart and drawing minutely, then you will found that where are maximum points(dots). That is called gravitation to attract the price value. In the future, while the pullback price tries to test this line in the coming days. Fibonacci ratio, Many traders...
Parallel channel with gravitation on the weekly chart-: If you see the price between line (b) and (c), you will note that price is trading longer time into this area. Presently, the stock price is the (d) or value low which is support. ---------------------------------------------------------------------------------------------------------------- confluence...
I am not going to write here anything.
resistance 10417-433 support 9939-62 which is at good level or good retracement
Stock is trying to build a base at around 335-340 levels, which is also 61.8% of the entire bull run from 243 to 486. So it could be a buy at current levels or on intraday pullbacks, as one likes. The Stop would be below 335. Strategy : 1) The stock bounces from this level -- In this case partial profit would be taken at 362 so that even if the stock reverses...
Shorting Nifty Now ?? That too in this Bull market ??? Yeah... If they get aligned and validate My rules I have no hesitation to short the Nifty. I'm looking at few rules I have, (i) Fib level reversal ( Yes) Golden Ration 61.8% in Resistance zone (ii) Resistance zone - Yes (iii) Fib extension confirmation - Yes Waiting for Bearish price action confirmation to...