Look at the how accurate was the response
Not only pattern completion but trendline support ,and green box is also an strong older support ,so Resopnse was genuine ,respecting lots of elements of technical analysis.
Cross verify always
11550 17 OCT 2019 CALL WRITERS WERE TRAPPED TODAY
THE UNDER GOING WAVE IS STRONG ONE BOTH FII AND DII PARTICIPATING.
LITTLE HINDRANCE THE CRITICAL ZONE NEED TO CLEARED(SHOWN IN THE CHART)
THEN ALL ROADS WILL BE OPENED UP.
FOLLOW MY CHART TO KNOW ABOUT WHAT IS HAPPENING INSIDE
LIKE MY POST IF IT IS ANY HELP TO YOU.
TREND ANALYSIS & TRADE SETUP
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Stock Market is turning around.
With all the bad news quite for while. But on technical front, after the release of MPC by RBI and considering the USDINR rate at 71.30 for analysis purpose. The rupee has started depreciating to new levels.
After breaking the levels of 71.20 -- USDINR is moving ahead for the immediate Resistance range of 71.60, 72.10 and 72.40...
The Gold has taken support above 1490 from the last three trading sessions. Therefore, this behavior is supporting the formation of Pennant pattern along with pole, in the aforementioned time frame. Hence, a trader can place a long position with a stop-loss of 1458, and 1553 as the first target. Further, the second target of 1597 can be achieved, provided it's...