What is Dow theory?
The Dow theory is a financial theory that says the market is in an up-trend if one of its averages (i.e. industrial or transportation) advances above a previous important high and is accompanied or followed by a similar advance in the other average. For example, if the Dow Jones Industrial Average (DJIA) climbs to an intermediate high, the Dow...
1 HOUR CHART , PRICE CURRENTLY SUPPORT @ 50 mvwap &,PREVIOUS GAP (1960-1974).
IF PRICE MOVES ABOVE 100 MA WITH VOLUME EXPANSION,THEN NEXT RESISTANCE IS AT 2280 (POSSIBLY FORM A HIGHER HIGH/HIGHER LOW FORMATION)
IF PRICE FALLS BELOW 1916,THEN NEXT SUPPORT IS @ 1795.
Ajanta pharma during the downtrend made Lower Highs with a flat Low and thus a triangle formation.
The breakout of the triangle started the uptrend.
In an uptrend, it is following a Higher High, Higher Low formation.
During both the trends, every upmove followed by strong correction waves...
HIgher High Higher low is kind of making a parallel channel, corrective...
HLEGLAS a perfect multibagger stock which has started its journey and is going on to make new highs.
If you can take a little bit risk then you can buy it now on higher high because the sky is open and the acceleration is on.
BUY: 1800, SL: 1652, T=open target
Risk is directly proportional to Reward, high risk you take...better returns you get.
IBULHSGFIN is looking good above 227.55 and stock is preparing to go up. Once it break trend line and sustain above 227.55 level, it can show a bull run.
* Stock broken Lower low & Lower high pattern and start developing Higher high & Higher low.
* It is facing resistance with trend line. Today trying to break trend...
As expected in previous idea ( "Bajaj Finance Long" ), Stock has broken resistance line and start moving in upward direction.
There is a possibility of temporary retracement to suggested resistance line (3523). If so, you can open new orders based on price action.
* Stock was in a range and developing higher high and...