reversal & start of new uptrend.down channel broken and new uptrend began with higher high and higher low.
Higherhigh
Bajaj Auto : Ready for HoodiBaba Ride !!Bajaj Auto has given first indication of bull run when it closed above 2900 on weekly basis which started higher top higher bottom series. Counter has corrected after touching high of 3050. 38.2% retracement of entire rally from 2450 -3050 comes at 2825. 2810-2825 zone should provide support for next bull run. Stochastic has entered into oversold zone but yet to turn bullish. Opportunist can buy at 2825 with stop loss below 2720 for target of 3200. Trend follower can wait for reversal on stochastic and ADX.
!!NIFTY BOUNCING FROM THE TRENDLINE!!ACCORDING TO ME TRENDLINE IS VALID
WITH THREE TOUCHES IT CONFIRMS THE SUPPORT
ABOVE THAT WATCH THAT:
THERE IS A HIGHER HIGH AND HIGHER LOW FORMATION GOING
ON THE INDEX A DIP BEFORE BIG EVENTS ARE GIVING US AN
INDICATION WHERE THE MARKETS ARE MOVING
I DONT WANT TO SPECULATE
ONE CAN GO INTO THE EVENT BY CREATING
A VOLATILE OPTION STRATEGY
BUYING A STRANGLE IN OPTION INDEX
SAME OPTION AVAILABLE ON THE BANKNIFTY
EQUITAS Holdings - HH HL formationHH = Higher high
HL - Higher low
Long above prev day high
Sl = prev day low
Target 1 - 163.3
If it breaks 163.3 it can go up to 170
