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...
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...
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 ( "Mahendra and Mahendra Finance" ), Stock is preparing to go up. Once it break resistance line (138.50), there is a possibility of temporary retracement to suggested resistance line (138.50). If so, you can open new orders based on price action.
* Stock is in a range and developing higher high and lower...
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...
Buy Cmp 3037
Reason for choosing the stop loss is that from march lows the start of the trend line its making only higher lows. So can go long when it comes close to trend line with a stop loss of previous low.
There is breakout in CDSL at the level of 290.
You can initiate a buy at current levels and wait for the targets to achieve 375.
The chart is forming higher bottoms and also there is volume addition.
The analysis has been done on weekly time frame so time to achieve the target could be 3 to 10 months.
Make sure to keep a stop loss of 275 on closing (weekly...
(FOR LEARNING PURPOSE ONLY)
While the price is clearly forming Higher Low's,struggling to form higher high's
Price still between fib 50% & 61.8%
Price will fall once it breaks the rising support line or previous higher low
Bank nifty after reaching a low on 24Mar2020.
It rallied and formed a higher low on 03Apr2020.
It again rallied and formed 2nd higher low on 16Apr2020.
PriceAction - Forming a series of higher lows, sign for an uptrend.
Good for a swing trade with reasonable Risk Reward.