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 ...
Although Upward Trendline Broken, it seems to be resuming uptrend,
Previous swing high retraced to 61.8% fib level,
Can go long above 1300, No targets, lets TSL it and exit on hitting or once it touches previous trendline,
CBSL at 1272
Nifty has made today a Bearish Engulfing Candlestick pattern...
Hope we may see downside...
It may fall upto 9530 regions... And if it brake those levels we may consider it as a channel breakdown..
Targets are 9630/9575/9535
SL : 9705
Note: Do your own study before making any position...
Please Like, Follow and Comment your views below...
TECHNICAL -It is been observed on the WEAKLY chart that the stock is forming continuous higher top higher bottom and with a uptrend line and a triangular pattern which can breakout soon, but a MULTI YEAR resistance @120.
FUNDAMENTALS -Rise in tea prices will led to higher margins and profits, with passing of GST TEA & coffee sector is going to get a huge benefits ...
Demonetization really matters?
all economist have different view. what to follow?
Follow the chart bcz a picture worth thousands words..
honest view looking at chart. recovery may be rapid also than what i shown.
its forecast only. study purpose only.