Since the rise from 9455 to 10137 levels Fibonacci levels have played a vital role is identifying key support & resistance levels...
Levels------------------------------------ Fib retracement-------------------------- Fib Level
- closing low at 9710----------------- 61.8% of 9448-10137 -----------------------9711
- high of 9947...
Chart is pretty simple...
Nifty has been trading in the up trend channel since March 2017
Currently it is at the upper end of the channel...
Rest explained in the chart...
Plan your trade accordingly...!!!
Take care & safe trading...!!!
- 20 day EMA crossing below 50 day EMA
- 122-124 important resistance level
- 112-108 important support zone
- below 115 Head and shoulders pattern starts getting stronger
- Probability of the stock going lower increases if it takes out 112-108 levels
- Target zone for the pattern 94 / 86
- View gets invalidated if stock...
Observations from chart:
- the stock has given a breakout & has come out of ascending triangle
- consolidation phase within triangle is of nearly 10 months in 1st chart
- this is generally a low volume stock with occasional spikes in volume
- MFI & RSI are currently in overbought zone
-- in the...
By IDEA at 92.35 target 127.9 sl 80.
There's strong Bullish Engulfing pattern formed in weekly chart. This's such a good time to enter IDEA. Because this's now moving after deep correction, consolidation and volatility . It has closed above the middle band of Bollinger Bands and the RSI and Volume also looks very positive stock catching. Things looks like an IDEA...
It is been observed on the hourly chart that the price action is forming a continuation pattern after breaking downward channel pattern.
It shall be a good opportunity to take a part in it once it closes above 93 levels.
I shall update the targets later.
Stock price has reached its long term support of multiple historical bottoms placed around 555 on the weekly chart
RSI is placed around 40 and showing some strength.
Stochastic oscillator has reached oversold zone and just crossed its signal line upside, indicating the chances of bullish trend reversal.
Stock is on the verge of forming bullish engulfing...
Have projected my views on the chart itself...
It is the downtrend in VIX which is helping push / maintain Nifty in the upward direction...
Keep a close eye on Volatility index as it may be an early indicator to signal a reversal in market.
And if VIX starts moving up towards 24 some time later this year (it has tested 24 levels each year in the last 5 years),...
The RSI is placed at 37. It is bounced back from 31 levels and showing some strength.The 200 DMA is Acting as Resistant. Stock has Tried to Break the 200 DMA Resistance few days back and Failed to Break it. It is going to Test the 200 DMA as the RSI is indicating a Support at 37 which is bounced back from 31 levels. So one Can Initiate LONG on IDEA at CMP for a...
Apollo tyres CMP 222
The stock is today giving some signs of reversal from trend line resistance.
One may consider
selling Apollo Tyres April series
Lot size 3000
Strike Price: 230
Margin requirement: Rs 96000/- approx
Max profit potential Rs 10500 /- per lot
Thats a potential of 10.9% on margin amount
Holding period: till 27th...
A Bullish Harami Cross pattern has been observed in daily charts of ONGC stock.
It is a good bullish reversal pattern, which is even more significant than a regular Bullish Harami.
1. The market is characterized by a prevailing downtrend.
2. A red body is observed on the first day.
3. The Doji that is formed on the second day is completely...
Whoever missed the Idea spike up recently, Idea is at 50% - 62% retracement fibonacci buy zone.
The 60 min chart shows a hidden bullish divergence on RSI with a bullish MACD crossover in this zone. The stock is finding support at this zone.
Aggressive traders can enter long at the current support level.
Conservative traders, enter the trade at the break of...
CMP - 100
This is a direction-neutral strategy. I used it previously too. ( see in related idea )
Here I am buying,
95 PE - 3.5
105 CE - 3.5
Why ? Because it has moved a lot and I am expecting it to move further.
Caution : Experts do due diligence. New traders can look into this and paper-trade.
Its seems like a second pullback after Idea-Vodafone merger. If the price goes up on the coming days with considerable volume - its a LONG opportunity; however keep the stoploss just below the trend line.
After a strong move and a consolidation face IDEA has formed a FLAG pattern. Now the prices have given breakout from it and likely to move up till the height of the Pole. So the target for the script could be around 150 or levels
It is been observed on the hourly chart that the price action consolidated within a channel or flag formation and now it has broken above the channel and moving towards the next resistance level.