#Ashok Leyland Good Move AheadStock is near to BO zone post downward move with massive volume buildup on daily chart, follow chart for proper support and resistance levels.
Intraday-tips
RELIANCE Wait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the pullback.
6. Don’t chase the market.
7. Don’t fight the market.
8. Even in the strongest trends there should be some retracement.
9. The closer the market is to the trendline, the better the risk/reward ratio is.
10. Use ADX to determine the strength of the trend.
11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy
12. Hold trades longer in a strong trend.
13. Wait for confirmation of a trendline breaking before reversing position.
14. Know where the Support levels are.
15. Place stops outside the Support levels.
Thank You..
Short-Term view for NIFTY spot. Minor trend-line R 9491 - 9509
The over-consumption has been upper bound of value area, therefore chance to over-consumption at lower bound.
There is no overparticular resistance 9500+.
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339p GAP
This is " Common Gap " price is not going to break support line.
Previous minor resistance at 9405. Nifty is going to open nearby this resistance ( 100+ nearby ).
Support line price area support at 9241.
RELIANCE UPSIDE NOT QUANTIFIED, FALL JUSTIFIEDTechnically, Reliance is in a downtrend still. Given the 2 news updates on 21st and 22nd April, 2020; the stock has shown Bullish Divergence but the %Delivery against the Traded Quantity stands at 23% which indicates an Unstable Upswing. This also coincides with Harmonics PRZ (not highlighted on Chart) range of 1360-1390
22/04/2020 Closing 1363 Spot. Little Upside Steam Still Left in Reliance upto 1385-1400 range.
Short at 1370-1400 Range with SL as 1440 for Huge Downside Targets
Note: Any views expressed here should not be relied upon as advice or construed as providing recommendations of any kind. Strictly for Educational Purposes. All trading strategies are used at your own risk.
