After a strong downfall banknifty is forming island reversal pattern,
35630 is a crucial level where the real strength of banknifty will be tested.
Both, RSI and MACD is supporting the up move.
Long banknifty above 35640 for target of 35780 and 37150 with sl at 35550.
First of all,
This is my first Island analysis.So I know there are so many mistakes.Anyone who knows about it can comment below.Anyway, I am trying to do better.
And, u guys can see it's not completed yet(Island).So we want to wait.
#copied 👇👇
In order to confirm the Island candle pattern, you should discover three symptoms on the chart:
1.The stock gaps in...
Trading Strategy
Selling Below 8950 / 8980 - Downside Targets - 8800 / Below 8800 - The Final Target - 8700 which completes the video selling target of 1000 Points right from the top @ 9600
Last Video Idea
Selling The Channel Tops at 9850
Tata Motors
Observations
- Last year on 31-May-2016 the stock opened with a significant gap up & closed at 459 up 38 points from its previous day close of 421
- This year On 8-Aug-2017, the stock opened significantly lower and closed at 380 down 36 points from its previous day close of 416
- the gaps have occurred from similar levels 421 and 416 respectively...
