Ideal entry once retest of the support of successful on EOD basis
may decide to wait this one out as all indicators extremely bullish
this could easily turn into a short trade given certain conditions met
Target - 22940
If you ask me, it looks bearish as it broke resistance and failed retest, then retested new resistance and now validated it and remains below 7330.
Earnings are also in and the emotion is bearish.
All levels in the chart.
High OI at 7000. Once that is broken, we could see price drop fast.
MFI pointing down.
I would target 6850, and trail below.
Had been waiting for this breakout
Price should hold above current support at smaller channel ceiling (confirmation)
SqzMom bullish and rising
Target 7035 - based off of the previous larger channel
SL - 6320 (smaller channel ceiling) on EOD basis
Trading in Bullish Channel
Formed Bullish Hammer
MFI has bottomed out
SqzMom has started to turn Bullish
VixFix could signal completed bottom anytime now
Looks sorted if the current trend support holds tomorrow and day after
Stop upon clear breakdown below trend support on EOD basis
Last 2 days had decent volume and price has broken support clearly and decisively.
New Range - (1430 - 1540 - 1620 - 1680)
MFI decreasing rapidly
Rising volatility (ATR), also check IV
IF breaks back above 1685 then this view will need modification.
In this Birla Corp. stock we have witnessed multiple breakouts in bullish trend for almost now a year.
This trend line is now a major support.
These are the multiple points where an investor or trader can take entry
and can efficiently plan a strategy and do money management.
And price action makes analysis simple and easy to understand and is least...
_ Vedl is in the consolidation mode right now
_ You can clearly see consolidation happening if you check the 15 min time frame
_ If it breaks up, that'll be a clear shot bullish trend
_ Let's hope that it'll be a bullish breakout
* Since the rsi and mfi are the overbought levels and also it is a clear uptrend
* High possibilities are there for the script to be bullish
* If the market starts positively then idea will continue moving upwards