HINDPETRO LOOK GOOD TO BUYHINDPETRO broke the resistance and trading above that zone and we can see the buyer holding the level but don't take trade on support resistance only, closely watch the price and once we see full control of buyer take trade with small sl and in this case there is a local trendline in place wait for break of this trendline with momentum.
Momentumstrategy
DAILY MARKET OUTLOOK AND POSSIBLE SETUPSWe have seen some possible setups in the market, So I have decided to share my some knowledge to other traders who want to understand price action analysis and I suggest to the new trader to do not make analysis more complicated, make it simple. I hope it will help and this video is for education purpose only, I do not recommend to anyone for buy or sell, Do your own research before trading.
AXISBANK LOOKS GOOD TO SELL IN SHORT TERMAXISBANK trading within the range(you can see in the image) from feb 2018 and buyer tried to broke the resistance zone but seller are taking control and we can see the LL LH formation,If we got clear price action signal to go short then we will attempt for sell otherwise we do not take trade,Always create a pure mechanical rule to enter and exit.
HDFC BROKE THE SUPPORT ZONE LOOK FOR SELL There is very good selling momentum in HDFC and there are two more reason for sell 1) Trendline Break 2) Support Break 3)Divergence,Now we need some buyer to push price higher and I will take trade on weakness of buyer.