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Multitimeframeanalysis

HDFC - PULLBACK STRUCTURENSE:HDFC DAY CHART UPTREND IN PLAY,HIGHER HIGH FORMTION IS CLEARLY VISIBLE POINT (1),WIDE RANGE BULLISH CANDLES WITH GUD VOLUME WHEN PRICE MOVES HIGHER POINT (2),THERE ARE FEW WIDE RANGE BEARISH CANDLE ON PULL BACKS BUT DID NOT SUSTAIN POINT (0),FORMED A NEW HIGH AFTER WHICH PRICE STARTED TO CONSOLIDATE POINT (A),IS THE LOW POINT OF THE RANGE WHICH IS THE CURRENT REF. POINT FOR PULLBACK STRUCTURE 1 HOUR CHART POINT (A) REF. LOW FOR THE RANGE & (B) REF. TOP FOR THE RANGE POINT (#1)INITIALLY PRICE STARTED MOVING DOWN WITH WIDE RANGE BEARISH CANDLES INDICATING STRONG BEARISH SEMTIMENT POINT (#2) SELLERS BECAME WEAK WHICH CAN SEEN BY THE FORMATION OF HIGHER LOW FORMATION (POINT (0)) ALSO PRICE TESTED POINT (B) FOUR TIMES BUT CANNOT GO BELOW PREVIOUS LOWS (POINT (0)) POINT (*1) BULLISH WIDE RANGE CANDLE CAN BE CLEARLY VISIBLE LOOK FOR ENTRY EITHER AFTER BULLISH CONFIRMATION CANDLE NEAR POINT (E1) (50% & 61.8%) LEVELS OR AFTER BREAKOUT (E2) KEEP AN EYE ON VOLUME IN BOTH CASES
HLong
by Arun_000
ITC: Trend analysis (Strong long bias)Weekly Time-frame: Last week ended with strong bullish candle. (Strong bullish bias) Daily Time-frame: While analyzing weekly strong bullish candle, on daily time-frame price broke the down trend-line with strong bullish momentum which signify possible trend change. 4H Time-frame: After breaking down trend-line on daily time-frame, price also broke the 50-EMA and immediate resistance zone/level with the momentum which is high confluence . Then prices made a higher high which confirms the up-trend. For conservative trading, wait for some correction i.e. pullback towards high confluence area. Conclusion: As price action on every time-frame confirms long bias, one can initiate a long trade once pullback is over with stop-loss below support zone keeping own risk to reward ratio in mind.
NSE:ITCLong
by SwapnilNemade
7
Ashok Leyland: Trend analysis (Short bias)Weekly Time-frame: After making bearish pin bar last week, this week ended with strong bearish candle. (Short bias) Daily Time-frame: Few days ago, prices made a lower high then broke the upward trend-line which signify possible trend change. For further confirmation, analysed intra-day time frame i.e. 4H. 4H Time-frame: After breaking upward trend-line on daily time-frame, prices broke the immediate support level with the momentum and made a lower low which confirms Down-trend . Then made a lower high which took resistance from same level (above support level) and also from 50 EMA. Conclusion: This price action on every time-frame confirms short bias so one can initiate a short trade with stop-loss above recent lower high keeping own risk to reward ratio in mind.
NSE:ASHOKLEYShort
by SwapnilNemade
1