CNXEnergy will be an absolute avoid from a long perspective.
One can see that the RSI is losing a lot of strength and the index is unable to make higher highs.
We have witnessed this kind of pattern during 2018,2019 and we all know what happened in 2020.
It can dupe by a small movement but one need to observe if the index is unable to make a higher high then...
The energy index looks bullish on weekly charts as there are no signs of weakness.
As the Heikin Ashi chart has been making green candles also the structure of the chart is good.
The overall feel of the chart is good.
On daily charts the price is on the bottom of parallel channel and on the same pivots.
Renko is also making a green brick.
The stock may face high...
Key highlights: 💡⚡
📊 Currently NIFTYENERGY is giving breakout of Symmetrical triangle.
📊 and 29304 is its resistance level we can see rally of around 1000 point.
📊 but into RSI level 72 is working as resistance level twice.
📊 Keep an eye on both things RSI as well as price movement.
📊 One can go for long into ENERGY SECTOR.
📊 Example : ADANIGREEN , ADANITRANS ,...
INDIAN ENERGY EXCHANGE as per Daily chart Analysis.
It has broken the previous resistance at 168 and today ADANI POWER, IEX and TATA POWER has shown good momentum and among these ADANI POWER had no seller after 1.30pm.
There should be a Good momentum for these power and Energy sectors for tomorrow.
IEX Above 175 and Target 185
Happy Profitable Trading to All...
Nifty Energy(Weekly):
1. The sector is currently in uptrend making Low, High, Higher Low and Higher high
2. Also, its taking support at trendline
3. And, another support comes at horizontal levels of 25511
4. Any closing below 25511 will change the structure of the trend
Thoughts Please?
The energy sector of our market seems to have given a breakout, it has been in a consolidation for a while now and has shown a healthy correction of 50% according to fib retracement.
The pattern it formed was an ideal flag and pole pattern which is a pattern that gives a good momentum when its broken and gives a rally of equal to it's last rally.
The RSI stands...
NIFTY ENERGY SECTOR is forming and inverted head and shoulder pattern. The sector has broken out on weekly TF. The stocks in this space can move great over the next few weeks.
Your SL in this sector would breaking of right shoulder low.
Look for stocks like Tata Power, Adani Power, GAIL, BPCL expect a good run up in these stocks.
Nifty Energy to outperform Nifty in coming days.
Both Long term and short term trend became bullish.
Very positive changes are happening in this
sector and
Charts are looking bullish .... : :)
Few stocks to track in this segment are
Power grid
Tata power
Ntpc
Coal India
PFC,REC,PTC...
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns...
3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
Hello guys i had find this selling setup in 4h timeframe which is at upper channel resistance and also broken structure we have a good opportunity to do swing trade here with above swing sl and below channel tg also plzz guys do your oen analysis before taking any trade if you like my analysis plzz like share and follow thank you
* Pullback completed in Nifty Energy Index.
*Inverted H & S pattern Breakout.
*Track this stocks from CNX ENERGY INDEX
Bharat Petroleum Corporation Ltd.
GAIL (India) Ltd.
Hindustan Petroleum Corporation Ltd.
Indian Oil Corporation Ltd.
NTPC Ltd.
Oil & Natural Gas Corporation Ltd.
Power Grid Corporation of India Ltd.
Reliance Industries Ltd.
Tata Power Co....
