Coal India stock price has shown a nice rise of 6.39% today with good volumes. The price was trading in a falling channel, the price broke above the ABCD pattern's resistance level. This is a break-out level. The price is currently at a rejection point from where the massive fall in price had occurred in the past. It is important for the price to sustain above...
Nalco price action suggest reversal possible fresh buying is missing around current levels not able to manage the breakout of previous life high levels rsi and macd divergence,, good positional short candidate
Double top formation on daily time frame,, neckline around 640-644 levels,, need confirmation of breakdown below neckline,, Good fall possible once structure is confirmed
moving in a channel, the angle is very steep though. can come for a retest of the previous resistance levels.
As a part of sector rotation metals are in a range where hedging will make most traders profitable. A directional trade in metals can be risky. Just see levels and keep trading.
CMP: 122 The stock has given a falling wedge pattern breakout on higher timeframe. After touching 150, it has been consolidating. It can move higher from here. Expectation: 180, 230 SL: Mentioned in the chart based on weekly closing
Price has broken a year long resistance and has come out form an ascending tringle with good volume. comment down you thoughts like and share with your friends
Bearish harmonic and wolf wave formation expecting good fall in counter from current levels good short candidate
Chart indicating a high probability of bullish trend to continue on a 1h time frame. INTIMATIONS:- 1- BASIC TRENDLINE: Closing on Support/Resistance at 85.00INR. NSE:NATIONALUM 2- MOMENTUM INDICATOR: RSI crossing 60 with high volumes. 3- TREND INDICATOR: ADX crossing 20 hence trend is confirmed. WHAT TO DO:- 1- SWING TRADE: FOLLOW THE STRICT...
NIFTYMETAL/NIFTY ratio chart is exhibiting retracement from its pullback from last highs. The ratio has shown successful retracement toward 0.318 Fib level and seems to have successfully bounced from that level. This is bullish development for the metal stocks in the coming weeks. We may see the price going back to the previous high and beyond.
On the hourly time-frame chart we can observe the positive divergence against the prices. As the candles have broken out from the trend line it was a good entry confirmation. Stop-loss will be the low of the swing. First target level will be 291 levels.
Looks like it paved a path towards its previous lower trendline.
Looks like nifty metal index will be in a range bound trade..... Levels marked... Happy Trading....
In Nifty Metal, today Bullish Engulfing have been formed. And also gave breakout from the handle of the cup. The pattern is small tough. Let's see how it goes. We may see breakout from the resistance line soon. Let's see. This post is for information purpose only. Just sharing my own analysis.
It may come down considering the overhead resistance. Short may not be initiated but surely longs are to be booked
Bullish Flag pattern in NIFTY METAL (CNX METAL) More gains if close above 5530
Nifty metals currently in a parallel channel, also forming a rounding bottom pattern(cup and handle) break out above 5410 can give us target up to all time high and above levels .. look for long opportunity in metal stocks.. (conditions apply only if overall market is bullish.)