Monthly chart Reveals an upward channel breakout. Any retracements an opportunity to go long. (10300-10500) Keep a watch on the upper line of the channel which is probably the support for the next base. Any retracement towards the upper line of the channel (support) is an opportunity to go long. Drop below the support will be a concern.
"Mirc Electronic" looks positive in Daily chart with forming Higher High's and Higher Low's. According to that the prices are having bull run. Now, going to Intraday 1 hour chart we can see that there is a Trend Line support at current market price indicating that prices may recover from current levels. Adding to that we, Secondly, Usage of Fib Retracement of very ...
CUB - cmp 172. Bias : Long Rationale: 1) Price holds support at upward sloping trend line. 2) Price holds support at 30 week ema. 3) Double bottom formation in a bullish structure. 4) Cup formation observed. 5) Price pierces past downward sloping trend line with above average volumes. 6) Stop : Breach below 30 week ema.
UPL Positoinal Buying Opportunity Based on coming off long term support structure with bullish breakout which sustained even when index was sliding down. Good RISK TO RERUN RATIO. I Ideally play 1:3 return so i dont mind losing some trades. This is an aggressive trade. FOR EDUCATIONAL PURPOSES ONLY.
NSE:NIFTY Nifty Spot currently trading @ good support zone. A: 61.8% Retrace of Fibo (Drawn from right to left) B: Gap up level. C: Previously double top level.. So watch how Nifty trades at 180/220 zone. Price action is the key. Not predicting anything here. It should show some hesitancy @ current support level before making its mind.