btc is consolidation since 1day and forming a rang with equal lows and lower high fornation
if breack bellow then it can be big tread which is highly probable
A potential long term reversal candidate. This stock had been in a long drawn bearish trend. Over the last few months the fall turned into a sideways phase. Now the it seems that the scrip is ready to move up. Analysis down primarily on weekly chart but also in daily chart. Have a look!
Hello & welcome to this analysis
After a super run in 2023 its now in a retracement with support at 130 and below that at 100.
Resistance is at 155 and then 165 - sustaining above these levels it could see a decent upside in the medium to long term
Happy Investing
Learning of today:
1. Have patience........... more than 4 hours as long as your SL is not hit.
2. Have faith in your system, do not take short exits, let the market come to you.
btc can be taken long side tread with 100 t0 150 pint stop loss
in 5 min time fream market is anable to break previous support area and tread can be taken with small stopl loss
entry at 67750
sl 67650
target i shared in video
Day 6:
Had the idea of chasing the trend, however, realised that I am not yet ready for it. The SL was very far off and hence was sceptical of taking the plunge. Upon confirmation candle, did take the stand; and it turned out to be correct, got out at expected target.
Learning:
1. Waiting for confirmation definitely helps
2. Do not doubt the system even in an...
Day 5
Experimented with 15 min chart to see if it can help identify the major trend for the day. Untill now I used to look at 1 hr chart to judge on major trend.
Looks promising and delivers within the day. Will follow 15 min chart to see if can help me identify the trend correctly, consistently.
There is a high chance for turning into a H&S pattern in Bank Nifty chart.
OBV chart is giving the extra signal or confidence that the chance are more for a reversal from current closing price.
For further details please go over the analysis video
Company:- HDFC Bank Ltd.
Sector:- Banking
M Cap:- 10.99T
Technical:- On the hourly and daily chart smart money formed semetric triangle chart pattern and breakout it with heavy volume, I thik this stock is bottoming out and ready for the next leg rally. One more thing Nifty private banking and nifty bank index is also bottomed out. So if Banknifty and Nifty...
