The Stock has been in a downward spiral for many months. It has created a descending channel on the daily chart as well as another small descending channel inside the bigger descending. 3 touches of a pattern indicate pattern completion. Here both the descending channels have completed their respective 3rd touches at the same point. We have also a Morning Star...
Mahindra & Mahindra is in a descending channel at a double bottom structure at a weekly support zone. The RSI suggests a positive divergence.
Target 1 - 566.
Traders can maintain a stoploss of 540
Traders can look for further targets after 566 levels have been broken.
Hi Swing /Long Trader,
BajFinance looking good for Long above breakout from Down trend channel for Target of Rs 3745.
BajFinance Preparing to Move outside Down Trend channel .
RSI & MACD indicate Bullish momentum as per chart.
Stock is consolidating near 200 SMA for past few days.
At Rs 2885 Stock is at important support of combination of 200 DMA &...
First Look at yellow highlight candle with long shadow at ATTENTION part(i) and same formed on ATTENTION part(ii).
Now, pay attention to the whole part (i) which has a downtrend, same part (ii) is in a downtrend. I have marked with a light pink circle which almost common in both parts.
After the long shadow candle, started U-Turn in part(i). Turn your eye on...
HERE ARE GAPS LEFT MADE BY NIFTY WHICH NEEDS TO BE FILLED. WHEN THEY WILL BE FILLED?
I AM STILL NEGATIVE ON NIFTY UNLESS NIFTY TOUCHES 11000 LEVELS ALSO WE MIGHT BE LOOKING AT BOUNCE BACK AS WELL.
BREAK OUT OF PARALLEL CHANNEL AND SUSTAINING IT WILL LEAD TO BOUNCES BACK.
MAKE YOUR TRADE ACCORDINGLY.
Long term tight channel since 2016.
3 excesses at the value and one excess at value low.
5 waves are completed.
A previous Resistance and Wave(3) at 28227(can be upcoming support).
50 days moving average is at 28080 nearby (too far for work as support).
Measurement of all falls mentioned in the chart, as per this measurement expected current until 13th Aug...
Banknifty also difficult to understand as wave movements.
Price is near the channel support.
Smaller positive new can boost banknifty to upward from the value low.
While nifty is weak and Banknifty is positive which indicate the direction is not clear and market waiting for news.
Simple Nifty analysis of MONTHLY Time Frame
Need to see where it goes...
At current levels there is resistance but this month's low is a support also...
Shows a try of sustenance above the broken larger channel ....
Need to see if it will be able to sustain... Because RSI also showing divergence.
Based on future candles we might know whether COLPAL is breaking out of the parallel channel it has been for many days ... if the market closes above the entry point in daily chart we can expect it to reach the target
DISCLAIMER : All the articles posted are for analysis purpose only , any trade taken shall be under your own analysis and risk