Pitchforks
Axis Bank - Follow the pitchfork600-655 is a strong resistance zone, any buying should be done only above 655 for target 700 which would come in almost no time if price sustains above 655.
On other hand, A high probability setup would be to enter short as close to 655 as possible for a move towards pitch fork median line, below that for lower median. breaking lower median of pitchfork would send the price into a downward spiral towards 533
MCX Lead: Pitchfork, Bullish Flag & Double Top PatternHere I have used the three most popular patterns, which are pitchfork pattern , bullish flag pattern , and double top pattern on MCX Nickel daily chart.
First of all, let's start with a pitchfork pattern. Nickel is running on the support line area. This movement indicates a continuous uptrend ahead.
The second thing is the bullish flag pattern, which also indicates the same. After a short reversal, nickel will start marching for the following targets: 162 - 164 - 166+
If the trend breaks the support line, there will be an activation of the double top pattern, which indicates the fall to the following levels: 148 - 145 - 142.6
Additionally, a breakout of the neckline is a direct sign of an extreme downtrend. And that will become unstoppable and hit the following levels: 136 - 132 - 128
BANKNIFTY Levels for 21-23-OCT-20(weekly)
Was busy in some project so not able to post in last few days
BULLISH ABOVE 24450 FOR 150,300, 700+++
BEARISH BELOW 24100 FOR 150,300, 700+++
All important reversal levels drawn in chart Can comment or ping me for any query or live updates. All views for Educational purpose, Trade at your own risk