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EaseMyTrip Price Action AnalysisThere is a pennant (symmetrical triangle) pattern formation (blue triangle). By choosing baseline charting (instead of candlestick or range), you can visualize the swings. As of now it's hitting the resistance of 403. If it able to break the previous swing high (409 on 04/10) with volume, it can go high (~425). But see the black dotted line. That's a "prediction" heuristic (no guarantee, it's just a heuristic) where price-action can go. If it fails to break the upper trend line, then the range is: 400-375.
NSE:EASEMYTRIP
by pradipandsuvra
Morning Mantra, 30th November 2021Just as we had stated yesterday, similarly, we had also witnessed how beautifully #Nifty had sustained our predicted support range levels of 16700-16800, and just after making a day’s low of 16782.40, the index had somehow very well managed to bounce back therefrom. Well, as of now, a beautiful formation of Dragonfly Doji on the chart, seems to very well depict our prediction, which is, that Nifty might now take a pause from this sharp fall. Wherefrom we can expect the Market to move in sideways and to thereby create a platform. Moreover, it’ll be a sheer matter of Concern, if the index gives a closing of below 16700. So altogether, as of now, this level of 16700 will play a very crucial role on the closing basis. Stay stock specific. Invest in selective stocks only, as it’s a good time to accumulate some qualitative stocks, which appear to be having a good potential in the near term. Also, as of now, avoid aggressive buying, for the better. Nifty Levels 15580-15800-16200-16350 -16800-17200-17400-17700-17900-18000-18350 Regards, Alok Daiya
NSE:NIFTY
by alokdaiya