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Priceactionanalysis

INFOSYS case studyINFOSYS AT 1590 levels is around strong supply zone, Descending parallel channel resistance around 1610 levels Horizontal resistance around 1602 to 1630 as per previous swing high levels, Bearish divergence on RSI with respect to price, Bearish wolf wave formation, where price are trading above the structure formation which indicate overbought situation , counter might face strong resistance in zone of 1600-1630 levels , which should be used to exit long position if any, now fresh investment in this counter above 1670 levels on daily closing basis Down side counter can give retracement till levels of 1500-1480 once reversal is confirmed. Time to be cautious in this counter.
NSE:INFY
by RUDRA007
Reliance case studyPrice action study on reliance 240 mins chart, from last 2 trading sessions counter is giving weak signals, rally started around 2300 levels in counter to level of 2640 counter is trading in ascending parallel channel structure and maintaining its posture around higher end of the structure,, now in last 2 sessions counter is giving reversal signals, bearish divergence on RSI with respect to price, resistance of major descending parallel channel around 2640 RSI indicator have already given breakdown from ascending trend line support, Now onwards any rally till levels of 2620-2630 should be used to exit your long position, view gets negated above 2671 levels on daiy closing basis, which means fresh investments only above 2671 levels, down side on counter breaks levels of 2583 decisively, counter will face heat of selling pressure which would lead to lower levels of 2520-2490-2450,, Time to be cautious on your investments in this counter, fresh investor should wait for counter to break above 2671 levels or retrace till 2450 levels than enter the trade. Choice is yours.
NSE:RELIANCE
by RUDRA007
3
LAURUSLABSLAURUSLABS:- Strong Long term support. if support break go for short Keep on Radar its a very good fundamental company As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:LAURUSLABSLong
by AjayDhakad_Keep_it_simple