Price Broke out of the resistance/supply zone and gave a pullback, the price has taken support at the confluence of the previous resistance zone (which is now acting as support/demand zone) and 20 day EMA, above 93.20 can go upto 98-100 and above that can go upto 110, SL below 86 on daily closing basis, Also keep an eye on the sales numbers to be declared for...
- RSI DIVERGENCE : +ve
- TODAY'S DAILY CANDLE CLOSE : Doji candle, AFTER CONTINUOUS SHORT COVERING
- FINALLY AT BREAKOUT LEVEL, A GOOD MOMENTUM CAN BE CAPTURED WITH SMALL SL
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CHECK BELOW LINK: DEEPAK NITRATE AT RETEST LEVEL
Nifty broke down from the TL and has given a pullback towards the TL, on hourly chart it has formed a doji an hourly close below the low of doji will confirm lower high and can take nifty to 12730 levels and below that to 12626 level which is also the fib 23.6 level and a good support zone, view gets negated with an hourly close above the Doji high which will take...
OVERALL TREAND - STRONG BULLISH
ON 19TH NOV,AFTER WIDE RANGE OPENING BULLISH CANDLE,PRICE STRUGGLED TO MOVE HIGHER AND VOLUME ALSO ON DECLINING SIDE
AFTER WHICH SHARP DOWN MOVEMENT HAPPENED WITH WIDE RANGE BEARISH CANDLES ON HIGH VOLUME
TODAY WE CAN SEE EITHER,
>>>>>>>PRICE TEST RESISTANCE LEVELS 4652-4678 AND THEN MOVE DOWN TO SUPPORT...
After long sideways consolidation, it changed the character. Then it formed a low cheat in form of pullback to 50 DMA.
Beautifully rounding out on weekly chart.
Then broke out today on high volume.
Tgt - at least 600 and 620
Kotakbank's chart hourly and daily pattern shows its a bullish setup building but option data is showing it is a sideway momentum.
There is a pullback due which might show the below setup.
Script Action Entry SL Tgt 1 Tgt 2
Kotak Bank Buy 1,761.48 1,673.38 1,849.58 1,937.68
1. At First Clear Selling Absorption.
2. Low Volume Test.
3. Bullish strength was seen.
4. Low volume Pullbacks on EMA's.
5. Inside Bar Breakout with Strong volume and Price spread after testing 50EMA.
6. Trading mostly in above range.
Nestle is on a downtrend.
It broke below the 200 DMA with strong volumes. It has pulled back right till the 200 DMA where it was met with resistance.
And now we've 3 strong red candles successively (three black crow candlestick pattern suggestive of bearishness)
And the resistance can be seen right at the trendline that I've drawn.
SL: use trailing...
Hind petro has been bleeding since months. In previous day session it closed at 171 which is its a good support. If you zoom out its chart on weekly time frame
you will find this zone is very crucial for Hind petro (171-164). So, swing short should be avoided and anybody having postiion on short side they must book their profit.
If a bounce came from here and...