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On breaking neutral bound we can see given target on chart
It has been observed that the price action facing a strong selling pressure at the resistance zone of 730-740 levels, which is indicating further weakness ahead. It has also observed that the price action also forming a range for past few months, which may likely to continue here on.
....... Plotted & Mentioned ........ CHART.
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All patterns have are not fulfilled 100% criteria.
It has been observed that the price action trading in a range for a while and now it has again reached to the bottom of range where a revival is expected. Once closes above 56 levels then it shall further rally up.
my personal view
Notes on the chart.
White pattern would fail above 993 and reddish below 969.
Its possible that the white pattern does not completes and the confirmation for that would be below 977. In that case only red pattern would be worth focusing. 970/975 would be the level to watch for buying opportunity.
If white pattern completes look for shorting opportunity near ...
Vedanta on formation of Range and waiting for breakout. Price and Indicators are indicating Neutral trend so need to wait for confirmation on which side will break.
Buy above - 263.50
Target 1 - 268
Target 2 - 275
Stop loss - 257
Short below - 257
Target 1 - 250
Target 2 - 253
Stop loss - 263.550
According to setup and OI analysis, I think a 23800 CE SELL @ 7.35
and 22800/22900 PE SELL @ 12.6/18.5 would be good enough for 6th July Weekly Expiry.
As i mentioned yesterday Nifty didn't touch 9018 level, Nifty fell into the range bound for another couple of days.
As per Elliott wave count Nifty finish its 5 of 3rd wave and 4th wave would be Range bound. Target for this corrective wave is 8700 - 8692. Its very tight range we can enter BUY on those level to capture the final leg of this entire B wave i.e. ...
NSE:MRFhas been trading in a range starting October and yet again reversed from highs.
If the supply zone stands good, it should go down to the previous swing low.
Otherwise, if it breaks the rectangle upside, we might see action on the long side.
Nifty trading locked in the trading range, range bound trading won't offer more, better wait for the breakout- veer technical analyst
Below is Conversation Between Nifty & Myself :
" Why Nifty ? Why ?? Little irritated with you. Dear Nifty, Isn't it bad to repeat same things again ??? How can we trade if you Range like this ?
Nifty, its good for you if you get out of this Mindset and Do some unique move on your own, we will appreciate your moves Nifty. Just Don't repeat things,thats all I ask ...
The price action on weekly chart indicates a consolidation between 26-36 price levels (10 points range) where currently the stock is trading at the lower side of range. This week closing shall decide further direction in price movement. Keep it in your watch list to gain best out of it on time.
I would also appreciate any feedback on it to bring clarity to our ...
Bears - 1
Bulls - 0
Bears leading the game with 1-0 breaking below the range. Can bulls draw the game bouncing from support of rising trendline or Bears win with 2-0?