The piercing candle, developed on the weekly time frame, depicts support.
While on the Daily time frame, the candle is at downward resistance. It is likely to give a breakout.
Looking at the price structure it is expected to remain range bound for this month 17400 to 18300 range.
Range bound market is a very common scenario. A range comprises an upper boundary and a lower boundary. You would be able to draw a rectangle by connecting these boundaries. The market starts oscillating with in this rectangle. Ultimately the fight between bulls and bears ends with a breakout in one direction.
New traders are often confused about the target in...
I'm expecting a breakdown (maybe the stock can take support at the level and possible for a double bottom and move upwards)
The Reason Why I'm bearish:
1.Bearish Engulfing at channel resistance
2.Global crisis
3.Nifty looking weak
4.Rangebound breakout will be very effective.
5.Avoid taking long for this month(index looking weak )
Disclaimer: Please consult...
Description:
The counter AUDUSD is moving between the price range of 0.7691 and 0.7815 in a parallel channel. Both the flat-top resistance and the support base seem to be stronger. Therefore the counter is expected to continue in the parallel channel. Determining the trend is very difficult for this condition. Breakout of the parallel channel will specify the...
Bank Nifty is inside range bound market it's trading between 30900 to 31500 levels.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Disclaimer : All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
-SGX NIFTY IS SHOWING A DOWNTICK OF OF 60 POINTS
-YESTERDAY NIFTY TESTED THE UPPER RANGE OF 10830
-I EXPECT THE INDEX TO TRADE WITHIN THE RANGE BUT WITH A UPSIDE BIAS
-THE MORE TIME NIFTY SPENDS INSIDE THE RANGE THE STRONGER WILL BE THE BREKAOUT
-BUT STILL WHAT WE HAVE ON NIFTY IS A RANGEBOUND MOVEMENT FROM 10690-10830
-THIS PRICE ACTION IS VISIBLE ON 30-MIN...
