Good accumulation shown in the stock backed with high volume in the weekly chart. The stock is in all time high positions. Adaptive as well as static relative strength above 0 lines with increasing comparative relative strength.
Stock has given a good bullish breakout (on all time frames) from a 5-year long trading channel with high volumes and positive RS.
Looking for a good upside potential for a mid to long term view till RS sustains above zero line.
Momentum in tech stocks will be a good supporting factor to bring a good rally.
Discliamer: Take this view for educational purpose....
The setup is all set for a breakout with good volumes and RSI in momentum.
Key level: 175-180 levels: Could act as a resistance. Be cautious! Wait for the right price action.
Breakout will be confirmed once it crosses this key level. If it does, bears would be trapped at top levels and a swift upside momentum could be seen in intraday session.
Let's wait for...
Stock is taking a good support of the resistance turned support zone. A good upmove with a spike in volume will confirm the dominance of bulls over bears. If RSI remains over 40 levels momentum will be in the hands of buyers thus a good upside potential. But let's wait for the volume confirmation and we'd be good to go keeping a bias towards upside.
Gap formed on march 12th acted as a strong resistance which was tested multiple times. Stock is moving in a clear uptrend forming HH &
HL and with a good accimulation near its resistance area it has given a clear breakout with massive volumes and good relative strength.
Now it is at very crtitical level i.e. its previous support, which has now become its...
(FOR LEARNING ONLY)
Price currently trading in ELLIOT 5TH WAVE
Volume expansion when price moves up suggests the strong bullish move
Relative Strength is on rise
PRICE MIGHT MOVE TILL 1200 IN 3 or 4 SESSIONS
TG1 1120 TG2 1200
After a big rally seen in pharma sector which is now taking a pause and FMCG stocks on the other hand giving good upside moves after a consolidation depicts that the momentum has now been shifted to FMCG sector which can been significantly noticed by seeing the price action in CNX FMCG.
After a big move in Britannia and HUL, also ITC. Price action...
BEARISH SETUP - Breakdown from a long supporting trendline (rising wedge pattern) with decent volumes supporting the bearish momentum.
RSI and RS confirms the charge of bears. Thus a good downside move can be seen in next few trading sessions.
View: It will bleed more (may be after a short retracement). Since it is showing weakness on relative...
After an extended period of consolidation, the stock has registered a breakout, backed by volume spike as well. The chart looks bullish and am already long in this. This stock and the sector is a relative out-performer Vs the Nifty 50 index. Have this one in your watchlist.