This is daily chart of BEML on NSE (INDIA) with CMP @ 700.45. It seems to be a good shorting opportunity based on following observations:
1. It is downtrend and price is still trading below SMA200/SMA100.
2. A trendline drawn on the chart shows resistances where price rejections are shown by arrow. Now again, price has tested this trendline and also SMA100 and...
First target 10700 if wont sustain it back to test 10200 to 10100 levels
if break 10700 level then very fast reach at 11200 and again back to pavilion 10000 and more downside possible if reject from 11200
BANK NIFTY Trying to Reach Support Level Price Between 23500-24000 and then can bounce Back to Next Resistance Level Around 30000 if Support Failed to Hold this Price level then you can see a Big Crashesh upto Next Levl 20000 Around.
But Dont Forgot to use StopLoss
Let c ....
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L&T has broken major trendline support of the upmove since Feb 2016.
So long as it stays below 1260 levels, we are likely to see levels of 1184 and 1117 if 1184 is broken.
Good opportunity to short here with a stop loss of 1260.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial...
The chart clearly shows that the pair after a long downtrend breached the resistance trend line
It is going to retest the resistance in which the pair is going to create the lower highs after that
long after the trend line retest bullish candle formation
Pharma index witness mayhem today due to bad news from US with Dr. Reddy plunging 10%.
Cipla NSE:CIPLA seems to be the only stock which was hammered relatively less today.
However, I can see that the stock is struggling around 78.6% of previous downfall for many days and looks close to a breakdown.
Looks like it is heading for a first target around 600...
The Day candle chart of EUR/NZD formed the classic Megaphone pattern.
It resisted and reacted well in the trend line resistance.
The pair will be expected to be bearish and would reach the expected target considering longer term.
Existing Supertrend signals changed to Channel , so we will get idea of resistance as per ATR when signal is Long in supertrend and Support when Supertrend signal is short
This system created for study purpose and buying or selling as per this not suggested