Retesting
RETEST ZONE for DABUR INDIA LTD.Range breakout WITH QUITE HIGH VOLUME can be seen earlier in the chart and after some upside movement a pullback movement we can say, happening in chart. So would suggest to wait for the given zone/levels to test. if you get near around that zone would be a great short term pick for the target of 603 level with a strict stop-loss of 575. (ONLY ON CANDLE CLOSING BELOW BASIS)
THIS VIEW OF MINE IS PURELY BASED ON TECHNICAL CHART, BEWARE OF NEWS AND OTHER FACTORS WHICH CAN AFFECT THE MARKET SENTIMENT.
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Very Huge Rally Ahead if Retest is Successful !Tata Motors is the best stock to look now as it is clearly forming flag and pole pattern. It has already given a breakout and it is at retesting zone , If retest is successful this can be a strong Entry . If retest fails don't enter it.
Important point about flag and pole pattern :- After breakout stock generally ( Not always ) goes as much as high as equal to the length of the pole. Also note that this analysis was done by me only for educational purpose. Feel free to share your feedback/queries.
TCS Short on 15min TimeframeTCS on 15min Timeframe, reflecting a beautiful price action.
It was in an uptrend for a while forming a double top eyeing for a reversal. The point where it formed a second top would have been a great opportunity to short. But who missed at that point including me, now there is another eye-opener.
Forming a strong double top, it reversed from there breaking first leg's low(Support) and then retesting it again(Support turned to Resistance). More importantly, there is a weak candle Doji formed after a series of green candles. Also resembles a lower high point in a downtrend which is a place to enter.
Simply, SHORT.