Is there a better example of resistance?And there are people out there thinking that technical patters and analysis have no place in Securities. Just look at that reversal from resistance. :)
Reversal
ITC VERY STRONG RESISTSANCE at 174.70Honestly, if there was an ever an example to use to teach someone resistance, it's this. Reverses from the trend line every chance it gets.
Imagine the psychology of a trader if it breaks the barrier.
Buy above 175 with an open target. It will move! NSE:ITC
Learn RSI Part 1 : Basic of Relative Strength IndexHello Traders,
I am back with the new educational concept. You may have often heard the word "RSI"
We are going to study about RSI : "Relative Strength Index", which is the most used indicator.
RSI is the price following indicator and it provides important levels from 0 to 100.
The important levels of RSI are 40-60, 70-30 and 50
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Why do we practice RSI?
There are a few reasons for using the most important indicator.
1.) It provides over bought & oversold levels.
If RSI goes above level 70, we can say it has "overbought" and if RSI goes bellow level 30 we can say it has "oversold"
Q.1 What is oversold & overbought?
A: These two terms are extreme level when the price reaches this level, reversal is possible
So shall we travel further? YES! Cool!
2) RSI gives us the direction of where the trend is going!
I have added level 50 as an important level.
So, if the price is below level 50, we can say that atmosphere is bearish and if price is above level 50 we can say that atmosphere is bullish.
In short, Bearish below level 50
Bullish below level 50
It is better to draw a horizontal line at level 50, to have a check on it easily!
We will continue the series it will cover the divergence and many more indicators.
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If you have any doubts, you can put them in the comment section below.
BIG REVERSAL HEAD&SHOULDER PATTERN !!BIG MOVE IS COMING stay tune!
This ANALYSIS is for EDUCATIONAL and INTELLIGENCE pourpose,Trade at your OWN RISK!
Banknifty: Revesrsal from main 23% FIb?just 23% Fibonacci says a lot. Banknifty Falling since Aug 31, and its near expiry now. SO long term shorters may book their profit here and good reversal may come in a day or two.
Maruti - Reversal from Top probability11 Sept Week closing shows rejection from top. Next weekly closing below low of cuurent week will confirm reversal from Top. Keep in your watch list for short position.
Disclaimer : Analysis shared is for education purpose ONLY.
Mindtree - Short IdeaMindtree is at weekly resistance. Sell if it breaks 1125 with target of 1100 and after that 1065 with stoploss of 1130 DCB.
DXY Dollar Index - view for next few years. Purely based on the charts, the bear market for DXY maybe limited down till 88. Any substantial weekly close below 88 voids this view.
HDFC LIFE - Gearing up to retest 647After a great RALLY from 486 to 647, there has been huge selling on 30th July
with more than 25 million shares traded that day.
However that did not break the prices and there was a small price correction.
The intersection price of 608 is important.
An upward move is expected if sustained.
The 30 min chart on Market Profile shows weakness.
Although a trade with SL of 600 should be a good Risk:Reward
ENJOY
HCL SHORT SETUPHey Guys!
This is my First Post on Trading View stick to the numbers.
Support if you make a profit.
LONG Tanla SolutionsLooking at the Monthly charts of TANLA SOLUTIONS, it has given a Breakout after a 10 year consolidation period. Can be accumulated near the 85-100 level. SL should be maintained at 65 on the EOD closing basis. This is a positional view. If the SL is respected the target for this trade is around 220-250. Respect the risk management first before entering the stock.
## Nifty chart ## learning chartCheck out this chart. why nifty reversed today. so many resistances were coinciding at the same spot. first 200ema is an important level.the trendline is also at the same level. also if you plot finonacci levels u will find 61.8% retracement level at the same spot. so many resistances are at the same level. so a strong resistance is at the level. now need to check if bulls can hold the reversal or bears overpower them.
Possible bullish trend predicted in Vodafone idea* Since the rsi and mfi are the overbought levels and also it is a clear uptrend
* High possibilities are there for the script to be bullish
* If the market starts positively then idea will continue moving upwards
NIFTYToday's weak opening and recovery so far looks similar to the lower circuit and recovery on March 12, 2020, we know what followed next. BOTTOMS are RARELY made in V shape. They consolidate before gaining momentum. Intra day and stock specific would be a different matter, else let the mayhem fizzle out then look for reversals. Resistance at 9800.
MCX key level 1165, Keep an eye for breakout or reversalMulti Commodity Exchange (NSE: mcx) is now at make or break level. The key level is 1165. Keep an eye for breakout or reversal trade.
Support and resistance analysis.
Bearish Bat - Nifty 50Bearish bat appearing in Nifty 50. Price already entered PRZ.
R2 Around 9550. We need to look for signs of reversals (if any) between 9480 and 9550.
Trade only if strong signal bar appears as currently Nifty trading in a strong bullish momentum.
** Study only for educational purposes, do your own risk assessment before trading **
VEDL respecting the longterm trendVEDL is currently trading at the multi year support
In a lower time frame there is signs of reversal
HDFC BANK Fibonacci retraced 50%In the Recent Fall HDFC Bank retraced 50% from its lows. same as NIFTY 50, now NIFTY looks reversal same could be the case for all indexed stockes which retraced to certain levels. we could see 850 levels in HDFCBANK in this MAY series.
Sell Opportunity in BALKRISINDThere is a rejection from 1000 levels. which is also 50% retracement of Fibonacci retracement. easy target would be 900 if it opens gap down. if it is able to close below support trend line. it may fall further.
## TATA steel ## Chart learning ##TATA steel weekly chart. price in long term bear channel. after touching lower channel line price is reversing. price makes a new low but RSI made a higher high. so this a positive RSI divergence.
SBIN formed Bullish Bat harmonic pattern on daily chartSBIN formed Bullish Bat harmonic pattern on daily chart
SL 245 DCB for Target 291, 303
