Rsibreakout
Bull counter attack in Granules IndiaGranules India has maintained support of 340 price level after breakout.
As identified in chart, Bull has made counter attack the bear candle.
RSI is also increase by taking support of 60 levels,this shows stock is still in bullish momentum.
If volume is consider, current candle has above average volume.
Target of 395 can be achieved in upcoming days.
Traders are requested to do their own analysis before taking actual trade.
Happy Trading!!!
Dual breakout in Banknifty !!!!As, chart says banknifty have given breakout above 200DEMA where,
it has faced resistance 3 times earlier.
RSI above 60 indicating strength in breakout and confirms it's reliability.
Also, breakout from inverted head & shoulder pattern is visible.
Minimum target of this pattern comes to 36150 but it can move above this also.
I'll try to publish an elaborate idea on banknifty as it's PE stands on 17.71 below 1,3,5yrs average
and has strong buying interest at 15.54.
Have a 'CUP' of tea with 'CRISIL' !!!!Crisil have given breakout from a cup and handle formation
above 3500 with peak volumes showing huge buying interest and sudden change in sentiment.
Both RSI and MACD are showing positive signs.
RSI has breached above 60 which confirms that bulls are very strong.
MACD has also shown crossover which confirms change in sentiment.
Precaution:- Since broader market are in negative node and there is death cross in Nifty
so try to buy near breakout level rather than catching at higher prices for better
risk-reward.
Hero moto case studyHERO MOTO SPOT CMP 2675
HARMONIC STUDY
TIME FRAME :- HOURLY
Bullish Bat pattern formation on hourly time frame.
PRZ in range 2670-2640
Reversal confirmation above 2730
pattern violation below 2600 levels
Upside retracement levels of 2780-2815 possible
Triple bullish divergence on RSI where price made lower low 3 time and RSI made higher lows
RSI have given breakout and retest of falling trend line and now on verge to break above previous high levels, indicate bullish price action ahead.
Descending triangle pattern formation , having breakout confirmation above 2690 levels ,, which would lead to measured move of 90 points ,,
Trade type :- Swing
-Time horizon :- 7-10 trading sessions
Good long candidate.
Shri RAM City union case studyElliot wave study and structure formation,, road map mentioned in chart,, rsi have given breakout from falling wedge formation
Lets see whats in store,,
SELF EXPLANATORY SERIES : QUICK ANALYSIS ON SUMICHEM.In this self explanatory series I will be posting charts with pure technical analysis only without full length explanations , Traders can ask their doubts in comments section, Happy trading.
Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing any investment or trading.