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India's large private bank has been in a sideways trend for over 2 years now.
It appears that this sideways trend could continue further until it breaks above 1850 on the upside or 1750 on the downside.
The Relative Strength of the stock with its parent index Bank Nifty and with Nifty is not showing any signal as of now for...
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A rank outperformer from its listing back in 1999, stock has a history of doing deeper retracements and then following it with much stronger rallies.
Currently in the monthly time frame its forming a cup & handle pattern that suggests accumulation for yet another strong upside.
However, in the short term it could see a dip if...
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ACC in weekly and daily is consolidating near its highs.
Breakout if it sustains above 2650 else on decline strong support formation near 2500-2450
Overall strong stock with a great track record
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Stock has been a rank outperformer giving multi bagger returns but after lengthly periods of sideways correctives as can be seen since its listing.
Currently also in its corrective with no clear direction indication in any time frame.
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Stock is among the rare few which had a lengthy period of correction which broke the Covid lows.
Its trying to reverse as can be seen in lower time frame but higher time frame still lacks confirmation and is suggesting volatility.
I have explained the levels on both sides which would give a clearer direction of trend.
Hope...
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Stock has seen a very strong upmove after a 15 months triangle consolidation.
Next resistance at 250-300 with support coming in at 170-135
Got listed in Dec 2021 so needs some more data in the weekly and monthly time frame for a more clearer perspective.
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The stock after seeing a 90% retracement from 2017 to 2020 and see a strong rally, recently going past its previous ATH made in 2017.
It has resistance around 145 with possibility of strong upside above it and support at 100 and below that near 75.
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A small cap stock recently listed in November 2021 has been on a downhill after making a double top in weekly time frame continuously making lower highs & lower lows.
As of now earliest sign of reversal is above 450-475 while any decline till 360-370 could find it at the support of a Bullish Harmonic ABCD pattern.
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Stock is attempting a trendline breakout after a 5 month period.
Upside potential above 10500 while below 9500 short to medium term correction cannot be ruled out.
Stock has been an underperformer against the commodity sector while its losing its outperformance against the nifty index.
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Stock has been in a 2 years decline and is now v close to a crucial support at 515 if breached then further downside could continue in the short term.
Resistance at 625 and 750
Overall a wait and watch scenario for the stock
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Stock is in a strong uptrend which has now come close to its weekly upper channel with a bearish harmonic deep crab pattern in the daily time frame.
Strong support between 180-150 while resistance at 210
It would be a buy the dip stock or fresh additions above the weekly channel
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BTC : BITCOIN: : FLAG + Double Top detected
The Wolf of Zurich has detected 2 chartist famous patterns :
1st is a "Double Top" , which gives a Bearish signal , and the price can reach : 58 000 - 56 500
The second signal is Bullish .
I detected an "ascending FLAG" , which is a Bullish signal;
And the the price can reach 71 200 - 73 00
Watch the EMA.200 Daily...
Bank Nifty is a probable Bullish Harmonic Dragon set up, currently at Ichimoku based support level. A bounce back from here could take it to 29000 where both daily/weekly resistance is found next. View would be negated if it goes and sustains below 27775
A video tutorial explaining the trading strategy for volatile stocks like PC Jewellers. PC Jewellers has been studied in this video tutorial.
The video emphasis and shows use of tools like Support Resistance, Trends, Patterns(Flag Pattern) and the Ichimoku Kinko Hyo Indicator
