1. Stock is currently reversing from 52 week high.
2. Go long at 1528-1530 i.e. C&H BO level with stop below 1383 for targets 1675 & 1820.
Enter only if trend supportive (ROC/MACD)
CENTURYTEX - MAY FALL
CENTURYTEX declined as it sustained below mid-Bollinger 304.
Staying below Lower-Bollinger 265, it may accelerate downfall towards 25 March low 218 or even below.
RSI quite bearish
MACD on verge of bearish cross
currently price are consolidating with a rage. prediction, if the price crosses 238 level which is acting as resistance then there is great value in the future.
Also RSI and MACD are in favour.
best is to wait for a buy signal to know the price action or going long is best
*A rookie trying to master stock analysis
you are welcome to support or share your...
NIFTY WEEKLY CHART ANALYSIS
-SINCE 9TH 2017 OCT 9950 HAS BEEN A CRUCIAL SUPPORT FOR THE INDEX QUIET A FEW TIMES
-REMEMBER HIGHER THE TIME-FRAME STRONGER IS THE SUPPORT/RESISTANCE
-WE TOOK LOT OF TIME TO BREAK ABOVE 9950 INITALLY
-BUT SINCE OCT OF 2017 WE HAVEN'T GONE BELOW IT
-DUE TO THE PANDEMIC THE LEVEL WAS FINALLY BROKEN IT TRAPPED SOME SHORT PLAYERS
-BUT...
As we can see MACD has gone on -ve and stock is at verge to break upward trend line, Which intimates the trend changing to bearish soon. Hence,
Sell NTPC below - 90.5
T- 84.5
SL-93.5
I have used Lifetime high & low to identify two zones: Bullish & bearish zone.
THE CHART
-> Lifetime high + Lifetime low / 2 = Rs 404 (markerd with redline)
-> Higher & Lower piviots are market for actual stoploss & trailing stoploss
Observations:
-> RSI is at 60 level indicating bullish as well as a point of resistance.
-> MACD has a positive...
Weekly candle Big bearish shooting star
Daily Candle closed below support line
H4 RSI diverge making a lower low breaking support line
H4 MACD Crossover signal to go short
