Price made double bottom
Trend line connecting the MACD levels of the corresponding bottoms is upward
This creates a classic bullish divergence
Target - 145
SL - 127.50
It has been observed in one hour chart of biocon, the price action has broken the upward channel.
RSI has formed a regular bearish divergence. When the price is making a higher high (HH), but the oscillator is making lower high (LH), it means regular bearish divergence has formed. MACD is showing weakness. Sell below 1125 with the stoploss of 1140. Targets are...
I generally avoid looking at a chart < 4hr. TCS however is compelling from a "trading" perspective at current market price.
Clean 5 wave decline + falling wedge + Positive divergence in RSI and MACD indicators + trendline support.
No brainer to go long with SL = Hourly close below 2390.
TCS was covered as a BUY in longer timeframe. Please refer to Links / related ideas
Tatacomm is nearing its long term support line. Previously it has taken support of the trend line in January 2017, gaining 150 points in two months. Check the RSI and MACD indicators I have marked.
Will the history repeat again? We have to wait few more days to know how it gets repeated in different way. History gets repeated always but in different ways, not in...
A BIG rise from 60 odd levels to 200+ in Nifty front line stock coming to an end. After which a multi-week correction should set in.
An ending diagonal in weekly time frame along with a Negative divergence in RSI and MACD indicators.
Strategy is to sell on all rises between 202 to 212 with Stop loss = Weekly close above 222.
Maruti also in a similar pattern.
Whoever missed the Idea spike up recently, Idea is at 50% - 62% retracement fibonacci buy zone.
The 60 min chart shows a hidden bullish divergence on RSI with a bullish MACD crossover in this zone. The stock is finding support at this zone.
Aggressive traders can enter long at the current support level.
Conservative traders, enter the trade at the break of...
Wipro daily chart is showing negative divergences with MACD and Stoch RSI. Today's Close is at 490 which is very near to resistance of 500. Also, possible pullback can be expected considering the today's close just above the boundary of upper Bollinger band.
These 4 reasons indicate the price pullback in next 2 trading days. Prices may test the resistance of 500...
Tata Chemical is showing head a shoulders pattern. Expect downwards movement to 545 levels. This is also confirmed by the MACD falling below the signal line.
The short term chart (thanks to Vanati) shows a descending triangle pattern with a dead cat bounce.
Nifty started falling after failing to make new high yesterday. Currently it seems like fall gionna continue further. If you are short hold your positions till price finds support on any of these arbitrary supports. Bullish MACD crossover will form when prices will find support, you can exit your positions then.
A seemingly 5 wave decline OR alternate is a completion of Neowave diametric... with multiple bottoms at 900 levels. Strategy is to BUY into the stock with Stoploss = Weekly closing below 885.
Weekly closing below 920 is a super buy...will sport clean + divergences in RSI and MACD indicators
Banknifty is retesting resistance levels which it failed to penetrate earlier. Downlink movement or retracement is possible in near short team since bearish divergence with price and MACD is formed on chart. Rising wedge formation on chart suggests the upward breakout in long term, but needs at least 6 weeks to get clear picture.
Next 2 weeks are important from...
Nifty: 8939. Find a new 52week High and this week is also going to find new high 9083_9119 or even 9150 .Trading above 8910, Daily range for Monday will be 8960_8984 & 9030.
Nifty is having a strong support at 8875_8827.
Below 8827 only nifty can correct to 8750 level and more.
Reached near to our expected target 8990 and closed above 8969 is suggesting another...
