Gravita India is forming a rounding bottom in weekly chart which indicates the bullishness of the script. Heavy volume indicates the accumulation of the script by the investors are high. I expect this stock to reach the price 80 in one year. The rounding bottom or saucer bottom is a long term reversal pattern which indicates a shift from the downtrend to an...
It appears that shift of power form Bulls to bear is taking place , but bulls are really controlling the price to protect further felling down , Now what will happen ??
I believe if price brakes 513 and come down it will make 509/508 and if rebounds form 513 to upward it will reach 518.50 but hard to brake through series of Resistance from 520 to 530
Lets see...
Alert :: Nifty bull Hangover about to burst
Maths suggesting in 1 or 2 days exit longs and shift your focus to NIFTY17MARFUT @ 8750 zone
i.e. By 07Mar2017 or 08Mar017 Nifty has strong chance of reversal
Bears has strong chance to takeover by 08Mar2017
Time to be Cautious
Statistically incase this idea do not trigger in two days on closing basis, then...
This is a very long term investment as the time frame of the rounding bottom is monthly. The rounding bottom or saucer bottom is a long term reversal pattern which indicates a shift from the downtrend to an uptrend. This pattern forming in the monthly chart indicates this script is turning from bearish to bullish . When buyers enter the market at a low price, it...
Bought call option at 1.40 for strike price 250, standard cup and handle formation along with momentum shift towards price fall.
Expect downfall for at-least 2 days.
The rounding bottom or saucer bottom is a long term reversal pattern which indicates a shift from the downtrend to an uptrend. This pattern forming in the weekly chart indicates this script is turning from bearish to bullish. When buyers enter the market at a low price, it increases the demand for the stock. Once the rounding bottom is complete, the stock breaks...
Right now Nifty does not posses any positive or negative strength. I can be clearly seen nifty failed to create new bullish price cycle after bullish divergence of last day.
Wait for prices to either confirm downside by breaking support with shift in volatility or bounce.
Nifty confirmed triangle break with first 15 minute of opening. I think short can be initiated for minimum downside of 8385. Prices are currently retracing to broken line take entry at the end of retrace.
Bearish divergence is formed on Nifty 15 minute, if support breaks with shift in volatility, downside will begin. Go short when resistance break gets confirmed.
Market opened with another shift in price, since all momentum indicators are oversold, this upside is not a strong upside and have high chances of failure, if you are holding a long position start trailing SL properly to protect your profits.
Regards,
Nrupen
www.udemy.com
Honestly this upside was unexpected but it happened with shift in price volatility and upper resistance break. Keeping that in mind I think Nifty might hit minimum target of at least 8290-8300, but also keep in mind current upside is weak so make sure to maintain a good Trailing SL if you have already taken a buy position.
After a breakout from a upward trending channel, it seems there is a correction shift in the price action. From the current breakout levels it is measured that the price action will go towards the next support levels. It is good time to short with Target:508-504 Stoploss 528
