This pattern appears to show a channel on the down trend. The prices have been consecutively making lower lows and higher highs. Which means that the general trend is downwards. Strategy: Short @ 384 SL @ 388.6 T @ 372.85 Strategy fails if the upper trendline is broken.
This Analysis Is Done Only For Educational & Intelligence Purpose, Invest Or Trade At your Own Risk & Will.
Seems to be a channel breakdown + stock is in longterm down trend. Can be good short opportunity !
RIL after over bought know time to fall and there is a gap up opening so planning to sell
31/07/2020 - Bajaj Finance Ltd had already broken the short term trend line in 30min & daily charts. Sell Bajaj Finance Ltd @3250 with a target of 3130 & 2800 on down side with a stop loss of 3350.
It looks like it has broken down from the rising channel. Time to go short?
Yesterday I gave TorrentPower and Bajaj Holding for intraday day, out of which Bajaj Holding did give momentum today, but after the first half of the session. Torrent power was not able to reach my target. THe reason was the Torrent power isn't high beta stock and so 1-1.5% return was what I got, which is great. Zeel on the other hand, is a very volatile stock...
Reliance has given a good downwards momentum we also expect to continue this downtrend on 30/july as well on a good downwards push if drops below support 2080 Or else might see an upside momentum towards resistance
Strong downtrend If fall below support 330
The zone of 2270-2320 is strong resistance zone for this share. The stock is moving strong till now but this resistance can halt it's run. The resistance is tested recently so much so by the stock that it becomes a self fulfilling prophecy. However, this time looks different. The Nifty IT is only sector which has posted good results as a sector in this pandemic...
Guys Techm looking breakout and 700 may test as per trend line short at the levels of 700 as per harmonics