positional setup in nestle and as i written BEYOND technical analysis that truly means its not only about technical analysis and has certain fundamental things logically taken into consideration !
educational purpose only
First Look at yellow highlight candle with long shadow at ATTENTION part(i) and same formed on ATTENTION part(ii).
Now, pay attention to the whole part (i) which has a downtrend, same part (ii) is in a downtrend. I have marked with a light pink circle which almost common in both parts.
After the long shadow candle, started U-Turn in part(i). Turn your eye on...
IndusInd Bank Long Rs 1350.1 , Stock has entered in the demand zone and it is trading
near to Long term support Price of Rs 1348. Reward to risk ratio is more than 5:1 at this price.
seeing the OI in calls and puts and last day expiry it is expected to trade in the range of 1340 to 1350 range ,
stock can be hold for 2 weeks.
Target for short term are as...
Long term tight channel since 2016.
3 excesses at the value and one excess at value low.
5 waves are completed.
A previous Resistance and Wave(3) at 28227(can be upcoming support).
50 days moving average is at 28080 nearby (too far for work as support).
Measurement of all falls mentioned in the chart, as per this measurement expected current until 13th Aug...
Tata Motors Long @149.7 ,Stock has shown very good support at 149.1 to 152 previously, at current price
RSI is at 39, candle bars are small , so downside seems to be limited. OI on july expiry call side added at Rs 150
level so once it will come below Rs 150 but not expected to come below 145.
Target for short term are as follows. Buy Delivery mode.
Entry 149.7 ...
The 200 MA at 11130.
A "Consequence zone" of all 3 fib. retracement at 11502 nearby.
From the Fib. Retracement(i) and (ii), we detected 3rd Fib. Retracemet at 11200. (This is expected bottom OR revesal level).
Point 1) Look at Fib. Retracement (ii) at start point which is exact at 61.8% of Fib. Retracement.
Point 2) Now, loot at the Fib. Retracement (iii)...
After a strong move down, tatamotors is in a correction phase. We are able to see small candles on the 60min chart suggesting to us that this is a correction formed. There is not strong support for the stock till the 150 level. Traders can sell after the break of the correction which is at 155.40. Traders should look for targets of 153 and 150.