Stock has been in a strong one way downtrend. Currently near a support zone of 1125-1130.
This zone is quite important. There is 1:1 harmonic completion in this zone. Also 38.2% retracement of its bull move from 600 to 1450 falls in this zone.
I am not expecting complete reversal, due to enormous strength in the current downmove, but a relief rally that could ...
A break below 10600 Nifty should mean that the biggies have completed their distribution , which seemed to on looking at the channel formation of past few weeks.
In weekly, price at horizontal and trendline support.
In daily, price showing strength, recently it closed above upper BB and upperBB is starting to move up.
https://www.tradingview.com/x/bOi9Ot7m/
with sl - 305, 1st tgt - 385
In weekly, price at horizontal support zone and hidden bullish divergence formed here.
https://in.tradingview.com/x/4EI02jM7/ In daily, regular bullish divergence formed here.
current correction retraced around 50% of previous rally. https://in.tradingview.com/x/d4ovojGI/
sl - 273, tgt1 - 363, tgt2 - 470
In daily, price at horizontal channel support, bounce back expected.
sl - 870, tgt - 955
in weekly, price bounced from lower BB https://in.tradingview.com/x/W9APTCnp/
in weekly, price at horizontal channel support,
https://in.tradingview.com/x/0HixnkZp/
morning star candlestick pattern formed at the support zone.
with sl - 54, tgt1 - 72, tgt2 - 90
in monthly, hammer formed at ascending channel support line.
https://in.tradingview.com/x/BOC8EaeF/
https://in.tradingview.com/x/bLgtILDa/
Both in weekly and daily, regular bullish divergence seen here.
with sl - 63, 1st tgt - 120, 2nd tgt - 135.
Nifty 50 index opened gap up, However it got stuck in a range bound in second half of the trading session ahead of expiry and formed a Doji candle on the daily scale which implies indecisiveness in the market but in Bears Area. So Bulls Recovery at the Expiry session is none other than Short covering in Swing Positions but Bears will try to grip on Expiry session ...
Existing Supertrend signals changed to Channel , so we will get idea of resistance as per ATR when signal is Long in supertrend and Support when Supertrend signal is short
This system created for study purpose and buying or selling as per this not suggested
Thank you
