IOC | Nice retracement after Swing High breakout (Dow theory)
CMP : 106
SL : 98
Target : 150, 160
P.S : I'm taking it for long time, allocated a small capital. Unless SL is hit i'm planning to hold for 1-2 years
Today, 23-07-2021, Reliance opened with gap up to trap trader with bullish sentiment. And couldn't able to hold even above 2110 level.
But the good thing is, on daily chart it took support from trendline and also closed above 21DMA. This level above 2100 will be immediate support zone for RELIANCE. After that it has support zone at...
What is Rounding Bottom Pattern?
Round bottom can be identified when the price changes graphically form the shape of a "U" on charts. It is also called a saucer bottom pattern. It shows potential reversal in price movements. It shows a very slow and gradual turn from down to sideways to up. The longer it stays the longer the more possibility it gives for...
#JAYSTREETEA was taking 50 SMA support along with weekly closing of 114. stock was shared on Premium Retail Swing Traders telegram channel on 5th July with buying range from 107-110. stock gave 14% return so far and still running. to know more about such calls and stock analysis, join us on "Premium Retail Swing Trader" on telegram
PRICE HAS FORMED CUP PATTERN SOON IT MAY TURNS INTO CUP WITH HANDLE..AND IS AT ITS ALLTIME RESISTANCE LEVEL..IF IT BREAKS AND SUSTAINS..THEN PRICE WILL ENTER INTO BLUE SKY ZONE...GOOD STUFF TO OBSERVE FOR A LEARNER
1) Some useful knowledge :
Triangles can be best described as horizontal trading patterns. At the start of its formation, the triangle is at its widest point. As the market continues to trade in a sideways pattern, the range of trading narrows, and the point of the triangle is formed. In its simplest form, the triangle shows losing interest in an issue, both...