Support and Resistance
Again Small Breakout from Small ConsolidationAs per the chart, We can see 670 Rs. as per the chart pattern
Bank Nifty - Bullish Crab Pattern - 15 min ChartHarmonic pattern likely to be formed in Bank Nifty. The same is coinciding with a strong support band of 21200-21050.
Enter trade only if positive RSI divergence is seen. Views negated below 21050.
Note - Views only for educational purposes, not a trade recommendation.
Descending Triangle in BAJFINANCEBAJFINANCE is forming a descending triangle. With its Quaterly earning slated to be released on May 19th, the stock could sink further if the results are bad inviting a short entry. Consider booking partial profits if you are holding from 700-1300 levels. 1920-1950 is the support in weekly chart and if it closes below that on weekly basis then next support would be at 1600 levels.
Reliance Profit booking at higher levelsAs reliance have touched its All time high for the third month, it would be advisable to book partial profits at higher levels and could wait for the Fibonacci retracement for lower levels for buying in dips. Reliance has rallied more than 75% in just 1.5 months hence expect some profit booking and correction.
SBI CARDS This Analysis Is Done Only For Educational & Intelligence Purpose, Invest Or Trade At your Own Risk & Will.
The Power of Support and Resistance LevelsThis is for educational purpose only.
This is an excellent example of how support and resistance level works. When a support is broken, it starts to act like resistance and when the resistance is broken, it then starts to act like support. Here we can see the same level working as support and resistance both repeatedly and consistently.
ACC @ Previous support turned ResistanceACC has traded into the weekly resistance which was previously support.
As the price moved to resistance, we can see on weekly long wicks to the downside .
Now on the daily TF we have bearish engulfing. Enter short and target around 1125 as first target.
ABB can we see Long from HereIf we study volume and Moving avg, looks like we can see again a bullish move, Buy around 800 levels Target 840, 900 & 971
Nifty Short_will it break 9000 once again? Edu Purposeif Nifty breaks and sustain below trend line & FIBO support then next stop would be 8800.
Explanation about how parallel channel work:Stock first Chance the trend with heavy volume and then price has consolidate in a horizontal parallel channel.
A horizontal channel is formed by two parallel horizontal lines that frame the evolution of the price.
The upper line is called the "resistance line".
The lower line is called the "support line".
A horizontal channel is confirmed/valid if it has good oscillation between the two parallel horizontal lines.
The stock has break its channel with heavy volume and now forming a new channel.
Short Century @310 SL 316 Tgt 293Century has reached double top with price of 320 yesterday and after that broken rising channel and made retracement...one can short with tgt of 293 sl 306
