Get started

Support and Resistance

Hinduniliver today trade i took small and sweet (Education)My target was 2035 which was near resistance and i was bullish bcoz there was bullish divergence in RSI. Morning there was gap up above blue line so i was not sure. i observed few candles for confirmation. First confirmation, second red candle took support on blue line. Still i was not sure. So i was waiting for second confirmation and on 6th candle it took support on pink line then i entered into the trade and within few candle i reached to my target. sharing just for knowledge. which may helpful for you in coming trades. Trade just based on support and Resistance :)
NSE:HINDUNILVREducation
by srinivas2590
3
How Support and Resistance of Fibonacci Levels - Pidilite IndJust posted chart for learning purpose, please note the retracements levels bounce from key levels. How stock behaves at key levels marked to form price action on downside when the latest swing was marked using fibonacci retracement After Forming W Pattern at bottom, confirming through RSI Divergence, 1) First Retracement to 38.2% levels, then came down 2) again found resistance at 38.2% levels 3) third time broke 38.2% level as it got weak and got resistance at 61.8% level 4) Retraced to 50% level and bounced back to break 61.8% level (perfect price action) 5) Formed double top pattern at 78.6% 6) stock fall downside back to 38.2% levels and retraced to 50% levels (perfect price action) 7) Again retracing and finding resistance at 38.2% level Happy Learning
NSE:PIDILITINDEducation
by kapilvaidya1
Basic Pattern: explanation of Cup and Handle pattern.How to trade Cup and Handle pattern? The Cup and the handle pattern is basically the retracement from the prior top to about 1/3rd of the vertical height of the cup. Cup and Handle pattern can be seen both as a bullish continuation or reversal pattern. Cup The Cup is usually “U” shaped and may be considered as a rounding bottom with almost equal highs on the both side. Handle The handle is usually the pullback and the pullback is about 1/3rd of the size of prior advance. The smaller the pullback, better is the strength of the formation and higher the possibility of breakout. Volume The breakout from the handle’s resistance should be appear with increased volume therefor conforming the breakout. Target The projected target from the breakout is usually the vertical distance from the high to the bottom of the cup. If you want more education ideas please LIKE, and give SUGGESTIONS in the COMMENT box below.
NSE:NIFTYEducation
by Jay_shree
44