A beautiful triangle patternAn diminishing triangle pattern has formed between the trend line (in orange) and the support line (again in orange) at 75.2.
75.2 is a strong support and has supported the scrip 4-5 times since 8th June. I am betting slightly higher on the breakout happening on the downside. The second wave has led to serious outflow of USD to other currencies (EUR, YEN, CNY).
Let's see what happens.
Supportbreakout
Massive Selling of USDThis huge weakening of the greenback comes at the backdrop of resurging covid cases in United States as compared to the rest of the world. The past couple of days has seen greater than 30k new daily cases. So the "emergency of dollar demand" might be waning at least till the fear of the second wave lasts and the rest of the world recovers steadily. More favorable currencies like YEN, EUR and even CNY (chinese yuan is slowly becoming a pretty strong alternative to dollar) will be sought after while the USD selloff lasts.
75.5 has been a strong support. Let's see how close can it get till Friday (expiry date of futures and options for USDINR), or does it even breach the line.
If there are no more significant violence along the Indo-China border this week (seems unlikely as the high level military officials from both sides have been talking constantly), the current trend will continue.
USDINR - 75.2 Support 75.2 have been acting as a support for USDINR. Expected breakout within next two sessions.
SUN TV This stock is on a downtrend from all-time highs reached in Jan 2018.
Sell if 1-day candle closes below 650.
Target 570. Major Support near 560.
NBCC short term viewIndicators are weak in daily and weekly charts. So it may break down the support line and it may reach up to 217.
Vijayaraghavan
Kovilpatti.
it is in support zone and near to breakout zoneit is in support zone and near to breakout zone. 95% chance to breakout positive direction. 5% + Friday sentiment cause downfall of avanti. lets see what happen
SBIN short term breakout SBIN price action shows short term breakout retesting the support zone buy 280/285 for the target 308/328 stop loss below 275.
QuickHeal: Falling Wedge Pattern This is the Chart of Quick Heal on the daily scale, A falling Wedge pattern did appear and the Prices breaks out downward.
Though Falling Wedges patterns are supposed to breakout upwards, but here it breaks out downward.
This pattern forms over a period of approx 6 months.
Break out came with a gap , hence signalling price may go down further.
Support for the stock is at 210-209 levels.
And if i look at harmonic pattern
i could see a probability of Bat pattern ,suggesting a support zone near 211-210 levels
Hence , one should keep an eye on these levels to determine the further price action in this stock
Justdial is at crucial support. Will it breakout?It seems that JustDail is at crucial support level. Will it breakout give huge gains? or will it further down?
RELIANCE DIPPING DOWNIt is been observed on the daily chart that the price action breaks below the curcial support levels of 1030, now it shall further move down to next support levels.
Target: 1014
Stoploss: 1034
BPCL BREAKING SUPPORT LEVELS It is been observed on daily chart that the price action breaks breaking below the crucial support levels indicating further fall down. The price action signals that sellers are in dominance of the prices levels and now they may take to the next support levels around 603-600 levels.
Target: 603
Stoploss: 645
