LONGThe stock is at a value area / trend line, where it has given bounces. Also, it seems to be a formation of ascending triangle.
Can be a good long opportunity + good R:R!
Tail
LONGSeems like making a new trend line with rejections.
If it closes above the hurdle, might give a good move with good R:R!
Observation of two time-Frames for BAJAJ FIN is downward trend.By looking at daily chart shows a lot more clear vision of next moment for investors activities. The price is trading between value high to control price 1 .
Scenario 1:
If the price starts to fall then the next target will be at previous resistance in 8595 and the gravitating target can be easy 8400.
Scenario 2:
Lagging or late fall then price can move up for little and then price fall will be starting late.
1month candlestick.
BAJAJFINSV has formed a solid tight up-channel. The considering long term trend, the current is going down. Though as per the time cycle, the downtrend is too far from now to start, the price is already reached at a value high and started to fall. The Previous resistance was is at 8585.
A lot of weakness that comes on BANKNIFTYLook at the chart, We are seeing TAIL at the bottom. A lot of weakness that come if ignored TAIL .
I'M ALSO LOOKING FOR BOTTOM .
Positiveness is base o TimeCycle for the daily chart.
Tail prediction on CIPLA.If create TAIL nearby the 555, then short this stock preferable for first target 549.
DOUBLE TOP WITH TAIL AND DIVERGENCEDouble top chart pattern with negative tail at the 2nd top almost confirms the short ........assurance comes from divergence also with different indicators....may follow
Tail and look at different things than the long term traders
There're 4 tails at the value high and, 2 tails are detected at value low for a major channel .
When the price is higher above the value high, We found the tail as price reject and reversal.
For instance, you can observe the trend is up before the tail(1) created. U-Turn has been seen after the tail formed. The same thing happened for the tail (1) to (4) in the chart. Vice-versa, Trend is turned up after creating a tail at value low.
Conclusion: Find some stocks which usually create TAILS and observe it. And You can also comment or PM me if you find the stocks. I will lead for trade setup on it.
BAJAJ AUTO definitely can wrapShort bajaj auto nearby 3096 it has made tail and on the high... stop-loss 3109 nearby. Go for the target 3071 and 3049.
Tails relation to trading.Tail it has all the characteristics and underlying implications of the excess price, but is stronger. The less time price spends at a certain price level, the more effective that price level will be in providing support or resistance for future price action. Because less time spent shows greater rejection. Observe how price goes above value and spends there the least amount of time possible. This level is rejected very swiftly.
