Right now if you look closely the nearest Gap is "3225" & then Trendline, If both are taken away with a strong candle then we can see other gaps to be filled sooner or later.
If Gap up opens then we have to watch out for Buildup & Volumes.
All the trade setup remains same as per previous one.
Trade Setup for Date: 23-12-2021
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and...
Note: This is for educational purpose only. Please do not trade in F&O based on this.
There seems to be a bullish reversal from 100 SMA, which has acted as dynamic support in the past. Relative strength of TCS is more as compare to Nifty index.
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
Note: This is for educational purpose only.
21 EMA has acted as a dynamic support in the past. There seems to be a pullback to 21 EMA and formation of hammer. Moreover, there is increase in volume. RSI is at 58 which is nearing bullish zone.
Market scenario is positive, everyone will buy now but smart money booked their profit. So in order to be successful trader you must need to think and act like a professional trader.
If you liked the concept hit a like and comment your views are appreciable and don't forget to share with your friends and colleagues.
Upward Impulse complete and the correction forming is a Fat Correction where Wave A is complete B is almost complete;
Hence Wave C is yet to start and this is going to be a downward Impulse with 5 Waves and this correction ca retrace the Previous Impulse as much as 100% as per the rule of the Elliott Wave Theory;
So this is the time to book your profits;