INDUSINDBK is the 4th underperforming stock, Trading way below 2008 trendline.
It is one of the biggest Under-performing stock from the last one year.
Stock rejected 2014-2016 trendline and after that stock continuously falling.+
This is only for educational purpose.
#dailynifty #2008trendline
Other than the points mentioned on my instagram IGTV @kotfotrading , from a longer time frame the current price is near to Fibonacci 38.2 level.
Buyers are dying out and I think this could be the last rally before TECHM starts falling (for short term). Also the 700 price zone is a Value area and Point of control on Volume Profile. Market is closed on Monday so...
- Every time the Stock has hit a new high, it has retraced 23.6%.
- Following to which the stock has rallied to about half of the retracement.
- Based on the same, the next likely target is Rs. 900
- Looks like wipro has taken support from its all time trend line
- However, volume seems to be big of concern
- Dropping volume indicates that its more likely to fall than rise
- Further I don't see any respite coming through in USD
- If it breaks 280 level and the breakout is sustained, the next target shall be 255 levels
I would greatly appreciate , if you give me LIKE .
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Idea is for positional trading not Intraday trading.
Bullish pattern with 3 falling wedges followed by symmetrical triangle which gave a breakout. The target is 520 levels. Once 520 is achieved a rounded bottom pattern would be formed. Post that we have to wait for the charts to break the neck, for further upside.
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post...
Ascending triangle formation in TCS on 30mins chart.
When the price break the top line of the Ascending triangle, the trend will be bullish but here need to focus o EMA 50.
EMA 50 lying above the price. so EMA will act as a Resistance so keep on eye. Once EMA 50 also broken then it will be hit the target.
Trade Idea:
Buy above - 2163
Target 1 - 2184
Target 2 -...
