Hello Traders .....
Correction in the price is very important for the traders, it gives us the opportunity to enter a stock before a new trend.
Because we always see a correction before the start of the new trend.
The same styled correction is seen in Naukri.
Naukri is corrected more than 50% from the highs.
And now we see the signs of the completion of that...
Good Morning!
Yet another day of panic, where after a gap down opening yesterday, Nifty tried to take a support at 17000 with the beautiful attempt in the second half for 17200. But unfortunately failed in the last hour.
Also a panic selling in across all the sectors was witnessed except in IT. Which is clearly indicating price correction. Moreover, against all...
Don't miss the great BUY Opportunity in L&T. In 4HR chart it's rejecting the support zone and probably it'll bounce back to supply zone which is at 1989.95.
Entry: 1855.80
SL: 1805.65
TP: 1989.95
Although June 1989’s low test EUR/USD bears, a clear downside break of the 2.5-month-old support line, now resistance around 0.9850, keeps sellers hopeful at the lowest levels in 20 years. Even so, the major currency pair stays inside a bearish channel formation established on May 12 and has its support line located around 0.9490 by the press time. Additionally,...
Patterns play an important role in trading. Especially when the same patterns appear on the different time frames.
In Marico we see the formation of triangle patterns on Daily, Weekly and Monthly time frames.
Daily Chart - Ascending Triangle Pattern
In two trading sessions the price had tested the upper and lower length of the triangle.
So, from this we predict...
After a five wave rally stock is correcting in a three wave fashion. The five wave rally can be considered as a wave-1 of higher degree and the subsequent fall should be taken as wave-2. Hence,stock is likely to correct towards 100/97 area which is also a 50%-61.8% fibonacci retracement zone, which suits better retracement for wave-2.
Trading strategy: Sell 103...
NSE:TATASTEEL
Chart itself explanatory, reverse flag formation consolidating in the range. Can able to see shorting opportunity..
Sell with stoploss - 113
Target - 105, 102, 99
Hello Traders keep Granules on radar ....
Granules makes a Rounding Bottom pattern on a daily chart.
If it gives a breakout of 326.10 and holds it strongly.
Then we will see the levels of 362.20, a move of more than 11%.
362.20 is a Resistance on the weekly chart.
Happy Trading
THEORY:
This pattern forms after an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder. The left shoulder is formed after a big bull rally in which the volumes are quite large.
At the end of the left shoulder, a minor correction takes place on the downside which happens on the low volumes comparatively the starting of the left...
Stock has formed a reversal candlestick pattern which is known as Evening Star on weekly time frame. Also there is a horizontal resistance which suggests that the trend developed from the bottom of 1274 is exhausted and stock is ready to turn from the current level.
In the Evening Star Candlestick Pattern, the first candle closes bullish and the second candle...
