Biocon Ltd looks fundamentally very disappointing but there are few patterns on charts that makes it technically interesting at this point of time. Betting for an upside with a calculated risk doesn't seem as a bad option for now. BIOCON ON CHARTS: - Biocon has formed a Bullish Wolfe Wave. - After 10 Weeks the Weekly closing has been above prior candle's...
Chart Analysis - As per the time study the market expands and contracts and generally this can be seen in charts through patterns like Ascending Triangle Breakout / Descending Triangle Breakdown / Wedge parttern etc. But generally the stocks move in ribbon form and through this ribbon wherever we can see two trend lines crossing each other there might be huge...
Since the market first expands then contracts we all are aware about it. There are many indicators for contraction and expansion like Bollinger Bands, Volatility Contraction Panel, ATR etc they all denote almost the same thing that price has started expanding in a particular direction or has started consolidating. Similarly the price action can also be predicted...
As per the charts of Nifty 50 and HDFC bank the market will be entering a new time zone as per Fibonacci. The charts are showing crucial dates where major price action may happen on 3 Sep ( NIFTY 50) 9 Sep ( HDFC ) 17 Sep (The FIB Time Zone Will be over. This is only for educational purposes and the analysis could be right or could be wrong i am publishing this...
IT industry has been in a bearish tone forming lower high - lower low since Q2-2015. The industry is under pressure with margins and visas followed by blow of Rupee appreciation. For short term, 9,880-9,900 stands to be crucial support. The reverse Bullish AB=CD around 9,900 at rising trend line indicates reversal on cards. As per time analysis, the previous rise...