Stock has given an impulsive fall ,which suggests that there is a strong possibility of a zigzag correction. One should sell on rise near the level of 2550 keeping SL of 2610 & look for the target zone of 2250-2150 to fill the gap.
EXPLANATION : This is a 45 min time frame chart of TITAN . The stock has been in a uptrend for days , I am seeing a very good selling opportunity in TITAN because of many reasons . It has formed head and shoulder pattern , gap pending in market It goes to correction . If give a strong breakdown and broke its demand zone with volumes and has retested the same. I am...
NIFTY 50 EOD ANALYSIS -07-10-21
In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow.
EOD +144.35 points /+-0.82%
SGX Nifty @ 1735h...
EXPLANATION : This is a 45 min time frame chart of TITAN . It has formed Symmetrical Triangle Pattern , both side levels marked in chart .
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Last day I published an idea on irctc .Now Titan also looks similar ready to fall,but again this is not trade to short futures it is for shorting call near strike price of recent high.Happy Trading :) NSE:TITAN
Did Titan reach its life time high and ready for profit booking ???
• Wedge pattern break out target reached (width of wedge would be the target)
• Inside bar/Bearish Harami candle formation seen today
• Titan is at life time high
• Is in overbought zone with decreasing volume
What can happen next :
Scenario 1 : Uptrend can continue to reach...
Titan seems good triangle pattern break out
Camarila R3 break out already happened
Waiting for R4 breakout
If R4 breakout happens good move will happens
Moving average and day volumes adds good confidence level