NIFTY has seen a v shaped reversal from a previous top reference point, Key support band is now at 11550-650. should hold that for this rally to sustain.
two potential trade areas: 1. a break above 11760 zones and a hold there for a push to the elusive 12k mark and higher.
2. a break below 11550 for a reversal and retracement back into the rally including the gap...
RSI: Bearish divergence
Channel: Upper end
A 6% drop can be expected.
Use your own SL levels (prefer), if confused follow the mentioned levels.
Expected Level: 194.55
(This is only my opinion, not financial advice. Consult your financial advisor before making any decision based on it)
Animesh Vashisht, CFTe
NIFTY has test a crucial near term reference zones, if it manages to build value lower and consolidate we can break through this zones, else these areas a potential reversal points. potentially earnings will lead the way
#banknifty looking at the monthly profile ( this is from futures charts) gives a good perspective of what is playing out, we are consolidating between last mnths VAH n VPOC.until we clear 30650 or 29800 the play is to trade pullbacks in this range, a break outside this range will likely give a 800-1000 pt move
Monthly chart CNXPHARMA
Price action: Blue arrows show higher top and bottom
Line studies: Price moving out of red downtrending channel
Averages: Support at 200 period EMA in June 2018 and Feb 2019
RSI: Bullish divergence + trending upNSE:CNXPHARMA
Comment: One can consider investing in pharma funds/Etfs with a systematic investment strategy for 5 years (Holding...
From a larger time frame context looking keenly at these 2 zones in the markets. Idea is we ride the trend on the upside as market evolves but be prepared for a failure at the upper zone for a potential reversal or a break out above that for another leg of move.
On the downside a break below the support areas, will lead to a potential correction and rotation back...
I should never try drawing again for sure. :D
Anyway, lets get down to this weekend's educational article.
- ALL ABOUT INDIAN MARKETS INDICES.
Something i feel every market participant, new or experienced, must know about.
BUY PC JEWELLER ABOVE 85
TARGET 97, 110, 136
A disciplined trader should avoid such scripts on regular basis but kabhi kabhi spinner ke sath bhi crease se bahar ana padta hai. :)
1. OBV and PRICE Bullish divergence
2. Healthy candles
3. An upmove followed by a retracement
4. Has started to move up again (Latest candle)