Trend lines can be used to identify and confirm trends. A trend line connects at least 2 price points on a chart and is usually extended forward to identify sloped areas of support and resistance. Lines with a positive slope that support price action show that net-demand is increasing. As long as the price action stays above this line, we have a bullish trend. Lines with a negative slope that act as resistance to the price action show that net-supply is increasing. As long as the price action stays under this line, we have a bearish trend.
Price usually retests a sloped trend line several times, until it breaks at which point we may have a trend reversal. The more points there are to connect, the stronger a trend line becomes. Different strategies have different rules on how far apart connected price points can be and whether to connect wicks or candle bodies, but all trend lines break eventually. TradingView has a smart drawing tool that allows users to visually identify trend lines on a chart. This tool can also be used to illustrate trends on indicators.
We can draw Beautiful Multiple Pivot Line capturing the price movement since last 6 months. It is showing that strength is returning as there was big gap bar which was not filled and again today it has made a 3LR reversal bar with gap. Double bottom Neckline at 330 can pose some resistance so defensive trader can wait for the breakout of that level byt aggressive ...
Positional View.
Other Details Mentioned In Chart.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
APOLLOHOSP has broken its recent downtrend line and closed above the line. Signifying renewed interest in the stock coming in as volumes are double and the PA covered previous 3 days downfall.
Buy APOLLOHOSP Above 1029 for Target 1 of 1059 and Target 2 of 1086 with Stop-loss on closing basis of 1015.
Please consult your Financial advisor before taking a call on this.
IDBI resumed Fresh shorts today on NSE. Indicating stock is unable to cross its recent high of 63. Sell IDBI at 61.40 with SL of 63 and Target of 58.70
eichermotors cuurently the market is in major trend line levels (green colour) which is in confluence with support levels (red colour) candlesticks forming engulfing patterns ( currently, candlesticks may change at the end of day ) on daily charts giving some indication for buying opportunity we can expect an upmove upto 3800 levels
Trend Line Break Out.
Price Below Cloud.
Price Below 50 % Fibo.
21 EMA As Resistance.
Positional View.
Other Details Mentioned In Chart.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
Nifty is nicely placed at level from where it can go UP (10900, 11000) or Down (10700, 10500)
Fib levels clearly showing the support and resistance level
Interesting to watch how it pans out
Natco Pharma has tested the support level of 790-800 and now managed to break resistance of 830
Close above 832 will take it to 850 and 900 levels quickly
Overall Pharma sector is looking very bullish that would also support the idea
Please follow the Fib levels for Support & Resistance and trade accordingly
In 4 Hour CandleStick Chart , banknifty tested resistance of 26700 and pulled back.
In 1 Day CandleStick Chart , Banknifty formed Shooting star + Doji Pattern.
This can lead to mild Consolidation for some session.
On Monday(11-06-2018) if Banknifty trades negative for 1-2 hours , then Short with target placed around near term support 26075.
If Trades Positive ...
Yesterday and today Banknifty bulls made a vehement attempt to get it past 26700 levels to reach 27000 but looks like the Bears have heavily guarded the 26700-27000 zone.
I can see that the upward trendline which Banknifty NSE:BANKNIFTY respected since March 22 has been broken and today it made a failed attempt to bounce back as the price got rejected at the ...
