Trend Lines
Updated chart of REC LTD - DAILY BASISREC LTD
has broken resistance trend line and will move skywards ....
NIFTY 50 4 hour viewIt seems to be moving in an upwards channel pattern.
Support / Resistance marked on chart.
Looks like it will touch the upper RESISTANCE LEVEL (LIGHT BLUE LINE) and fall back.
CRUDE OIL 15 min chart UPDATEDCrude oil chart posted earlier today.... same one updated with RESISTANCE LINES.
Channel has been broken and now it remains to be seen if RESISTANCE will be broken on upwards movement.
BALRAMPUR CHINI Daily ChartBALRAMPUR CHINI
Daily chart shows wedge formation.
Trend lines showing support and resistance met.
The BLUE lines also show where it has met support multiple times.
REC LTD - Hourly chart - Upwards channel movementREC LTD from the past few HOURLY trading sessions, has been in an upwards channel. Channel breakout / breakdown may give good up or down movement.
niftyon monthly scale we saw a bullish harami candlestick formation in nifty . we tested the low of that candle this month i.e 10350
going forward its clear we have very very strong support at 10350 level. we have been always vocal in our past posts about buying nifty at lower levels for a new high. same strategy will be used in future- buy on dips with sl of 10350
S&P500 Channel breakdown and now retestingIf this test fails then new levels may open up on the downside and the recent swing low of 2603 may be in threat.
Eicher Motors - 2nd Dec 2018Eicher motor is in declining mode. This stock has outperformed in last 3 years. However, the stock is available at very high cost. The following is the next possible correction phases:
Break below 20014:
Target 1: 18200
Target 2: 16385
Target 3: 15263
Wait for a good price to buy at a lower level.
Infratel - Perfect example of bearish price channel.Infratel - Perfect example of bearish price Channel.
A price channel is a pair of parallel trend lines that form a chart pattern. Channels may be horizontal, ascending or descending. When prices pass through and stay through a trendline representing support or resistance.
How to trade this?
1. When the price hits the top of the channel, take a short position/exit long position
2. When the price hits the bottom of the channel, cover your existing short position/take a long position.
