Trend Lines
Bullish flag pattern in Adani PowerIn Oct 18, there was monthly breakout
On weekly basis - trend is uptrend
Trading above 50 & 200 EMA on weekly chart
Formed the bullish flag pattern. If it goes up then next targets could be 67, 73, 90.
Ajanta PharmaPrice is trying to break the trend line. Waiting for confirmations in lower time frame.
TechMPrice action is trying to break the downward trend line. Price have to sustain 665 - 675 to be bullish.
Gulf Oil Lubricants - Daily - Trendline - Support - ResistanceGulf Oil Lubricants - Daily - Trendline - Support - Resistance
1. Out of long term trendline. Seems to be in downtrend.
2. Moving average crossover (Death cross ==> 200 EMA vs 150 EMA).
3. 689 seems to be a good support for short term.
Cupid - Daily - Trendline - Support - ResistanceCupid - Weekly - Trendline - Support - Resistance
1. RSI Bullish Divergence - Observed in Hourly.
2. Recovering from the lows of double bottom.
3. Resistance around ~150.
Berger Paints - Weekly - Trendline - Support - ResitanceBerger Paints - Weekly - Trendline - Support - Resitance
1. On the verge of breakout. Strictly follows. trendline support.
2. RSI is entering over-bought so some price retracement can happen
Whirlpool - Weekly - Trendline - Support - ResistanceWhirlpool - Weekly - Trendline - Support - Resistance
1. RSI - Double top. Can expect price to correct further.
2. Within the long term trend started in 2016.
Ashok Leyland - Trendline - Support - ResistanceAshok Leyland - Trendline - Support - Resistance analysis
1. At multi year low near 60
2. RSI entering over sold
ICICIBANK - Rising ChannelICICI Bank is the fifth Heavy Weight stock in Nifty 50. A Rising Channel is seen on weekly time frame. Currently price is at a junction of horizontal and trend line support.
Trader's Queries - NCCQuery : View about NCC
Answer : Weekly & daily charts confirm the down trend. If price goes below 86, then it will reach the next support at 81, 76 & 68.
Note : Post written as a reply for the query from a regular follower.
Price rotation Price moves because of the war between the bulls & bears. Direction is decided by who takes the control. Generally whenever price is nearing support or resistance, the intensity of the war between bulls and bears increase. Therefore price consolidates. I have marked it in yellow rectangle box and that area is known as "price rotation". Still the bear trend have not changed. Check the yellow dotted line. price is still rotating at this level. At this price rotation area, do not get confused with "tails" or "upper wick". Look for the nearest support/resistance and
confirm the trend before entering the trade.
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Caplin Point: Trendline bo above 465Hi All,
The stock can give a trendline breakout above 465... it should move straight to 587...
SL will be the breaking of trendline.
Hope you will benefit out of my analysis.
Thanks for reading.
Happy investing.
Disc: Vested interest and biased views
BPCLThis is for Study and Educational Purpose and for my individual learning.
BPCL was in down trend.
The trend has now chaged
Its been moving up for quite sometime and broken the downward trendlines.
