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Trendlinesmatter

Breakdown strategy on spot niftyStatement (1) : As per "No trading activities", the price is not going to cross above the Control Price which drew by blue color. Statement (2) : Presently, Nifty is again going to high volatile as show by Remarkable box . Statement (3) : From the timeCycle, approximately move projected by (A),(B) and (C) . As per channel, the main support is 10525 below where investors think for the long side. The price can consolidate between 11300 and 10600 range for 2-3months. Breaking this range will create a new spike.
NSE:NIFTY
by Trade-Technique
4
The Dilemma Of TrendlinesOften we see situations like above chart where it is difficult to decide which trendline is correctly drawn. Truly no one can actually tell which trendline is more correct than the other. And Is it the break of AB or AC or DE which should be considered to take the trade? When ever there is such a situation, it is wiser to give secondary importance to these TLs . The foremost importance in such cases should be given to market structure. The stock just made a higher high on 15/12 and broke a series of lower lows after 18 days. Although it could not sustain the highs yet its a positive signal for the bulls. I would consider for long positions in this stock if it maintains the lows just made. A closing above E (925) on this chart will be a second bullish sign. A lot of short covering will be seen above 933 and 937. On the bearish side, a breach below the lows of 908 would attract fresh short positions. Sometimes its better to sit on hands and watch the show. Enjoy :) Bravetotrade
NSE:RELIANCE
by Bravetotrade
27