Recovery of Indian Market has just begun.
The 'double bottom' breakout for the Banking Sector Index explains a strong potential to rise up
Nothing much to comment. Marked short term targets.
Low Risk High Return
Morning Star Formation in Voltas Shares
Strong Support zone since 2017
Trend Reversal
Price Action
First Target 450
Next Target 475
If Sustains High Upside
Stop Loss 425
In this setup, I have clearly explained how powerful RSI divergence is but sometimes they don't work is some kind of stocks.
In my own opinion, I think HDFC Follows RSI Divaregance & this move fill be a successful move.
Observation
Price Action
-> In the last 5 days narrow range candle has been formed. (Contraction of volatility)
-> Positive price channel...
pic speaks a lot... but now only I have few words left.. here u go....
1) a double top in 1W..
2) 4hr a trend reversal is confirmed
3) 30 min a LH formed and started a fall.. hit 1st target.
4HR - target -- 1) 1.40082 (already hit the target.)
2) 1.39406
3) 1.38673
4) 1.38311
in WEEKLY...
Overshot 0.618 fib plus hit the lowest of 2020.
GF1 Nevada being classified "Essential" , GF2 NY reaching 1000 roofs production per week, Model Y deliveries starting, 1,000,000 vehicules which translate in over 105k production in Q1... a lot of good news in the past few days!
As usual I don't know what I'm doing.
All the levels are mentioned in chart. Price reversed off PRZ in one candle. It seems ideal to enter if nothing too much changes in tomorrow's opening and price is near PRZ.
Analysis:-
- Previous week ending 5th April was bearish for HUL. Then a green Doji on 8th April showing indecisiveness against the bears. This was followed by bullish candles confirming a trend reversal this week.
- This reversal happened exactly at the long term trendline as shown.
- Stock moved in downward channel for past two months. Finally appearing to...
The pair has made a double bottom in the hourly chart.
It can retrace to support at 1.03147, for now, which is a good entry point for long trades.
We expect the pair to move to the resistance at 1.03523.
This is monthly chart of YESBANK on NSE (INDIA) which looks good for an investment. Opinion has been formed based on following observations :
1. A horizontal line has been drawn on the chart which acted as resistance during JAN 2015 to MARCH 2016 which turned into key support during recent fall in prise. Finally, the said resistance was broken in April 2016 and...
After the corrective move around end of April, the final leg of correction seems to have commenced in Nifty IT NSE:CNXIT.
IT stocks including large caps like TCS and Infosys witnessed heavy selling pressure today.
Looks to me that the selloff will continue and is the start of a corrective move in IT index before a fresh uptrend begins.
I can see that IT index...
