AUROPHARMA interesting supply and demand zone with triple top pattern. If this setup fails to hold auropharma from falling, then 200 sma will safeguard the price.
Expecting small down move then rally towards supply zone.
Nifty needs to break above 10983 to make strong up move.
Until then looks to be in consolidation. Might try to touch 10770 again
Sell below 10983 and long above 10770 for some time.
Above 10983 look for higher 11160
Use stop loss
Hi guys, what a day. I had to wait till afternoon for the short opprtunities. The patience really paid. I had three nice trades and I would like to share one special trade in UPL.
Price Volume Analysis
It opened with a gap down and made a spike low (see A). Later it broke that low and formed two more spikes with larger volumes, clear indication of some buying...
I always love to trade such a chart but on 5 min. time frame :) Not possible ?? Yes, its possible.. but we will discuss on this topic later in some other post.
CORRECTIONS and the ELLIOT COUNT:
In this chart I can see three major correction. Each one having a different topping pattern. The first correction has a Rising Wedge; the second has Triple Top and the...