Maruti has been moving in an uptrend channel. Currently its in consolidation phase on this smaller time frame where price drifted down to 5885 zone. It may retest this level again before breaking out of the trend line for a target of 6025-6050.
1. Let the price settle down in the 5885 zone or lower before taking trade.
2. If price opens with a gap above trend...
Today it was a range bound day, not much move.
On Daily chart Nifty has formed a Doji kind of candle, but as there is no trend and it is in the middle then it is not worth to think about it.
So what next?
Tomorrow I am expecting a bullish day by looking at the market structure and structure is higher high and higher low. Above 11430 I am looking to buy, but...
Colgate Palmolove India has been in a uptrend for more than 3 years. The stock now appears to be reversing from strong support.
Its certainly worth checking for price action and then enter the long ride!
Since festive season is over here in North, I might spare some more time to write on TV.
Let's begin with this post on Nifty. In my last post I tried to time the market in anticipation of a correction. Although market reacted for a few days from there, yet I can't call that a correction. Price-Time analysis has once again been hinting at something but this...
Its been a while since I wrote on the Index. In my last post I marked 10094-10013 as the key area.
Market tested that key area and bounced sharply. Although the Bat pattern could not complete as per expectations, market reacted near 1:1 level (10013) shown in the above post...