formation of a bullish triangle with bullish divergence in the MACD and bearish RSI so I feel a pull back to the support and then we break the bullish triangle. Measured move and target mentioned, start taking profit early and wait for breakout of bull triangle for a safer trade.
IdeaVodafone has gone through two phases of Price Action, Accumulation, Advance phase over. It is in distribution phase. Traders slowly offloading their holdings. It is at crucial support, be careful to enter with Strict SL or avoid. Decline will be unstoppable! (Take this as educational only)
It is been observed on the hourly chart that the price action is forming a continuation pattern after breaking downward channel pattern.
It shall be a good opportunity to take a part in it once it closes above 93 levels.
I shall update the targets later.
It is been observed on the hourly chart that the price action consolidated in a downward or a zig-zag correction and now it has broken above the downward trend line indicating buyers come back. It shall further take the prices up from the current levels.
Its seems like a second pullback after Idea-Vodafone merger. If the price goes up on the coming days with considerable volume - its a LONG opportunity; however keep the stoploss just below the trend line .
It is been observed on the hourly chart that the price action consolidated within a channel or flag formation and now it has broken above the channel and moving towards the next resistance level.
It is been observed on the daily chart that the price action breaks and closes above the downward trending line, indicating a bullish move ahead. On the chart, point X and Point A marked to calculate 61.8 retracement target.
It is been observed that the price action is trending down on daily chart. Now, the price action is breaking out from a Descending Triangle, indicating bearishness and selling pressure.
Target 2: 78.50
On weekly chart, it is observed that the price action breaks out of crucial support level of 82 which signals further bearishness in the price action and the prices shall move further down to 70 levels where the next support located.
Good time to Short Idea Sir Ji
The price action is been trading within a triangle formation and today we could see a clear breakout from that it may now go upto 97 levels to fill up the previous gap on daily as well as on hourly charts
Vodafone Idea Ltd. engages in the provision of telecommunication services. It provides pan India voice and data services across 2G, 3G and 4G platform. The company was founded on March 14, 1995 and is headquartered in Mumbai, India.