On the weekly chart it has completed the wave 5 retracement and looking to start new move . Changing the direction towards upmove. Target of 7400 in next 35 days /
ATUL CLOSING 6953.8 with stoploss 7025 then targets are 6650-6200-5700.
Selling Reason.
1 --> Price action create the weak move and close below support.
2 --> #RSI is below 40.
3 --> ADX is show the #Bearish move and -DMI is rise.
4 --> #Volume is not rise and selling volume is also rise.
5 --> #Bollinger Band are open in Negative Side.
ATUL Ltd Cmp 8444 dated 3-11-2022
1. Pennant Pattern on chart
2. RSI Reversal
Buy above 8460 for target 8550-8730-8810-8930
SL 8300
Disclaimer :
I am not a Sebi registered Analyst so please do your own Analysis before taking any action.
The above view is shared just for educational purpose.
By no means shall be...
Cup & Handle Formation signs:
1. Volume dry-ups near the lows of the price pattern.
2. Big volume spike on reversal of price pattern.
3. Volume dry-up on the price pull-backs.
4. Improving Relative strength.
5. Tight areas in price pattern under accumulation.
6. Trading above 200 MA
How to trade it?
1. Watch out for Volume percent change on pivot breakout.
2. The...
Atul limited given a breakout on falling resistance and seems a big jump in volumes so it can be called a breakout on volume indicator, and breakout with volumes on falling trendline too. And it breaks the upper band of Bollinger indicator that's why i took only upper band of Bollinger bands indicator..
Cause of Long-:
1- Falling trendline resistance...
