CNXEnergy will be an absolute avoid from a long perspective.
One can see that the RSI is losing a lot of strength and the index is unable to make higher highs.
We have witnessed this kind of pattern during 2018,2019 and we all know what happened in 2020.
It can dupe by a small movement but one need to observe if the index is unable to make a higher high then...
Key highlights: 💡⚡
📈 Index is moving in Upward Moving Channel since 4th Nov 2020 as mention in chart.
📈 Index is taking exact support of lower trend line.
📈 MACD is also giving Crossover.
📈 One may go for swing trade into ENERGY SECTOR.
KEEP AN EYE ON ENERGY SECTOR STOCK.
EXAMPLE - ADANITRANS , RELIANCE
⚠️ Important: Always maintain your Risk & Reward...
The energy index looks bullish on weekly charts as there are no signs of weakness.
As the Heikin Ashi chart has been making green candles also the structure of the chart is good.
The overall feel of the chart is good.
On daily charts the price is on the bottom of parallel channel and on the same pivots.
Renko is also making a green brick.
The stock may face high...
Key highlights: 💡⚡
📊 Currently NIFTYENERGY is giving breakout of Symmetrical triangle.
📊 and 29304 is its resistance level we can see rally of around 1000 point.
📊 but into RSI level 72 is working as resistance level twice.
📊 Keep an eye on both things RSI as well as price movement.
📊 One can go for long into ENERGY SECTOR.
📊 Example : ADANIGREEN , ADANITRANS ,...
CNX energy is moving as per chart.
Even during weak market conditions , strong pull up seen in CNX Energy index.
NTPC & Tata Power looking very strong in this market.
Above all necessary daily , weekly and monthly moving averages.
Keep watching these stocks and Index
** For education purpose only**
#CNXENERGY still a weak sector on DTF basis price action. It seems like a possible H&S Pattern in the making with neckline as the middle of parallel channel. Also since the price is below the MA's and in a down channel my overall view remainsBearish for this sector. Shorts recommended
Energy, Oil & Gas, Power Stocks clearly Avoid Long
Some stocks for the sector...
1. The sector is currently in uptrend making Low, High, Higher Low and Higher high
2. Also, its taking support at trendline
3. And, another support comes at horizontal levels of 25511
4. Any closing below 25511 will change the structure of the trend
Nifty Energy: The index in continuous uptrend, retrenchment will give an opportunity to accumulate stock as mentioned below.
RELIANCE: The low of 18-04-22 weekly bullish candle i.e. Rs 2500 will be a critical level. Any reversal candle the same level will be opportunity to accumulate, otherwise simply avoid.
TATAPOWER: Since Jun’20, the price has not...
Nifty Energy is forming inverted Pole and Flag pattern on 15min timeframe, once the lower trendline of the flag is broken, this could go down till 28000
Keep a watch on this index
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NIFTY ENERGY is leading NIFTY 500 benchmark. Breakout from a small consolidation seen in the week of 28 March 2022. Good sector to pick names like TATA POWER, Adani green, Reliance, Powergrid and NTPC as these have momentum.
Nifty Energy weekly chart shows that the index has formed a Cup and handle pattern and looking at the ratio chart of Nifty Energy viz. Nifty, in monthly TF one can see the ratio chart has given a fresh breakout and retest.
Nifty Energy index wee placed for a breakout and outperformance going forward
Ratio chart: NSE:CNXENERGY/NSE:NIFTY*100
This is daily chart of energy sector i can see the clearly big move from here
but we can focus the level of 25419 if this level breach with strong green candle then we can clearly see the big rally in energy stocks dosto
keep eye in energy and metal sector dosto ...
NIFTY ENERGY is on the verge of ATH breakout. Outperforming Nifty 50 index also from Mid jan'22. Seems power sector related stocks will do well in coming 1-2 months. Ongoing summer season will also increase the demand for power.