Swing traders can keep watch on Media sector for picking stocks as it has given upside B/O of trendline with very good volume and also showing clear bullish divergence in RSI. Wait and watch for approriate opportunity.
Nifty Media :
Swing High and Swing Low
1)Price Retested Resistance area multiple times
2)Perfect Pullback is done at 50% Fib Level
3)Good Candle Breakout Happened near Resistance Zone
Based on this trend price will move till 2400-2700++ Level
Nifty Media: Swing Low and Swing High with a Fibonacci tool
In the above chart we used some of the technical factors is:
1)Swing Low and Swing High
2)Fibonacci Retracement and Extension
4)Morning Doji Star
1)Swing Low and Swing High Definition :
A swing low is when the price makes a low and is immediately followed by two consecutive higher...
Nifty Media has created the bullish head an shoulder pattern on daily chart .
And it has formed in the major down trend and also took a strong support on support line.
It is a clear indication of reversal of trend but should watch for coming days
Bullish Trend will be confirmed after it breaks the 1636-1646 levels i.e. 0.61 fibo level.
This is my own analysis...
The key levels to watch out are mentioned in the video. Trade as per the levels mentioned after finding a suitable candle patterns at support and resistance levels.
For the accurate levels, Follow me on trading view and Insert this indicator from library or from my profile under Scripts.
In this video i have tried to explain why the media index looks interesting at current levels. this video has multiple studies like harmonics, chart patterns and moving averages which i expect will appeal interesting to others.