NIFTY_OIL_AND_GAS - Short term bullish view? Check the alt view
Talk of the town now is the OIL & Gas Sector..
My counts and probable path are highlighted the chart.
primary view is that price could move up to 11500-700 levels in wave 4 and face resistance there..
Possible Reasons/Rationale are
Cloud Top
200 DEMA
50% retracement of the fall from 2nd wave
Tr
Are you LONG on OIL & GAS Sector? BPCL/HP/IOCThe resilient price move on OIL & GAS Stocks on 19th December would have convinced most of us to go long on this counter since it is showing strength in a weak market.
But if you look at the sector on the whole, it hasn't completed the final 5th leg down yet. The chart is self explanatory.
Ideally
Nifty Oil and Gas sector indicates start of an uptrend.The Nifty Oil and Gas sector looks bullish on daily charts.
Daily Chart
This week we see the weakness in the momentum when we have a negative HA candle with a strong body on the 13th of September. Now the momentum tried to recover from the weakness with 2 green HA candles. But both of these candl
Nifty Oil & Gas Index breakdown the Fib convergence levelChart type: Heikin Ashi
Time frame: Daily
Fibonacci Retracement Drawn Data
First Swing 18.51%
Second Swing 11%
Convergence levels:
Mark 7900 (convergence - 23.60% of first swing // 38.20% of second swing)
Mark 7713 (convergence - 38.20% of first swing // 61.80% of second swing)
Analysis Note
Weakness in Nifty Oil and Gas SectorChart type - Heikin Ashi
Time frame - Daily
Indicator - Guppy Multiple Moving Average
Today we have a Red HA candle with a strong body which shows a countable decline in the momentum. Also a day before we have a doji candle at the top of the uptrend which is a sign of trend reversal. But I wait for
Oil and Gas Sector Index Analysis, Levels and Trade ZoneHello Trades,
I shifted my focus on the Oil and Gas sector.
From Sep 21 to Sep 23, we see the price is moving around a price zone of 7710 to 8164. This zone acts as a resistance. But recently on the weekly chart we see a bullish crossover below the resistance zone and the price has entered the res
NIFTY OIL&GAS SECTOR - CHART ANALYSISAnalysis Criteria Used:
1. Please find the Chart Analysis done for the NIFTY SECTORS for the upcoming week and the following days
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in pl
See all ideas
Displays a symbol's price movements over previous years to identify recurring trends.