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The stock tested the Initial Balance at the downside and reversed from 1050.
The retracement should have greater volumes and momentum and
wide range candles than the bearish candles to gain strength.
Failing this, it will continue its downward journey or simply trade in the range.
We will see what happens throughout the day.
Check for updates and any trade signals
Tata Steel has been enjoying a great run lately due to positive global news for the sector
The stock has rallied from a low of 250 to CMP 423, a 169% growth
The stock is trending on Daily charts.
However the stock will have to break 440 on weekly charts with momentum and high volumes to enter a new zone
The stock is trading above all the major averages including...
After a great RALLY from 486 to 647, there has been huge selling on 30th July
with more than 25 million shares traded that day.
However that did not break the prices and there was a small price correction.
The intersection price of 608 is important.
An upward move is expected if sustained.
The 30 min chart on Market Profile shows weakness.
Although a trade with...
The chart is self explanatory
The stock has recovered from the crash of March 2020
It has gained from its low of 443 to a 52 Week High of 830 up 183%
The MFI Divergence is a concern at the moment
The MFI is at 23
The stock has strong support at 700 and 643
The Control Price is at 616 and is positively looking to shift base to 751 levels on Market Profile
IRCTC has seen the best days since its listing at around 625
It managed to soar high and make a 52 Week High at 1995 within 6 months in Feb 20202
However it seems that the heydays are history as the Stock is getting weaker by the day
There is a serious contraction in volatility.
The Money Flow Index is at 16
The daily trading volumes...
GTPL Hathway Ltd had a golden run in past few weeks.
From a LOW of 32.35 on 23rd March 2020 the stock has managed to show a very sharp recovery of almost 302 percent.
Great things about the fundamentals:
Company has reduced debt.
Stock is providing a good dividend yield of 3.06%.
Company is expected to give good quarter
Company has been maintaining a...
The chart shows that the stock has all the ingredients to go up and break the 52 Week High that was recently achieved. However the DAILY chartshows some critical points.
Points to Ponder:
Price in Overbought Zone with MFI @ 82
Last 6 candles are narrow, have small bodies
Consistent Rejection from 227 levels
The Stock has Control Price at...
Looks like Tata Motors is heading up. The chart suggests that it is attempting a Breakout near 120.
Points to ponder:
1. The candles of last 4 days have a small range and small bodies which may suggest a breakout. But not necessarily.
2. The volumes are decently mediocre. Nothing extravagant in that.
3. The retracement candles are red and bigger than their...