Maruti has been moving in an uptrend channel. Currently its in consolidation phase on this smaller time frame where price drifted down to 5885 zone. It may retest this level again before breaking out of the trend line for a target of 6025-6050.
1. Let the price settle down in the 5885 zone or lower before taking trade.
2. If price opens with a gap above trend...
The stock tried to bottom near March 2020 lows which also coincided with the 23 Oct 2018 gap zone at 2083.
After a couple of attempts the stock finally broke the lows in April and took support near an important monthly level at 1912, which has also been 61.8% retracement of BajF's life time bull market. The stock faced a strong upside bounce of 26%.
It tried to...
Bajf had a strong sell of which drove it back below the axis line. There could be a possible short setup which i ll present on the lower time frame. For more information on the Axisline topic read my previous post.
Its not uncommon to see a stock trading within a range but its uncommon to see a stock playing around the axis line in a disciplined fashion on higher time frames.
For an axis line to develop, firstly we should have an uptrend and a downtrend line converging at the apex as in this case. After that we should look for points where the price is rejected multiple...
The stock has been confronting with a heavy selling pressure near 1820 zone since September 2019. I can clearly observe 3 to 4 million share prints around this level. Even the March 2020 fall began with a 6 million print in the same zone. Currently the stock has been testing the 1820 zone and again there is a 3.7 million share print.
This observation has been...
BTC went through a strong bearish phase till middle of March and entered in to a weak rally till first week of April. Since then it has been showing signs of weakness as shown by the simple trend following (High-Low) mechanism on the chart.
If the current trend continues we may see 5850 and 4810 test.
I do not trade BTC and all the above views are personal.
What market doesn't like is high volume and it hates when it is immediately followed a clear sign of distribution. Its definite that smart money has taken advantage of the parabolic markup and they have started to sell at their favorite auction price. They trap the gullible retail trader at the top and drive the price down to the potential stop loss of the...
The indices may give a 1000 point push beyond day high but we need to look for strength beyond this level. On the flip side any weakness below the spring may take us to 18000 or lower.