The stock tested the expected 1180 zone (see the following post) and was slammed down to break the channel.
Possible supports have been mentioned on the chart.
Hit like for better posts in the future.
What is exhaustion?
The exhaustion is a stage at which buyers are tired out(in an uptrend), either because the price made a new all time high too fast with a huge gap (where the valuations are unacceptable for the buyers) or the price ran too fast into a resistance zone where the buyers do not want to buy because of supply risk at the resistance.
Normally both ...
BAJF took support near 1967 level and is forming higher lows and higher highs. It might taste 2453 again and then 2580. A closing above 2600 will take the stock to 2650, 2760 and 2870.
The 2233 low is still a potential higher low and will be confirmed above 2475.
The Investment Points:
It can be observed from this weekly chart that in the bear markets of 2011 and 2015, the Index formed bottoms near 200 EMA. Those yellow circled marked on the chart proved to be excellent buying/investment opportunities. If I have to load my money for greatest investments, it will be at the same point.
Nifty Took Support ...
For me, an indicator is a tool that provides me a message how the market 'may' behave in future. Which not at all means that the market 'will' behave as has been indicated. Almost all successful traders will agree with me if I say that there are no 'Red' and 'Green' signals in the market.
For example in the current market scenario, the index has been drifting down ...
There is a Bearish Bat formation in the making. Also there is a gap fill zone near the BAt PRZ. So I do expect some resistance at 10440-10470 zone. It could be a zone to book profit on long trades. I will wait for price rejections before initiating any short.
If you press the play button in the following post you will see that the market overshoot a little above 11600 target marked with a yellow arrow on the chart. Not only that it overshoot the price target but it also overshoot the time target. According to fib. time zone projection, the target was to complete in March 2019. But the target was achieved in ...
I think market is at a crucial juncture so there is need to do some analysis.
Market has been in a very choppy range for the last week or so. The minor trends in this range were down as market has been making lower highs and lower lows.
What if this downtrend continuous?
Market has tested an important 50 % retracement level of 10856 on Friday. If market breaks ...
Long trade will be opened above 345 for 355-362 zone target.
A tighter stop could be below 336 but the pattern stop is below 325.
If stock falls instead of opening long trade above 345, sub-patterns can be seen on lower TF for better entries.
There is one more reason besides cypher that I am looking for pullback? The hint is in the chart.
Trade only if you can ...
I was looking for a harmonic pattern completion (on the downside) before getting involved in this stock. But the stock changed my bias by breaking above a falling trend line (red) and the cup and handle pattern neckline.
For getting into this trade, the risk could be (traditional) low of the handle (162) or the more aggressive 170 (calling ...
Here I come with another educational post. This time I will try to explain the breakout failure pattern along with the psychology and manipulation behind them.
For the sake of simplicity, I am taking examples of historical support and resistance levels. I will only explain the breakout failure pattern assuming that the breakdown pattern will be read upside ...
VWAP stands for Volume Weighted Average Price. In simple terms it is the average price weighted by volume. Don't worry I ll explain.
Firstly the average of the high, low, and close: (H+L+C)/3, is calculated (technically known as the typical price). This typical price is multiplied by the candle's volume (depending on time frame used). The ...
Take it as educational unless you understand the details of this strategy. I suggest you to backtest yourself, to understand entries and exits, before putting it in your trading repertoire.
Only Long trades when price > 55 EMA
Only short trades when price < 55 EMA ...