Bounced from fibo level...flag pattern breakout done..
If it comes & bounce from Fibonacci level of 0.5 or 0.618 ..then one can enter early with small SL..
Reliance Daily candle must close above the flag..then only there will be higher possibility to make new in upcoming weeks or month
After Retrace upto 0.5 Fibonacci level in Daily Time Frame & trend line breakout Buying Volume started expanding... Looks good for positional for Target of 1450, 1520, 1590, 1690(As per Fib Extensional analysis)
It keeps moving in a parallel channel from past few sessions. Also 395-400 is good support area..it may bounce again. Hit the thumbs up if you want more detailed analysis on next stock idea
After retracing upto 0.5 fibo level now its trying to cross the resistance zone. But as per volume it looks weak to break the upper resistance level. So, Keep eye on volume activity during breakout. If it break & sustain above the supply level then good to go long or it will get back to its channel again if it fails.
Axis Bank at perfect place! Don't Miss! If it breaks the channel & started trading downside then there will be a good shorting opportunity... If market remain bullish on Monday then one can make a Long position at this place with very small SL
- RSI DIVERGENCE : +ve - TODAY'S DAILY CANDLE CLOSE : Doji candle, AFTER CONTINUOUS SHORT COVERING - FINALLY AT BREAKOUT LEVEL, A GOOD MOMENTUM CAN BE CAPTURED WITH SMALL SL HIT LIKE!! FOR MORE NEW IDEAS. CHECK BELOW LINK: DEEPAK NITRATE AT RETEST LEVEL
- GOOD VOLUME BREAKOUT.. - BREAKOUT IN MONTHLY CHART TOO LET IT COME BACK TO RETEST ITS BREAKOUT LEVEL. GOOD ENTRY PRICE RANGE (825-840) WITH SMALL SL.
Multiple confirmation: - RSI Divergence giving confirmation for upside momentum - High Volume Buying seen in last 15 min(Today) - Trendline almost got broken may give breakout tomorrow Looks good for Intraday or Short term Positional
Short only if trend line breaks
Strong support at 935-945 level.. It can retrace upto 30%-50% from its recent point of sharp fall. Look for price action in smaller time frame for good entry.
Retesting breakout level Looks positive to continue uptrend. 20 MA also supporting in Daily Time Frame. If it sustain this breakout level, then it can achieve target up to 680 or more in upcoming sessions