SBIN has made breakout of 565 levels and made a close above it.
RSI is above 60 levels and banking sector has outperform nifty with help of this stocks.
SBIN has its earning release on 30th may.
Stock has retested levels of 565 and taken support at that levels which means SBIN is not likely to go below 565 levels.
SBIN has next resistance 595 levels where we...
Double Top in Bitcoin
Crypto market has shown bull and bear cycle in very short span of time.
From rising from 10000 usd to 69000 usd and from 69000 usd to 16000 usd in span of around 2.1 years
I think it is fastest reversal of any new tradable market.
Double top means making almost two equal highs and failure of bull to make new high while bears pressure of...
Silver was uptrending in previous weeks but it has faced rejection at crucial levels and currently there is breakdown of support in silver with RSI below 60 levels.
Silver is kind of swing instrument which means it will swing between resistance and supports and as a trader we should sell at resistance and buy at support.
Silver is trading below 5 EMA with RSI...
NHPC has made breakout in monthly timeframe.
NHPC has formed rounding bottom pattern in monthly timeframe which specifies clear target of Rs.52.
One can enter the trade with clear SL of Rs 42 and keep target of Rs.52.
RSI indicator is also showing stock is in bullish momentum.
Traders are requested to keep their own analysis and risk management in stock.
Bullish Harami is candle stick pattern which shows counter attack by bull on bear entering the support zone.
Significance of candle stick pattern is at support level of charts.
Bullish(Green) candle should gap up from close of bearish(Red) candle and close should be above the median of bearish(red) candle with volume.
Granules India has maintained support of 340 price level after breakout.
As identified in chart, Bull has made counter attack the bear candle.
RSI is also increase by taking support of 60 levels,this shows stock is still in bullish momentum.
If volume is consider, current candle has above average volume.
Target of 395 can be achieved in upcoming...
Granules India is uptrending stock and recently given breakout in monthly and weekly time phrame.
Still breakout levels are maintained and retesting of same is going on,this is good time to buy and as bears are not able to close price below breakout levels.
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Hammer candle stick pattern is important pattern shows counter attack of bulls.
This pattern has significance when price is near crucial support or near long term moving average.
Hammer shows that bears are unable to beat the bulls and not able to make close in bulls territory.
Bulls also shows their presence when price enters in their...
APLAPOLLO NSE:APLAPOLLO is uptrending stock in tyre manufacturing industry.
Considering consolidation from long period since september 21, stock has made breakout today with high volume.
RSI is also crossing level of 60 which shows bull are aggressive in buying and seller are requiring premium to sell.
looks like Stock has completed A-B-C correction and may...
Granules India Limited has made longterm line breakout in daily timeframe.
Nifty Pharma is also in upward momentum and this will support Granules India in up trend.
RSI is also crossing 60 level and bollinger bands are expanding.
Bollinger band are standard deviation of average price of stock and expanding Bands show there are chances of big move in stock.
SBIN has completed A-B-C Correction and new impluse may start.
There are divergences seen in RSI which indicated seller are losing strengths.
There was also short covering in October futures which is also buy signal as people who were short in SBIN are booking there profits and buyer making new buying position.
Traders are requested to do their own analysis...
Double top formation with momentum on downside.
Renuka Sugar has formed double top formation in daily time frame and Longterm investor should be cautious in this stock as major reversal may happen in this stock.
Momentum on down side is strong as RSI level is below 40 and volumes has been increasing in down trend.
Bullish trade should be avoided in this...
Flag and pole is continuation pattern.
USD/INR is in up trend since long time and currently it has done break out of flag.
Target 1 is achieved based on size of flag.
Target 2 is pending for achievement and may achieve in upcoming time.
Traders are requested to do their own analysis.
Please mention your view in comment.
In Silver, we have seen double top pattern forming in 3 hourly timeframe.
The double top pattern is reversal price action where prices make almost two equal high from the previous support price levels.
Silver is in down trend in daily timeframe as we can see and rejection from resistance level is good level to short.
There is bearish divergence on top of double...