ONGC looks strong after a period of small volume candles.
The theory behind such moves is - There is a period of accumulation happening over a time and then a sudden surge in volume to take price up. The price rise needs to follow through to keep the trend going. If you look at chart, there are big green candles and small red candles after the surge. This makes...
Banknifty got stuck in a consolidation zone . the way it kept recovering from days low and getting stuck in upper resistance makes a break away GAP high probability on Monday
A breakaway gap occurs when the price gaps above a support or resistance area, like those established during a trading range. When the price breaks out of a well-established trading range...
Few people asked me when will Reliance start going up and participate in this rally :)
Frankly, hard to guess as there is some really brutal selling happening.
Retracement levels for reliance - 1887 or 1865 with SL 1835
This is a hypothesis - that may or may not work, the basis of hypothesis on charts
Nifty presently is testing a stiff resistance zone. This resistance zone has acted as supply zone for the last 5 times and this is the sixth time it is testing it.
The first time it entered this zone on Oct 2007, kept consolidating and finally failed on Jan 2008
Second time in Jan 2018 - touched and got rejected
Third time tried again on late Aug 2018 and...
Nifty has retraced quite a lot after falling due to pandemic . It has very high chances to correct and consolidate as the economy and the stock market can't show such divergence for long
question is - when will it start correcting and what happens next
- FII has been buying like anything last week, US markets all-time high, so it...
ESCORTS couple of days before had a false breakout for inside bar
The Fakey pattern can be best be described as a “false-breakout from an inside bar pattern”. The Fakey pattern always starts with an inside bar pattern. When price initially breaks out from the inside bar pattern but then quickly reverses, creating a false-break, and closes back within the range...
Details on the chart
Take Entry as near to SL as possible for better Risk Reward or safe traders can take entry as marked on charts
If SL breaches, exit as the hypothesis will stand invalidated in that scenario
Refer charts Nifty looks to be forming ABCD pattern
in addition on Friday, it has crossed 200 DMA , that will give some bullishness in the coming sessions
Trade setup - once the price sustains above point B on chart in a 30 min candle, can go long with point B on chart as SL
P.S - Take an entry only after initial noise of the market settles, usually in...
BNF gave a breakout from descending triangle pattern yesterday. we may see a GAP UP opening today near the resistance zone, if it able to break the resistance zone, we will see rally on upside but if is not able to break it, we may see BNF re-testing the triangle line
Dow futures after giving a false breakout and today has given a strong fresh breakout that may sustain
if it is able to take down the resistance today, it may start its journey towards the target mentioned in charts
There is a possibility of slight consolidation as well if it struggles with the resistance
details on charts
Nifty after consolidating in a range for 3 days gave a downside breakout. DOW yesterday gave an upside triangle breakout and forming an expanding wedge pattern that denotes extreme volatility
It is in all possibility Nifty to follow the DOW pattern today
Trade setup provided on charts
Pls do keep a watch on SL levels 10689 - below it - the hypothesis stands...
Bank Nifty has formed AB =CD bullish harmonic
it was quite a volatile US market NASDAQ swinging from been up 1.9% and closing down - 2.1%. This may lead to indian markets opening GAP Down
Try to enter as near to SL for the maximum benefit of risk-reward.
Targets mentioned in the charts
Inside bar in Infy could not breakout and came back inside the range again.
In most of the cases, the direction reverses after a breakout failure
Trend lines are something that attracts price like a magnet and Infy is trading quite near to trendline resistance, That may cause price to rise to touch the trendline and fall. That's one of possible scenario for...
In continuation of my earlier view on Axis Bank , the inside bar didn't gave any breakout and formed a perfect doji
doji inside an inside bar signifies indecision and congestion. its like a compresses spring going to be unleashed.
A possible way to make the most out of it would be
in equity or futures
buy above 441
sell below 419
buy a 410...