MAJOR RESISTANCE LEVEL HELD NOW RIDING THE DOWN WAVE
ADANI PORTS IS AT BREAK OR STAY ZONE IF IT BREAKS TO THE UPSIDE CONSIDER A LONG POSITION IF IT FAILS IM GOING SHORT
BAJAJ FINANCE WAITING FOR A BREAKOUT TO THE UPSIDE DUE TO THE REASON THE RESISTANCE HAS BEEN HELD AND THE TRIANGLE SQUEEZE IS IN PLAY
BPCL GOING SHORT ON THE BREAK OF THE TRENDLINE KEEP IN MIND BREAK OF THE TRENDLINE IS IMPORTANT
GOING SHORT ON LOWER TIMEFRAME AS THE HIGHER TF TREND ALIGNS
A CLEAR BREAKOUT TO THE DOWNSIDE OF THE RESISTANCE WILL GIVE US EXTRA CONFULUENCE AND CONFIRMATION TO GO SHORT
PRICE WAS RESPECTING THE RESISTANCE LEVEL AND THEN BROKE OUT OF IT AND NOW IS REBOUNDING BACK TO THE LEVEL AFTER A RETEST WE CAN EXPECT TREND CONTINUATION TO THE UPSIDE.
AS I POSTED THIS EXACT SETUP FEW DAYS AGO AS I WAS WAITING FOR A BREAKOUT TO THE UPSIDE FOR A LONG AND A BREAKOUT TO THE DOWNSIDE OF THE TRENDLINE FOR THE SHORT BUT FOR ADDITIONAL CONFIRMATION A BREAKOUT OF THE ZONE IS NEEDED SO WE CAN TAKE SHORTS BUT AS FOR NOW ITS JUST RANGING
THE STOCK PRICE IS CURRENTLY RANGING BETWEEN 2 BANDS AND CURRRENTLY IS HALTED NEAR THE RESISTANCE IT IS A MAKE OR BREAK ZONE IF IT HOLDS IM GOING LONG IF IT BREAKS AND GIVES US A REBOUND IM TAKING SHORT GOOD LUCK
ON 30 MIN CHART WE CAN SEE A WEDGE PATTERN WHICH INDICATES AN UPSIDE BREAKOUT BUT WE NEED TO SEE A CLEAR CLOSE TO THE OUTSIDE BEFORE TAKING LONGS OUR TARGET WILL BE 950
WE HAVE TO GET A CLOSE BELOW FOR SHORT AND A CLOSE INSIDE THE CHANNEL FOR LONG CHANNEL TRADE
CLOSED THE TRADE ON AXIS BANK AND NOW ITS PRESENTING ANOTHER TRADING OPPORTUNITY IF IT CLOSES BELOW THE CHANNEL IM GOING SHORT THE CHANNEL HOLDS IM GOING LONG ON THE RETEST OF THE ZONE
ON THIS I EXPLAINED WHAT IS WEDGE PATTERN AND HOW TO TRADE IT IF YOU HAVE ANY QUESTION DROP A COMMENT
DUE TO THE RESISTANCE LEVEL WITH CONFLUENCE OF THE REJECTION BAR AT THAT ZONE I WENT SHORT
BECAUSE OF THE DOUBLE BOTTOM AND THE RESISTANCE LEVEL THAT HAS BEEN HELD IN THE PAST AS RESISTANCE THEN SUPPORT I TOOK A LONG POSITION ON ADANI PORTS LETS SEE HOW IT PLAYS OUT GOOD LUCK
MARUTI BROKE OUT OF THE ZONE AND THEN RETESTED THAT LEVEL IM HOPING FOR A TREND CONTINUATION AFTER THAT RETEST.
PRICE IS RESPECTING THE RESISTANCE AND IS NOW IN A WEDGE FORM NEED A CLEAR UPSIDE BREAKOUT FOR A LONG ENTRY