Stock was clear bullish for the past weeks and was expected to move up for the next days up to or above the monthly resistance wait for a clear PCC to form above the weekly resistance
With the recent up trends in daily charts and Above EMA levels nice rejecting candles are observed which indicate the above UT movement will be give an opportunity to go long
The stock depicts a clear view of DT as far as Monthly weekly and daily charts. However, as far as 45min chart concerned it gives a moderate uptrend and there was tough Fight between sellers and buyers where the candles were rejecting the EMA and UT
Hence the decision was hypothetical, if DT was respected then it was advised to take short when candles give...
As all stocks show bearish view this was also expected and was going along with markets with a clear downtrend by monthly, weekly and daily charts. NRC and NCC at MDT and WDT will strongly recommend a bearish view. Entry points may take place after breakout of UT and EMA which confirms the selling pressures.
Along with this technical analysis market sentiments of...
Monthly, weekly and daily charts show the bearishness as there was clear breakout of monthly and weekly support levels. However a recent uptrend was detected which was not so significant at the present market scenario and was rejected the resistance showing clear NRCs gives an opportunity to go short as there was downtrend for longer time frame was concerned.
Weekly and monthly charts clearly shows a down trend with lower highs and lower lows, as far as 45 min charts are concerned clearly depicts a smaller green candles and upper wick rejections which confirm a bearish view.
Along with this as oil barrel price increased a short position can give u an opportunity to ooo profit..
