NeeteshJain

NeeteshJain Updated 

It is been observed that the price action has previously breaks out from a channel as shown in Tata Steel chart (link given below) and then retrace back to the previous channel trend line, forming a V shaped signaling completion of retracement and now the price action shall further move down toward 1660 target levels. Risk/Reward: 1/5 Target1: 1660 Stoploss: 1800

NeeteshJain Updated 

On weekly chart, it is observed that the reliance is breaking out from a ascending triangle indicating trend continuation and strength in price action. Now it shall reach to 1140-1150 levels before it retaces back. Target:1140 Stoploss: 1040

NeeteshJain

It is been observed that the price action breaks through the preceding diagonal wedge and also trending up in a uptrend channel. It shall move further up from the current price action. It may also be consider a a long term investment from now onwards as it breaks monthly resistance levels of 341 today. Next Target: 365 Stoploss: 330 It is good to be back on...

NeeteshJain

As observed on weekly chart, the price action breaks out from a consolidated down-trend channel, indicating shiftinh of dominance power on prices from bears to bulls. Now Bulls shall reach out for previous resistance levels at 550-560 levels. Target: 550 Stoploss: 480

NeeteshJain Updated 

Today's price action indicated weakness as it failed to reach out to previous high levels of 8840. I believe sellers are now in dominance and the prices shall further move down tomorrow. Target 1: 8747 Target 2: 8700 Stoploss: 8840

NeeteshJain Updated 

It is been observed that the price action moving in a uptrending channel. Currently the price action has reached to the uptrend channel resistance, it will be interesting to watch from here on that the price action will break above the resistance or retraces back to the support levels of the channel.

NeeteshJain

It is been observed that the price action on daily chart formed two channels. Firstly a downward trending channel and secondly the upward moving channel. Indicating price change movement and change in control of dominance over price actions. Channels are powerful tools when it comes to finding trend. Therefor I would highly recommend to beginners to practise it...

NeeteshJain

On hourly chart, the price action is trending in a downward trend channel as it is making lower Lows (LL) and Lower Highs (LH) indicating weakness and bearishness. Refer to educational series on Channels to understand it better. (Links provided below) Target: 317.50 Stoploss: 340

NeeteshJain

This is the third education series on Channel (link of Educational 01 and Educational 02 given below), In this educational post, I cover up points that provide trades opportunity in a trending channel. Steps To Follow: Step 1: Connect Two Higher High Points to Draw a Trendline Step 2: Connect Higher Lows points, take a buy call Step 3: Buy at pullback with...

NeeteshJain

On monthly chart, the price action indicates a change in trend. Why is it a Change in Trend: 1. Price action making lower Highs (LH) and Lower Lows (LH) on monthly chart created a downward trend channel. 2. Now the price action made a Higher Low (HL) as indicated in above chart that indicates rejection of lower prices and buyers entering market to control...

NeeteshJain

The price action on weekly chart forming a small uptrending channel that might get a breakout next week. Put it on your watch list as the breakout shall provide good returns. Also consider the channels formation as educational example. Try building your own as it is easy to form and effective in use. Trade with care, Appreciate your support. Regards

NeeteshJain

This is the second education series on Channel (link of Education 01 given below), In this educational post, I cover up points that validate a Channel and benefits of drawing a right channel. Validation points are as follows: Point 1: Two Parallel lines Point 2: Higher High and Higher Lows in Uptrend and Vice-versa. Point 3: Two compulsory touch points in...

NeeteshJain

The price action is been trading in a leading diagonal pattern which is now indicating weakness as higher prices rejected by sellers and sellers are now in dominance. I would suggest to short this one on every rise. Target 1: 850 Target 2: 825 Stoploss: 940 Trade with care, thanks for your support.

NeeteshJain Updated 

The price action filled up the previous gap and now showing weakness at that point. It wise to take short positions and cover longs. Target:19415 Stoploss: 20350 Trade with care, I appreciate your support. Regards

NeeteshJain Updated 

The price action on hourly charts indicates that there is high selling pressure that has broken out from preceding diagonal pattern. It simply indicates weakness and dominance of sellers. Target 1: 1668 (i.e. Fibs retracement levels of 0.382) Stoploss: 1840

NeeteshJain Updated 

The above posted chart is a preview or quick snap shot of markets movements for past couple of days for retail traders to get some alignment with market and make inform decision by taking following factors in consideration 1. Showed GAP UP 2. Bearish Trending Channel GAP Down 3. Consolidation between 8745 -8690 Now, looking forward for a breakout from either...

NeeteshJain Updated 

It is been observed that the price action covering up the previous gap down and now looking weak at previous support which is now acting as resistance. It is good to short it now with stoploss at 8900

NeeteshJain

On monthly chart, the price action formed a cup and hanlde formation, indicating bullish trend to proceed in coming months. Now, the price action is ranging in descending triangle and the breakout from there shall decide the further movement in prices.