The range is drawn with the help of trendlines.
It is highlighted with red and green color, red being the resistance range and green being the support.
Relative strength is gaining but there is one catch,
This indicator works on the relative price of the past few days whichever is set as per the preference. If you see the past few months BTC is in the...
It has been observed only once before this, it was seen last time in the 2008 crisis.
This could be an alert ⚠️
The regression channel is still intact, price is trending within the channel.
The previous low of 10440 could offer support, below that things could go worse
The price has come out of the regression channel and took a bearish path.
Considering the price pattern structure, it was expected the market to spend some time around important breakouts, this time it was about price sustainability over ATH, as we broke the previous high of 18600, it was expected the price behavior to become sideways, this is a usual phenomenon...
It seems to be a major reversal pattern since a downfall. Through the volume, you can grasp the accumulation of supply, it has been absorbed a lot.
Exciting to see how it unfolds because it has taken thin support at the 19000 level.
Considering the current dynamics, it may go up till
24000-24300 range, then it could face some resistance.
Need a strong stimulus in...
There is an interdependency between them but not to the extent, that people considered it to be.
Indian IT stocks have shown much resilience and hold their position better despite the sharp fall in the US market.
There are a few challenges to this sector
3. Fear of recession
In case of recession, it will be beneficial for western...
Last week, we saw a huge sell-off, that resulted in the formation of a shooting star. Such a pattern has major implications if it is seen at top of the trend. It depicts sentiment reversal.
Last, to last week we saw a dark cloud formation, now the following candle is a shooting star.
It clearly shows the overall sentiment.
Same thing you would observe if you see,...
It is formed by two candles, the first candle is bullish candle which indicates the uptrend.
The second candle is a bearish candle which opens gap up but closes more than 50% of the real body of the previous candle which shows that the bears are back in the market.
Pattern has created the range of 17500 to 17900.
Bulls are again trying to take control....
Another reversal pattern at important juncture,
It seems like profit booking has occurred at supply zone.
Evening Star formation :
The support holds at low of first candle and same level has been tested today
17300-350 level is the point of the control zone , it has maximum volume spread.
Price pattern has created a confluence zone ,
It would act as...
Basing : Its accumulation phase where smart money comes in, it acts as a base.
Here price may follow the previous trend or shows reversal
Always take partial position, don't get trap by infusing entire position.
Volume activity remains low and you may see some heavy buying at support.
Psychology : participants are not ready to participate actively, it lacks...
It looks like Megaphone, Usually the price is hitting higher highs on the top resistance line and higher lows on the bottom support line.
Easily spot at the top of the trend.
How to trade it?
For downward breakouts, use the lowest valley in the pattern as the target. For upward breakouts, consider the difference between highest and lowest valley as height for...
Linear Regression Line:
The line that fits all the data points, in stocks is considered the line where the majority of the price action is distributed.
" R Square" value
It deviates in the range of 0 to 1, the closer the value to 1, the better it is
It defines the Best fit of data.
Upper Channel Line: A line that runs parallel to the Linear Regression Line and...
1. What is the Ascending channel pattern?
- Price trade within the range in an up trend, it forms a higher high and higher
- The channel provides support and resistance
- Until prices continue to advance trade within the channel
- Volume Activity turns stagnant
2. How to trade it?
- If it breaks above the resistance line, extrapolate the channel...
What is a bear flag pattern :
A bear flag pattern is a continuation pattern that resembles an upturned flag with a pole. It shows a continued bearish downtrend broken midway by a pullback – the upward channel or triangle representing the flag.
1. The pattern can be misleading if the retracement or the flag is larger than 50% of the pole.
2. RSI will...
What is the Breakaway gap?
It occurs when the price goes above the resistance or below the support. It changes price direction from the existing chart pattern.
Here, there was a price trend for 1 month where prices were trading in the ascending parallel channel.
But on the 13th of June, it changed its direction.
Impact of Breakaway gap?
It creates a strong...
We had an eventful week, market participants were waiting for interest rate results to get announced.
After the historical rise in the inflation rate, it was obvious to expect some strong majors from respective authorities. This may continue for the coming few months.
Now we have come below 15800, which was one of the most critical support zones, considering the...
1.Bullish Engulfing : The first candlestick is a red one, and the second is green. A green one “engulfs” the red one because the body has a lower opening price and a higher closing price
2. Evening Star : You need three candlesticks to see this Evening Star pattern, a green candle with a long body, a short green or red candle, and a red candlestick.
Last 2 weeks, we saw a pullback in the market.
There was a formation of twizzer bottom, followed by a hammer. It indicated strong buying.
We could see this rally up to 16800, it is critical resistance.
This is a short term upside opportunity
Since the Last blog on Nifty, we came across plenty of news, including repo rate hike, Fed rate hike, war-related tension, and inflation.
The entire global market reacted to it with extensive selling.
In the Indian market, FII has sold more than 17000 crs of their holding, which is equivalent to October 2021 stats but this month we still have half a month to...