The stock already gave a breakdown.
It also crossed 200 EMA.
We will have to wait for the stock to cross the trend line because we have a green Ichimoku cloud support in 1-hour timeframe which might act as support and stock might bounce back.
Currently, Reliance Industries is in consolidation.
Stock is trying to give a breakout.
Stock is above 200 EMA & closed above the cloud.
We have a perfect setup for a breakout.
We can go long above the red trend line.
Pidilite hasn't crossed 200 EMA on a weekly chart since 2009.
We have 3 different support lines to warn us before taking an exit.
The stock has a record of not crossing the 200 EMA for more than 10 years now.
You can accumulate more quantity near the trend line or just invest & forget.
The stock is bouncing around its support area.
It is below 200 & 21 EMA and it is exactly around the last low of march end.
Once the trade is active SL will be the bottom of the support zone - 465/468.
Target will be open as there is no more support for the stock below the current levels in the short term for now.
(310-340 is weekly support)
On the reverse repo rate cut, banks are parking closer to 7-8 Trillion INR (as per the public domain) to RBI to attract the interest of 3.5-3.75%. So where is the lending happening?
No one really knows.
Indian operators can hold the markets but not for very long.
RBI is done with its charades of repo & reverse rate cut.
The stimulus package isn't helping...
200 EMA not letting it hit lower channel & stock is trying to break out from the upper channel.
1. Stock breaks out right away (either by opening gap up or slowly with volumes), but ADX is falling.
2. It can take support at 200 EMA again & then try to breach.
How to trade?
The exact levels will be updated once we have a clear breakout. Our...
Some resistance around the dashed trend line.
200 EMA as support near the bottom trend line & resistance on the upside.
Hence, the stock is moving in a range.
Possibility of a breakout/breakdown.
If breaks out then go long with stop loss at the 200 EMA.
If breaks down then go short with SL at the black trend line.
Target in both cases should be...
Overall the stock is bullish. But right now it is around the upper channel. According to the channel theory, the stock will have to drop to the lower channel.
The stock gave a breakdown a few days ago but it is above 200 EMA so going long is preferred for now.
ADX is falling.
Volumes aren't that great either.
Stock will have to go down and then...
Bharti Airtel has no plans of stopping right now. 3 Consecutive flag patterns.
If the same pattern occurs more than twice the stock is assumed to be extremely bullish/bearish depending on the pattern.
Another breakout & the stock will skyrocket again.
200 EMA is too far away.
Once ADX picks up we will have our breakout.
400-600. 50% move in 2 months.
Nifty has been dancing around 200 EMA since Mid-April. There is some strong resistance above the 9300-9400 level. On the downside, there is no support for nifty except for a positive 50% Fibonacci level.
Nifty might only move out of range after may expiry. As it did in April. Volatility is low for now. If VIX stays below 36/38 nifty will be in a range of 300-500...
Testing an Inverted Triangle Pattern,
Now 200 EMA + Green Trend line acting as support.
If the stock breaches the triangle & starts to move in the upper channel/Old resistance then the stock will be bullish & going Long will be preferred.
But if the stock breaches the support line goes below the black trend line we will go short on the stock.
A Descending Triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows.
The stock is in a clear descending triangle pattern and gave a false breakout around 4300 levels & got rejected around 4100-4200 level which...