SnowballPro

SnowballPro

Four simple TA tools and pure actions to understand what happened today. Nifty opened with a huge gap-up, rose to touch a falling 20EMA, and by the mid-day gave up all the gains. "Gap-up filled". In the second half of the day, it breached the 10600 resistance level, making the yesterday's breakout as false breakout. Longs got stuck. Long unwinding and panic...

SnowballPro

The log-normal monthly chart of NSE IT. The price is approaching the upper part of the rising parallel channel.

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The log-normal monthly chart of NSE Pharmaceutical. Correction in the sector is over and it's a great time to accumulate pharmaceutical stocks.

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The log-normal monthly chart of BSE Metal.

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The log-normal monthly chart of NSE FMCG. The price action broke out of blue parallel channel and since then trading in narrower and steeper yellow parallel channel.

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The log-normal monthly chart of NSE Auto. The support is observed at the lower part of the parallel channel. Great time to accumulate sector stocks.

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The log-normal monthly chart of NSE Bank.

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The log-normal monthly chart of NSE Smallcap 100. The yellow, steeper, up-trend line is providing support to the price.

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The log-normal monthly chart of NSE Midcap 50.

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The log-normal monthly chart of Nifty Next 50 shows an uptrend intact even though prices are trading in lower channel.

SnowballPro

The log-normal monthly chart of Nifty shows that since 1991 the scrip has formed two parallel channels. The yellow one is the bigger picture of the index, suggesting that even though the trend is up, we have been hovering in the upper channel. Certainly, it is an expensive market. The blue channel, which started in 2003, the inception of 2004-07 bull market in...