UnknownUnicorn21160479

UnknownUnicorn21160479

0.5 and 0.618 in Fibonacci is a golden zone from where price retraces so here Bandhan bank was following a trendline so to predict that pullback we used fib! We plotted Fibonacci from 165 to 423 (uptrend) and if we observe the reaction to our golden zone we can see it is a very important key zone. It broke out of Falling wedge with a nice breakout with good...

UnknownUnicorn21160479

A perfect breakout setup has : (A) Volume Expansion- Whenever a breakout happens the first thing you might want to check out is if Volumes are increasing i.e. people are getting into it or not. If there is no interest of people in that stock, that breakout might not sustain. (B) Popping out of highest traded clusters- I don't know why but people hardly use volume...

UnknownUnicorn21160479 Updated 

The inverse head and shoulder is a reversal pattern that occur in a downtrend. Imagine a person doing yoga upside down, that's what this pattern looks like so some key takeaways before trading this bullish chart pattern:- 1) The left and right shoulder should be roughly equal, In my chart its inclined inverted head and shoulder pattern so use the tool given by...

UnknownUnicorn21160479

To identify any divergence, first of all look at the current structure that the price is forming like the above case, Bharti Airtel is forming lower lows clearly and when we look at RSI it is forming up Higher lows. Therefore RSI contradicts the price and this tells us that RSI doesn't support what the price is doing so it's a bullish RSI Divergence. RSI here is...

UnknownUnicorn21160479 Updated 

So first of all lets understand Volume Profile . Volume Profile is an advanced charting study that displays trading activity over a specified time period at specified price levels and now lets discuss another term POC (Point of Control) that is the price level for the time period with the highest traded volume that has utmost importance so here GAIL had a...

UnknownUnicorn21160479

Apollo TYRES had a descending triangle breakout with volume and a retest at 224 levels. A good 4R swing trade, enter around 224-225 to enjoy targets up to all time high. Also it showed a good support at 55 EMA and retested at POC (Point of control) aka highest volume zone. A pin bar shows rejection from sellers and buyers win here. Keep SL below the 55 EMA. It is...

UnknownUnicorn21160479

Looking at the chart, 234-240 had been a crucial level for ITC. For carrying up further or taking positions we might want to see its reaction to this zone. So, Go LONG if ITC sustains over this range or consolidates as it can give a good move towards 300 or above. Somehow if ITC breaks the zone towards downside, you might want to average out or buy at dips b/w...

UnknownUnicorn21160479 Updated 

Bullish Pennant/Flag is a continuation pattern that if appears in a uptrend/downtrend indicates further continuation of that trend. Here, I have used the monthly chart of AUROBINDO PHARMA in which it gave a breakout after a major consolidation. Besides that its fundamentally strong and YOY revenue has been increasing. The whole Pharma sector gave a correction but...

UnknownUnicorn21160479 Updated 

Symmetrical triangle is a continuation pattern which if formed in uptrend or downtrend shows continuation of the trend. Gave a breakout and now it is in retest zone. ACCUMULATE only if it sustains or closes over the respective zone or wait for a green confirmation candle. Happy investing!

UnknownUnicorn21160479 Updated 

While trading a breakout make sure you follow this strategy:- 1) Spot a bullish / bearish pattern (LONG/SHORT) 2) Look for a solid BREAKOUT by a green bullish candle (for if you're going long) and red bearish candle (if short) accompanied by a rise/fall in volume and bullish / bearish RSI (preferably above 60 for long & below 40 for short) 3) RETEST - A candle...

UnknownUnicorn21160479 Updated 

In the context of the above chart you may notice the importance of 104 to 115 levels that acted as support during initial years and resistance during the 5 year consolidation and whenever got broke with high volumes has given a very good move towards the crucial resistance of 254. This is a weekly chart so I'm sharing a broader analysis. In this July month we can...