RSI: Bearish divergence
Channel: Upper end
A 6% drop can be expected.
Use your own SL levels (prefer), if confused follow the mentioned levels.
Expected Level: 194.55
(This is only my opinion, not financial advice. Consult your financial advisor before making any decision based on it)
Animesh Vashisht, CFTe
Levels mentioned on chart.
(This is only my opinion not financial advice)
Do not carry the position home. This is a day trade only, posting at 1.50pm will be available for viewing at 2.05Pm (Tradingview time)
Do not enter if price goes too far from the rec price. Improvise)
Monthly chart CNXPHARMA
Price action: Blue arrows show higher top and bottom
Line studies: Price moving out of red downtrending channel
Averages: Support at 200 period EMA in June 2018 and Feb 2019
RSI: Bullish divergence + trending upNSE:CNXPHARMA
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WEEKEND SPECIAL: NUMBERS TO KNOW BEFORE THE OPENING BELL TOMORROW 24/12/2018
At 7.10 PM IST, 23rd DEC 2018,
GLOBAL MARKETS UPDATE
Dow Jones Industrial (USA) 22,445.37|−414.23 (1.81%)|
Dow Jones Transportation (USA) 8,874.79|−155.15 (1.72%)|
Dow Jones Utility (USA) 722.38 |−7.04 (0.97%)|
NASDAQ100 (USA) 6,046.56|−196.64 (3.15%)|
It is important to understand that primary trends of stocks, bonds, and commodities are determined by the attitude of investors during unfolding of events in the business cycle. An understanding of the interrelationship of credit, equity, and commodity markets provides a useful framework for identifying major reversals in each.
MARKET MOVEMENTS AND BUSINESS...