BPCL is currently tranding in the Channel. If we ignore the volatility in the Nov 2019.
In Sep 2019, Seller started showing interest and created a crucial support zone for BPCL
So, today i am expecting valid breakout. BPCL may retest 465 level serval time before hiting first target.Lets see.
It seems that nifty is bullish now a day. i am assuming that, We will get reversal from highlighted zone. We we get closing above highlighted zone then we will get new all time high in NIFTY.
This is completely my opinion about NIFTY based on trend line and price action based on monthly chart.
You can watch this counter. ULTRACEMCO is trading inside a symmetrical triangle chart pattern on a weekly chart. We should get a valid breakout within two or three weeks.
I have marked the best long and short entry position(s) on the chart. Currently, I am neutral on ULTRACEMCO.
Learning price action in WIPRO stock. It seems that we will have a short term bullish trend. I can see that buyers are taking control of the WIPRO on the weekly chart
Entry : 245
Stoploss : 235
Target : 260
CTSH near to breakout. 45 would be first target. I hope, It should be valid breakout for descending weekly triangle.
Short entry : 59.25
stop loss : 61
first target : 45
second target : 33
If you look at the weekly chart, you will come to know that, Grasim is near to weekly and daily breakout.
Grasim has completed weekly head and should and about to breakout daily chart for symetrical triangle.
If Grasim close below 700 in spot the i am possitive about down trend. Grasim has retested neckline recently.
Fresh short entry ; on or below 700
I was very positive for inverted head and shoulder breakout on Monday i.e. 16th Sep 2019 based on the Friday closed and keen towards to go for long. But, we have received bad news from international market, saudi oil attack, which pull market down and given as break out for symmetrical triangle.
Short entry : 10864
stop loss : 10950
target : 10345
Nifty is very close to breakout. On friday, second trading session was very bullish. I suppose we should get valid breakout on 16/09/2019.
Long : On or above 11034
Target : 11608
stop loss : 10950
I am going through classical chart patterns and observed few hidden things in it. So, just for learning the purpose, I am sharing this article with you.
I think, if we get close above 2640 then it should be bullish till next pivot. I am also assuming that, multiple times, the price will be rejected at 2640. Lets see.