Self abalysis for paper trading support/resistance areas
Narrowing wedge formation as marked on chart. Follow with RR 1:2 for self paper trading.
Price action in live market will further determine the actual direction and levels. Paper trade carefully.
Self Trading practice for paper trading. Sideways movement is quite a possibility after a good run up.
As marked on chart. Case Study for wedge.
Levels marked on chart. This is my personal view.
This is a plan for my personal views on Bank Nifty. If you follow please do so at your own risk. We have achieved targets as per old post. Taking a dig at time levels for bullish scenario, which may not follow :). Price levels are marked on chart. It MAY fall to the pink bottom channel before rising again, however which will provide a good long opportunity with...
All levels mentioned for the charts. If we break the levels below, we should see very quick downfall. Else we should see a reversal and achieve higher targets turning it bullish.
As shown on charts we are critical support. We should get a bounce from hereon to maintain bullish momentum in long run for Nifty. However if the NIFTY breaks support line levels, we can see much downside targets as shown on charts.
As shown in the chart, this stock is looking good for bounce till GAP (white resistance line). All levels marked on charts.
As shown on charts, we notice the bullish butterfly pattern. Levels marked on charts. In case of violation of Bearish butterfly, we can sell as well for the targets mentioned.
We need to break the down trend line convincingly to confirm bullishness. Overall channel is in downtrend as shown on charts.
We met the targets as posted yesterday. We still do have limited upside left based on FIB levels and from thereon, wither we could use reversals to short or continue long positions for higher targets, on breakout of range with momentum. All levels are marked on charts.
Explanation/Levels mentioned on chart.
As posted yesterday we have achieved the targets, even after a positive RBI rate cut announcement today. What we have now is Higher high and Higher Lows formation which makes reversal possible. So, now if we start heading higher we can achieve the Higher price range, shown on charts as Buy Target Range. A breakout above the Buy target range will confirm reversal...
Even with higher high/higher bottom, reversal might take some more time. It stopped at immediate down trendline and reversed from there. Shown are the targets and extended target ranges for further downfall, if don't break today's high(28150) at start of market.
As shown on charts, the internal structure is shown and this is now ready to hit the above trend line. Do keep tight stop loss for enhanced volatility in market.
As shown on charts, the any negative formation will Reliance further lower towards 1120