stock expected move bullish,
taking support at multiple locations and expected to break the tight trend line.
After the break out from the tight trend line stock is expected to move retest (retrace) and move bullish further.
Pls check levels on the charts
Dabur to be watched for next new days. Looks to be bullish best on following few reasoning
1- support from lower trendline (yelllow)
2 - resistance turned support on horizontal area (yellow)
3 - this makes area of high confluence
4 - look for the breakout above tight trend line (red)
trend and pattern analysis
1- breakout confirm at steep trend line
2 - multiple retest and supports at support location (yellow arrows)
3 - resistance turned support (red arrows)
generated area of high confluence, expected to move down till confluence area and take up from there.
check levels on charts
KOTAK MAHINDRA BANK looks bullish. The flag pattern about to see break out. it is taking support around 1400.
MACD indicator is also looks saturated
wait for break out and take the call accordingly. Check the chart for levels.
CIPLA moving bullish with support and resistance level as marked on chart. Now it has reached to support trend line which is also a support area zone around 955. It has become a area of high confluence and expected to take support again.
watch the move, buy above 963.5.
TATA STEEL after breakout on 11th Jun retested the resistance trend line on 16th Jun. Probability of turning it into support can not be neglected.
After retest it likely to move bullish.
watch the move!!!
Analysis phase 1- Fibo retracement
38.2% retracement from the May'2020 to higher high of 16th Feb 2021.
Hence, down trend from 16th Feb to 22nd April is considered as a pull back.
Analysis phase 2 - bullish move
After 22nd April it moves very bullish with breakout around 22nd May over the trend line from previous high. this breakout confirmed bullish...
Fibonacci is one of the important tool to predict and understand the retracement of the stock.
MARUTI SUZUKI was in down trend since mid of Feb started retracement on 26th of Feb around 8610 and retraced by 38.2% till 7372, which is also a price at the current date. after this retracement it continued the down trend.
A trend reversal is observed on 30th of...
one of the best example of switching resistance zone to support. as stock looks to be in bullish move which moved side ways for some time from 15th of may. Further breaking resistance zone on 3rd June and retested it on 7th again.
stock mostly will move bullish from here, following the previous trend and make high of atleast 10 to 12%.
Polycab seem to be saturated from last 5 days, no major move (less than 1%). MACD and volumes indicators too dying out, suggest loss of momentum.
it will possibly breakout and move up the trend.