Strong stage 2 uptrend
belongs to a strong sector - capital goods
very shallow pullback and tight conolidation and volumes drying up
multiple inside days in a row
forming a vcp on hourly time frame within this consolidation region
Entry : above 3400
sl: below 3250
Target : no targets, book 30% at 3:1 rr, and trail the rest on hourly pivots
context of breakout is more important than breakout itself
1) Breakout is happening at new ATH and 52 week high
2) Breakout is happening after a consolidation period of 2-3 weeks AFTER the stock ran up significantly.
this shallow pullback shows that despite the stock ran up, there are no significant sellers, stock is under institutional...
ICICI bank, forming a cup and handle after upmove, handle is almost complete, need bo above 890 for confirmation
SBI - another leader along with ICICI bank
decisive bo above 540-550 region will confirm the pattern, within the base,...
1) number one most important thing for a trader is to be only in continuation structures, where there is already a prior trend
2) Retracement has to be on lower volumes. here the candle at 2 briefly undercuts the prior low and swiftly moves back up, creating a shakeout of weaker hands in the stock
3) after an earnings gap down, there is no further...
1) Strong trending stage 2 move
2) Volumes expanded as price moved up, and greatly reduced as price started to correct and consolidate
3) Within the base, long term VCP is forming, on right side of base price action is getting tighter, price is consolidating at the top end of resistance, final supply is getting absorbed
4) need a clean breakout above...
1) Strong stage 2 uptrend on weekly tf
2) within base, strong institutional demand with wide range candle on heavy volumes
3) three contractions with volumes decreasing subsequently, price action getting tighter, indicating supply has reduced
4) no wide range bearish candles with volume on downside when...
Nifty Price Volume Analysis:
1) Range of candles is wide, no wick , no sign of any supply
2) even after gap ups and slight pullback, strong demand came in, again wide range on upside, bearish candle got countered immediately
3) range of candles is slightly reducing, but long tails indicate demand is still...
price range analysis within the stage region between 14300-15300
1) in the first part, sellers are clearly winning, clear range expansion on downside, extremely bearish closing, range of candles on upside is very low
2) after a rally on upside, sellers again were heavy on buyers, range expansion still happening on upside, but 2 consecutive long tail...
Price spread analysis of metals index:
1)very wide spread bearish candle, but no downside follow through
2) weak upmove, range of candles on upside very low, took 4 weeks time to reach 5900 level, where it took just 1 week to fall
3) again a very wide spread bearish candle, limited downside implications
4) ease of movement still on downside, yet...
- Gold is now getting into the right structure for another upmove
- every selling wave, sellers have gotten progressively weaker, forming nice volatility compression pattern
- volumes have also started to dry out
- closing has been very tight for many consecutive weeks
-strong breakout above 1900 will be the beginning of upmove