ashishsteag

ashishsteag

On a 1 hour chart we can see some consolidation on axis bank. Also note the previous week low. A trap could be laid out below Previous week low trapping the short sellers( a possible scenario). I have marked a box around the consolidation area. Now I am looking for a potential fake breakdown of the box and then a move up inside the box/range targeting the...

ashishsteag

1)Trend line broken 2) Double top formation 3)Support after the trend line has been broken. 4) Close below 50 period MA. Target is next support level.

ashishsteag

1)Inverted head and shoulder formation 2)small build up at the next line or the resistance line- Indicative of a big move Target- 721

ashishsteag

1.Double bottom formation shows a reversal. When the sellers aren't able to push the price below any further, the formation of lower lows stop and thus it indicates reversal of trend. Target exactly comes at the nearest resistance at Rs. 1500 2. Second indication of a price reversal is the break of trend line. 3. Confirmation of higher highs and higher low formation.

ashishsteag

1.Since the stock is in an uptrend, the probability of a breakout as opposed to breakdown is higher. 3.Further DII's have been increasingly buying Birlasoft as per June-2021 report.

ashishsteag

Reasons to buy tanla software 1) Heiken Ashi candle shows formation of long green candle with no lower shadows 2)MACD shows a positive crossover 3) Ascending triangle chart pattern

ashishsteag

The price seems to be bouncing of the previous support. It is at the 61.8% retracement levels(fibonacci levels have been reversed). Price has already corrected by 13-14% from the 4700 levels. Keep it on your radar.