Infy price movement is in the process of achieving symmetrical triangle pattern which is considered as the continuation pattern. Infy on a different time frame viz monthly chart is still overbought. Infy has been moving sideways. Thus, breakout of symmetrical triangle pattern may lead to continuation
Stock has formed a long bearish channel beginning 25/10 to 26/11. Stock RSI was oversold on daily candlestick. Today, stock has pulled out of oversold zone. It has built support zone at 1492. Stock has formed 'Higher Low' on monthly candlestick chart. Stock has to rise above open price of November at 1585 and then continue its upmove above 1600 to resume bullish movement
Stock is in the process of a downward price movement. One can consider it as the negative breakout of bearish flag pattern. Stock is overbought on monthly candlestick chart. Thus, more likely that stock will further decline.
Stock RSI is greater than 80. Clearly overbought on monthly candlestick chart. Thus, bullish movement is not sustainable. Omicron, variant of concern has posed as fresh negative trigger. Because revenue in EU region may be slightly impacted in Q3Y22. We have to observe the gravity of infections and its likely impact on revenue in Q4Y22
TCS has formed bearish flag pattern on daily chart. We expect negative breakout. However, there is no substantive negative trigger to cause it except the potential threat to revenue in EU region due to Omicron variant of concern.
Stock RSI has entered oversold zone on daily candlestick. Presumably, each stock has its own overbought and oversold zones. In case of Titan, it is RSI less than 39. Therefore, an upmove is possible. However, upmove has limited potential. Fundamentally, Omicron variant may dampen discretionary demand. Technically, stock is little below overbought zone.
Stock has posted fresh 52-weeks high of 3020 on 19th Oct 21. Later stock has moved into natural retracement phase as confirmed by an overbought RSI on monthly chart. Now, stock RSI has entered into an oversold zone on daily chart. Therefore, we have limited opportunity of an upside.
Price movement has formed the flag pole and a flag. Am expecting a good breakout. Today, stock has comprehensively tested the support zone at 565 ~ 569. More likely that price would pullback from this level.
I am a rookie in technical analysis. Hence, I am seeking confirmation. I discern that price movement has formed a symmetrical triangle which is a continuation pattern. However, preceding price trend is not prominent. Shall we therefore ignore it?
Greetings ! Weekly price movement has led to gravestone doji in a downtrend. Presumably, this is then regarded as the continuation pattern. We glance at option data for ICICI Bank for April expiry. The maximum OI in call option are concentrated at 600CE and Option price has reduced. Thus, more short contracts on call side? The maximum OI in Put option are...
We have to linked the uptrend since November 20 to January 21 to current phase of retracement. One would be able to visualize a "Bullish Flag" pattern. However, fundamental aspects associated with gold price movement, second wave of Covid-19 and its ramifications on demand for gold, effect of covid-19 second wave on the wedding season have large bearing over...
Pidilite price movement has progressively led to symmetrical triangle. This triangle pattern is more often a continuation pattern. However, we have to put a context here. Most of the brokerage houses have considered current market price of Pidilite as overvalued. One has to keep tab on an upcoming Q4Y21 results or any other important news on Pidilite
Greetings ! I am not familiar with tools available. Hence, I am unable to display volume along with price movement. But, I have noted that traded volume during formation of flag pole and traded volume during current consolidation is crucial piece of evidence. Traded volume during the current consolidation has significantly reduced compared to traded volume during...