Here I will apply something known as Average Directional Index (ADX).
As we know, the ADX line indicates the strength of underlying trend, be it upwards or downwards. It is composed of two other lines, +DI(green) and the -DI(red) line.
It indicates, how strong or weak the buyers or sellers are.
Few traders use this to understand the reversal of...
This is my analysis and idea of the upcoming movements of Punjab National Bank, NSE.
Till now the movements have indicated a reversal. We are seeing steep buys with a slow fall after that, which may indicate high volume traders grabbing positions while past negative sentiment(money scams) pulling the price slowly down.
But the possible reversal and company's...
A small market update about what has been going on lately and what may happen later.
Ever since NIFTY BANK broke its two month long trend line upwards on 15th of June(Friday), the index has been seeing red till 20th of June(Wednesday).
Ever since that trend reversal, a bullish parallel channel has formed. It is shown with the blue dotted...
Presenting a 15 minute chart here.
We can see that it is making lower lows with little buy support. Bears look stronger.
I have posted another 2H chart with a longer prediction. Please refer to it for further information.
Hi, I am an Options Trader. I am new to the Trading view sharing IDEAS platform.
So, talking about BankNifty. I am referring to the 2H chart.
We can see the sharp fall after the thrust of the reverse head and shoulders pattern(between 1st March and 26th April).
Now where does it go next.
BANKNIFTY is currently at 25875.
This is a crucial zone.
I am new to this platform. Kindly bear with me if I have used wrong symbols or colors.
So what I am trying to use, is the basic philosophy behind Elliot Waves. They are FRACTAL.
I have shown 5-3 wave sequences and followed them to 1m scale.