The analysis and levels of support and resistance are completely according to oi data which changes rapidly in live market. trade according to live data.
the analysis and levels of support and resistance are completely according to oi data which changes rapidly in live market. trade according to live data.
STOCK IS FOLLOWING A VERY GOOD TREND LINE AND CURRENTLY ON TREND LINE SUPPORT, BUT ALSO IT HAVE NOT GIVEN CLOSING BELOW 200EMA ON 15 MIN TF, BOTH SHORT AND LONG TARGETS ARE MENTIONED ON THE GRAPH.
REASONS FOR STOCK SELECTION:-
1. RISING ADX,
2.TREND LINE SUPPORT,
3. EMA SUPPORT,
4. GOOD RRR ON BOTH SIDES.
Stock showing short term consolidation and RISING Adx. Might give a good move on any side.
Also, stock is closed below 50 MA on daily time frame and now 50 MA is acting as resistance.
RELIANCE is roaming in a range, basically, it's trading in supply demand format. Now it again came on its important support level. And from here, There are only 2 possibilities. If it again takes support, One can wo long and if it breaks the support ,go short.
BREAK OUT TRADES ARE VERY FRUITFUL IF YOU CAN FIND PERFECT SUPPORT/RESISTANCE AREA'S. IN THE CHART, I SHOWN PROPER SUPPORT AND RESISTANCE AREA'S ON THE CHART OF MUTHOOT FINANCE OF DAILY TIME FRAME. IF YOU LEARN TO FIND THESE IMPORTANT AND MOST IMPORTANTLY, AFTER FINDING OUT THESE ARES YOU WILL HAVE TO ENTER INTO THAT TRADE ON BREAK OUT PRICE SO THAT YOU CAN ENJOY...
TCS ON DAILY TF IS FOLLOWING A TREND FROM MANY DAYS, IS NOW AGAIN CAME ON SAME TREND LINE AND AGAIN STARTED ITS UPWARD JOURNEY.
ALSO, THERE IS A LOWER SIDE REJECTION FORM 50MA.
BANK NIFTY WAS ON CRUCIAL TREND LINE WHICH WAS BROKEN BY MULTIPLE GAP DOWN OPENINGS AND NOW CURRENTLY TRADIE BELOW 200 MOVING AVERAGE ON 1H TIME FRAME. ALSO TOOK REJECTIONS FROM 200MA AND NOW ITS JUST BELOW THE 200 MA ON 1H TF.
