PVR has formed a weekly hammer 3rd week of May 2020 along with confirmation of previous red candle (second week of may)
The current weekly candle is green which confirms and completes the pattern
Once can go positional long on cross of 910 last weekly candle high with stoploss of 815 for a target of 1050 i.e Monthly Resistance
As shown in charts,
Bajaj Finserv formed a weekly hammer pattern, confirmed with previous red candle.
The pattern is confirmed as per 33% body formed and balance Wick.
Now the best way to trade this opportunity is if the current week candle crosses 4440, which is the hammer candle high confirms the pattern
Probable Target is 4740, i.e immediate resistance
As clearly shown on charts, Mindtree is currently facing weekly timeframe resistance
1) Momentum loss clearly seen
2) RSI below 60
3) Double Top Formation
4) Negative Divergence seen on daily charts
Confirmation of the pattern if 880 Broken, One can enter into positional long for a target of 730
Just posted chart for learning purpose, please note the retracements levels bounce from key levels.
How stock behaves at key levels marked to form price action on downside when the latest swing was marked using fibonacci retracement
After Forming W Pattern at bottom, confirming through RSI Divergence,
1) First Retracement to 38.2% levels, then came down