Stock price has made new All-Time-High Rs 571 on month closing basis.
Previous all-time-high Rs 543 was recorded in the month July-2017.
Snapshot of high level numbers current TTM and FY17 when previous high was made.
Mar-17 TTM Apr2021
Revenue 9376 15008
Op Profit 1902 3277
PAT 1488 1846
Previous All Time High July2017 ...
A bearish abandoned baby is a specialized candlestick pattern consisting of three candles, one with rising prices, a second with holding prices, and a third with falling prices. Technical analysts expect that this pattern signals at least a short-term reversal in a currently upward trending price.
Significant reduction in relative strength index
As every time such pull backs got bought into during past few months.
Due to recency bias , we may ignore, this may be a real bearish candle.
This time it may be a real tiger which has come, but villagers won't believe.
Daily chart's 12EMA crossing upward of 50EMA, is a bullish entry trigger
Two days consolidation after the crossing, is positive.
Weak to Strong hand-over took place, those two days
Strength indicator got stronger
Direction movement indicator biased for up-move.
CNX Energy, benchmark index for this stock, also showing strength.
Both improved by 12%, MTD...
12EMA reducing distance with 50EMA, Closing funnel ,
12EMA may likely cross 50EMA downward if prices stay lower during week.
Retest of 20EMA, 50EMA failed on day close basis.
Short entry at confluence of flattened 50EMA and retest of 0.618 Fibo, gives double confirmation.
Price direction on lower side has higher probability.
After overtaking 2020 price level in very 1st week of new year making 52W High in 1st week of the year.
Today, 03Feb, it made another daily close above previous 52W H
It made 3 weeks long reverse-trigger while recovering entire 3 weeks down-move in just 3 days 1-2-3-Feb.
Today's print of 6% comes with volume which is highest compared to any day during previous 10...
After overtaking 2020 price level in very 1st week of new year, stock made 52W H and highest daily close on 20-Jan
It followed a week long weaker prices while closing January.
Today's close price makes a new high on closing basis.
It has high Relative strength, Trending indicator rising, Positive movement value setting tone for further rise in stock price.
Reading Weekly Chart doesn't show many points in recent history to derive levels.
While multi year resistance , 200, was taken out two weeks back, the volume was historic high.
Price went from 200 to 300 in just 2 weeks, and third week saw retracement of 30-35%.
If retracement become deep till 50%, then it coincide with 3 year old history of 2018 weekly...
Selection of stocks by dynamically adding and removing based on their Relative Strength with respect to Benchmark , may be a very disciplined way to Do-It-Yourself rule based Equity Portfolio management.
RELIANCE 1D : Trading Inside Bar
Price is ranging between 1900 - 2050 for last 2 months
Last trade price opened gap up and made bullish inside-bar, staying positive, making a small green bar fully inside the upper wick for previous day's mother candle.
This offers a good probability for long trade with candle bottom at 1910 and top at 1935, for getting RR of...
Direction bias I derive from RSI , DMI
Levels I plotted horizontal lines by checking Swing high / Swing Low from higher time frame chart
In this chart RSI is rising with DMI+ above ADX
Momentum is not visible, but has probability to rise, in the direction given by RSI.
In 4H chart, trade is on Buy at current price OR pull back near green-dotted...
Chart shows key support levels
It has reversed after making 52W high
Strength built up during Nov and Dec start has become weaker than Neutral level
Fall probability is higher as long it stay below red-dot-line, Short can be entered near red-dot-line, to target green-dot-line level
It may further go down and test low near pink-dot-line level, where...
Stock gave 20-25% growth in 2018 and almost 50% growth in 2019 during intra-year swings.
During 2020 fall, it gave 33% correction, and recovered entire fall mid-year.
By mid-2020 it was back to 2019 high.
From start of 2020H2, it appreciated 30% by end of CY2020.
Last weekly close, was at ATH with volume, by breaking out from top wicks of previous...