As warren buffet says stock market is a machine to transfer wealth from the impatient to the patient. In this eg you can clearly see that once you had bought at any levels you just had to sit tight but 90 percent people fail. TREND IS YOUR FRIEND UNTIL IT BENDS.
In this week the pharma sector witnessed a rally. Pfizer has still not witnessed a rally and technically it has started higher lows with a attempt to break the trendline. Any closing above 4050 will lead the stock towards 4400 and 4800 levels.
In this post i want to show how the market has memory and the beauty of support and resistance
one can start accumulating and wait for a closing abv 650 on weekly time frame and safe trader can wait for it to close abv 650 and then enter its making a hammer in weekly also called as base which cause the further upside.