For past sometime Nifty has been falling in the Parallel channel, forming LL and LH combinations. Earlier it tried to cross above the channel resistance twice but failed to sustain above it, and brought the price back into the channel, recently it managed to cross the second channel resistance and comfortably finding support at the first resistance( which became...
I do not have much to explain here, apart from this is how I got into this trade. the upside is still there. Target is between 160-170.
Trade accordingly
Fundamentally speaking:
After spending hours researching ITC ltd. I finally came up with a sound target price( long term), it looks like a value buy at these prices for a long term price target between 190-210. ITC has a history of paying a good amount of dividends to its shareholders and buying at these levels will eventually lead to gain in both ways, price...
we couble be seeing a slight retracement in Banknifty from these levels but a overall trend will still be in Bears hands. The levels we are at right now have always proved very successful in the past, so going by the fact and Banking( depending) on the 50% Fibonacci levels lets see if the history can repeat or not. since I am a technical trader my POV changes in...
A double top formation happening in Dabur India, risk-reward looks very favorable the stock will definitely try to touch the channel support before resuming its upward rally again. wait for the neckline breakout, before initiating any short positions.
Trade accordingly.
You simply can't ignore the fact that the steel prices are too high, but at the same time companies are saying that they are seeing some revival in demand. The 200 Day EMA can act as a helping hand to bulls but since the last trendline breakout the stock is continuously making lower high and lower lows if that stays true, then there is still some correction left....
hello,
one can see a bearish symmetrical triangle pattern formation in the axis bank, forming its final leg to complete the pattern. if the levels that I have mentioned supported the analysis, one can get into the trade only after the confirmation, earlier it has retraced from the 50% Fibonacci levels( use bigger timeframe chart to see), I am seeing a short term...
From the past 9-10 session bank nifty is ranging between 22000-22700, I have mentioned some major support and resistance levels on the chart. For any confirm downside move it needs to cross below 22260 levels for a target of 100+ points to our lower support zone.
Trade accordingly
The recent correction after the results is a good entry point to accumulate the stock, as the risk-reward is looking very favourable. The stock has failed to break the 50% Fibonacci
support levels, not just one but many time, one can see in the chart itself, the recent kiss was on 30th July. Some further correction can happen if the bank nifty starts to fall. The...
An easily spottable head and shoulder pattern is forming here if it breaks this zone which is also a 50% Fibonacci level, it can fall towards 184-180 levels, but if it holds this support zone
then there are chances that it will touch 200 levels soon, for that to happen it need to cross and sustain above 194.
Trade accordingly
Recently a head and shoulder neckline breakout has happened in Tata motors, earlier this a double top proved successful if we go by the fact that the technicals are working perfectly in this script, then I am seeing a sell setup once it's broke the channel support which is also near the 200 Day EMA. If things go the other way I have mentioned all the levels in the...
SBI is forming its final leg to complete the pennant formation after taking today`s candle into consideration, but if it breaks this pattern it can fall anywhere between 173-169. Trade accordingly
Ignore the color of the candle for a minute.
The stock will try to hold it`s channel support levels which is at 165, but if it breaks these levels it can fall further to 153-146 levels. One can see a downward flag pattern formation happening in daily timeframe which is already inside a channel pattern. Earlier the stock has retraced from 50% Fibonacci levels but...
