BODAL CHEMICAL - CRUITAL LEVELS
Script is currently trading at cruital levels, medium term moving average (50) is just kissed longterm (200) moving average, any further correction may lead to breaking of long term support. This can make long term investor to exit. some level identified ( lvls in chart). Strickly no action if it goes below 70
It has reached the supply zone and price remain their for two sessions and on third session it has left the zone.
Some pull back to the supply zone can be seen in comming sessions and same to be utilize for offloading.
It can be looked to grab it near to demand zone (levels in chart). As estimated it may find support near 258-260 ( observe black...
TATAELXSI: Swing low
Seems it has formed bottom. Nice swing is seen on daily chart. Today's candle has engulfed yesterday red candle (day closing to be seen for confirmation), With this view it is in process of formation of DZ (Observe the box marked) with price just leaving, it has 2 candle in base so strength is moderate. Target SZ also marked with good...
This is what I can see in D-mart on daily chart.
1. Continuation pattern.
2. Blue line shall acts as support.
3. It has to breach red line to continue the move. Hope it can breach ds on Monday session and close above it
IOCL - SELLING PRESSURE
Some Zone identified and marked.
On weekly chart we can see double top, current prices are near to neck line, if prices falls further then pattern could be confirmed. Down side demand zone identified.
Some observations on NIFTY Daily chart.
From NOV 18 to June 19 (till date) as seen, we can see HIGHER HIGH AND LOWER HIGH. I split this in two parts NOV18 TO MAR 19 and from MAR 19 to JUNE 19 (till date)
Part - 1 NOV 18 to MAR 19:
Index level making HIGHER HIGH AND HIGHER Low and the Strength (RSI) also has upward slope, means this up move was with...
With the last two three candles formation on daily chart (circled yellow) a bullish Harami seen on 15th followed by dragonfly Doji on 16, shows it is bottoming out. Also looking at last rally of Feb, price has retraced to level 50% fab level. This shows possibility of Reversal of prices. Initial target of 310 followed by 330.
Not for any trade advice, ...
Some action to watch today, hammer and inverted hammer seen side by side at the bottom, and it is about to enter the high probability demand zone, if prices closes above last candle Reversal can be confirmed.
It seems to be in consolidation phase. Looking back in 2014 after the long rally it retraced till 38.2 Fabonnic level and consolidated almost for a year. After the current rally currently it has retraced till 38.2 and around 9 monthly candles shows consolidation as of now. As seen it has a good support at around 2320 level and the same is the...