the_consolidation_guy

the_consolidation_guy Updated 

After the close of today's session (31/05/2021), Multiple bank scrips in NIFTY seems to be hovering around a defined resistance zone. IndusIndBank seems to be one of them. Notes: - High Beta Stock (one of my personal favorites to trade on a trending day) - Consolidation right below a defined resistance zone (1017-1025) . Tested the range twice in the last 7...

the_consolidation_guy Updated 

After the close of today's session (31/05/2021), Multiple bank scrips in NIFTY seems to be hovering around a defined resistance zone. Heavyweight HDFCBank seems to be one of them. Notes: - The Scrip was in a continuous downtrend channel which confirmed breakout on 21st May 2021 (Took support on the channel walls and gave a strong move up) - The scrip has...

the_consolidation_guy Updated 

Notes: - The Scrip was in a channel consolidation ever since 3rd Dec 2020 (220 point range roughly) - It has tested the upper bounds of the channel 4 times in total - Currently, the scrip is consolidating and testing the upper bound of the resistance zone (at around 1615-1620 ). Because of the consolidation, I'm slightly bullish since the last three times it...

the_consolidation_guy

12016 has been established as a decent resistance by NIFTY FINSERV (owing to the heavy consolidation around the range on 21st Oct). An Ascending triangle pattern can be drawn over the chart with the top at 12016 levels. However, if the Gap-up opening on 23rd Oct is to be neglected, then it could also be a simple triangle pattern with a tilted top as opposed to a...

the_consolidation_guy

NIFTY REALTY on 20th Oct gave the long-awaited triangle breakout followed by a quick attempt to break the resistance at 239-240 levels. This was rejected and then it fell into a channel consolidation (descending) since 22nd Oct. Possible breakout/down confirmation levels Breakout - 237.15 Breakdown - 233.9 (Aggressive), 232 (Conservative) Just a Beginner trying...

the_consolidation_guy

The BANKNIFTYs attempt on 21'st Oct to break 24815 was rejected and it seems to have fallen into a Triangle consolidation since. A possible breakout or down could be confirmed at following levels Breakout - 24600 (Aggressive), 24693(Conservative) Breakdown - 24375(Aggressive), 24290(Conservative) Just a beginner trying to get the hang of the whole pattern...