A complex downtrending structure is underway, hoping for a reversal soon, will update when I will sport some confirm signals.
Where will the next support be formed? WIll need to analyze the candlestick patterns at key structural location.
Here I have tried to contain the price of Nifty from a longer term horizon in some structures, based on validation of touches and the confiroming price action. Support can start acting as a resistance or can we see further upside from here with increased volatility?
What a V shape recovery bounce seen on SGX nifty right from the structural location, where the channel supply line (resistance) turned to support. Must have wrong footed many traders
Nifty hourly chart focus on february has been brutal, with many significant down waves visible on the chart.
Have marked some key levels and range extremes for short term trading for Nifty. Follow the price action and go with the short term trade in this extreme volatile market conditions or wait for the smooth trend to emerge for less risky trading.
Reliance is breaking out of a mini trading range at the major support level, looking bullish for short too medium term as of now.
Can you see what pattern the market is making and how it can play out in the coming weeks?
Structure and price action in Nifty today was not surprising seeing the the chart
Auropharma after a prolong downmove is sshowing first confirmed signs of life. Breaking a key resistance level with good bar and volume. Price Action hinting at a possibility of further upmove continuation from here.
Mature down trending or descending channel now, can see both trend and counter trend waves clearly. Although the channel is a descending one but now shorting will eventually get more and more riskier and then the eventual uptrend will resume once again.
Tata Motors is in a mini trend channel and is looking bullish as long as the mini trend channel holds. Sellers had ample opportunity to dip down and go lower to fill the gap but they were unable to do so. Also we have seen some strength emergin in the Nifty auto index and also many auto + auto ancilliary stocks
Tata Steel is breaking out of this trend channel and has recently broken a resistance level with good price action and volume. A resistance level ahead but it can start moving up from here
Laurus Lab is looking bullish, have marked a potential trade setup with SL and first target. Price has just come out of the descending trend channel, had a shakeout and now has broken through a local level of resistance.
Banknifty 15 min chart structure and important levels marked for intraday trading next week
Price in ascending bullish channel, any pullback to a valid support level is a buying opportunity. Nifty Metal is also ready for a breakout. Results due so need to be careful.
Reliance broadly in a range, looking good for upmove from here, breaking the trendline
Apple stock keeps making bases and rising up. Can there be a bear market in US when the biggest m-cap stock is showing such bullishness?