Technical Ananlysis of LAL PATH LANS on differnt time frames
ON a Monthly chart : It has followed succesfully evening star kind of pattern you can see on the monthly charts of it with good volume .So, on a monthly basis it is bearish to sideways as further pain is there .It also has broken a important upward trend line .
On WEEkly basis on chart: As a trend line is broken on monthly chat it can be clearly shown in weekly chart with good volume from the previous candle. from top it is rejected by the same level as rejected earlier on 30th of august making that a strong rejection zone (4247.80).
ON daily chart:
It is making a double top kind of pattern whose bottom is recently broken again with good rising volume making the breakdown a more prominent and effective one. this breakdown is also associated with uptrend breakdown .candles are also good as it made a long bearish engulfing candle (full good body) at the top which confirms the that bears are strong.
also on RSI ; its showing a bearish divergence .
on stochastic ;its showing an crossover of red line over bluee line meaning power of bear are increasing.
ON 1 HOUR chart:
double top pattern breakdown
if we draw a fibo from 17th day high to low the price is getting rejected from 50percent and is still not broken the low
IN my opinion and through analyis if it had to broke the low it should have done it on the same day but the low is not broken .Also a hammer pattern is made at the low .
RSI ON OVERSOLD region can take support from 28 can bounce back also the STOCHASTIC OSICLLATOR IS ON OVERSOLD REGION.
SO ON END I WANT TO SAY THAT THE TREND IS BECOMING A BIT BEARISH ACC. TO MONTHLY CHART BUT NOT SO BEARISH.
ON MONDAY IF IT OPEN GAP DOWN LIKE WE CAN SAY ON 1HOUR CHART IF IT OPENS BELOW THE PREVIOUS DAY LOW BULLISH MOMENTUM WILL OCCUR IF OPENS GAP UP IT CAN GO FOR A RETEST KINDA THING . SO LETS OBSERVE
AND YES THESE ARE ALL MY ANALISIS AND I CAN BE WRONG SO TRADE ACCORDINGLY
HAPPY TRADING
On WEEkly basis on chart: As a trend line is broken on monthly chat it can be clearly shown in weekly chart with good volume from the previous candle. from top it is rejected by the same level as rejected earlier on 30th of august making that a strong rejection zone (4247.80).
ON daily chart:
It is making a double top kind of pattern whose bottom is recently broken again with good rising volume making the breakdown a more prominent and effective one. this breakdown is also associated with uptrend breakdown .candles are also good as it made a long bearish engulfing candle (full good body) at the top which confirms the that bears are strong.
also on RSI ; its showing a bearish divergence .
on stochastic ;its showing an crossover of red line over bluee line meaning power of bear are increasing.
ON 1 HOUR chart:
double top pattern breakdown
if we draw a fibo from 17th day high to low the price is getting rejected from 50percent and is still not broken the low
IN my opinion and through analyis if it had to broke the low it should have done it on the same day but the low is not broken .Also a hammer pattern is made at the low .
RSI ON OVERSOLD region can take support from 28 can bounce back also the STOCHASTIC OSICLLATOR IS ON OVERSOLD REGION.
SO ON END I WANT TO SAY THAT THE TREND IS BECOMING A BIT BEARISH ACC. TO MONTHLY CHART BUT NOT SO BEARISH.
ON MONDAY IF IT OPEN GAP DOWN LIKE WE CAN SAY ON 1HOUR CHART IF IT OPENS BELOW THE PREVIOUS DAY LOW BULLISH MOMENTUM WILL OCCUR IF OPENS GAP UP IT CAN GO FOR A RETEST KINDA THING . SO LETS OBSERVE
AND YES THESE ARE ALL MY ANALISIS AND I CAN BE WRONG SO TRADE ACCORDINGLY
HAPPY TRADING
Comment:
when its gap down bearish momentum will happen instead of bullish i have mistakenly written that