Negative divergence seen on #cnxenergy on Daily timeframe, we would be looking at a crack of minimum 1800-2000 points here. Traders can look for week energy stocks and short them. Traders should stop out once the index trades and sustains above 33800!
Key highlights: 💡⚡
📈 Index is moving in Upward Moving Channel since 4th Nov 2020 as mention in chart.
📈 Index is taking exact support of lower trend line.
📈 MACD is also giving Crossover.
📈 One may go for swing trade into ENERGY SECTOR.
KEEP AN EYE ON ENERGY SECTOR STOCK.
EXAMPLE - ADANITRANS , RELIANCE
⚠️ Important: Always maintain your Risk & Reward...
The Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: its my view only and its for educational purpose only. only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only...
Key highlights: 💡⚡
📊 Currently NIFTYENERGY is giving breakout of Symmetrical triangle.
📊 and 29304 is its resistance level we can see rally of around 1000 point.
📊 but into RSI level 72 is working as resistance level twice.
📊 Keep an eye on both things RSI as well as price movement.
📊 One can go for long into ENERGY SECTOR.
📊 Example : ADANIGREEN , ADANITRANS ,...
Indian energy sector is moving towards its resistance which is 26285 level.
Keep an eye on volatile Metal stocks
eg. ADANITRANS , NTPC , BPCL
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
"NTPC" has given a channel breakout along with channel breakout of "CNXENERGY", So it's highly bullish and can give a good return. Any suggestion is always welcomed. NSE:NTPC .
