V-Bottom happened on the weakly.
Volume Increase on rallies and decrease on corrections.
Darvas box pattern - you have a shoot up and then the price consolidates within a box range...
The stock was in a very long downtrend without any signals of reversal until now.
Checked also the weakly chart.
Basic materials are advancing.
India's main index, NIFTY 50, hasn't broken down though these one hour boxes, on a closing basis, since the massive selling on December 21, 2020.
A case for long NIFTY continues till the boxes keep getting marked up.
It can't be gainsaid that this is a market, in which one should move with Stop losses on a progressive basis.
As you all know the book written by nicholas darvas in 1959, emphisized on the volume and price action on weekly magazine called Barton. This weekly magazine contains information about price action and volume and also about company business and important fundamental indicator.
This screener on weekly data and hopefully could some how functioned as Darvas Barton...
S&P 200 (XJO) is currently pulling back at resistance, but has formed a great looking Darvas box. If it can break above 6200 and hold support, we are going to around 6650.
A fib extension still puts the next move to 6300. I expect a pull back to test 6200 support, then resumption upward. After that the next extension is just above the ATH.
This is also forming the...
XMR has completed the measured move from the breakout of the consolidation box.
This also lines up perfectly with a fairly major resistance level from back in June/July 2019 and September/Oct 2018
I don't expect XMR to crash, it will probably go sideways before breakout.
If XMR can break $120 and hold support, I would expect a move to $200-215.
A close above $5.33 would be bullish. Target = 6.50
It may chop around until the wedge resolves itself which would be Oct 2nd = a time stop
A close below the break of the diagonal trendline or 21 EMA would negate the trade.
Bajaj finance :-
Darvax box consolidation are peak levels,
Rising Wedge pattern,,
Bearish harmonic Shark pattern fomation,
Bearish divergence on RSI indicator,,
50% Time and Price retracement,,
Breaking below 3190 which is support as per darvas box and also trend line support of rising wedge pattern,, and sustain would lead to fast and furious fall,, for...
6/Sep/2019 10:27 AM
Breaking out of multi month darvas box here.
Long timeframe idea. No price projections but one could use fib extensions to generate some if desired.
Stop is half way of the range we are breaking out of.