RELIANCE INDUSTRIES is the King of the Indian Stock Market and everyone knows about what role Reliance plays in India. RELIANCE Stock has been in a consolidation since more than 2 years and is now trying to Breakout. Let us first know about its Basic Fundamentals. Profits are rising every year which is the most important point. Balance Sheet is growing year on...
Energy sector is most impacted in the current covid correction, There is a significant fall in the sectoral stocks and the index is breaking down from a triangle type pattern, keep energy stocks in radar.
this fall could take a bit more time, then drawn on chart, but from chart we could clearly see that nifty energy is overvalued. in all time frame, the rsi currently is at 60, the average, or the mostly rsi being in the chart is around 50. although, it has been falling, and yet following a triangle pattern. there could be a downside, fall. the dark black line is...
Energy index is preparing for a triangle pattern breakout, keep energy stocks in radar.
As per analysis FII are taking there money out from It stocks and Putting in energy stocks Nifty Energy index is in triangle pattern after breakout we may see all time high being broken Be ready now you can see tata power, adani power,Reliance , all other energy stocks moving well It's my analysis do your own before investing
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 ,...
TATA POWER looks good for a positional trade . As we can see a breakout in nifty energy index , we can expect Tata power to give an upside momentum and making new ATH in coming months .
Keep away for sometime until it approaches support or resistance.
Inside Bar Formation ( 4 Candle Close Under One Candle ( Doji form on 16 june ) Price Is In Supply Zone ( Tested Once ) Price Is On Resistance Zone ADX Above 25 +DI IS Above -DI Go Short Below 146.75 SL :- 154.6 OR FOR Aggressive ( Previous To The candle which Broke 146.75 High ) Target On Support Of Trendline It can BREAK Trendline also So Trail Your Sl...