A 5-wave impulsive rise was spotted in SBIN beginning on 26Oct and ending on 16Nov.The stock moved 8% during this impulse.
The correction that began on 16 Nov was quite steep and swift forcing the stock to give up on 70% of the gains it made during 'wave i' phase.
Now, however after having completed the correction the stock is set to move up again in 'wave iii'...
This stock is now in consolidation..
Head and shoulders pattern is detected...
If consolidation with rise, happens we have a chance of fall back to the below neckline...
keep look for sell when price reaches the right shoulder.
A strong push to the top side is observed from this zone...
price created a bullish channel...
today broken the channel if tomorrow price retest and may fall back or if failed to fall a strong rise is observed.
keep look for long...
The stock is continuously falling now it is in ranging from last few days....
before going to break below if it gives us retracement to sell again...
Keep track this for sell...
If it is continuously falls A drop base drop is going to observe...
the stock is trendnig upwards...
After showing bearish pressure again price enters into the resistance zone again..
if this will breaks above or fall again...
keep add this stock in your watchlist....
Observations::
price clears all the demand zones on bottom side...
now price is coming back to test the previous demand zone may acts supply zone
or to test strong fall area to again fall...
POI are marked on the chart please look at these areas...for sell
Keep track these levels. 580 and 590 Zone
Observations:: SBIN
--->> Price is trading in a channel...
if we see the difference between the HH is decreasing gradually...
which is a sign of reversal in this stock...
clearly price created a gapdown as well, indicating a bearish sign....
we are clearly in an uptrend, price tries to go upside from 570-555 range,
but that not move too much..only 20-30 points we...
Observations::
This is a continuation post to my previous post about SBIN::
Consolidation Happens between the demand zone and supply zones. Price restriction is happens between the zones.
While breaking the previous demand zone, price leaves a supply zone @586-590 range,
if price wants to test this supply zone and falls below or continue to fall down.
A...
Nifty fin had formed a 100 points range from 19400 to 19300.
The sustained breakout on the either side can give a 100 to 150 points momentum.
But as market is in bullish zone, we will try to go 100% on the buying side and 25-30% on the selling side.
market has created a very narrow range inside the blue trendlines.
breakout is expected on the upside.
Have a big...
----->> after strong fall from 588-590 range, price again coming back to supply zone with consolidation to upside,
if failed to create a new high and falls below 575 range then sell for the target of 565 range.
the demand zone @ 575 range acts as support and the demand zone created at 582 becomes resistance, hence price is in consolidation.
if price consolidation...
----->> after strong fall from 588-590 range, price again coming back to supply zone with consolidation to upside, if failed to create a new high and falls below 575 range then sell for the target of 565,555 range.
keep track of these levels.
