I wrote in the previous post that sometimes price pulls back towards the breakout zone in case of a breakout. This may happen here. We may think of going long when price reaches to breakout level keeping a strict SL.
Price has reached 15 DMA, the target given last evening.
Nifty corrected up to 50 DMA and reversed on last 2 trading sessions. On last session Nifty was able to come above 5 DMA and 100 DMA and resumed momentum. There was also a small positive divergence. Now price is at 9 DMA. If tomorrow it can manage to cross 9 DMA and stay above, it can target 15 DMA. As per Open Interest table, bulls have built strong position by...
The stock is in a strong bullish trend. Price took support several times at 100 DMA and moved up. Price is once more close to 100 DMA. 897 is crucial support holding of which medium term target may be 1000+ in medium term. It can be a nice investment bet.
Sometimes a breakout stock can fail. None can know what happens behind the curtain. This makes a technical analyst humble in approach and attitude. After all Lakshmi is the Goddess and a Goddess is supremely powerful. Even gods are slaved easily by Goddess Lakshmi. Price is taking support at 200 DMA. This level of price will decide the long term trend of the stock.
I covered this stock 3 times earlier. On Friday price made a surprising move, broke out of the range taking support at 1060. Now holding on to 1100, bulls may push the price towards 1200+.
The chart speaks more than words. How price responded at 200 DMA. Now again price is at 200 DMA.
A breakout chart in strong bullish phase. Now the marked range -- 1559 (support) to 1604 (resistance) is crucial. Expect one more breakout above the immediate resistance zone short term target of which could be 1640 to 1680.
I covered this stock on 12th May. Price has broken out and price is holding above the breakout zone so far. Please note that the stock is in strong bullish market. Chart is also forming an Ascending Triangle pattern which is a bullish assertion. Moreover, it belongs to consumption industry segment which is doing good business. (See Asian Paints). It can fetch...
I am extremely happy to see this chart. Negative divergence triggered. I wish it crashes below 50.
I posted this chart many days ago with possibility of price seeking support at the earlier lows. Price has almost reached the support zone and now bears may book profit.
This is what I wrote on 21st May: 'It is to face tough hurdle at 3610-15'. Today price made a high of 3615. Now if this level of 3610-15 can be saved by bulls, which may not be easy, it will be another breakout taking the price to new highs.
This is what I wrote on 20th May: Now bulls will find it tough to clear up the resistance level of 1128-30. Today price came down from exactly the same level. (This chart of TradingView is not up to date). Now it can slip towards 1165-62. Trend is mildly up in the short term. Profit booking pulling the price down. Long term outlook is up. Wait for correction to finish.
Price broke out. This is quite a significant happening in the technical study of the chart of a stock. Price consolidated for about six months. Breakout means traders see some good value in the stock and they are ready to pay a higher price. However, what could be the probable target in near term? The distance of the consolidation is 100 points approximately....
The pattern may be considered as Rounding Bottom. Price is about to breakout. Target is 250 plus from the breakout level.
Consolidation and yesterday bulled made a faild attempt to breakout. There is one more pattern-- Ascending Triangle. It means bulled are closing up to give a breakout. It also means that price fluctuations are reducing by day.
Bulls have laid down their arms since bears could thrash 10500 defence of bulls. Bearish short term trend. 200 DMA is almost visible at 10324.