About mePivotal traders is a community of traders lead to determine sustainable profit path for trading in derivative instrument in the Indian Market. Analysis in the channel are intended for Educational Purpose.
Axis bank seems to be on good strong trajectory after it has recently filled up the downfall in lesser than the duration of the fall. The recovery not only showed the strength but also builds confidence that the stocks fails to move down even the big red candle with high volume. Stock was able to lift the price beyond it and now is trading in range bound fashion...
Crudeoil has exited its Initial Balance (IB) range with heavy volume . It is natural that the price would come back to re test the point of Open-drive (i.e. the range box). Expecting a continuity in the momentum of spike.
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Bank Nifty is forming a descending triangle where a breakout is pending. It should most probably be today.
While a descending triangle gives downward spurt however the failure of the pattern is equally likely and can give good upside potential. However here a negative outcome is expected from this Idea.
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