Trading in Channel.
Downward momentum reducing gradually, which is good thing.
Demand Zone near 140-150.
Shouldn't break Min. support, if at all, max. support.
RSI Breakout can keep in watch.
A positive breakout of Upper trend line from Demand zone is VERY bullish.
Immediate support @165, closing below this level, we can see the stock heading to demand zone.
BEPL looking like in Consolidating and Forming the "Descending triangle" pattern on day charts.
Price recently got rejected from 50% levels recently and moving side ways with lower levels.
Although its making strong support at 155 - 160 levels, but looking at overall trend and nifty , price likely to break the support.
This confirms the bearishness and...
Jet Airways Hourly Chart
Scenario 1: Price is at 50% retract and demand zone, it can move up if candle closes above .618 retracement
Scenario 2: If closes below 0.382 level then Jet Airways heading towards 665 - 670 levels to complete cypher pattern
HEG limited shown good strength in today super bearish market too.
Today HEG retraced from demand zone which is also Fibonacci 50% level making that level as strong support.
And price continued its upward movement till 1.382 level and retraced sharply. Thus creating a new demand point around 3140.
As the trend continues! We can expect HEG to be in 3400 in next few days.
My #Nifty analysis
»» Nifty took support on 200 DMA on day charts and gaining momentum
»» Nifty closed below crucial 0.618 level and struggled between 0.5 & 0.618 in previous sessions
»» Nifty making head & shoulders patterns on day charts
»» Nifty should cross 10650 and should close above 10760 to make new high
»» Nifty, if closed below 10130, we can see...