Reliance made new Higher Low, could this be reversal towards New Higher highs ?
It looks like Sbi card will take a proper bull ride. I am invested till it touches my Fib to 1.618. Lets see.
Looks like Pennant breakout, colud be a start of bull run. Watch out.
It presents range between 794 to 823 on hourly chart. Although consolidated on daily chart. Might retrace back for a while.
I have provided Target line and support line, subject to OBV sustaining above resistance line.
Explanation is on chart. I hope tHis might help someone who is extremely bullish on RIL.
On fundamental levels this company is solid. No Doubt. I will invest for next 10 years with my eyes closed, however question is AT WHAT PRICE ?? In my opinion on operation level company hasn't been doing good since last 5 months and need more correction in its prices. I would definitely buy this stock between 1170-1250. This is not a tip, its my personal opinion...
If you are a follower of a DOW theory Like me, you will be bullish too. However Since this period is affected by Covid-19, I wont be so sure and it might be a reversal of Primary Trend. Chart is a much self explanatory. My idea is there could be quick trade with holding period of 1-4 days and buy sale price range would fall between 1390-1450. Above 1450, 1474...
Any discussion is most welcome. I hope chart is enough explained.
I hope Chart has enough explanation. I expect a consolidation in upcoming week. Any inaccuracy, please bring to my notice. Healthy discussion most welcome.
Daily Chart Support 1770--1710 Resistance 1770--1850 Volume Price Analysis 200EMA Crossed on 21/04/19 Constant fall in volume, still price movement is upward. Clear Signs of Bearish Divergence over the period of 1-2 months PPO -- Decline from 12/05 to 09/07 Rising Wedge Reversal-- yet to confirm, subject to pressure below 0 on CMF.
I am a learner. I wish iwould have learned this pattern 2 tmonths earlier, then i might have earned something. Nevertheless it never too late to learn. Healthy discussion is most welcome.
Daily Chart. Support 3100-2900 Resistance 3440-3650 Stochastic Oscillator (20,5,5) -- Over Bought RSI (14) -- Over Bought Again in contact with upper line in Channel OBV Indications -- 1. 19/03 to 29/05 Price fell from 2610 to 1814 Volume Increased continuously 2. 02/06 to 07/07 Price rose sharply from 1851 to 3353 Volume fell. Therefore OBV...
I am a novice in markets, Feel free to correct me. Tools: Trend Line, OBV WITH 20EMA & Prices with triangle and 100EMA Observation: IRCTC had a pricegap on 26th june as results were postponed plus nifty`s volatility. Therefore the support line which it was holding on from 7th may, finally broke on 26th june. Then it was range bound between 1340-1440, so it has...