ALL the government companies are undervalued.
Here IOC MADE MONTHLY AS WELL AS WEEK SUPPORT ON CHART AT LEVEL ON 73.50
So just study a trade and take position , if already you have it than just hold.
SL :- 67.00
Limit :- 90-110 (In 5-6 months)
Note :- Do not go with my advice , study a trade !
Hello i am Zeel Goswami,
Something major spooked markets all over the world today. There are loads of theories out there. For Technical Analysts, it doesn't matter too much. 'We' just need to catch the change in sentiment in time.
The India50 - often called the NIFTY - made a massive trend switch - best seen on the 1H time frame. Big dumps like these usually see follow through - how...
The short answer is that I don't know! As I keep saying, I don't own the future. I'll say what I see and my inferences.
1- Wide zone of congestion approaching - likely to cause hesitation.
2 - A rising contracting wedge.
3 - A retracement on the 1D time frame up to near 76.4%.
None of this is predictive of anything. Markets do as they like - or more...
Whilst the Indian market tends to follow the DJI a fair amount - as do other indices - there is major trouble with the virus in India, which probably exceeds that in America. (Expand the chart for a better view)
This is a market worth stalking. It may follow the DJI to some extent, but history has shown that it can do 'it's own thing'.
The current position is...
AS YOU CAN SEE RELIANCE IS AT ITS MAJOR RESISTANCE AND ITS ALSO NEARLY 60% UP FROM ITS PREVIOUS LOW WHICH MEANS FIBONACCI RETRACEMENT POINT IS ALSO ACTIVE HERE SO THERE IS EXPECTED BREAKDOWN IN RELIANCE AND IT MIGHT BE A SMALL CORRECTION.
ITS ONLY FOR EDUCATIONAL PURPOSE
ROUNDING TOP IS A BEARISH PATTERN AND IT USUALLY SHOW EXPECTED REVERSAL IN THE ONGOING TREND. TAKE POSITION ON BREAKOUT AND EXIT ON NEXT SUPPORT OR MAJOR SIGN OF WEAKNESS. BREAKOUT SHOULD BE SUPPORTED WITH VOLUME.
CONSULT YOUR ANALYST BEFORE MAKING DECISION .
TAKE POSITION ON BREAKOUT SUPPORTED WITH VOLUME. ALTHOUGH IT IS A BEARISH PATTERN BUT SIDE OF BREAKOUT IS IMPORTANT FOR TAKING POSITION.
STOP > HIGH OF LAST CANDLE FOR SHORT/LOW OF LAST CANDLE FOR LONG (IN WEDGE)
MINIMUM TARGET - HEIGHT OF PATTERN
This is a 2H time frame set up. I show how this could be worth a shot south or a shot north (subject to your acceptable loss).
The estimated probability south is 55% - which leaves 45% for the north.
Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. Any previous advantageous performance shown in...
The Indians are looking weak on this 3D time frame.
The theory of curves says (at the moment) that price is losing steam for the north. South is the greater probability estimate. Note: this leaves a residual probability for the north.
Disclaimer: Lose your money and sue yourself!
This is the INDIA50. Lots of people are not interested in this but interest is growing. I show how I assess probability for the south for a short entry.
Disclaimer : As usual this is not a recommendation to trade securities or derivatives. If you lose your money kindly sue yourself.
The Indian Markets are hardly every the topic of discussion on Tradingview. Most people look mainly for the DJI - cuz 'America is great'. For me, it don't matter; wherever there is an opportunity I'll pay attention. The Indian Market is in a precarious position right now.
I see some sort of expanding upward wedge. This can create probabilities for the north or...
The India50 is not one that's often talked about. I show how I estimate the price action and probabilities for a short position. As always if anybody is getting into this, prepare to lose! This is a loser's game - we can't win without losing, end of story.