The green candle looks good. If breakout of trendline we are going long. The. Trendline is tested the third time probably for a reversal if there is a clear rejection of price at that level we will short and if breakout simply go long
Daily time frame analysis suggests that now the stock is going into downtrend, as chart now moves to lowerhighs and lower Lows. Further the last candle is a long bearish candle. But before initiating any trade in the stock look for the levels marked as the price moves lower to the marked level short trade may be initiated, which confirms the trend.
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observer the divergence in rsi.
rejection from upside.
both daily and weekly it is bearish candle.
we see the support at 1100, but at 1200 it might fight.
This is only for educational purpose please contact your financial advisor...
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1. DAILY HIGH IS AT UPPER B BAND.
2. BEAUTIFUL TRIANGLE FORMATION.
3. HIGH VOLATILITY IN LAST TRADING DAY.
4. 788.3 IS THE MAIN RESISTANCE AREA FOR DAILY CHART.
5. SELL BELOW 769 IS A JACKPOT.
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