Has #TECHM made first Higher Low? If so, big move ahead possibly - Huge Weekly Supporting Trendline
- After Selling pressure, the stock entered consolidation zone.
- Big volumes came in to this consolidation suggesting that it was accumulation.
- Seems to have made the FIRST HIGHER LOW
- Observing HIGHs & LOWs on lower Time Frame to time the Entry.
- Any dip appears to be a BUY
- Buying here could mean buying at the beginning of new Uptrend.
- After Entry, you could consider trailing Stop Loss With EMAs (I use an EMA rainbow) on a smaller swing time frame (I trade 30 min).
All the best!!
Sensex
6R Opportunity; Buy Zone Marked on Chart- Break of Down Trendline (forming a falling wedge in the end) indicating that Selling pressure has subsided.
- RSI showing Double Bullish Divergence is another indication.
- The last gap down opening was filled by a close above it.
- A Retrace to the marked Buy Zone is a buy.
Indian Oil Corp Price at monthly trend linepink line is monthly support around 70 rupees.
it is important to see this level when price hit this trend line support if price able to maintain this level than it can move upward to short term target 80 , 90 , 100 as relief rally ( corona crisis so it can repeat usoil rally too.)
no oil consumption can lead this to 50 , 60 rupees zone. same as usoil contract about to expire and negative price hit. but yes until pandemic is not over oil will go dip
SENSEX & NIFTY Dead cat bounce? Judgement Day is close by!I feel like we are still in a bear market. After the lockdown extension (if extended, which it mostly will) it will trigger another sell off in the markets. I'm currently have very tight stop losses to my positions. I suggest you do the same..
- Kautilya.K
2008 vs 2020 Nifty Index2008 vs 2020
as we see similarities of first decline of -30% (2008) & -39% (2020)
and first correction of 25% in both 2008 and 2020 scenarios.
2008 2nd decline +4 months -28.5%
2008 3rd decline +4months - 51%
Total depression in 2008 was 64.55%
Depression will we see in 2020 should be should be above 60% too
bullish trend we are seeing in 2020 is just a correction
Nifty Demand and supply zones according to me
Nothing to add much, in such markets i love to fall back to basic rules. For me the most basic rule of the market is Demand and Supply.
Market never turns its back towards this system, price will always respect these zones.
Other two systems i will prefer after zones is channel and Fibonacci, have used all three in this chart. Mark these levels on your chart. This chart is having extremely important data in it, analyse this chart deeply.
I know i am sharing idea after long time, was busy with some stuff hence forth will try to share ideas more frequently.