Hang Seng Index Ready to Outperform Global Market AND TRADING NEAR LOW RISK ZONE .
If you want to select any PSU BANK now then SBI look better because trading near Multiyear support ,
In bigger time frame price always follow a channel and our work is to enter near channel lower boundary and exit near channel upper boundary
Current Bad Market conditions price break the upper range after strong consolidations
After a strong uptrend now price trading near momentum line start from 2020 low
ICICI BANK: Q2 SL NET PROFIT 102.6B RUPEES VS 75.6B (YOY) || Q2 REVENUE 349.2B RUPEES VS 260.3B (YOY) ICICI BANK: Q2 GNPA 2.48% VS 2.76% (QOQ) Q2 NET NPA 0.43% VS 0.48% (QOQ) Q2 PROVISIONS 5.8B RUPEES VS 12.9B (QOQ) RESULT IS GOOD but price trading near Multiyear Resistance so buy on Dip better strategy for this stock . Major Support near 870
After price following Multiyear uptrend channel finally price break lower boundary of the channel .
After a strong consolidations finally price ready to break multiyear resistance .
After this breakout high probability price test its life high
After a strong uptrend price consolidate and break the upper boundary with low volume .
Price trading near multiyear channel upper boundary thats not good this index
Price break life high after strong consolidations ... if price not break previous swing low then high probability we will see a continuation move .
After a strong down trend finally price out from the down trend and try to establish a uptrend setup invalid below 59
After Strong Down Trend price try to make a base and when price sustain above 500 then we will see a good move
Price break the 5 years consolidations zone . Setup invalid if price break below 53
✅Larger the base bigger the move 32 Months Base Breakout . ✅Price out from 10Years Down Trend Channel . ✅ Invalid below 80 ✅Always follow your qty. Management Rule becoz without qty. Management nearly impossible net profit in Stock Market .
✅Price trading near Multiyear Resistance Level once break we will good move in #orientpaper ✅Larger the consolidations Stronger the move .