This pattern indicates a negative sentiment in the stock which, if met with follow-up selling, can aggravate the negative sentiment further
If the Nifty FMCG index manages to sustain above the 35,000-levels, it is expected to see a fresh breakout toward 36,200 to 36,400 levels
Generally, trading in line with the direction of the market sentiment is considered a safer approach, since the risk-return ratio is more favourable
If the indices fail to reverse the downward trend, these stocks may further plunge up to 10 per cent
If the Nifty IT index manages to sustain above 27,200 levels, the upside bias may see a rally towards 27,800-mark in the upcoming sessions
In general, 52-week high represents a resistance level and 52-week low the support levels, and their breach is considered a key development
A dead cat bounce suggests that more weakness is likely to emerge in the near term
The ability to analyse charts not only boosts a trader's morale but also helps one acknowledge the risk involved.
Shares of Nocil and Butterfly Gandhimathi Appliances are seeing buying momentum even in the overbought territory, indicating underlying strength
Knowing all the do's and don'ts of trading in regards to learning process and failures, one needs to be clearly focused on the risk management.
With the Tata Chemicals' stock continuously witnessing buying momentum in the overbought condition of Relative Strength Index (RSI), the strength remains intact
Whenever the stock price shows a reversal near the major moving averages, the turnaround is expected to be sharp, and the volumes tend to increase
With a strong up move on March 1, 2021, the stock of Sun Pharmaceuticals now needs to cross the resistance of Rs 620 mark to see a breakout rally towards Rs 640 and Rs 655 levels
The 'Island Reversal' pattern formed by Sensex, Nifty, and Nifty PSU Bank index usually indicates a strong reversal in trend
From an intraday trade perspective, technical analysts use 5 mins, 10 mins, 15 mins, 30 mins, or 60 mins time frame on charts.
The middle EMA acts as support/resistance level in Keltner Channel
The price hike has attracted the attention of market participants, now the stock needs to cross significant resistance to move ahead.
The monthly chart shows a strong bullish sentiment if the stock closes above 95,000 levels
Only a decisive close below 47,000 may accelerate selling pressure on the S&P BSE Sensex, charts show
Sensex has already rallied 94.2 per cent (till Wednesday's closing) from its March low of 25,639