We finally witnessed a decisive price and volume breakout from the recent congestion zone in Strides Pharma
In general, 52-week high represents a resistance level and 52-week low the support levels, and their breach is considered a key development
Although there are ups and downs in the market cycle, having an in-depth understanding of these phases facilitates the trading behaviour and improves the trader's morale
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
A breakout above Rs 2,100 in RIL's counter may see a rally towards 2,400
Whenever, the +D and -D make a crossover, the trend is expected to shift in a more concrete manner in the respective trend in all time frames
Every aspect of candlestick chart helps traders easily read a trend even if he/she has a basic understanding about candles.
Adani Enterprises, Berger Paints (I), Bharti Airtel, Eicher Motors, Grasim Industries are among the other notable names
In OBV indicator, a positive close candle volume is added cumulatively and negative close volume is subtracted to determine the trend
Nifty Bank index may hit record levels of 33,000 if it surpasses the resistance of 32,300
The three basic charts are: Line charts, Bar charts, and candlestick charts
The two major cyclical indicators that assists in identifying the shift in cyclical trend are: Commodity Channel Index (CCI) and Detrended Price Oscillator (DPO)
Both indicators have different use in a trading model. It is not easy to follow the price after a leading indicator delivers a trading signal.
The next positive catalyst may be a sharp refining margin recovery, which is more of a H2CY21 story, says JP Morgan
Once traders get a hold of technical analysis, their behaviour tends to become exaggerated.
HDFC twins are nearing all-time highs while Bajaj group stocks have seen a tremendous surge in the ongoing November series.
VRL Logistics has maintained a strong base near Rs 145 level.
For Sensex, Nifty50, and Nifty Bank, the underneath trend is bullish till the crucial support levels are held on a closing basis.
When it comes to choosing a risky investment, market participants opt for stocks with higher standard deviation that provides volatility, which can be used for quick profits.
A confirmed breakdown reflects upcoming selling pressure when significant levels are expected to get broken. Even investors look for early exits.