Patterns + OBV = Right Target

Hi friends,

In this thread I will post those charts in which diff. patterns are forming & I will analyse it with OBV indicator.

In Unitech Descending Triangle Pattern has formed
(confirmed with break-out).

One more imp point, just look OBV relationship with price.

Target according to pattern is 430 & if my OBV analysis is right than it may go up till 480

Comments / Views are always welcome.


Disclaimer: This thread is not for recommendation; this is simply for analysing purpose.

Explanation: (Refer Chart)

Look at the OBV relationship with the prices.

Point No.1 There is a change in support/resistance level of OBV but, prices did not move as expected i.e., it remain in its same trend/level (sideways)

Point No.2,3, & 4 There was a decline / reaction in OBV as well as in prices but still, prices remain in the same trend/level (sideways)

Point No.5 There was another decline / reaction almost same as before in OBV but, look at the prices it went down below its support level.

By this I mean to say,
A change in support/resistance level of price which was already shown in OBV (at point no.1) actually took place after 3 months in prices (at point no.5 in OBV)

Now, the current level of OBV (point no.7) is increasing & if the volume also increases daily then, be sure (according to analyse) prices will definitely increase above 960.

One more thing, there is a Symmetrical Triangle Pattern formed with confirmation break-out on high volumes.
TRGT- 845,

OBV Target 960+ (OBV trend should not change)

Comments / Views are always welcome