Price action with Candlestick Analysis(No indicators)



RELIANCE:

a) Formed an INSIDE BAR
b) Quadra Given Sell Trigger
c) Scrip is at Fibonacci Support Level
d) Stochastics in Oversold Zone
e) Today's volume for Inside Bar is Low

How you will play this scrip?? :?
 

gurmy.

Well-Known Member
Thankyou all for giving the access. Posting one more chart, please provide your inputs.


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dear savio

this stock in in a down trend,last weekly close was below the support line

ideally we should take cue from weekly chart and act according to that

u can still buy because it is giving a close above the support line

but if u buy now,where will be your stoploss

it is at the low of pr bar,104

are u comfertable with it?

thanks
 
Last edited:
Hey Hik, can you post 2 charts one with a daily time frame and the with a intraday time frame, so i can get a general idea of what a good entry would look like on a intraday chart?

Thanks bro
 

hik

Well-Known Member


Uploaded with ImageShack.us

dear savio

this stock in in a down trend,last weekly close was below the support line

ideally we should take cue from weekly chart and act according to that

u can still buy because it is giving a close above the support line

but if u buy now,where will be your stoploss

it is at the low of pr bar,104

are u comfertable with it?

thanks
Thankyou all for giving the access. Posting one more chart, please provide your inputs.


Gurmy Thanx a lot for replying when im not around , what you said is correct, but finally that pin bar didnt close above support, infact it closed below support. So , pass for me.
 

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