Hindalco: Will It Clear Upper Parallel?After being rejected at the blue upsloping medianline, the red fork now seems to be in play.
ShortPitchforks
Short
Ashok Leyland - Breakout from Pitchfork Pattern It is been observed that the price action breaks out from a previously trending Pitchfork channel on daily chart. It is indicating a bullishness in further price action and shall move higher levels if it manages to close above 82 price levels. It can also be called as a short term trend change.
Target: 86
Stoploss: 82
Long
Short TATACHEM at UML PF tradeThe stock is showing good frequency at the MLs so one can short at current level. The trade offers a good Risk to reward ratio even for the first target.
Short
NIIT Tech: Will the Blue Fork Take over?Look at the annotations in the chart. Plain and simple Andrews Pitchfork rules at play. Price has taken out a minor swing high, indicating a change in behavior.
NLong
Nifty: Which Of the Two Forks is Valid?Your guess is as good as mine wrt above question. If price breaks the lower parallel of magenta fork, it would be a failure and hagopian rule will be in play.
Divis Lab: Consolidation Near Medianline, Will it Breakout?Stock consolidating near the medianline. Would get excited on a breakout. Watch this stock
Long
NIIT Limited: Watch The Green Pitchfork The green fork has been in tune with the price action. Check annotations for more details.
Long
Nifty 15 Mins: Are We In For A Bounce? Price has been ranging for a while now. I have a What-if fork in place. Note the reversal bar off the lower parallel. Am stalking this for a potential long trade. the green and the orange colored line represent resistance / target.
Long
Nifty: Is price headed to the Warning LineOnce again the simple Pitchfork does a fabulous job of containing price action and providing key reference point. Check the chart annotations.
Short
Ashok Leyland Pursuing Downward TrendAs shown in the chart, the pitchfork pattern indicating that the price action is trending downward.
Short
Nifty: What-If ForkAm having this downsloping fork as a What-if candidate. This gives me a better perspective and a balanced view. Check annotations in the chart
Nifty: Price Hits MedianlinePrice has hit the medianline and #Andrews101 states that price could turnaround or congest or breakthough that medianline and progress higher. Of the three options, the third one seems unlikely given the fall on Friday.
The other two options - Congestion or turnaround (trend-reversal) are the two potions we are left with. We just have to wait for a few weeks to conclude if a significant HIGH is in place for the Nifty -0.96% .
For me, the low at 8,540-ish is the crucial reference point. Until that low is breached, there is nothing to worry from a long term perspective.
Nifty: Price Hits MedianlinePrice has hit the medianline and #Andrews101 states that price could turnaround or congest or breakthough that medianline and progress higher. Of the three options, the third one seems unlikely given the fall on Friday.
The other two options - Congestion or turnaround (trend-reversal) are the two potions we are left with. We just have to wait for a few weeks to conclude if a significant HIGH is in place for the Nifty.
For me, the low at 8,540-ish is the crucial reference point. Until that low is breached, there is nothing to worry.
Long