Deepak Nitrite: 18 months of sadness 😞
Updated
This Analysis was requested by anerishah269
The chart should tell you everything you need to know about
DEEPAKNTR :
However, Below are some 'good to know' pointers:
- The Price action is completely sideways in nature with clearly marked support and resistance zones
- The price has been consolidating for over 18 months now
- Owing to the sideways nature, the breakout of the trendline did not have a huge impact on the price momentum. The price immediately took a rejection from the resistance zone and gunned for a retest.
- Bearish crossover of MACD on a weekly TF is a negative
- The PE ratio has worsened
- The Psy. levels of 2000 and 2500 are at play
- We can expect some good momentum once either of the zones is broken. Until then, it's hold the fight and sit tight situation for us.
What should we analyze next?
Have Requests, Questions, or Suggestions? DM us or comment below.👇
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
The chart should tell you everything you need to know about
DEEPAKNTR :However, Below are some 'good to know' pointers:
- The Price action is completely sideways in nature with clearly marked support and resistance zones
- The price has been consolidating for over 18 months now
- Owing to the sideways nature, the breakout of the trendline did not have a huge impact on the price momentum. The price immediately took a rejection from the resistance zone and gunned for a retest.
- Bearish crossover of MACD on a weekly TF is a negative
- The PE ratio has worsened
- The Psy. levels of 2000 and 2500 are at play
- We can expect some good momentum once either of the zones is broken. Until then, it's hold the fight and sit tight situation for us.
What should we analyze next?
Have Requests, Questions, or Suggestions? DM us or comment below.👇
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
Note
Third attempt:Note
And rejection. This may be a pullback before the breakout. We wait and watchNote
Still in the rangeNote
Note
Note
Note
Note
Note
Note
Note
Note
Note
Getting ready?Note
Note
Note
Note
Note
Note
Note
Note
Note
🎯 You can now access our personal charts for all Nifty 500 companies📈
👉 Visit nas.io/TradeWithTc to learn Price Action with real life case studies.
#BeYourOwnAnalyst
👉 Visit nas.io/TradeWithTc to learn Price Action with real life case studies.
#BeYourOwnAnalyst
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.