PRICE ACTION TECHNIQUE

15 באוק׳ 2021

AXIS Bank is following a wonderful chart pattern on the 1 day chart with a beautiful price action. Talking about the technique, the upper and lower trendline acts as resistance and support respectively. The median line also plays as a resistance and support role depending on whether the price is deflecting from below or above trendline. In this case we can observe that the price has crossed the median line from the below trendline, hence breaking the resistance of the median line which now will act as a support. Hence keeping in mind the above trendline as a resistance, we can keep that point as our target, and we can buy now at current market price, with stop loss indicated on the chart. Options can also be done on this chart, by buying 800 CE or selling PE. I personally prefer selling puts as it also makes money when the price is at strike price and theta decay is an additional bonus.
The RSI is also having a good momentum and this indicates that AXIS bank is a good buy for a small swing trade. Keep it simple and make smart money.
Keep following me and also comment on this analysis on what you think about it. Happy Trading Everyone!

19 באוק׳ 2021

עסקה סגורה: היעד הושג

This beautiful price action short swing trade has achieved it's target in less than 2 trading days. Keep following me and hit the like button, if you want to make the best use of opportunities and also make smart money. Happy Trading everyone