U-TURN Resistance converts into Support (EDUCATIONAL -AARTIIND)
Aarti Ind. ltd. This stock has taken Resistance twice at same level, then it consolidated as a parallel channel at that same zone,
and then it given good breakout from parallel channel along with good intensity of volume,
Now it has retraced almost 78.6%, co-incidentally (1) same resistance zone, (2) Parallel channel's top, (3) Support trend line and (4) 200 DEMA, all are there at similar point location, All these 5 conditions met at same level that can provide good support. This scenario makes probabilities very strong each time. where stop loss is too low and Reward is too Good.
Overall scenario
Perfectly U-turn from valid fibonaccy level 0.786%
Daily macd line uptick and also converging towards positive
Good support zone
Support providing 100DEMA also at same responding zone
Parallel channel scenario
Support Trend line
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
I am not responsible for your profits and losses
and then it given good breakout from parallel channel along with good intensity of volume,
Now it has retraced almost 78.6%, co-incidentally (1) same resistance zone, (2) Parallel channel's top, (3) Support trend line and (4) 200 DEMA, all are there at similar point location, All these 5 conditions met at same level that can provide good support. This scenario makes probabilities very strong each time. where stop loss is too low and Reward is too Good.
Overall scenario
Perfectly U-turn from valid fibonaccy level 0.786%
Daily macd line uptick and also converging towards positive
Good support zone
Support providing 100DEMA also at same responding zone
Parallel channel scenario
Support Trend line
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
I am not responsible for your profits and losses
YouTube: youtube.com/@rk_charts
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
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