For study purpose How banknifty retested prev tops n moved

Banknifty monthly chart picture shows how it crawled up by breaking sloping n horizontal top trend lines

After each breakout it moved higher n retrsted prev tops

After retesting again gone higher....

Same patterns when there is correction

this is old n simple technique can apply in intra daily weekly price chart also

JUST FOR DTUDY PURPOSE

TATAMOTORS... JAI GANESHA

Om Ganesha Namah!!

Today chaturthi day n venus is back.... Venus will give strength to auto sector lets see #Tatamotors

Tatamotors a high beta momentum stock played from 300 -590 on every step.... at 590 expected dip n added on dips..played nhit all tgt till jan 2017..

Holding some longs of 505/ 448 range... last 2 month we saw volatility of this counter is flat consolidation .... as avg move per day is of 20 pts from top to low pt of day ... in last 2 month it shrink...

Now what is stored.. stock Rsi reaching to bottom and price us retesting the breakout from trendline....

So 448 is support for timrbeing n below it 430

Tatamotors as in rectangle box ..expected to touch Trendline n move up for 480/540/580/640....
In 26 days- 540 in 65 days 640 (Equity only)

Futures if any1 enter 450 may good with hedge of 450 apr put ... so if dip come 445/440 book put 450 n shift in 440.. this can b done at every strike so small profit from puts will b booked ..on bounce back of fut ..there will b profit frm fut also profit of put in hand..

Options some May 500ce n april 480 ce csn b played wid calculated risk

Jai Ganesha

FOR STUDY PURPOSE ONLY ... FOLLOW SEBI GUIDELINE GOR TRADING N INVESTING