Yesterday due to global selling, our markets was on the way of selling as well. We Have seen Nifty future for the first time on daily chart has broken below the trend line which has been acting as support from the month of June. So I am expecting some selling in the markets, as being a technical reason. Even Indian rupee has depreciated against USD and reached 54 mark again. Situation after flop ... [Continue Reading]
Trend line A perfect analysis tool: Drawing Trendline Correctly
Trend lines are most frequently used tool in technical analysis, they can be used to get entry at the bottom/top of pullback. Its great to observe how price action finds support at the testing of trend line. For drawing a trend line you will just need two points, either two major tops or major bottoms. Just as shown in below chart: Now we will just wait for price to come towards trend line and ... [Continue Reading]