Trying to find the direction with BB alone. All Futures Chart were used.
BHEL Futures : After walking the Upper Band for almost 2 weeks, today it left and closed inside with a big down candle. Looks like the down move shall continue. One can Short below todays low.
ICICI Bank futures : It has breached the Lower Band in big way and also opened Down with a gap ! The Lower Band support being lost, it should continue it move in the same direction. A Shorting candidate.
SBIN : Its nowhere vis a vis BB ! Seems will continue to drift. No trade.
TATAMOTORS : On 14th July the candle was breaching the Lower band with High Low of 404.45 and 382.55 ! Ever since this range of the stock has not been breached. It has sort of made an IDNR 8 sort of formation on the Lower Band. Expect a breakout in either direction.
WIPRO: Almost similar to BHEL ! Yesterdays Candle on BB top indicated a continued upmove but todays down move must have surprised the market.
Wipro has moved from BB top to make a BIG down candle inside the upper half of the BB ! Looks like a viable shorting candidate.
BHEL Futures : After walking the Upper Band for almost 2 weeks, today it left and closed inside with a big down candle. Looks like the down move shall continue. One can Short below todays low.
ICICI Bank futures : It has breached the Lower Band in big way and also opened Down with a gap ! The Lower Band support being lost, it should continue it move in the same direction. A Shorting candidate.
SBIN : Its nowhere vis a vis BB ! Seems will continue to drift. No trade.
TATAMOTORS : On 14th July the candle was breaching the Lower band with High Low of 404.45 and 382.55 ! Ever since this range of the stock has not been breached. It has sort of made an IDNR 8 sort of formation on the Lower Band. Expect a breakout in either direction.
WIPRO: Almost similar to BHEL ! Yesterdays Candle on BB top indicated a continued upmove but todays down move must have surprised the market.
Wipro has moved from BB top to make a BIG down candle inside the upper half of the BB ! Looks like a viable shorting candidate.