- SBI Daily chart is near resistance levels like upper bollinger band and Golden ratio.
- SBI Weekly candle is testing 20 Week SMA.
- Weekly chart is nearing its falling resistance line. Price has got some more to go for hitting this line.
- Last chart is crucial if a correction is to happen price should fall below 50 Day SMA otherwise a possible hit at the weekly resistance line exist before the correction.
great information san sir..... but sir u very often use bollinger band in ur analysis and most of the times its does not work ....do this has some other significance???
ReplyDeleteregards!!
@nifty.sense
ReplyDeleteThanks for the comment.
I try to use bollinger bands when the stock reaches extreme levels like when it hits the upper or lower bollinger band in daily and weekly time frame we can combine it with other technical levels like golden ratio or crucial moving average to catch a trading bounce.
Using it alone will lead to failure as you said.
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ReplyDelete@SAN
ReplyDeletethanks...