sharechart Technical Newsletter vol-1 issue-12
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The document discusses the trading performance of ACE Development Bank's stock, highlighting a trading range between Rs. 250 and Rs. 300, followed by a breakout above Rs. 350 leading to a potential exit point between Rs. 410 and Rs. 490. It emphasizes the importance of support and resistance indicators, suggesting that valid levels are established through repeated testing and volume. The newsletter serves as an educational resource and should not be considered as investment advice.
sharechart Technical Newsletter vol-1 issue-12
- 1. ACE DEVELOPMENT BANK (ACEDBL) DESCRIPTION Banking Index Development Index Finance Index Hydropower Index Insurance Index SHARE CHART Vol. 1 Issue 12 R2 -1206.22 R1 -1194.24 Pivot -1185.45 S1 -1173.47 S2 -1164.68 R2-1274.72 R1-1271.18 Pivot- 1266.01 S1-1262.47 S2-1257.30 R2-659.25 R1-649.03 Pivot -628.59 S1-618.37 S2-597.93 ACEDBL was in a trading range of Rs.250 and Rs.300 for quite a few months.However, while the price of the stock moved down towards the bottom of the range in november, the A/D line was heading up signaling accumulation when it broke through resistance – possible entry point (approx Rs.350).The price of the stock then broke through the trading range and headed towards Rs.410 where the A/D line showed signs of distribution – possible exit point (approx Rs.410-490).Once it broke through resistance Rs.300 at it moved up Ra.410 to Rs.490 where there were signs of distribution. The resulted in a profitable trade. TECHNICAL NEWSLETTER R2-2285.81 R1-2266.03 Pivot -2252.63 S1-2232.85 S2-2219.45 R2-5571.85 R1-5543.26 Pivot -5528.96 S1-5500.37 S2-5486.07 Date: 02/25/2016 Click To Subscribe CMP Rs. 375 Buy Above Rs.350 Target at Rs.410-490 Stop-at below Rs.300 Rules for Understanding Support and Resistance Rules detail below:- Contact Us: Email: sharechart2015@gmail.com R2 -1206.22 R1 -1194.24 Pivot -1185.45 S1 -1173.47 S2 -1164.68 R2-1274.72 R1-1271.18 Pivot- 1266.01 S1-1262.47 S2-1257.30 R2-659.25 R1-649.03 Pivot -628.59 S1-618.37 S2-597.93 The above figure shows a support and resistance indicator analysis. Note:This newsletter(sharechart) provides impersonal educational stock trading information . All material presented within is not to be regarded as investment advice, but for general informational purposes only. R2-2285.81 R1-2266.03 Pivot -2252.63 S1-2232.85 S2-2219.45 R2-5571.85 R1-5543.26 Pivot -5528.96 S1-5500.37 S2-5486.07 Trends -When the black line converged with support or resistance ,prices moved higher or lower. Places change- The same red horizontal trendline continues after support is violated, but with differing effect. Retests – The more often a trendline is tested, the more valid it becomes. Volume – If a resistance or support level is associated with increasing volume, the trend becomes more valid. 1 Kamalpokhari Mob:- 9801140245 2 3 4 5 Time matters – The more recently a level has been established the more useful it is. Email: sharechart2015@gmail.com Kamalpokhari Mob:- 9801140245