#Nifty futures on short term charts
CMP 17387 - a bullish reversal pattern - 123 pullback

https://t.co/NNw64p3B9B

In the Hindu Epic Mahabharata, Ashwatthama or Drauni is the son of Dronacharya and the grandson of the Bharadwaj Rishi. Ashwatthama was a Maharathi who fought alongside the Kauravas against the Pandavas in the Kurukshetra War.

According to the Mahabharata, Ashwatthama means the sacred sound associated with the sound of a horse. He was given the name Ashwatthama because when he was born, he cried like a horse.

Here are some interesting facts about Ashwatthama.

- Ashwathama is one of the Ashta Chiranjeevi, Eight Immortals. Ashwatthama was born with a jewel on his forehead, giving him power over all living beings lower than humans. The jewel protected him from hunger, thirst, and fatigue.

- His strength is almost equal to Arjuna’s, especially in archery. Among the Kuru princes, he was good friends with Duryodhan, the eldest son of Dhritarashtra. They both have jealousy towards the Pandavas.

Duryodhan felt that Yudhisthir was his obstacle in inheriting the throne of Hastinapur, while Arjun’s talent made Ashwatthama jealous because he felt that his father’s love had been divided. After all, Arjuna was Drona’s favourite student.

Some ofthe biggest breakouts occur after Volatility Contraction, the analogy is that more a spring is pressed, higher it jumps whenever it gets released.

There is a VCP Scanner on chartink (Not mine). This may also be used to find potential Breakouts.

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Moving averages
EMA and SMA
1. Exponential Moving Average (EMA) is similar to Simple Moving Average (SMA), measuring trend direction over a period of time.
2. However, whereas SMA simply calculates an average of price data, EMA applies more weight to data that is more current
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21 EMA : SHORT TERM TREND
1. Calculates the Average Price of past 21 days
2. A stock above 21 ema is in strong momentum , which will give pullbacks to 21 ema again and again.
3. Stock above 21 ema should never be shorted so as to stay with the trend
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3. A stock which moves 10-15% above 21 ema will be too extended and hence will generally pullback
Stocks take dynamic support on 21 ema
4. You can Short only if its too extended like 15 to 20% from 21 ema ( Not advised )
#ADANIPOWER:
#pnbhousing
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1. Whenever 21 ema is sloping upwards its called uptrend
2. Whenever 21 ema is sloping downwards its called dowtrend
3. Whenever 21 ema is sideways its called consolidation
⏫Buy in uptrend
⏬Sell in downtrend
Examples:
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Lately there have been various rumours in the media about myself and Jumbo in relation to Williams. To clarify things, Jumbo is not and will not invest any money in my career. 1/2

Of course we’re collectively looking at career opportunities, however this is certainly not our philosophy and strategy. I hope to announce my future plans soon, be patient 😉 2/2