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As suggested in my previous idea, below 2163, 2121 and 2073 is expected, and as soon as it broke the support it made low of 2091. Now, RELIANCE has formed a reversal pattern. The pattern will be valid and trade can be executed only if price holds above 2134 levels for target 2188, 2226, 2256 levels, else we could see 2173 and 2156.
Link below for the previous...
PEL is a fundamentally weak stock with alarming PE of 380. It has been observed from the technical chart that the price action is forming lower highs with bearish candlestick patterns, indicating bears hold on every rise. Today, we have observed a bearish gravestone doji pattern after last day bullish candles, indicating the return of bears that may now take...
Note: This is for educational purpose only.
21 EMA is above 55 EMA which indicates short term uptrend. 21 EMA has been acting as dynamic support previously as well.
Moreover, there seems to be a bullish engulfing on 21 EMA. RSI above 60 indicates bullish momentum.
INDUSINDBK has formed flag pattern after bullish move from breakout of cup & handle pattern.
It also have trend line intersecting at current price.
Above 630.5, it can show another set of move in coming days or tomorrow.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging...
ITC (CMP: 172.20)
Date: 12 Oct 2020
Interesting setup in ITC. Today's price has broken the falling trendline and most important point to note is that the volume breakout is 3 times than the avg. volume in the last 40 days. The only concern is that today's inverted hammer candlestick couldn't give breakout above the 20 DEMA. However, since Covid, whenever RSI in...
Note: This is for educational purpose only.
After a steep downfall, there seems to be a bullish hammer/ bullish pin bar at support level. Moreover, there seems to be a bullish RSI divergence which indicates there might be rise in price.
According to technical indicators and candlestick analysis looks like the Indian I.T sector share gets overstretched and correction is possible. Also, RSI is in the overbought zone (80), and also in day frame analysis, it has formed a "Shooting Star" pattern (Trend reversal pattern).
Here, by Nifty I.T analysis I am referring to I.T stocks
Eg: NSE:TECHM , ...
Currently infratel trading end of its ascending triangle bullish trend formation. We will see either breakout or breakdown in this stock in tomorrow session. There have two possibilities mentioned in the chart due to stock trend is downtrend but the market trend is positive.
Keep an eye on BHARTIARTL forming an official book like triangular pattern this might breakout soon in upcoming days.
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Calculate your RR Ratio and then trade. Stoploss should be below the previous immediate swing.
Note: This is for educational purpose only.
21 EMA seems to have acted as a dynamic support before in Laurus Labs uptrend. There seems to be a bullish engulfing at 21 EMA. RSI above 65 indicates bullish momentum. There seems to be a bullish breakout in RSI as well.
Inverse Head & shoulder pattern formation in nifty. It indicates a stronger bullish move above 11305 levels. According to the pattern, we will see the minimum target is 11475 after the breakout.
Here is my 2 cents on HDFC LIFE as why I am very bullish on the stock
1.Inverse Head and Shoulders pattern on daily and weekly time frame.
2.Decending Triangular pattern on upside, signifying continuation of major trend i.e., uptrend.
3.100 day Moving Average support.
4.3rd time taking support on the trend line.
5.Stock taking support 3rd time at 0.236 Fibonacci...
Beautiful Symmetrical Triangle pattern shaped up in CHOLAFIN.
Waiting for confirmation of pattern and upside breakout.
Levels mentioned on chart & given targets seems achievable.
Plan your trade accordingly.
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’,trade at your own risk.
"Trade what you see, Not what You Think"
Happy Trading(:)
95% TRADER TRADE WHAT YOU SEE ON THE LEFT SIDE. THE PERSON READING THIS , YES YOU ! You have also traded like the 95% retailers havent you and at some point you realise that it isnt working for you!
Smart money lies with the 5% , but you never realise that !
![INFRATEL: [Short Term] INFRATEL Ascending Triangle Pattern Analysis](https://s3.tradingview.com/j/jIYft2i7_mid.png "[Short Term] INFRATEL Ascending Triangle Pattern Analysis")
![NIFTY: [Short Term] Head and Shoulder Formation Breakout above 11305](https://s3.tradingview.com/y/YdqFGIZT_mid.png "[Short Term] Head and Shoulder Formation Breakout above 11305")
