We have good news lets see how to trade it on charts with proper risk management rules and setups :)
👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins
✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows
✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges, and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts
✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position.
✣ Supply/ Demand: In the supply zone , the prices are higher than the bid price, and in the demand zone , they are lower. The bid price is what a trader is willing to pay for a stock
👑 Important levels - explained well
👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :)
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only. ✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow ✣Don't lose hope and keep grinding ✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily. ✣Focus on the process, you are here to make money not stupid decisions and lose it all ✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market. ✣Believe in yourself :)
🎓🎓 Some info about me :)
âž¼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all. âž¼I hope you will love my simple analysis style. âž¼Feel free to suggest your view on this as learning is earning here :) âž¼I take my trades on my Zerodha account :) âž¼I don't take all the trades I post âž¼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
@surku9876, as you can see it broke the bottom so let it first come to support trendlines for a good long then will see SL adn trade activation
nathjitu92
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Whts your long term view on this particular stock.. say for 2-3 years.. can we see 4000-5000 level???
Averoy_Apoorv_Analysis
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@nathjitu92, monthly pattern has the potential to go to 1880 levels, double bottom type pattern top target :) on M charts
rhjain
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I have a question, please clarify to help!!!
1. The RRV will open a open offer from 9th Sept at 1022 however the monthly target on chart showing 1880 rs, does it mean the stock will touch the 1880 rs and reverse upto 1022 for it's open offer?