Underlying logic: 1. The price gets rejected from a level repeatedly and forms a major resistance. 2. There is an initial test of supply which absorbs some pending orders 3. The price finds a bottom and some sort of accumulation happens. 4. After the accumulation, the price tries to move back up to retest the resistance level. 5. A bull trap is confirmed when...
Forming a Rising wedge and Flag with good volume support- keep in watchlist and watch out for up move PS: this is my own view, before you trade, please analyse it throughly
I am a semi-systematic trader and my pattern scanners will more often than not look for the same patterns. After my MHRIL trade, this one is slightly different although the underlying principles remain the same. So every trade posted here will have nuances that must look out for in a breakout trade and I will try my best to explain them.
Psychology and Behind the scenes stuff: 1. At the BO, there was a massive bullish candle with a very high volume. This took out the previous resistance level. 2. The retailers saw this opportunity because the price closed above the previous resistance. Hence, they entered Longs. 3. The BO was followed by a Doji and then a Bearish candle. This indicated no...
Underlying logic: 1. The market already gave 11% in the impulsive move and created a high. Obviously, the momentum was fading out. 2. If you recall my lecture on market structure, you already know that after the creation of a high, we must come down to create a new higher low. The market cannot keep making new highs without creating a higher low. 3. There was...
Following is my bar-by-bar trade analysis of Venkeys, currently sitting at 80%+ ROI. a. Entered NSE:VENKEYS thanks to the range breakout + RSI 60 breach, indicating momentum. Stop placed at around gap filling (1650). 50DMA was ~9% away from LTP. b. Price saw a strong move on the upside on the next day with a sizeable gap-up. 2,000 psych level held + very strong...
CESC : It has formed channel pattern ( slightly ascending) for 400+ days and it gave breakout on 07 june 2021. The stock is now retesting its resistance line, if the retest is successful it can give a strong up move at least equal to the breadth of the channel . Feel free to share your views/feedback, also let me know in the comments if you liked my analysis on this stock.
chances nifty will trade in between range of 15680 to 15775levels. In case breakout of this range will give strong points move in breakout direction.Weakness possible if nifty trading below 15680 level. Upside rally possible if nifty trading above 15775 level.
Chances banknifty will trade in between range of 35000 to 35500 levels. In case breakout of this range will give strong points move in breakout direction.Weakness possible if banknifty trading below 34950 level. Upside rally possible if banknifty trading above 35500 level.
Check out daily Nifty Target for Intraday & Nifty Prediction for Tomorrow.These Forecast are based on some of the most used Technical Indicators; hence, they are expected to give accurate predictions. This Index Target, Forecast or Predictions should be used only for reference & educational purposes. The Data or Information provided may or may not be accurate or...
Titan consolidated and now trying to move further up side...Consider it for short term
Levels and detsils are clearly mentioned on chart
After Resistance breakout, resistance becomes support, retest the levels.
NSE:BAJAJ_AUTO Simple guide on how to trade breakouts from ( parallel channel ) trading range. This example illustrates how the parallel channel breakout ideally works out. Please try and spot stocks and index that are currently either trading in a range or about to breakout for trading opportunities, Keep plotting, keep learning and trade with confidence. ...
** The shooting star candlesticks pattern, also known as the Pinbar (or bearish pinbar/inverted Hammer) by some, is one of the most popular candlestick patterns among price action traders. It was the first candlestick signal that I relied on, and one that I still use today, although I trade it much differently than most other price action traders. # What...
* I am always trying to avoid trend lines when Open a chart. * You can find Support and Resistance with help of trend line but if want to initiate a trade trend lines are less reliable as compared to Horizontal Boundary. # Thats why i always preferred Horizontal Boundary lines when initiate my trade. Kindly let me know if you have any questions.
Continuously it has been forming breakout patterns. Buying at every dip. Breakout will decide further trend.
Nice Example of Range Break in Bank Nifty, below is my prediction for today. BUY -Target 30150 if market sustain above 29800 SELL- Target1 29490 if market sustain below 29775 Target2 29008 if. market will slip below 29450 N.B:- check with your financial advisor before Trading or Investing. it is totally tutorial purpose.