Hi,
An inverted Head and Shoulder pattern is emerged on the Daily Chart of NSE:KCP with good volume. One can create a fresh position in the scrip at 115 with SL of Rs. 105 on closing basis for 1st traget of 125 and 2nd target of 235.
The risk to reward ratio is 1:2
Exit the position if the stop loss is triggered on DCB.
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An ascending channel is the price action contained between upward sloping parallel lines. Higher highs and higher lows characterize this price pattern. Technical analysts construct an ascending channel by drawing a lower trend line that connects the swing lows, and an upper channel line that joins the swing highs.
Ascending Channels: How to Trade This Technical...
Reliance is at bottom of rising channel on daily TF, good to take risk and trade with a small stop loss. Target 1 -2862 & Target 2- 3200. Stop loss 2300 on DCB.
An ascending channel is used in technical analysis to show an uptrend in a security’s price.
It is formed from two positive sloping trend lines drawn above and below a price series depicting resistance and support levels, respectively.
Channels are used commonly in technical analysis to confirm trends and identify breakouts and reversals.
Script = Tata Steel
Time...
IXIC index CMP 13550
Today index registered high around 13594 levels.
Ascending parallel channel resistance around 13580-13630 levels.
Bearish divergence on RSI, with respect to price.
Index if not able to sustain at higher levels, can give sharp reversal.
1000-1300 lower side possible as per channel structure.
Bulls time to be cautious
KBE the ETF for the banking sector has had increasing trading volumes since early March.
It was in a downtrend with the banking crisis apparently precipitated by the decreased value of
fixed yield bonds and treasuries as interest rates were raised. Things have since stabilized
with a pause in the rate increases in May. As seen on the 4H chart, KBE in early...
BUY - IIFL FINANCE LTD
CMP - Rs. 445
Target - 1: Rs. 560
Target - 2: Rs. 650
Target - 3: Rs. 770
.
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Technicals - Ascending Channel BO
.
This is just a view by an expert analyst, please invest at your own risk.
.
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BUY - VISHAL BEARINGS LTD
CMP - Rs. 126
Target - 1: Rs. 205
Target - 2: Rs. 295
.
.
Technicals - Ascending Triangle BO
.
This is just a view by an expert analyst, please invest at your own risk.
.
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Chart patterns look good for a short trade in Reliance industries
REASONS
1. RELIANCE has been trading inside an Ascending Channel and currently it is down under its Downswing move inside the channel
2. There is a Monthly breakdown (shown in chart) out of a 5 year old trendline support
Monthly timeframe chart below -
3. In weekly chart shown below, ...
Chart Patterns look good for a short trade
REASONS
1. In Weekly timeframe, Ashokleyland broke out of the Ascending channel on sep 2022 & Right now it formed a Bearish Pennant pattern and Gave breakdown for that too!!!(SHOWN BELOW)
2. In daily time frame, it is moving alike Inverted cup& Handle pattern(shown below)
3. In 2hr timeframe, it is...
Chart patterns look apt for a short trade in UBL
REASONS
1. In Monthly time frame, UBL has been trading inside an Ascending channel pattern taking support and resistance at perfect levels till now. (shown below)
2. Right now, it is under its down swing move inside the Ascending channel pattern
3. In Daily timeframe , Bearish Flag pole pattern...
Bosch Bullish ascending triangle formation can look for tp of
18968 and 19228 positional only daily closing above 18261
disclaimer : only for educational and learning purpose
Chart pattern does pave way for the above titled opinion
Reasons:
1. INDHOTEL has been trading inside an Ascending Channel pattern for the past 2 years , taking support and resistance at perfect levels till now.
2. Currently it is going through the Downswing move(in the form of descending channel pattern forming lower high and lower lows) inside the major...
Chart pattern depicts the situation clearly
REASONS
1. DRREDDY has been trading in an Ascending channel respecting the levels perfectly .
2. In Monthly timeframe, DRREDDY has given a Breakdown out of the 5 Year old trendline Support (White coloured)
3. Now, it is going through a Downswing(Descending Channel) inside the Ascending channel
4. Right...
An ascending channel is used in technical analysis to show an uptrend in a security’s price.
It is formed from two positive sloping trend lines drawn above and below a price series depicting resistance and support levels, respectively.
Channels are used commonly in technical analysis to confirm trends and identify breakouts and reversals.
Script = Axis bank
Time...
