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Ascending Channel

KCP Ltd. Bullish Inverted H&S BreakoutHi, 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. DO YOU WANT ALL MY RESEARCH FOR FREE THEN DON'T FORGET TO FOLLOW ME. I AM EAGERLY WAITING FOR YOUR COMMENTS ON THE STUDY... Disclaimer: Content shared is for information and education purposes only and should not be treated as investment or trading advice. Please do your own analysis or take independent professional financial advice before making any investments based on your own personal circumstances. Investment in securities are subject to market risks, please carry out your due diligence before investing. And last but not the least, past performance is not indicative of future returns.
NSE:KCPLong
by raigvivek
Bajaj Auto - Ascending Channel 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 Pattern Ascending channels are a common technical pattern that can be used to trade stocks, currencies, and other financial instruments. This pattern is characterized by two parallel lines, with the upper line representing resistance and the lower line representing support. Traders can use ascending channels in a number of ways. One popular strategy is to buy a stock when it reaches the lower trend line and sell when it nears the upper trend line. This strategy can be used to ride the uptrend in a stock's price. Another way to trade ascending channels is to look for breakouts. When a stock's price breaks above the upper trend line, this is a sign that the uptrend is accelerating. Traders can buy a stock at this point and ride the breakout to even higher prices. Conversely, when a stock's price breaks below the lower trend line, this is a sign that the uptrend is losing momentum. Traders can short a stock at this point and profit from the decline in price. There are a few things to keep in mind when trading ascending channels. First, it is important to use other technical indicators to confirm the pattern. For example, traders could look for an increase in volume or a breakout on higher time frame charts. Second, it is important to manage risk. When trading ascending channels, traders should use a stop-loss order to protect their profits. This order will sell a stock if the price falls below a certain level, preventing further losses. Finally, it is important to be patient when trading ascending channels. This pattern can take time to develop, so traders should not expect to get rich quick. Bajaj Auto Limited is an Indian multinational automotive manufacturing company based in Pune. It manufactures motorcycles, scooters and auto rickshaws. Bajaj Auto is a part of the Bajaj Group. It was founded by Jamnalal Bajaj in Rajasthan in the 1940s
NSE:BAJAJ_AUTO
by piyushbafna000
KBE the banking sector ETF trending in a channel 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 May reversed and began to slowly rise in a parallel ascending channel and was about to pivot toward the channel bottom at the support trendline. The RSI indicator shows RSI topping at 90 while the zero-lag MACD shows the k /d lines crossing over the histogram. Accordingly, I anticipate a trend down on KBE for one week suitable for a short trade. The stop loss is immediately above the resistance trendline at 38.50 while the target is 35.70 with a reward to risk of approximately 3: 1. I anticipate a one week trade and then will watch if price reverses in the channel. The red flag here is if the fed does not continue the pause and instead raises interest by 25 basis points, this would impact banks and so their stock prices imbedding into KBE.
AMEX:KBEShort
by AwesomeAvani
RELIANCE to Dip via Inverted Cup & Handle ??!!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, we can clearly witness lower high and lower low formed recently confirming Bearishness!! 4. In daily timeframe , it is trading in the form of an Inverted Cup & Handle and its due for Breakdown!! 5. Target levels mentioned as Horizontal dashed green lines 6. SL can be day candle closing out of the purple slanting trendline 7. Safe Entry can be after 2hr Breakdown out of the Inverted cup & handle pattern. Let's wait & watch, how it moves!!! NOTE - Just Sharing my View....not a tip nor advice!!!!
NSE:RELIANCEShort
by mmjimm
5
Ashokley Numerous Bearish signs!!!!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 trading inside a DESCENDING CHANNEL and also there is Bearish pole pennant pattern seen. 4. There is an UNFILLED GAP ZONE (127- 125 RANGE)(Gaps often gets filled) 5. Target(dashed bright green lines) & Sl(dashed red line ) levels mentioned @ chart 6. Gap zone(green rectangle ) can acts as good support!! Just be fixed with the SL level. Let's wait and watch how it moves!!! NOTE - Just sharing my view....not a tip nor advice!!!!
NSE:ASHOKLEYShort
by mmjimm
UBL Brewing down to its Major Support ??!!!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 developing and due for BREAKDOWN!!! (shown below) 4. In 4 hr time frame, it is looking good to enter the trade ( STRUGGLING TO MAKE HIGHER HIGH) 5. Entry can also be after a 2hr breakdown out of the flag pattern(pink line) 6. Target(bright green)& strict SL(bright red) levels mentioned as Horizontal dashed lines Let's wait & watch how it moves!!!! NOTE - Just sharing my view....not a tip nor advice!!! Regards, mmjimm ;-)
NSE:UBLShort
by mmjimm
INDHOTEL Down to its 2 Year old support ??!!!!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 ascending channel . 3. Weekly time frame chart below 4. Target & SL levels mentioned @ chart 5. Entry can be made after hourly breakdown out of the white trendline as shown below Let's wait & watch, how it moves!!!! Note- Just sharing my view....not a tip nor advice!!!!
NSE:INDHOTELShort
by mmjimm
DRREDDY INTO BEARS WARD ???!!!!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 now in Daily timeframe, it is Consolidating tightly in form of a Rounding Top . 5. Target & SL levels mentioned @ chart. Safer SL - Day close above 4500 Let's wait and watch how it moves!!!! Note - Just Sharing my view....not a tip nor advice!!!
NSE:DRREDDYShort
by mmjimm