NIfty50 stock BPCL formed Ascending triangle pattern.
You can see Rising lower trend line having ascending Higher Lows and a Flat upper trend line acting as resistance line.
I have marked A and B point, to calculate the target.
Price at A point = 252
Price at B point = 478.65
Formula to calculate the target is
Target = (Price difference between A & B) + Price...
IRCTC is taking support at rising trend line multiple times.
Ascending triangle is clearly visible. This pattern gives smooth move on upside.
Similarly Descending triangle gives smooth move in downside.
Currently IRCTC is moving in narrow range ( marked by dotted line ) either side break.
If it breaks on downside that will mark a lower high and new Lower low...
Breakout with good volume..
Ensure weekly closure above green line.. 92.6.. Indicating trend reversal
Previous resistance acting as good support now..
Targets expected given in chart..
Let us see what market gives..
Chart is only for learning purpose. This is not a recommendation for buy or sell..
KEEP IN WATCHLIST.
ASCENDING TRIANGLE ON CHARTS.
CAN INITIATE TRADE AFTER BREAKOUT WITH STOP LOSS BELOW BREAKOUT CANDLE
CURRENT TRIANGLE PATTERN SUGGESTS TARGET OF 150 AFTER BREAKOUT.
** EDUCATIONAL PURPOSE
Tcs spot cmp 3190
ascending triangle pattern formation
over sold on all time smaller time frames
bullish cross over in hourly and 240 mins time frame
bullish divergence of rsi and macd
bullish engulfing pattern formation
good long candidate for new life time high,,,
Short term Ascending triangle breakout and retest done (divergence confirmation) of the Inverted Head and Shoulder pattern.
Short term target is the breakout level of the Cup and Handle.
Above breakout level we would see higher targets in the long run.
DISHTV is hitting its year long resistance at 16. Looking at the price action of the stock and the heavy volume, the stock seems to be exhibiting signs of a bullish break out. The bullish view is also being supported by the price action in Nifty Media which is also bullish. We are looking at a multi-week target of 42 on the stock, which has also acted as...
INDIGO - Swing trade key points
Weekly resistance at 1800 to 1900 levels
Weekly support zones at 700 to 800 levels
Week timeframe pattern is broadening pattern so we night break this hurdle on weekly basis with a power green candle and then a good upside is
possible for 25% to the levels of 2200
Day time frame suggests an ascending pattern with good dip...
NTPC is making an ascending triangle pattern from 4th June 2021 and is on the verge of breaking out.
Can go long above 121 with a High Volume Breakout and retest for the following targets.
Overall Nifty is in a Rising Wedge.
The way it is shaping up after a cup breakout and now 3 VCP in an ascending triangle, it seems the short term correction will be over soon, unless something drastic happens and the ascending triangle is breached on the downside.
MACD also looks bullish for now.
The stock has shown a minor break out of the ascending triangle pattern today, coupled with spike in volumes.
Cement stocks are expected to have good results this quarter, and Sagar Cements will be no different.
Also, this stock is expected to be split soon (1:10), which can add on to the momentum.
I feel this can be bought at current price for a target of 1295...