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Ascending Triangle

DMART LONG : Multi Time Frame Analysis.DMART has been facing rejection from the 3400 level since the mid of June 2021. Despite these multiple rejections, the lows that it makes are gradually becoming higher. It took support at 3250 on 18.06.21, then again on 29.06.21, then it formed the next swing low at 3300 on 15.07.21. ___________________________________________________________________________________________________ If we zoom in to the 30 min chart, we can clearly see that the previous times when price reached the 3400 zone, it was rejected severely, but on the latest occasion on 20.07.21, price has stuck close to that level for a couple of hours and has closed very near to 3400, at 3397. ___________________________________________________________________________________________________ The formation on the daily chart resembles an ascending triangle and if we look closely, the volume has been positive and increasing the past few sessions with above average volume on 20.07.21. If DMART does finally break past this level, a long can be initiated if the price sustains above the "LONG ABOVE" level for 15 minutes, keeping the following levels in mind: LONG ABOVE: 3425 STOP LOSS: 3335 TARGET 1: 3515 TARGET 2: 3600 Remember, trade your plan, risk management is key. Like and follow for more. :) ___________________________________________________________________________________________________
NSE:DMARTLong
by Tradeception_
How to get 25% and more in INDIGO with Simple price action 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 buying at supportive trendline as shown in the video Day time frame also makes higher lows for that purpose We will attack this higher leg and will try to extract the maximum out of the stock Risk to reward is favorable from this point and quite logical as per price action Risk is 4% ( 1650 would trigger an exit ) Rewards can be 8% that is a 1:2 RR ratio ( 1850 levels ) - As target number 1 Reward numbers 2 and 3 can be our fib extension levels on a weekly basis and trendline that would be booking profits around 2200 to 2300 levels Have a nice trading day Respect the STOPLOSS and accept what the market gives you Don't hesitate to book your losers and let the winners run until you get a better Risk to reward bet Thank you and your generous comment will only make this post beautiful :)
NSE:INDIGOLong
by Averoy_Apoorv_Analysis
12
SAGCEM - Ascending Triangle BreakoutThe 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 (arrived through fibonnaci retracement tool). Stop loss should be maintained at 1090 levels. Besides the chart pattern and supporting news, the technicals are also placed in a positive territory: RSI - 66.4 (Bullish but not overbought) ADX - 41.1 (Suggesting strong Trend) P.S: This idea is for educational purposes only and should not be construed as an investment advice.
NSE:SAGCEMLong
by Yes2Profits
1
MOREPENLAB: Ascending Triangle and Cup and Handle Patterns BOMorepen is brilliantly placed in charts with 2 Bullish patterns emerging, indicating an upswing. In my opinion, the stock can easily add 10% from the current levels in a very short span of time. Can be bought at current levels, keeping a stop loss at 67. Supporting Technicals: RSI: 64.3 (bullish but not overbought) ADX: 28.3 (indicating strong trend) MACD is above its center and signal Line, this is a bullish indicator. P.S: This idea is for educational purposes only and should not be construed as an investment advice.
NSE:MOREPENLABLong
by Yes2Profits
1
TATA MOTORS: Ascending Triangle Bullish BreakoutAscending Triangle Pattern formed in TATA MOTORS. You can clearly see a Rising Lower trendline which is acting as a support line. Stock is taking its support on the line and has avoided any downside movement. Upper trendline is flat acting as resistance line. Positive Points: 1) Ascending triangle pattern which is commonly known for bullish sign. 2) CMP is Near its 52W High of 360 3) RSI is ~60 which shows bullish indication 4) ADX > 25, indicating string trend. Entry: After breakout. Aggressive buyers can take entry after breakout ( Volume is important for breakout) Defensive buyers can wait for a pull back for confirmations Target :400 Duration : short to mid term position
NSE:TATAMOTORSLong
by Yes2Profits
Ascending Triangle BreakoutOBEROIRLTY: Swing trade Ascending Triangle Breakout In Ascending triangle pattern the upper trendline is flat, while the lower line is rising. This pattern indicates that buyers are more aggressive than sellers. It is considered a bullish pattern and is usually resolved with a breakout to the upside. The pattern is completed on a decisive close above the upper line. This breakout should see a sharp increase in volume . The upper resistance line should act as support on subsequent dips after the breakout. Ascending Triangle Measuring Technique For the ascending triangle, traders can measure the distance from the start of the pattern, at the lowest point of the rising trendline to the flat support line. That same distance can be transposed, later on starting from the breakout point and ending at the potential take profit level. The illustration above shows the distance from A to B can be transferred higher up, from C to D, in order to project a possible take profit level. How to trade Ascending Triangle Pattern After viewing a strong break above resistance, traders can enter a long position, setting a stop at the recent swing low and take profit target in line with the measuring technique. Note- False breakouts are possible (traders need to manage risk accordingly ) My advice is to risk only 2% of your trading capital. Buy 30% of your position at CMP & if price respect levels of 676 then execute your 70% position. The whole idea is to lose less money when you are wrong and to win more money when you are right.
NSE:OBEROIRLTYEducation
by Indrajit08
1