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Ascending Triangle

BPCL, slightly risky but if works will be worth it.BPCL is forming ascending Triangle. It's Interesting to see the rejections at the resistance level marked by red arrows, because those 2 candle show strong reversal with upper wicks and short bodies , following by big down move. The Trend line is acting as a good support since March 2020 fall. It's been tested multiple times, that's why I mentioned slightly risky Reason for going long, bullish engulf candle at supporting trend line. SL will be around previous support at trend line around 370 area. At this entry point risk reward is most favorable being closer to the support. First target will be the resistance zone yellow area. Yellow marked area Being a strong rejection zone, if crossed will trigger a sharp upmove or will be crossed will be crossed with sharp move. Next target is much much higher, that's why most favorable risk reward at current levels. Week on week for 4 weeks now volumes picking up. On daily chart below see, check the stock is in narrow range and at the upper end of it. Check previous Idea on BPCL Link attached
NSE:BPCLLong
by varadtambolkar
6
FILATEX Ascending Triangle BreakoutNSE:FILATEX Levels are Mentioned in the chart... Look for Swing Note: 1. Views are personal. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for educational purpose... After market opens, the condition might change so learn to handle for different conditions.. 4. To learn more about patterns, Psychology behind the trade and price action trading... contact us.. Thanks..
NSE:FILATEXLong
by tradingrhythm1
Nifty InstaView 07 Apr’21: Verge of a BreakoutNifty View: It was a good day for the benchmark Nifty index as it extended its rally further. A look at the 75-minute chart suggests that prices are on the verge of a break out from an ascending triangle. The underlying short-term trend is still very much up and a break above this triangular pattern will set in fresh buying impetus for the index and the overall market. However, we should not forget that in the last two months the short-term trend has been fairly volatile and so we will continue to trade cautiously on either side of the market and stick to short-lived trades only. In terms of levels, a sustained close above (14,900–15,000) level for the index will set in positive sentiment for the overall market.        Thank you for following my work and please feel free to share your thoughts and suggestions.             
 Trade Well. Trade Wise. 
NSE:NIFTY1!
by Abhijit_Paul
Nifty InstaView 06 Apr’21: Unpleasantly VolatileNifty View: Intraday volatility continues as the benchmark Nifty index consolidated yesterday’s sharp sell-off today. The nascent underlying short term UP trend is now vulnerable for a reversal. On the 75min chart we can clearly observe a range bound activity for the Nifty which is taking the shape of an Ascending Triangle. A break below today’s low of 14,616 will trigger fresh weakness for the index. On the upside, the index needs to break and sustain above 14,900 for some positive sentiment and momentum. Till then, stay directionally unbiased and keep your trades as short lived as possible. Thank you for following my work and please feel free to share your thoughts and suggestions.                       
 Trade Well. Trade Wise.
NSE:NIFTY1!
by Abhijit_Paul
POWERMECH Ascending Triangle BONSE:POWERMECH Levels already mentioned.. Good for Swing... Appreciate our work by like, share and following.. Note: 1. Views are personal. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for educational purpose... After market opens, the condition might change so learn to handle for different conditions.. 4. To learn more about patterns, Psychology behind the trade and price action trading... contact us.. Thanks.
NSE:POWERMECHLong
by tradingrhythm1
TEAMLEASE Ascending triangle BreakoutNSE:TEAMLEASE Levels already mentioned.. Good for intraday to Swing... Appreciate our work by like, share and following.. Note: 1. Views are personal. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for educational purpose... After market opens, the condition might change so learn to handle for different conditions.. 4. To learn more about patterns, Psychology behind the trade and price action trading... contact us.. Thanks.
NSE:TEAMLEASELong
by tradingrhythm1