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Ascending Triangle

HINDALCOHINDALCO:- Ascending triangle pattern is formed, if breakout together sustains then we can see upside movement Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:HINDALCOLong
by AjayDhakad_Keep_it_simple
2
Is IRCTC ready to burst ?Hello, guys. I hope you are doing well. Today, we will take a deep dive into IRCTC. Please read until the end to gain a complete understanding of this stock and its potentiality. The chart is self-explanatory, so we will keep the technical analysis brief. The stock had been consolidating in a descending triangle pattern for the past two years. After a really big move It has corrected by 50%. Recently, it broke out of this pattern and has started forming a new ascending triangle pattern, indicating a potential upcoming breakout. Fundamental:- In terms of fundamentals, it's needless to say that it is a government owned company, authorized exclusively by the Indian government to provide online railway tickets, catering services, and packaged drinking water at railway stations and on trains in India. Revenue Breakout As per 2022 data:- Internet Ticketing: Approximately 54% Catering: Approximately 27% Railneer (Packaged Drinking Water): Approximately 9% Tourism: Approximately 8% State Teerth: Approximately 2% Future Planes:- >>Company plans to enter the budget hotel service industry. >>Company intends to establish an e-marketplace offering services such as bill payment, recharges, and other third-party services, including online insurance purchases. >>The company has plans to explore segments such as Helicopter Travel and medical tourism. >>The company also plans to expand its non-rail based tourism offerings, including corporate travel business, cruise packages, river packages, and air ticket services. Financials:- >>The company is almost debt-free. >>It's anticipated that the company will perform well in the upcoming quarter. >>Over the last 5 years, the company has consistently achieved a strong profit growth of 34.9% annually. >>The company has a solid track record of return on equity (ROE) with a 3-year ROE of 34.6%. >>The company has consistently maintained a healthy dividend payout of 43.0%. >>FII, DII holdings are still increasing. Key Risks:- I have mentioned all the positive aspects of the company, but there are some key risks associated with the company that you should be aware of: 1.The company is government-owned, which means it can be highly sensitive to both positive and negative news. Any adverse news can lead to a significant decline in its stock price. 2.This stock also experienced price manipulation in 2021. 3. If any pandemic situation comes it can experience a substantial correction. My commentary:- We have recently observed that railway-based companies have started to gain momentum. Now, the question is, will IRCTC follow the same? My answer would be that it's possible because if the price breaks the recent pattern with strong volume, then it can potentially make a significant move. Do consider pressing the boost button🚀🚀, It helps me bring more interesting analysis. And if you've any question and suggestion please feel free to post in comment section. Note: This is for informational purposes only. Do your own research before investing.
NSE:IRCTC
by BullishLine
4
Ascending Triangle and it's meaning - understand using HALHow to identify an Ascending Triangle on chart and what does it mean? Let’s understand this with current chart of NSE:HAL (dated 21-Aug-2023). • Ascending Triangle is a bullish formation that generally gets formed during the uptrend and confirms the continuation of uptrend. • Ascending Triangle pattern indicates the accumulation and gives bullish buy indication before breakout. • NSE:HAL during its uptrend journey created break out from its uptrend channel on 7-Jun-2023. • However, post that it has gone sideways and started forming an Ascending Triangle. • Ascending triangle is created when price consolidates in the uptrend direction for some time by facing resistance at same level on the upper side of the triangle. Whereas the bottoms keep increasing. • Volume starts getting decreasing from the starting point of the triangle. • At one point, we will get Break Out from triangle with huge volume and uptrend will continue.
NSE:HALEducation
by vicky252
All about Apollo Hospitals.Hey there I am back with another Stock analysis. This time we will discuss in short about Apollo Hospitals. Here are some pointers about this stock. Key pointers. >>The stock, Apollo Hospitals, was in a consolidation phase within an ascending triangle pattern for about 20 months. >>It recently broke out from this ascending triangle pattern. >>After the breakout, the stock formed a parallel channel pattern followed by a HIdden trend line but then experienced a breakdown. >>The stock has retraced back to the breakout area and is currently accumulating. >>As visible from chart there is a long hidden trend line, where price has retested multiple times. >>Factors such as sales and profit data might have influenced the stock's fall. >>The current zone is being viewed as a potential accumulation area. >>The RSI indicator suggests that the stock is not overbought at all. Key takeaways. >>Lot of people make mistake by taking entry just after trend line breakout but they forget to find a hidden trendline. >>An engulfing pattern can indicate as a potential entry trigger if the market shows bullish movement. >> we will place stop-loss right under the tringle pattern and put target till long trend line. Do consider pressing the boost button🚀🚀, It helps me bring more interesting analysis. And if you've any question and suggestion please feel free to post in comment section. Note: This is for informational purposes only. Do your own research before investing.
NSE:APOLLOHOSPLong
by BullishLine
1