It is been observed on the hourly chart that the price action breaking above an Ascending Triangle formation, indicating a bullish signal ahead. It has broken the previous resistance levels of 1830-1840 which also indicates and confirms a bullish signal ahead. The target is been measured as per the triangle formation guidelines which also confluence with the...
Ascending triangle formation in TCS on 30mins chart.
When the price break the top line of the Ascending triangle, the trend will be bullish but here need to focus o EMA 50.
EMA 50 lying above the price. so EMA will act as a Resistance so keep on eye. Once EMA 50 also broken then it will be hit the target.
Buy above - 2163
Target 1 - 2184
Target 2 -...
It is been observed that the price action is trending up and breaks out from the ascending triangle on weekly chart. Now, the target is measured move of the pole. It shall further go up.
It is been observed that the price action breaks out from a ascending triangle on daily chart, indicating further bullishness. Now, it shall reach out to the next resistance levels as marked by triangle pattern rules.
On weekly chart, it is observed that the reliance is breaking out from a ascending triangle indicating trend continuation and strength in price action. Now it shall reach to 1140-1150 levels before it retaces back.
SBI in 15min charts is ranging for few days same as its big brothers Nifty and BankNifty. Atleast SBI was kind enough to show us the triangle pattern and gives us setup for Breakout. Now, if you throw a stone in Markets, it will be forming breakout patterns only, except few. That much ranging going on. All just for Fed meet on Sep 20-21, as usual this meet will...
On weekly chart, I observed that the price action is forming a descending triangle, which is a continuation pattern. It is a good time to put this one in our watch list and wait for couple of weeks to see a breakout from this with a high volume.
On Hourly Chart of Nifty, I have observed a formation of Ascending Triangle, where we have two almost equal horizontal highs points and Three Higher Lows with Doji formation at the touch of trendline.
This pattern is bullish pattern and indicates accumulation.
Look forward to a breakout with strong candlestick on either side.
Cipla is consolidating for longer-time in hourly timeframe also, so I expect the breakout to be wild one atleast on 15mins, lets see what happens.
Happy Trading ! Happy Monday - Only we traders have guts to say Happy Monday :)