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DMART | TriangleDMART looks set for a recovery. We could observe a confirmed bullish Ascending triangle pattern. Target of the pattern comes in at 1480. However, the price was rejected by the trendline resistance at around 1420. Going forward, if the trendline is breached expect the stock to raise towards the pattern target. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:DMART
by AkhilSuryaFS
Week Ahead: With Breakout Not Getting Confirmed, Chasing TechnicThroughout the previous week, the Indian equity markets remained less volatile than expected, but at the same time, it marked some important technical events. After trading in a 350-point range, the index resisted to its key resistance zones, retraced and ended the week with a modest loss. The RBI Credit Policy largely remained a non-event for the markets. The headline index NIFTY 50 ended with a net loss of 52.15 points (-0.44%) on a weekly note. The previous week also witnessed a few important technical events. The NIFTY marked its fresh incremental high, but it failed to confirm this attempted breakout. The markets have reinforced the 12000-12040 zone as an intermediate top and key resistance area for the markets. The India Volatility Index – VIX also declined another 7.53% to 14.86. Also, the index resisted to the pattern resistance created by the lower trend line of the 30-month long upward rising channel that the NIFTY broke on the downside in October 2018. The nature of this trend line is rising and therefore, although the NIFTY marked incremental highs, it resisted to this trend line for the third week in a row. As we head into another week, we need to take serious note that the markets are likely to face broader technical headwinds. The present technical structure on the charts does not show any possibility of a fresh, sustainable runaway up moves. There may be some intermittent technical pullbacks, but a major up move which is lasting and sustainable is unlikely. The coming week is likely to see the levels of 12000 and 12080 acting as stiff resistance points. Supports, on the other hand, shall come in at 11750 and 11600. The weekly RSI is 63.78; it remains neutral and shows no divergence against the price. However, upon visual inspection, the RSI shows forming lower tops, which may act in a bearish way going ahead. The weekly MACD continues to remain bullish and trades above its signal line. No significant formations were observed on the candles. The pattern analysis shows that the NIFTY continued to resist to the lower trend line of the upward rising channel for the third week in a row. The index has also failed to confirm an attempted breakout, and the zone of 12000-12040 remains key resistance area for the markets. We are likely to see some intermittent pullbacks in the coming week. However, such pullbacks may remain temporary, and the markets may continue to see selling pressures from higher levels. With the breakout not getting confirmed, we may see some bearish bias to prevail in the markets. Any technical pullback, if there are any, should be utilized to protect profits at higher levels. While choosing not to chase the technical pullbacks, if any, a highly cautious view should be maintained for the coming week.
NSE:NIFTY
by Foram_C
BEML - Harmonics - Bullish Bat with a fractured wingBEML has just bounced off the base line support of the Bullish bat that is shown on the pic, on the monthly charts with targets of 2000 in the next few candles. The right wing is fractured though, that's why it is off on the calculations for the validity of the pattern. this is not taken into account, considering the selling mentality associated with the bear markets of 2018. . . . . . . . . . . Kindly consult your financial advisor before taking any trades.
NSE:BEMLLong
by SchoolofMarkets
Reliance (RIL) - A long term view - Chart PatternIntro : The bump and run is a pattern that is of explosive power in developing markets aiming at maturity. Reliance has just bumped onto and looks to start its run. For those unfamiliar with this lesser known pattern, this looks like a inverted cup, preferrably on an ascending trendline support angled between 30-40 deg. This has been observed in cases of several multibaggers, be it MRF, Avanti feeds,etc.. The power of compression and the extended bull run at a steady 45 degree trendline support makes this a wonderful catch. Reliance looks to complete the short term Double bottom that it is doing, finding its resistance at the outline of the bump and then, retest the support line in the month of May 2019 ( The intersection of the lines - Text box says the same) We have a wonderful rally ahead of us, for the next 3 years, propelling RIL to new heights. . . . . . . . . . . . . . . . . . . . Consult your advisor before taking any position
NSE:RELIANCE
by SchoolofMarkets
9.5 Year low of a secular bull market? This post is for my future reference only. The previous two secular bull markets made a 9.5 year low before continuing their secular bull markets. Currently this year with the consolidation we have seen, price could be setting up to make a low this November/December where after the low is in place, the current secular bull market would resume to make new highs. Second, everyone is a bear or bearish. All we hear is how long this bull market has lasted. However, we did have a bear market in 2015. Even though price did not correct 20%, the Dow, SPX and NDX corrected with time and burned off their bullishness. On Google Trends this past February, "stock market crash" made the highest search rating since 2004. Google Trends showed how quick everyone becomes a bear. This is a hated secular bull market. I could be wrong 100% with my thinking, but if we witness a sudden drop in prices similar to February of this year. Where price holds the Feb/April lows as support, I believe price would go on to new highs. Lets say price breaks the Feb/April lows in a shock and awe plunge. With everyone jumping on the bear market band wagon, with hardly any bulls left, I believe it would offer at least a break even long on a reactionary bounce, if this time is truly different. Time will only tell. Best to everyone at Tradingview!
DJ:DJI
by elp
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