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Bearish Patterns

ASIANPAINT IN BEARS BRUSH ???!!!Chart does insist me the above titled opinion Reasons In Monthly timeframe, Asian paints looks like, is in formation of a DOUBLE TOP!!! ( Making HIGH(Jan 2022)and LOWER HIGH(Sep 2022) respectively) (shown as image attached in the chart) 1. Asian paints has been travelling in Ascending channel pattern(red and green) taking support at respective levels from 2019. 2. Now currently its is in the down swing in a descending channel(white trendlines). 3. January 2023 Monthly candle - going to be the decider for further move.(if it closes below 2900- we can confirm the bearishness further) 4. In daily time frame, it has formed a Head & Shoulders pattern and given BREAKDOWN!!! 5. By H&S pattern, Target gets to about 200 points(to 2850 level). 6. Green line down near 2900 is acting as support from 2020. 7. DOUBLE TOP (Monthly timeframe) will mostly likely be confirmed if the Green line gets broken. 8. Let's wait and watch whether the monthly candle breaks the green line or not!!! Asian paints is one of the stocks which has not reached the 52 week high (during recent rally of market)!!! Take SL as day candle closing out of the white channel.(3090) & Keep Trailing the SL!! 1st Target - 2900, will update once it reaches this target. If the Double top works as it does, Asian paints can see 2250 level soon. Even if we don't trade now, It is better if we don't make any long term investment on Asian paints as of now.(as it is bearish) Let's wait and watch how it moves!!! What this is going to teach us!!! Note : Just sharing my view.....Not a Tip nor Advice!!!
NSE:ASIANPAINTShort
by mmjimm
11
⚠️ this is my personal TA ⚠️As we can see head & shoulder patter formation on weekly chart as we r in down trend it is possible BTC reach unexpected lows so be careful trade according to Ur TA 🙏 i am sharing it as per my knowledge i hope it may help someone and if someone interested to share there ta with me they can because I believe in sharing knowledge Yours Lovingly SAK Warning ⚠️ Caution i am not whale or Bear of the market this is my personal TA don't follow me at all
BITSTAMP:BTCUSD
by vamshikumar291
1
Nifty: Is Nifty in a downtrend for 8-13 monthsNifty If we look at the overall chart structure, prima facie it looks like Nifty has started a downtrend from Dec 2022. Currently, Nifty is trading below 21 day EMA, 63 day EMA and now also below 252 day EMA If Nifty weekly closing is below 17430, then it may signify that Bears are in control of the market as of now. Above 17430 Nifty too Nifty may face another stiff resistance around 17604-17620 odd levels and final resistance looks likely to be around 17800 odd levels. So Bulls have an uphill task. Below 17280 may potentially open doors for further downslide towards 16900 odd levels in the short term. The structure can take Nifty down to around 16000 odd levels by September 2023. Important levels on the upside in the short term 17430-17450 / 17604-17620 / 17800 odd levels Important levels on the downside in the short term 17331 / 17280 / 17080 / 16900 odd levels Focus on Risk Management and Plan your trade accordingly...!!! Take care and trade safely...!!! Take care & trade safely...!!!
NSE:NIFTYShort
by indiamarketoutlook
1
DRREDDY INTO BEARS WARD ???!!!!Chart pattern depicts the situation clearly REASONS 1. DRREDDY has been trading in an Ascending channel respecting the levels perfectly . 2. In Monthly timeframe, DRREDDY has given a Breakdown out of the 5 Year old trendline Support (White coloured) 3. Now, it is going through a Downswing(Descending Channel) inside the Ascending channel 4. Right now in Daily timeframe, it is Consolidating tightly in form of a Rounding Top . 5. Target & SL levels mentioned @ chart. Safer SL - Day close above 4500 Let's wait and watch how it moves!!!! Note - Just Sharing my view....not a tip nor advice!!!
NSE:DRREDDYShort
by mmjimm
NUCLEUS SOFTWARE REVERSAL PATTTERN FORMED - SHORT POSITION Due To Weak Quaterly Results It Was Underperforming And Trading Low On The Curve From 750 To 350 Since Last 9 Months. But Dec 2022 Results Were Superb Compatative To All Previous Quarters Of Last Year Hence It Rallied Almost 75% In A Week. As Showed In The Chart There Was A Bearish Gap Level Oh 13th August 2023 At 621 - 638 Price, Where We Can Assusme That There Are Maximum Unfilled Orders That Are Placed For Profit Booking. On 24feb,2023 Nucleus Soft Touched That Level And Made Gravestone Doji On Daily Time Frame Basis That Too Formed On Upper Bollinger Band Along With The Rsi Divergence In 2 Hours Time Frame. It Should Correct Till Mean In Daily Tf Bollinger Band I.E 485 Odd Levels And Also There Lies A Demand Zone . Hence Trade Setup Goes Like Crossing Low Of Doji Stoploss - 648 Entry - 624 Tgt - T1 : 576 ( 2:1) T2 - 485. But Trail The Sl After T1 Achieved. Size - According To Risk Of Your Capital.
NSE:NUCLEUSShort
by maharshisavalia
2
Don't miss out on RelianceNSE:RELIANCE I believe there is a very high chance that Reliance will break this trendline this time. Reliance has been following this trend line Since JAN 2021 and till then it has been tested 2 times April 2021 Sep 2022 and this is the third time Jan 2023 Demand on trendline has been reduced significantly. So the Break of the trendline can happen and bears Can take full control. and and the price is trading below POC too. It's just for educational purpose, and not intended to trade until the Breakdown happens.
NSE:RELIANCEShort
by Gagan_Ahuja_13
JUBLFOOD Next Down Move started ????Chart looks Prudent for yet another down move !!! This is in continuation of the idea posted about jublfood few days back...Refer to it... I have attached below the link to it.(under related ideas) Target and SL levels (dashed lines) mentioned in chart. Be cautious if it breaks above the resistance line(thin red trend line) of the descending channel down side. Let's wait and watch!!! Note - just sharing my view....not a tip nor advice!!!
NSE:JUBLFOODShort
by mmjimm
10
RELIANCE: Head and Shoulders BreakoutTHEORY: This pattern forms after an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder. The left shoulder is formed after a big bull rally in which the volumes are quite large. At the end of the left shoulder, a minor correction takes place on the downside which happens on the low volumes comparatively the starting of the left shoulder. After this, again an up move can be seen on large volumes forming a head whose top is above the left shoulder following a correction on lower volumes & completing the head. The completion of the head must be below the top of the left shoulder. If the prices fall down below the low of the left shoulder then too this pattern remains intact. In the end, the right shoulder is formed usually on smaller volumes comparatively the previous two rallies. Now if you connect the bottoms of the left shoulder, head & the right shoulder there will be a formation of the ‘Neckline‘. This line will act as a decision line. If the prices break this neckline & give closing below the line, this will be the confirmation of the breakdown of the H&S pattern. However, it has been noticed that after breaking of the neckline the prices again attracted towards this neckline. We say this phenomenon as a retest of the neckline which will add some more confidence while trading this pattern. After retesting if the prices again come down this will be the final confirmation of the downside movement of the price as shown below. The bookish target of this pattern is taken as the vertical price range from the top of the head to the neckline & the bookish Stop loss should be the top of the right shoulder. However this stop loss can be big, so it is advised to keep a stop loss of 4-5% of the price range above the neckline. May 29 TRADING STRATEGY: GO SHORT WITH SL OF 2590 & LOOK FOR THE TARGET OF 2460/1365 IN THE COMING WEEKS. NOTE: IF THE STOCK BREAKS THE RESISTANCE OF 2632 THEN IT WILL BE A H&S FAILURE PATTERN, WHICH WILL CALL A BULLISH ALTERNATE SCENARIO.
NSE:RELIANCEShort
by TradingSutra
18