DAILY CHART ANALYSIS OF NSE:MONTECARLO
The Diamond Bottom pattern, also known as the Diamond Reversal pattern , is a technical chart pattern frequently used in technical analysis to identify potential trend reversals in financial markets, such as stocks, forex, and commodities. It is a rare pattern and is considered a reversal pattern, indicating a potential...
The price shows a downtrend with a series of 6 red HA candles. But the body of the 6th candle fits in the previous one. Which indicates a cool off or a consolidation.
Consolidation range : 19500 to 19560
All major moving averages are negative (-ve)
The breakout of 19560 extends the upper range to 19600//19625
The breakdown of 19500 extends the downside range to...
Chart type - Heikin Ashi
Time frame - Swing Daily Chart
All time High - 525.90
LTP - 435.10
Note: 20% down from all time high
Breakout of the resistance level of 431 (Recent high of May)
Wait and watch the behavior of price around these levels.
The support zone 425 to 430.
Thanks
Simranjit Singh Virdi
As market did't showed any bearish pressure and a slow down movement & market did't trapped any buyers today after opening
So, as there are less sellers the market will grab sellers lquidity to go up
So, theres no lquidity for the market to go down
So 44000 area will act as a major support for buyers and also a trap zone for the buyers wait for price to close...
Hello Traders,
Chart Type - Heikin Ashi
Time Frame - Daily Swing Chart
The price has successfully tested its retracement level of 61.80% and the price holds these levels.
Swing High - 387.15 (August 2023)
Breakout Level - 347.95
First trade zone - 347.95 to 357.25
Second trade zone - 357.25 to 373.30
Breakdown Level - 338.65
Trade Zone - 338.65 to 308.60
Nifty is at make or break point
19462 Breaks & sustains - it can go to 19200
19654 Taken out & sustains - it can head towards 19850-950
For more info - Plz visit my profile
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Regards,
Naresh G
SEBI Reg. RA
Following a significant market downtrend, the current situation indicates a phase of accumulation. We anticipate a consolidation period before a potential upward movement, provided that the support level mentioned in my earlier post remains unbroken. This analysis is supported by the observation that seller volume is not showing signs of significant increase.
-It is engaged in the business of manufacture and marketing of pharmaceutical products.
-Market Cap₹ 11,569 Cr.
ROCE16.7 %
InstHold24.5 %
-Consolidation Base Breakout.
-Rising Relative Strength.
-Breakout with 23% Relative volume.
- It is the pioneer and the largest exporters of polyester films .
-It is the sole manufacture of Solar Control window films in India .
-only Company in the world with backward integration for manufacturing of its own raw material and all components for manufacture of Solar control window films.
-It is a market leader with more than 90% market share in Shrink...
