Eicher motors is taking support at very crucial point and if it goes down from here a breakdown can be expected with the levels mentioned, 2407, 2261, 2014.
P.S : Ignore that head and shoulder, its effect has already be done.
A decently medium term upward trendline originating from November 2020 has recently been broken by TCS. In fact, it seems to have started respecting recently formed downward trendline. After the recent pullback to the trendline and the averages, it is seeing the beginning of another bearish leg...
Cochin Shipyard is clearly forming a parallel channel pattern as you can see in the chart. Stock is now very much near its support line and can bounce back at any moment.
Note :- If stock gives breakdown of support line , don't make a long call here. If a proper reversal candlestick pattern like morning star, doji , bullish engulfing etc is seen near the support...
If you ask me, it looks bearish as it broke resistance and failed retest, then retested new resistance and now validated it and remains below 7330.
Earnings are also in and the emotion is bearish.
All levels in the chart.
High OI at 7000. Once that is broken, we could see price drop fast.
MFI pointing down.
I would target 6850, and trail below.
#hdfcbank heading south. it slid from the year long trendline channel post q1 results and then
M pattern neckline broke off earlier to set loose the slide and now lost the Fibonacci 50 retracement level 61%
also along with a below 40 rsi bearish momentum. Twice of double bottom could take the FII darling till 1360?
In this Birla Corp. stock we have witnessed multiple breakouts in bullish trend for almost now a year.
This trend line is now a major support.
These are the multiple points where an investor or trader can take entry
and can efficiently plan a strategy and do money management.
And price action makes analysis simple and easy to understand and is least...
STILL STUCK IN THE RANGE. NEED TO WAIT FOR THE EITHER SIDE OF THE BREAK. If it gives the breakout on the upper side on daily candle with volume then we will see upside movement and same for breakdown on the lower side.
In positional trade, there will be easy 5% that one can get from this trade. Keep this on Radar.
But only take the trade once...
Nifty View: A disappointing close from the benchmark Nifty index in today’s session - down 85 points to post a close at 15,734. This fall reverses the short term trend of the index DOWN and back to the support zone close to 15,650 which has so far worked well to hold up most sell-offs. Now, will it be able to hold up the index this time? My guess is as good as...
#BANKNIFTY FUT (D):- CMP 34670, if BNF sustain above 34500/34555 then we can see a good short covering in BNF FUT in 2nd half :)
Otherwise breakdown happened, & more fall further continue...
#Disclaimer:-I just shared view for only educational purpose.
SAIL : As you all can see that SAIL is forming pennant pattern from around 07 may 2021 , it took around 70 days to make this pattern. Now pattern is almost about to give a breakout / breakdown.
If it gives breakout , it will also break the 50 simple moving average (green line in the chart ) , Which is a strong bullish sign. Pole height is around 60% this implies...
Watch ACC for an trade oppurtunity.
Wait for bounce or breakdown, check the volume for confirmation.
Retrace would be a good entry.
Disclaimer : Sharing my ideas only for knowledge, please don't interpret as buy/sell/hold call. Do your analysis before any action !!
The stock has formed a ascending channel and breakdown from the channel expecting down side and also formation of head and shoulder pattern
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