Classic breakout failure of triangle patternBank nifty hourly time frame.
A good triangle pattern formed but broke down like brittle glass just after giving an hourly close above the breakout level. This is a classic study opportunity to understand how breakouts fail. Even a positive close doesn't mean anything unless price action supports it.
PS: One can always go short from the low of hourly candle with a very tight SL as major trend is up.
Breakdown
RELIANCE to Dip via Inverted Cup & Handle ??!!Chart patterns look good for a short trade in Reliance industries
REASONS
1. RELIANCE has been trading inside an Ascending Channel and currently it is down under its Downswing move inside the channel
2. There is a Monthly breakdown (shown in chart) out of a 5 year old trendline support
Monthly timeframe chart below -
3. In weekly chart shown below, we can clearly witness lower high and lower low formed recently confirming Bearishness!!
4. In daily timeframe , it is trading in the form of an Inverted Cup & Handle and its due for Breakdown!!
5. Target levels mentioned as Horizontal dashed green lines
6. SL can be day candle closing out of the purple slanting trendline
7. Safe Entry can be after 2hr Breakdown out of the Inverted cup & handle pattern.
Let's wait & watch, how it moves!!!
NOTE - Just Sharing my View....not a tip nor advice!!!!
Ashokley Numerous Bearish signs!!!!Chart Patterns look good for a short trade
REASONS
1. In Weekly timeframe, Ashokleyland broke out of the Ascending channel on sep 2022 & Right now it formed a Bearish Pennant pattern and Gave breakdown for that too!!!(SHOWN BELOW)
2. In daily time frame, it is moving alike Inverted cup& Handle pattern(shown below)
3. In 2hr timeframe, it is trading inside a DESCENDING CHANNEL and also there is Bearish pole pennant pattern seen.
4. There is an UNFILLED GAP ZONE (127- 125 RANGE)(Gaps often gets filled)
5. Target(dashed bright green lines) & Sl(dashed red line ) levels mentioned @ chart
6. Gap zone(green rectangle ) can acts as good support!!
Just be fixed with the SL level.
Let's wait and watch how it moves!!!
NOTE - Just sharing my view....not a tip nor advice!!!!
MCDOWELL_N Analysis- in verge of notable Down move ??!!!Chart patterns look prudent for the above titled opinion
REASONS
1. MCDOWELL_N has been trading inside a Ascending channel pattern (taking support and resistance at perfect channel levels)( shown below Monthly chart for broad view)
2. Monthly Breakdown by witnessing the January month candle(with volume bump) with low too tested the next month
3. Inside the Ascending channel pattern, it is undergoing the downswing move in the form of descending expanding channel pattern (shown by white trendlines)
4. High and Lower high too formed ....but we need lower low in the weekly chart to confirm the upcoming strong bearish move (shown below in weekly chart )
5. There is also a BEARISH PENNANT (shown in the above weekly chart itself) yet to breakdown!!!
6. SL level mentioned @ chart
7. Better to enter after breakdown...if entering now, take 736 as target
8. It needs to break the 730 level for the fat bearish move !!!
9. Will update target levels once it gives breakdown!!!
Let's wait and watch how it moves!!!
Note- Just sharing my view...not a tip nor advice!!!
Regards,
mmjimm
Nasdaq 100- Rising Wedge BREAKDOWN!Attached: Nasdaq 100 CFD Daily Live Chart as of 25th April 2023
Was waiting for a quite a while for this to play out and it finally has today in the Nasdaq
Price formed a Distribution Pattern and today we are finally getting the Breakdown
MACD also in Sell Mode
13k Level is Lost and below 12800 it is a Confirmed Breakdown. This has BEARISH Implications, a Top in Place to say!
Breakdown in LTI Mindtree Ltd...Chart is self explanatory. Levels of breakdown, possible down-moves (where stock may find support) and resistances (close above which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Breakdown in Indian Energy Exchange Ltd...Chart is self explanatory. Levels of breakdown, possible down-moves (where stock may find support) and resistances (close above which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Breakdown in Bandhan Bank Ltd...Chart is self explanatory. Levels of breakdown, possible down-moves (where stock may find support) and resistances (close above which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Breakdown in Tata Power Company Limited...Chart is self explanatory. Levels of breakdown, possible down-moves (where stock may find support) and resistances (close above which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
OBEROIRLTY Soon to see a DOWN MOVE ???!!!Chart pattern insist me to go with the opinion titled above
Reasons
1. Oberoi realty has been respecting the channel pattern.
2. Now, it has given BREAKDOWN on Weekly timeframe out of 2.5 year old Trendline support!! (Channel too breached)
3. Volume too seen supportive for the down move.
4. Day candle closing out of the blue trendline will make our exit (STOPLOSS)
5. Target and SL mentioned in the chart.
12% down move awaits as per levels...Let's wait and watch how it moves!!!!
NOTE : Just sharing my view....not a tip nor advice!!!!
TATA MOTORS Weekly ChartAccording to the weekly chart analysis, TATAMOTORS has been experiencing a prolonged downtrend. However, there is a possibility of a significant upward movement if the stock breaks out of this downward trend.
TATAMOTORS is the largest player in the electric vehicle market in India, making it an attractive investment opportunity. As a result, we are monitoring the stock closely and waiting for a breakout of the downtrend to take advantage of the potential profits that could be made.
SBILIFE Double top Breakdown ??!!!Chart pattern look interesting for a short trade
Reasons
1. SBILIFE travelling in a Descending channel pattern ( hourly time frame)
2. Now, it has formed a DOUBLETOP pattern (with a perfect High & Lower High as the two tops )
3. Lower low too formed on Friday, increasing our probability and thus Breakdown!!!
4. SL & Target levels mentioned @ chart as horizontal dashed lines(red & green)
5. 2 hr candle escaping out of the channel(yellow) can be less risky SL.
6. On 15th Feb(wed), Sbilife formed a Superb Bullish Engulfing day candle, but couldnot sustain. ... showing the BEARS STRENGTH!!!!
7. 1113(1st target) level small gap remains unfilled!!!
Let's wait and watch how it moves!!!!
NOTE- Just sharing my view......not a tip nor advice!!!!
MAHINDRA & MAHINDRA Support BreakdownM&M has given strong breakdown below the crucial support zone. We can take a swing trade here.
Entry:
We can go long on open of next candle.
Stoploss:
We can keep stoploss above the support zone.
Target:
We can keep target near the next support zone as marked on chart.
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