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Breakouts

Tech Mahindra - Breakout Possiblehiii all, Greetings! For almost an year we have seen Tech Mahindra stock running side ways, few days back Tech Mahindra gave a breakout above 1140 levels. Yesterday & Today it has retested its support level. Hopping for strong up move. well the result season for IT stock has begun so keep an eye on results also. Thanking you Important Things 1. This is only for educational purposes only. 2. Never over trade. 3. Always keep Stop Loss. 4. Trade in limited quantity. 5. Taking a small loss is better than wiping up your whole capital. I hope you found this idea helpful. Please like and comment. Share with Your Friends. Keep Learning, Happy & Safe Trading
NSE:TECHMLong
by NikhilChoudhary2023
2
SBIN Likely to hit its All time high(630) AgainSBIN has made breakout of 565 levels and made a close above it. RSI is above 60 levels and banking sector has outperform nifty with help of this stocks. SBIN has its earning release on 30th may. Stock has retested levels of 565 and taken support at that levels which means SBIN is not likely to go below 565 levels. SBIN has next resistance 595 levels where we can see highest OI build up. Due to HDFC bank rating there was shakeout in SBIN also. Let us see whether followup of this shakeout is there or not. One can trade with SL of 573 levels. This post is for educational purpose only. Happy Trading !!!!
BSE:SBINLong
by Darshan_Panchal
SYNGENE INTERNATIONAL : STRENGTH OF 2.5 YRS OF CONSOLIDATIONSyngene International Limited is an India-based contract research company. The Company is engaged in providing services from early discovery and development to commercial manufacturing for small and large molecules and a Market Cap of Rs. 24,500+ Cr. The chart is moving within a limited range since 2020 , for almost 2.5 years. Though the range is high but is limited , from 510 to 680. The stock remained untouched from the relative movements in Pharma Sector as well as market as whole. The stock is now consolidating. When a stock is ready to come out any range, the bottoms get higher and higher as we seen in the chart , the bottoms are getting higher since Jun 2022. We are seeing Symmetrical Triangle Pattern. We see breakout of this pattern last week and since then the stock is consolidating. The next resistance is from 650 to 690, which is stock's life time high. If the stock crosses this level, there is possibility of a new trend , strong trend , with a gained momentum of last 2.5 years. Symmetrical Triangle is completed and is already broken out , pattern is strong , high consolidation of 2.5 Years and 50 EMA Support , all these factors , indicates a break out in of this chart. Entry @ CMP : 609 Targets : 650 , 690 , and if breaks the range (high possibility ) thereafter a new positive trend ... Stop Loss : 605 This analysis is only for education purpose. Please do your own analysis before entering into any trade and trade at your own risk. Best Of Luck !!!
NSE:SYNGENELong
by chakraveer1104
Nifty AnalysisHistory repeats itself and that is also true for the stock market technical analysis . In fact, much of the technical analysis revolves around historical patterns which repeats themselves time and again. We will discuss one such pattern in this analysis. Friday was a big day. Market opened with a gap and trended on the upside. How often has this happened in the background? I have gone not far back but till October 2021. In the last 1.5years I have looked for a few criteria. Market must be trending down that is, forming lower lows and lower highs. Market must break a minor or major swing high with a huge gap. The gap day must be 1.5% or higher in length and close strong (near the high of the day). I have found that these conditions were met only three times. The first was in May 2022. Market broke a minor structure at A with large gap and closed strong. But it could not follow through and just managed to fill a bearish gap on the left. Although there was a potential double bottom in the left, yet it just retested the breakout level and broke down to new lows. The second such event happened in July 2022 at B. Market broke a larger swing high with same conditions as above and rode vertically up to a previous resistance level . It was hell of a ride without any retest (which lately happed in September 2022). This rare pattern has repeated for the third time on last Friday. All the previous conditions were met. Now the question is that, can this event lead to a reversal or it is just another support bounce from September 2022 lows? I would say that the break of a minor structure point does not necessarily means a change in trend. Perhaps it would be too early to announce trend reversal. However, I do not negate some follow through till the gap zone on the left (17500-600) which will be the first area that may offer strong resistance to the market (as it did at A). Market needs to retest in order to check the strength of buyers and break above 18135 levels (which may take some time) to further clarify its desired direction. Thanks for reading. Do like for more such analysis in the future.
NSE:NIFTY
by Bravetotrade
6