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Broadening-formation

Potential Long Sector Turnaround - Nifty FMCG Nifty FMCG has given a healthy correction of ~16% and is trading at a crucial make or break level. Its following a broadening channel pattern and has reached the bottom level of the megaphone channel, which gives a favorable risk/reward ratio to initiate a position. It has formed a head & shoulder pattern also, but its trading near the base of a major support level so the probability of this pattern turn around is low, this can potential lead to a trap which might be a favorable condition to initiate a long position, but as its a assumption position to be initiated with a strict SL if H&S pattern gets activated. Long Position can be initiated in FMCG ETF once we gets a positive close or early entry can be initiated maintaining a strict SL. Note: This is just for analysis purpose, please do your own research before punching any orders. 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView
NSE:CNXFMCGLong
by DebasisT
2
Mentorship InstaView 26 July’21: Tough Times make Smart Traders 
Nifty View: The Benchmark Nifty index has been particularly erratic over the past few weeks as it failed twice to see follow-through movement post a breakout. The daily chart of the index will reflect a “Broadening Triangle” which implies the existence of a higher high and a lower low - a classic sign of confusion. The underlying short term trend of the index is now non-directional. However, one can expect some momentum if the index breaks above 15,860 or a break below 15,782. Not the best of times to trade aggressively as the sharp volatility will lead to whipsaws. Better to focus on risk management and go for those trades wherein the conviction is maximum. Thank you for following my work and please feel free to share your thoughts and suggestions.         Trade Well. Trade Wise. 
NSE:NIFTY1!
by Abhijit_Paul
INDUSIND BANK - Broadening pattern | Target - 1300 🔰 MY thought process : ⭐A broadening pattern on the Daily chart :) meeting with fibo extension giving a perfect round number of 1300 which seems to be achievable but in a while, kinda positional setup for me :) 🔰Am I taking this trade now: No---Reason: Already in the trades of Naukri and PPL as posted last time :) also took a small position in Coal India today as posted guys :) Also keeping an eye on JSW steel too seems bullish to me :), All the analysis already posted :) 🔰 {Some info} ➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all. ➼I hope you will love my simple analysis style. ➼Feel free to suggest your view on this as learning is earning here :) ➼I take my trades on my Zerodha account :) ➼These charts are my and only my work, my thought process, just from an educational point of view and no calls. <<<<<>>>>>
NSE:INDUSINDBKLong
by Averoy_Apoorv_Analysis