Hello and welcome to this analysis
Among all large private banks, this one has been an underperformer since October 2021.
In the weekly time frame, Indusind Bank is completing the counter-trend leg of an Ichimoku Y wave.
Ichimoku Y Wave formations are formed in triangle/diagonal formations.
For further upside, it needs to start closing above 1100 on daily...
On Daily Timeframe, NIFTY trading in falling broadening wedge pattern. Currently it's trading in downtrend direction and this downside can expected upto near 15000 level or downside support level. At this location investor or short term trader can look for buying side positions on reversal confirmation. For long side investors can wait either bottom support level...
AMBUJACEM since last few months consolidating in Descending broadening Wedge Pattern. After reversal from the support level expected upside target in AMBIJACEM is 415+ in upcoming days.
Thread: Next update in this stock after reversal/ breakout near resistance level or breakdown of a support level.
On a Monthly Timeframe, In this stock gives the breakout of ascending broadening wedge pattern near 1850 level. So it is a wise idea to trade in the breakout direction at the current level. According to this pattern most of the time it gives correction movement after the breakout. So for confirmation entry can wait for the corrective movement to entry.
The target...
Close to the weekly support level. If it doesn't bounce (I doubt it), it will fall to 249~.
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Remember, if the overall market dips, most stocks will also go skinny dipping.
Happy Trading!
In 30 minutes time frame,
INDIGO showing consolidation zone and creating broadening wedge pattern. Currently it's trading near the support level of this pattern. So most chances there have a reversal from this support level. There have 2 possible entry's in this stock as below:
1) Reversal Entry:-
Can take entry near support level with targets upto the resistance...
As we can see CHART PATTERN OF "BROADNING TOPS AND BOTTOM". We can expect some upside From Current Level and may face some selling pressure from upper level.
AS per Option chain data we may see range bound day with range of 17300 to 17450 and we can see closing below 17400.
BANKNIFTY will be leading sector for Nifty as we can see "inverted head and shoulder...
Notes:
BankNifty seems to be forming a descending broadening pattern.
Statistically (Taking Thomas N Bulkowskis book as a reference) an upper breakout is preceded by a partial decline (as in this case) around 87% of the time.
Target in case of a breakout on the upper side would be the top of the pattern which is 35650.
Please note - Not a SEBI...
✺----------------Drop a follow here: @Averoy_Apoorv_Analysis ✺
✺--------------------LOGIC of the trade----------------------------- ✺
✣The Green area is the weekly support zone
✣The blue trendlines depict resistance lines and support lines of a broadening pattern for downwards
✣The yellow lines show a parallel channel in making
✺----------------------- Plan...
Buy on 1hr chart if u want an early entry but a safer bet would be on the D chart with RSI above 62 only for no divergence pattern ......
Happy trading :)
BRITANNIA - Broadening wedge pattern formation at weekly TF
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Disclaimer : All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
Expecting TVC:USOIL to go for a sharp correction.
Harmonics 4-point & 5-point pattern helped identify a Potential Trend Reversal Zone, where bullish movement may end & trend may reverse.
Got a terminal candle confirmation in the PRZ.
Also, in a broader view prices formed a Broadening Wedge Pattern (a-b-c-d-e wave structure) which might possibly be...
Prices were moving in such a way that it has formed "Broadening Bottom" pattern. The pattern is perfect with alternate touches on both sides and it has given breakout today. Pattern trader can use the setup for their trading with price expectation of 575.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
![INDUSTOWER: Indus Towers [Weekly]](https://s3.tradingview.com/b/b4Q2asTi_mid.png "Indus Towers [Weekly]")
