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Bullish Patterns

Why TATAPOWER ?Hi everyone! Let us discuss TATAPOWER in this thread. TATAPOWER has given fabulous 750% movement b/w May'20 and Oct'22 and since then it is in consolidation. Below I have mentioned my reason why I think it is a good time to consider this stock. 1. Price Action : :- Stock is testing its 2 year long trendline(pl. refer chart). :- In weekly chart last four candles have formed higher lows, which if formed near support generally signals strength. :- Triangle pattern breakout in Daily chart. 2. RSI : Monthly RSI is near 60 at same time weekly RSI is testing 40 whenever price is moving near trendline. 3. Good Risk to Reward : Since stock is near its trendline so the SL will be only 6-7% which means we can expect a RR of 8 to 10. After all these positive points there is also one point which will be of slight hindrance and it is that, Stock is trading below its 200 moving average(in daily), and once it crosses past that we can expect some good momentum in this stock. Do you agree with all this? Pl mention if you have any point in addition or against above points. THANKS!
NSE:TATAPOWERLong
by sudhanshu_raaz
3
Update on the WTICOUSD(Crude Oil) WTICOSUD(Crude Oil) is showing some interesting movement on major levels. Major upper and lower levels could be breached in the future. Crude Oil is showing a strong upward movement in the 1Hour chart breaching the level of $87.894. It seems that the counter is consolidating, if the price retests the levels of $87.80 and makes any type of bullish pattern or sign, then the counter can be stated to buy on dips. However, if the price cuts under the $87.80 price mark you can say it’s a falls breakout. It seems to me that the levels from $87.894 to $82.117 are the consolidation zone because of the major support mark of $83.204 to be pressed as per ‘Hourly’ charts like 1H,2H,3H, and 4H respectively. If the price retests the $87.80 mark shows singings of a bullish move. I see overhead resistances at the price mark of $90.00 and $94.00. • $90.00 can be considered as overhead resistances since the recent fall after the first structure change breakout. Price was rejected twice from the zone of $90.189 to $89.826 and a major fall was seen, hence the mark of $90 as per the hourly chart • $94 mark was considered, because of the major fall seen from this mark after the first structure change breakout. After the signs of a retest of the $87.80 mark, the counter can be considered as “Buy On Dips”(BOD). Then after the First Structure Change in the 1Day chart if the price sustains above the price mark of $94 you can consider the counter going in an uptrend. There is also the major possibility of the breakdown of crude, considering fundamental things. The major support level that you can see as of now is $83, if the price breaches the zone of $83.204 to $82.117 this counter can be considered as a sell-on really and the price can be seen touching the support levels of $79.418 & $76.571 as well. In my opinion, if the price breaches the mark of $76.5 and continues to move, and also if the major level in the 1day chart breaks down, then Crude would continue the Downtrend and we can say that this was just a consolidation phase. Furthermore, support levels in daily and weekly charts are $66.391, $62.069, $33.501 & $11.104 as far as I can see, after creating a Multi Time Frame view(MTF) from an “only chart analysis perspective”. practically speaking these levels aren’t possible in today’s economical times. “WTICOUSD” is the code for ‘crude oil’ on the ‘trading view’ platform source known as “OANDA” to see the chart I’m talking about.
OANDA:WTICOUSD
by rajbhilarkar2000
Ready for Next move Good Day , Hello Traders, Deepak Nitrate is giving a trendline on a Daily basis. Strength is coming from the bottom. Good candidate for the Portfolio, near term targets are 2377 / 2679 Chart Self explanatory. Time Frame : Daily. Disclaimer : I am not SEBI registered analyst, this is for educational purposes. Please trade as per your risk and do consult with your financial advisor before taking any trading decisions.. If you really like the analysis , please do comments, LIKE and Follow me.
NSE:DEEPAKNTRLong
by Piscean17th