IDFC First Bank has been in a long period of consolidation that has formed a triangle.
Over the past few weeks, such consolidation period can be seen to round off into two smaller bottoms, forming higher lows.
200 EMA support is pushing the stock into a triangle breakout now, which looks good to achieve the charted targets over the next few weeks.
The USDINR currency pair charts weekly charts showing an inverted hammer formation at previous resistance zone close by trendline channel top shows the presence of bears and could be potential reversal signal that could possibly mean it is less likely for the currency pair to move to 76 levels and beyond. The dollar index may be facing resistance before 94.7. ...
SHAKTIPUMP | RSI + Trendline breakout | Looks potential for 30%
CMP : 800 (Dip : 750)
SL : 730
Target : 1050
1:4 risk reward setup
Target calculated based on Fib and Triangle size
Not necessary to exit with the stoploss at 730, it has very good support till 650.
This stoploss is only applicable for momentum trade who is taking breakout trades as per this pattern.
hathway : cmp 26.25
trade set up :
buy up to 24
keep stop loss as 18.10 on closing basis
technical buy based on :
1. symmetrical triangle
2. parallel channel
3. trend line support
5. bullish engulfing candle
6. valuation in the sector .
IGL is clearly seen respecting its support line in the past.
This can be a good risk reward ratio entry, wait for formation of any bullish candlestick pattern on support line like morning star, bullish harami, bullish engulfing , hammer etc.
After completion of pattern long trade can be taken here.
Note : If support trend line breaks downside, avoid taking trade...
risk: Reward ratio is 1: 2
Rest as per Charts
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at...