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Candlestick Analysis

Tirupati Sarjan Ltd#stocks #investing #swing #trading #technical #RSI #candlesticks Key Points: 1. Support at ₹15-16: The stock has shown strong support at this level, as evidenced by multiple bounces. This suggests that buyers are stepping in at this zone, making it a crucial level to watch. 2. RSI Crossover with 14 EMA: The crossover of RSI above the 14-day EMA is a bullish signal, indicating increasing momentum. If the RSI continues to rise, it could suggest further upside potential. 3. Weekly Hammer Pattern: The hammer candlestick pattern on the weekly chart is often a bullish pattern, especially forming at support levels. It signifies that buyers are rejecting lower prices, which could lead to further price appreciation. 4. Resistance at ₹20-21: The resistance zone around ₹20-21 is an important hurdle. If the stock breaks through this resistance with volume, it could signal a breakout and lead to higher levels. 5. Stop-Loss: If the stock breaks below ₹15, it could invalidate the bullish outlook, and further downside may follow. Hence, view will be neglected if price breaks below ₹15. Strategy: • Bullish Bias: As long as the stock holds above ₹15, the technical indicators suggest a bullish view, with potential upside towards the ₹20-21 resistance zone. • Breakout Watch: A close above ₹21 could trigger further bullish momentum, opening the door for higher targets. • Risk Management: Set a stop-loss below ₹15 to protect against potential downside in case the support breaks. NOTE: This is a risky trade/analysis considering it’s a penny stock. Penny stocks can be highly volatile, illiquid, and subject to significant price fluctuations. Do your own due diligence and assess your risk tolerance before investing.
BSE:TIRSARJLong
by karan_bagri
BTC Trade Update : "BTC Rocket Ride: 669 Points Gained, Target i"BTC's price action has come close to hitting the first target. So far, the trade has delivered 669 points, showing strong momentum towards our anticipated levels. With price testing key support zones and facing resistance near 63,462, there's still potential for further movement. Keep an eye on the next levels for a possible continuation or pullback, as the 61,602 zone below could offer critical support if the momentum shifts."
CRYPTO:BTCUSD
by XTrap_000
Nifty weekly expiry analysis for 10/10/2024Market has given a nice movement and for two days it remained in a range but is volatile. There are chance of market either follow the bearish trend or form a 'W' pattern. Nifty has closed around crucial levels from where it can either reverse the trend or continue falling. Major support level :- 24760, 24600 Resistance level :- 25210, 25480 The weekly expiry can show a trending move after a break out or break down. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
BANKNIFTY at MAKE or BREAK zone!! The Bank Nifty showed impressive resilience today, staging a strong recovery from key demand zones as anticipated. Closing around the crucial 51,000 level, which serves as both a psychological barrier and a former demand zone turned supply zone, sets the stage for an interesting session ahead. If the Bank Nifty opens flat tomorrow, the 51,000-51,100 range is likely to act as significant resistance. Traders should watch this zone carefully for potential reversal signals or breakout attempts. However, the BJP's victory in Haryana's state elections has injected fresh optimism into the markets [. This positive sentiment, coupled with a strong opening, could potentially fuel another uptrend in the Bank Nifty. The PSU banking stocks, in particular, may see continued momentum on the back of this political outcome. Investors should remain vigilant, as the interplay between technical levels and political developments could lead to increased volatility. Keep an eye on key support levels around 50,500 and resistance at 51,500 for potential trading opportunities.
NSE:BANKNIFTY
by Wealthcam
Stock Analysis: JK Paper Ltd (Weekly Time Frame)Breakout with Retest: 1) All-Time High Breakout: JK Paper has recently broken out of its all-time high with significant volume on the weekly chart, suggesting strong bullish momentum. 2) Retest of Breakout Level: After the breakout, the stock came back to retest the previous high, which is a classic technical move. The retest was successful, and the stock has reversed from this level. 3) Marubozu Candle: A strong Marubozu candle has formed on the weekly time frame, confirming the reversal with good volume. This type of candle typically indicates strong buying pressure with no hesitation from sellers. This setup suggests that JK Paper might continue its bullish momentum after the successful retest. Keep an eye on the stock's movement for a potential entry point.
NSE:JKPAPERLong
by TechnoTrader10
Tata Motors Swing Idea (Long)Tata motors has been consolidating in range for last two weeks. Expecting a breakout next week due t following technical reason: 1) Swing Low range are shifting upward 2) Inside bar candlestick pattern on weekly 3)Trading above 20 & 50 EMA On HOURLY chart 4) Break away gaps are pending to be covered 5) Bullish Spinning bottom candlestick on weekly chart (Note: I am neither responsible for anyone's profit or loss nor I am a sebi registered RA, this only for educational purpose. Please do your own due diligence before taking any trades.)
NSE:TATAMOTORSLong
by GauravPrasad_GP
Banknifty analysis for weekly expiry 01/10/2024.Banknifty weekly expiry can be seen taking market towards another round number figure of 52500 levels. There was a good bearish movement on the daily charts, market closed 850 points lower. Chance of a follow through can be seen as both the index are moving in tandem. Watch banknifty breaching 52780 levels as there will be double support break down. Major levels to look for tomorrow :- 53060, 52780, 52625 Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by TheMamboMomentum