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Candlestick Analysis

SRM CONTRACTORS - At Channel Support The stock has been travelling in an ascending channel respecting the borders in 4 previous instances. Within the channel, we have seen how the stock price action has been repeating itself. As the saying goes history repeats itself, this time again the stock has shown strength at the channel support which in my opinion seems to be indicating a possible rally towards the upper border of the channel. Only time will tell. Company has reduced debt. Company is expected to give good quarter 3 Years ROE 34 %
NSE:SRMLong
by CannySunny
4
Nifty 50: Market Structure Break on 60-Hour TimeframeMarket Structure Break: The 60-minute timeframe shows a clear structural break, pushing prices into a premium zone. Premium to Discount Retracement: Given the overextended nature of the premium zone, a retracement to a discount zone is expected. Potential Reversal: The retracement could lead to a reversal, where market momentum shifts, creating a more balanced trading environment. Consolidation Point: The market is likely to consolidate around the 23400 level, a critical juncture that corresponds with the FVG and discount zone, serving as a potential springboard for future upward movement. Traders should monitor the price action closely in the discount zone for signs of reversal confirmation.
NSE:NIFTY
by HighProbabilitySetups
1
BOMBAY SUPER SEEDS LTD [BSHSL]- DESCENDING CHANNEL PATTERN1. Pattern Analysis: What We See - Pattern Name: Descending Channel with Double Bottom Breakout. - What is Happening? - The stock has been moving downwards within a descending channel for the last two years. This means the price has been repeatedly bouncing between two downward-sloping lines (the upper red resistance line and the lower blue support line). - Recently, the price broke above ₹173, which was the resistance level of the descending channel and the breakout point for a double bottom pattern (a strong bullish reversal pattern). - Why is This Important? - A breakout from such long-term patterns, especially with strong volume, indicates that the trend is changing from bearish to bullish. - The stock is showing strength and is now poised to move higher if it holds above ₹173. 2. Volume Analysis: What the Numbers Tell Us - Recent Volume Behavior: - Over the past two weeks, we’ve seen a sharp increase in trading volume. This suggests that big players (like institutions) are buying the stock in anticipation of higher prices. - This spike in volume aligns perfectly with the breakout above ₹173, adding confidence to the bullish signal. 3. Price Action: What the Candles Show - Recent Candlesticks: - The last few candles on the chart are big and bullish (wide bodies with strong upward movement). - The stock is now trading near ₹170–₹173, showing strength after the breakout. 4. Bullish Signal Confirmation - Breakout Confirmation: - The stock has crossed and stayed above ₹173, confirming the breakout. - This is a clear sign of a bullish trend reversal. - Key Levels to Watch: - Support (Safety Net): ₹150 is the critical support level. If the stock falls below this, the bullish setup could weaken. - Resistance (Next Hurdles): - First Target: ₹200 (psychological and historical resistance). - Second Target: ₹260 (next major resistance based on the pattern). 5. Entry, Targets, and Stop Loss - Recommended Entry: - You can consider entering near ₹173 if the stock holds above this level with good volume. - Targets: - First Target: ₹200 (short-term). - Second Target: ₹260 (medium-term). - Stop Loss: - Keep a stop loss at ₹150. This ensures that if the stock moves against the setup, your losses are minimized. Disclaimer: This analysis is for educational purposes only and should not be considered as investment advice. We are SEBI-registered research analysts, and while the information shared is based on thorough technical analysis, you are strongly advised to consult your financial advisor or analyst before making any investment decisions. Markets carry risks, and past performance does not guarantee future results.
NSE:BSHSLLong
by Mr_Chartist_
WIPRO! SHORT!! Wipro Ltd is a global leader in Information Technology (IT), consulting, and Business Process Services (BPS). It ranks as the fourth largest Indian player in the global IT services industry, following TCS, Infosys, and HCL Technologies. Sales Growth: Over the past five years, Wipro has experienced a relatively poor sales growth of 8.75%. Dividend Payout: The company has maintained a low dividend payout ratio of 12.2% of profits over the last three years. Technical Analysis: Bearish Engulfing Candlestick Pattern: A bearish engulfing pattern formed at the top in Weekly Timeframe, indicating a potential reversal in the stock's down trend. Entry : @ 300 to 305 Range for shorting Stop Loss : 315 Target : 285 to 275 ++ Strategy: One can take 300 PE FEB month Expiry or Short the Future. Let me know what you think about this analysis. Happy Trading!
NSE:WIPROShort
by Vikrant_Mighty
3
#SRF - Potential STAGE 1 Break Out (Multi Year Consolidation)📊 Script: SRF Key highlights: 💡⚡ 📈 STAGE 1 - Accumulation formation in Weekly chart. 📈 Price gave a good up move, then went Side Ways 📈 Multi year Price consolidation 📈 Multiple Inside Bars formed in Daily chart 📈 Enter on BO when spike in Volume is seen 📈 MACD Cross Over 📈 One can go for Swing Trade. BUY ONLY ABOVE 2700 DCB ⏱️ C.M.P 📑💰- 2583 🟢 Target 🎯🏆 – NA% ⚠️ Stoploss ☠️🚫 – NA% ⚠️ Important: Always Exit the trade before any Event. ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Boost, Like and follow to never miss a new idea! ✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with MMT. Cheers!🥂
NSE:SRFLong
by MMT_MakeMoneyTrading
1
SRF Ltd showing bullishness after a long consolidation.SRF Ltd is trading above the trading range and there are chance of the stock travelling forming new highs. The stock has been consolidating in a range for over 3 years and finally the stock has closed above the resistance zone on the daily time frame. In today's session the stock has move more than 6% and in current week it move 10% (approz). After consolidating in a 40% range for a long time, there are chance the stock can test 4600-4700 levels this year. Target levels :- 4692 Stop Loss :- 2480 Entry can be made once the stock retest the break out zone (around 2750-70). Wait and watch for price action near the zone and trade accordingly.
NSE:SRFLong
by TheMamboMomentum
JSB - Trend changing ?JSB - CURRENT PRICE : RM0.485 After finished its downtrend phase, the stock moves in sideways for 3 months (from OCTOBER 2024 until JANUARY 2025). Recently the share price starts to climbing up indicating some bullish scenario. However after a bad news related to the company published, the stock made a falling window (GAP DOWN) on 23 JANUARY 2025. Last Friday the stock managed to recover from the recent sell off and closed as a BULLISH PIERCING LINE. This shows that there is still buying interest in this stock. Based on JAPANESE CANDLESTICK CHARTING TECHNIQUES, falling window may acts as strong resistance level. In this case, RM0.500 may considered as a critical resistance level for this stock. As such, a breakout above RM0.500 , technically will trigger a buy signal at RM0.505 for CANDLESTICK traders. In conclusion, it is a pending breakout stock. ENTRY PRICE : RM0.505 TARGET : RM0.550 , RM0.595 STOP LOSS : RM0.465 (the low of BULLISH PIERCING LINE)
MYX:JSBLong
by IMRAN_96
INDUSTOWER - Support line and Bullish EngulfingThe 324 level, which previously acted as a strong resistance since 2019, is now serving as a solid support, as indicated by the price holding above the orange trendline. On the daily timeframe, the price has successfully broken out of the triangle pattern. Additionally, the previous week's bullish engulfing candle on the weekly timeframe further supports the bullish bias. This setup presents a favorable swing trade opportunity, with a target of ₹500 and a stop-loss placed below ₹310 on a weekly closing basis.
NSE:INDUSTOWERLong
by Breakout_Spotter
Positional or Longterm Opportunity on NHPCGo Long @ 84.65 for Targets of 91.6, 98.55, 105.5 and 112.45 with SL 77.7 Reasons to go Long : 1. On a Monthly timeframe if we draw the Fibonacci retracement tool from the recent swing low (point A) to the recent swing high (point B) then we see stock took support from the 0.382 Fibonacci level. 2. In addition to this a bullish candlestick pattern Bullish Harami (marked with orange color) is formed around the 0.382 Fibonacci level. 3. Also there is a strong support zone (marked with green color), from which the stock is taking support and moving up.
NSE:NHPCLong
by Nimish_Ghagare
3
Nifty weekly expiry analysis for 16/01/2025For last 2 trading session nifty is consolidating in a box, while banknifty is moving 400-500 points in intraday and tomorrow is it's weekly expiry. If the market starts trading outside the box, there is high probability of forming a trending day for the index. Market had respected the round number support of 23k. It can either retest the support or even breach the recent low to test the support trendline. Major levels (for intraday) Support :- 23135, 23000 Resistance :- 23285, 23380 Wait and watch the price action for confirming the direction and intensity of the move.
NSE:NIFTY
by TheMamboMomentum