Candlestick Analysis
CREDITACC- Price at support line forming Morning StarThe 850 range has been a significant support level for this stock since 2020. After a decline from its all-time high of 1750 to the 850 range, the price is now forming a Morning Star pattern on the weekly timeframe. An entry opportunity is available only on Friday if the green candle formation is good without long wick, with a stop-loss placed below the hammer candle.
Engineers India offers good RR from this price level. -Good RR setup.
-Bouncing from a support level with Volume.
-Formed a bullish engulfing candle.
-Broke out of Trendline.
-Double Bottom at support level.
Overall, it's good for a swing.
This is not a Buy/Sell Recommendation. Please do your due diligence.
Risk- 15.4%
Reward: 29.8%
RR- 1:1.9
Option Buying in Nifty 28-11-2024Hey Traders,
As i have marked some important levels in Nifty trade, there are high chances that Nifty might move on higher side tomorrow. here are the few steps to follow
If buyers are more active in 1st hour then there is high probability that option buying may give good returns tomorrow. if SL hits then will shot the call option (Far OTM) with small SL.
P.S:- Tomorrow is Nifty Expiry trade with caution.
Happy Trading
Thanks
AU SMALL FINANCE BANK - SWING TRADING IDEASymbol - AUBANK
AUBANK is currently trading at 575
I'm seeing a trading opportunity on buy side.
Buying AUBANK Futures at 575
I will add more long position at 566, if comes.
Holding with SL of 558
Targets I'm expecting are 600 - 620 & above.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
Three White Soldiers | Educational | Colpal The Three White Soldiers candlestick pattern is commonly used in technical analysis.
The pattern identifies potential bullish reversals in a downtrend or a period of consolidation. Traders often use the pattern and other technical analysis tools, such as support and resistance levels, trend lines, and volume indicators, to confirm the trend’s strength and potential entry and exit points.
The Three White Soldiers pattern can be used on various time frames, from short-term intraday charts to longer-term weekly or monthly charts, depending on the trading strategy and goals.
Disclaimer: This is for educational purpose. Definition and details can be found on any other search engine / books/ articles etc.
Nifty 50 - 26-11-2024 TuesdaySorry I am not able to publish everyday coz of busy market hours.
Here are some small updates. We have drawn a new resistance line at 24345. Which means market will spend time here and will take extra effort to break this. So market will go up only after sitting above and taking its support.
For today focus on HDFC BANK N reliance movements.
Single direction means market follows the direction in which both moves
Both in convergence or divergence. Market to eat premiums.
So small qty call shorting is suggested with Sl. 40-50
Prajindustries All set for a breakout?
✅Bullish Engulfing from support levels.
✅Good Volume
✅Dry volume when pulling back.
✅Trading above Key DMAs.
❗️Positional SL is very deep(20%)- Adjust SL as per your appetite and position sizing technique.
Position sizing is very important if you are building positions.
Aggressive trader's SL after the breakout is 761 closing basis.
The view is personal. Please do your due diligence before trading. This is not a buy-sell recommendation.
We missed the ideal entry when the stock broke out of the trendline area ( 718-19 range)
-Market Cap₹ 14,798 Cr.
-Current Price₹ 803
-Stock P/E 53.2
-ROCE29.3 %
-ROE23.3 %
National Aluminum looks strong. Add to your WLNationalaluminium- add to your Watch List.
✅Good pattern- Forming VCP, inverse H&S
✅Stock in an uptrend.
✅Resisted the overall market fall
✅Never fell below 50-200 DMAs while many stocks
were trading well below that in this correction.
✅Volumes are picking up now.
✅3 White soldiers on DTF.
This is a good positional long-term bet. Accumulate or pyramid in this.
This is just my view. This is not a buy/sell recommendation. Please trade as per your risk appetite and discretion.
Positional or Long-term Opportunity in Kotak BankGo Long @ 1893.7 for Targets of 1977.4, 2061.1, and 2228.5 with SL 1810
Reasons to go Long :
1. On the weekly timeframe stock gave Trendline breakout (marked with green color) & now it's taking support from it.
2. If we draw Fibonacci retracement from the recent swing low to the swing high then the stock took support from the 0.382 Fibonacci level.
3. In addition to this, the stock formed a Bullish Engulfing pattern around 0.382 Fibonacci level.
GPPL - Engulfing candle near support lineThe 170 price range has been serving as a strong support line since February 2024, with the price previously testing this level three times. Now, the price has returned to the same level and engulf candle structure, increasing the probability of a bounce back toward the resistance line. Additionally, the stock is forming an open wedge pattern, further supporting the bullish outlook.
Kabra Extusion : Breakout Candidate#kabraextru #swingtrade #breakout #TWS #chartpatterns #trendingetup
Kabraextru : Swing Trade
>> TWS = Big Players Present
>> VCP formation Visible
>> Breakout Candidate
>> Good Strength & Volumes
>> Good Upside Potential
Swing Traders can Lock Profit at 10% and keep trailing
Note: In Current Market Scenario even best of Setup's can FAIL, Hence Trade only Good Setups with proper Risk Management & Position Sizing
Disclaimer : This is not a Trade Recommendation, Charts Shared are for Learning & Study Purpose.
NIFTY (1 DAY)Nifty 50 can lift from here have some reasons at below
- Nifty 50 is 11% down from last all time high.
- Touching big supports & trendlines.
- Near fibonacci zone (23250-23500).
- Formatting pulling up candles like dojis in last 3 days.
- Created high when nifty gave biggest fall of 2024 is support.
for all other reasons chart says it all.