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Candlestickpattern

Views on BANKNIFTY on NSE (INDIA)This is weekly chart of BANKNIFTY on NSE (INDIA) with CMP @ 25,737.50. Critical analysis/observations as mentioned below suggest that we may take short term bullish view: 1. Price was following a rising channel from December 2015 till price broke down in Sep 2018 as indicated on chart. 2. During rise in price (MARCH 2018 to AUGUST 2018), it can be seen that it failed to go up and test upper end of the channel which indicated loss of momentum. 3. Strong support @ 23650 has been marked on the chart. 4. Bullish kicker has been formed in OCT 2018 and price has shown reversal from 78.6% retracement level as shown on the chart. 5. New probable channel has been drawn which price is likely to follow (Marked on chart). 6. Stochastic RSI is in oversold area and has indicated bullish crossover. 7. However, it is likely to face stiff resistance to enter the previous channel. In view of above, immediate target can be considered at 26,600 which is middle of probable channel shown on the chart.
NSE:BANKNIFTYLong
by DEVERAMA
An investment idea in DIVISLAB on NSE (INDIA)This is weekly chart of DIVISLAB on NSE with CMP @ 1477.80. It seems to be an excellent scrip for long term investment based on following observations: 1. Price was trading in a channel as shown on the chart since June 2011 unless it broke down in Dec 2016. Price once again has entered the channel after deep corrections. 2. Price has broken previous high made in Sep 2016. 3. Support zone has been indicated on the chart based on price action. Price after testing the lower end of support zone, has formed bullish kicker in the last week with substantial rise in volume. 4. MACD indicates bullish view. Price seems to be all set to go past 1800 (upper fibre of rising channel). Hence, it looks good from investment perspective with initial stop below 1324 (below bullish candle of last week on closing basis) and ride the trend. Happy investing...
NSE:DIVISLABLong
by DEVERAMA
An investment idea in MARUTI on NSE (INDIA)This is weekly chart of MARUTI on NSE (INDIA) with CMP @ 7165. It seems to be a good investment opportunity in this scrip based on following observations: 1. During the week starting 10th July 2017, there was sharp fall in the price and then immediate recovery in the same week. It entails that huge demand surfaced in the week. Again the same level has been tested on 8th Oct 2018 and 22nd Oct 2018 before it indicated reversal. (these points are marked on the chart with arrows). 2. Price retraced to key level of 61.8% on Fibo before it is showing reversal as shown on the chart. 3. Double horn formation can be witnessed during 22nd Oct - 29th Oct 2018) 4. Price came quite close to EMA200 before showing reversal post consolidation. Similar price behaviour can be seen on the chart earlier during 29th Feb to 4th April 2016) before major bull run in this stock. 5. Bullish divergence is also witnessed on RSI as indicated/marked on the chart. In view of above, it looks an excellent stock for investment perspective with Stop@ low of previous low.
NSE:MARUTILong
by DEVERAMA
LONG in KOTAKBANK on NSE (INDIA)This is daily chart of KOTAKBANK (CMP : 1132.15) on NSE (INDIA). In my opinion, it's a good opportunity for a long trade. Opinion is based on following observations on the chart: 1. Support zone has been marked on the chart which is indicated by multiple supports/resistances using arrows. 2. Trendline drawn on the chart has been tested several times (marked by arrows) 3. Bullish kicker has been formed on 2nd Nov 2018 after testing support accompanied with substantial rise in volume which is a strong reversal sign. 4. RSI has taken several supports at 40 and this time also, it shows reversal from 40 accompanied with bullish kicker as mentioned in preceding point no. 3. In view of above, it could be a long trade with Stop @ 1198 (below swing low) and immediate target could be 1180 (forthcoming resistance) Happy trading....Your view points are valuable in cross learning.....
NSE:KOTAKBANKLong
by DEVERAMA
Nifty 50 ( BULLS Vs BEARS) Daily Chart candlestick AnalysisNifty -0.14% index opened gap up Last week on Friday but witnessed some selling at higher levels and corrected towards 10451 zones. It formed a Spinning Top candle on the daily scale which means that bulls are not loosening their grip but 1st Time bears are putting pressure at their Strong Zones which was expected. It has been making higher highs from last ten consecutive trading sessions Now if it negates this formation, then only a pause in positive momentum could be seen. It closed the week at a crucial 10480 zones and a decisive hold is required to extend its up move towards 10496 then 10562 while on the downside supports are seen at 10425-then 10390 levels. What would BEARS Do in his Next Attack on BULLS??? Stay Connected for more Fight Analysis of ( BULLS Vs BEARS) Please Like, Share, Comment, Follow your Views Thank you, God Bless You Sachin
NSE:NIFTYEducation
by Sachin_Ghodke
1
Nifty50 ( BULLS Vs BEARS ) Daily Chart'Nifty index opened Gap down breaching previous Lows of 10077 and made new low 10049 in near psychological 10000 support area , sustained buying pressure from lows near about 100 point rally up to 10155 recovers Bulls in Action and tried to stand still against bears positively. Bears Tried to drag down Bulls in last Session but Bulls managed to Hold the Fight settled down. Nifty50 Index on daily chart formed inside Bullish Candle but not surpass the Engulfing pattern near Previous Swing Lows with 200DMA support. Now if Bulls lift up with its power with yesterday recovery then the hurdles for index are 10168-10198-10222 zones and supports at 10090-10035-9990 Please Like, Share your Views Thank you God Bless You Sachin
NSE:NIFTYEducation
by Sachin_Ghodke
Escorts Weekly ChartNSE:ESCORTS As We can see Escorts had a Top around 750-770 levels where it formed a Bearish Engulfing Pattern(Marked Area). Now at the same Area It made a Reversal Candlestick Pattern called Shooting Star(Marked Area) with Volumes above Average. That Pattern is also called "Falling of the Roof(Steve Nison)" which touches targets in fast momentum. Risk:Reward looks favorable. So Entry Should be taken below Shooting Star Candle's Low with a close above it as Stoploss and Recent Low as Target. See chart for better understanding. Sell Below 720-718 Area With SL of 790 (Closing Basis) and Target of 610-630 Area
NSE:ESCORTSShort
by abhishek72457