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Chart Patterns

Sundaram Finance Ltd. Chart Analysis The technical analysis of **Sundaram Finance Ltd.** using multiple indicators and features, including **Heikin Ashi candles**, **ATR trailing stops**, **support and resistance levels**, and various oscillators like **MACD** and **RSI**. Here is a detailed breakdown of the key observations: --- ### **1. Price Action and Trend Analysis** - **Heikin Ashi Candles**: - The green candles indicate an uptrend, and the red candles indicate a downtrend. - There is a visible **falling wedge pattern** highlighted during the recent downtrend. A falling wedge is typically a **bullish reversal pattern**, which aligns with the price breakout seen at the end of the wedge. - **Support and Resistance Levels**: - Key resistance: Marked in purple (₹5,535.85). - Key support: Marked in blue (₹3,732.90). The price seems to have tested this support level during the recent downtrend and rebounded. - **ATR Trailing Stops**: - The red and green trailing stop lines show dynamic support and resistance. The price has shifted above the green ATR line, indicating a bullish reversal. --- ### **2. Volume Analysis** - **Volume Spike Indicator**: - The histogram shows increasing green bars during the upward movement, suggesting strong buying momentum. --- ### **3. MACD Indicator** - **MACD Lines**: - The blue and red lines represent the MACD and Signal lines, respectively. - The bearish divergence marked earlier (when the price made higher highs but MACD made lower highs) indicates weakening bullish momentum, which led to the correction. - The MACD histogram has turned positive again, signaling a bullish crossover and renewed upward momentum. --- ### **4. RSI (Relative Strength Index)** - **RSI Lines**: - The green line represents the RSI value (38.03 currently). - RSI is moving upwards from the oversold zone, which suggests a possible reversal in the trend. - Breaking above the midline (50) will further confirm bullish strength. --- ### **5. Pattern Highlight** - **Falling Wedge**: - The falling wedge is a strong reversal pattern, and its breakout suggests potential upward movement. - The breakout is supported by rising volume, adding strength to the pattern. --- ### **Key Insights and Forecast** 1. **Bullish Signs**: - Price has broken out of the falling wedge pattern with strong volume. - MACD bullish crossover and RSI moving out of oversold zones support a positive outlook. 2. **Resistance Levels**: - Immediate resistance at ₹4,450 (marked by ATR and prior consolidation zone). - Major resistance at ₹5,535.85. 3. **Support Levels**: - ₹3,732.90 remains a strong support. 4. **Caution**: - Watch for any pullback towards the support zone, especially if volume weakens or RSI fails to break 50. --- ### **Trading Strategy** - **Long Position**: - Enter on a retest of ₹4,000-₹4,100 zone (if confirmed with bullish candles). - Target 1: ₹4,450 | Target 2: ₹5,535. - Stop-loss: ₹3,700. - **Short-term Momentum**: - Monitor for MACD histogram and RSI strength to sustain.
NSE:SUNDARMFINLong
by ramumaurya
NIFTY INTRADAY LEVELS FOR 10/12/2024BUY ABOVE - 24650 SL - 24570 TARGETS - 24700,24760,24860 SELL BELOW - 24570 SL - 24640 TARGETS - 24500,24420,24340 NO TRADE ZONE - 24570 to 24650 Previous Day High - 24700 Previous Day Low - 24570 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:NIFTY
by Jagadheesh_JP
BANK NIFTY INTRADAY LEVELS FOR 10/12/2024BUY ABOVE - 53670 SL - 53690 TARGETS - 53890,54150,54400 SELL BELOW - 53390 SL - 53670 TARGETS - 53190,52970,52800 NO TRADE ZONE - 53390 to 53670 Previous Day High - 53890 Previous Day Low - 53390 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:BANKNIFTY
by Jagadheesh_JP
4
Gold - SellI am expecting larger fall in Gold for following reasons. 1) China discovery of large Gold reserve, 2) US asking Ukrain to stop its actions and war with Russia. with out US support Ukrain can not fight with Russia any more. France facing internal Issues and Nato with out US can not support Ukrain to fight any further against Russia. 3) chart is reflecting end of bull run for Gold and this will not be small correction but once Gold becomes bearish more sell off will make Gold to see great low levels. Gold is not going to be safe investment anymore. world is changing. Grow up and Book Profits in Gold asap. Even if Gold may or may not fall as i am suggesting I do not see another new ATH for sure in medium term.
COMEX:GC1!Short
by venkatfx
3
EIHOTEL - Stock to be in RADAR and Hidden Trendlines MarkedView : To be determined Entry Zone- Once the price breaks out of the Black color trendline with a strong green candle. Timeframe: Daily Notes: The price has been consolidating since Feb 2024, forming a Wedge pattern. Also, Hidden line marked in black color. Resistance and support levels are marked on the chart, showing how the price has consistently respected these levels. * This is not a trading recommendation; for educational purposes only
NSE:EIHOTELLong
by Breakout_Spotter