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The Breakout Retest Play: 5 Stocks to Consider1. Infosys NSE:INFY ● The stock has formed a Rounding Bottom pattern, and after the breakout, it rose significantly, reaching an all-time high near 1,990. ● Currently, the stock is trading slightly above the breakout level following a minor pullback. ➖ Best buy level: 1790 - 1830 2. ITC NSE:ITC ● The stock encountered resistance between the 470 and 480 levels multiple times. ● After breaking through this range, the price surged to an all-time high of 528. ● The price then faced rejection at this peak and has since retreated to the breakout level, where it is now rising again. ➖ Best buy level: 470 - 480 3. Lupin NSE:LUPIN ● The stock achieved a breakout after nearly nine years in August 2024. ● Following an initial upward movement, the stock price pulled back for a retest and is now trending upward once more. ➖ Best buy level: 2000 - 2050 4. Birlasoft NSE:BSOFT ● After breaking out of the Rounding Bottom pattern, the stock price surged to an all-time high of 856 before declining. ●The stock is currently trading at the breakout level, which appears to be a strong support. ➖ Best buy level: 550-560 5. Emami NSE:EMAMILTD ● After a prolonged consolidation, the stock developed an Inverted Head & Shoulder pattern. ● Following the breakout, the price surged to an all-time high of 860 but faced strong rejection from that level. ● The stock is now approaching a retest of the previous breakout level. ➖ Best buy level: 595 - 600
NSE:INFYLong
by GoodluckCapital
EU: Double-Bottom Formation at Key Support ZoneThe EUR/USD is currently testing a critical support zone around 1.0800 on the Daily timeframe, where price action shows potential for a bullish setup. The pair has formed a double-bottom pattern, with the second low forming at this same support level, indicating that selling pressure is weakening and buyer interest may soon increase. Technical Insights: Daily Support Zone and Double Bottom: Price has created a double-bottom pattern at the 1.0800 level, reinforcing the significance of this support. This pattern is a classic reversal signal, often signaling a potential trend change, especially when occurring at a major support zone. Confirmation with Bullish Reversal Pattern: For confirmation, look for a bullish reversal candle pattern on lower timeframes (such as H4 or H1) at this support level, like a bullish engulfing or pin bar, which would signal a potential upward move. Trade Plan: Entry: Consider entering a buy position if a strong bullish candle pattern forms around 1.0800. Stop Loss: Place below the recent low of 1.0750 to protect against further downside. Target: Initial target at 1.0900, with the potential to extend higher if the bullish momentum sustains. The double-bottom pattern, combined with the strong support zone, provides a solid basis for a potential buy opportunity, emphasizing the importance of waiting for confirmation before entry. FX:EURUSD OANDA:EURUSD FOREXCOM:EURUSD FX_IDC:EURUSD
Long
by Trading_Zone_3773
Wipro: Ready for Liftoff or Just Stretching Its Wings?🚀 Wipro: Ready for Liftoff or Just Stretching Its Wings? 🦅 #wipro Wipro is currently chilling at 555-557, but it’s got that look in its eye like it’s ready to spread its wings and soar to new heights. With 581, 610, 652, and even a moonshot to 672 on the horizon, this stock is acting like it’s seen the flight schedule and wants a one-way ticket up! 📈 It’s like Wipro woke up and said, “Why hang around in the 500s when I can join the cool kids at 610 and 652?” It’s aiming for those higher altitudes like an eagle with a fresh cup of coffee — and maybe a little too much enthusiasm! ☕🦅 For those who believe in the power of positive thinking (and some healthy chart reading), keep your binoculars ready — 672 could just be a glimpse away. Sure, the climb might be steep, but if WIPRO, feeling this motivated, who are we to hold it back? Just make sure you’ve got your stop losses and parachutes handy, in case this eagle decides to take a detour. 🪂 So, here’s to Wipro’s climb! Let’s see if it reaches for the stars or just enjoys the view at 581 for a bit. Either way, it’s going to be a fun ride! 🚀 Wish You Happy & safe trading "Always Respect Risk" Happy Trading Jai Hind Jai Bharat
NSE:WIPROLong
by DhirajSinghBais
Silver’s breaking out of a multi-year consolidation?Silver’s breaking out of a multi-year consolidation? Sure, the charts are giving you that breakout signal—a classic rounding bottom pattern. It’s a textbook setup. But I’m telling you right now, don’t get pulled into the hype. Silver isn’t your safe haven; that’s Gold’s job. When the world’s a mess, people don’t run to Silver. They run to Gold. Silver thrives when the global economy is expanding, when there’s industrial demand driving it. But let me remind you where we are: recession fears, global instability, geopolitical tensions. None of that screams “strong economy” to me. You’re not betting on Silver breaking out of a chart pattern—you’re betting on a world that’s heading into turbulence. And the world today isn’t sending the message that industrial demand for Silver is going to boom anytime soon. So, unless you think we’re suddenly going to shake off all this uncertainty, you’re just gambling on hope. Right now? The market doesn’t justify Silver. Gold is your shield when the storm hits. Silver? Not so much.
OANDA:XAGUSD
by breakout_ninja
M&MThese are compelling reasons to consider a long position on M&M: * Daily Support Level: When a stock holds at a daily support level, it often signals a buying opportunity as it tends to attract buyers, limiting downside risk. * Above 200-Day Moving Average: This is a strong indicator of an uptrend. Trading above the 200-day moving average often suggests positive sentiment and longer-term bullishness. * Relative Strength Against Nifty: Outperforming the broader market, such as Nifty, shows investor confidence in M&M compared to other sectors, suggesting resilience and potential for further upside. * Nifty Auto on Support: Support in the Nifty Auto index can help support M&M’s price movement since positive sentiment across the sector typically benefits individual auto stocks. Waiting for confirmation with a CHOCH (Change of Character) on the 1-hour timeframe is a solid approach. Here’s a structured plan based on that: * Wait for CHOCH on 1-Hour: The CHOCH would confirm a potential shift in market structure, This adds more reliability to the trade setup. * Entry on Retest / FVG / IFVG: • Retest: After the CHOCH, a retest of the breakout zone could provide an optimal entry, ensuring the breakout holds. • Fair Value Gap (FVG): If an FVG appears within this structure, entering here could capture the shift in momentum at a lower-risk point. • Imbalance Fair Value Gap (IFVG): An entry on an IFVG could further refine your risk-to- reward ratio, especially if market liquidity fills these gaps.
NSE:M_MLong
by AryanDixit
1
QUESS CORP By KRS ChartsDate: 23rd July 2024 Time: 7:20PM Why Quess Corp? 1. Fundamentally Good Company with decent P/E Ratio. 2. Since Quess Corp listed it, movement is sideways within specific range if we check bird view of it. 3. According to Dow Theory, it was making LH LL (Downtrend) but very first time in 2023 it made Higher Low and moving continuously upside and now sustain price near All-time resistance. Once it Break this resistance there is Buy Trade for Quess Corp for new Higher High ~1000Rs. And for Early Entry individual can enter small Qty at current price with SL of 591 Rs.
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NSE:QUESSLong
by KRSCharts
6
XAUUSD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
OANDA:XAUUSDLong
by okako_trading
"Gold Spot Trading Levels for Today's Precision Entry & Exit (28For today, 28th October 2024, here are the strategic levels for trading XAUUSD (Gold Spot) on the 15-minute chart: 1. Green Levels: These are the key buying levels. The marked level of 2730.280 is highlighted as a primary buying level. Please note that the exact figure on the right side is cut off, hence it's written as 2730.280 for clarity. 2. Red Levels: These are the selling levels, optimal for short positions. 3. Yellow Levels: These are the target levels to help you set realistic goals for your trades. They’re meant to give guidance on where price movements might reach, providing potential take-profit zones. This setup helps in identifying precise entries and exits for today's trading session on Gold.
OANDA:XAUUSD
by XTrap_000
Bitcoin: BTCUSD bulls eye $68,700 resistance as key week beginsBitcoin's (BTCUSD) recent gains are under pressure as traders await important data this week, including the US Q3 GDP, Fed Inflation, and Nonfarm Payrolls (NFP). However, optimism about post-US election industry regulations and strong ETF inflows continue to support buyers. BTCUSD braces for major upside Although Bitcoin (BTCUSD) buyers take a breather, the prices remain above the key resistance-turned-support, and the oscillators are positive, too, suggesting the cryptocurrency pair’s further advances. That said, the quote’s sustained trading beyond the 100-SMA and month-old horizontal support join bullish MACD signals and an upbeat RSI (14) line, keeping the buyers hopeful. Key technical levels to watch Among the important technical levels, a one-week-old descending resistance line surrounding $68,700 gains immediate attention. Following that, the monthly high surrounding $69,490 and the $70,000 threshold will be in the spotlight. It should be noted that the BTCUSD pair’s successful trading beyond the $70,000 hurdle enables the buyers to aim for the yearly high of around $73,800. Meanwhile, the 100-SMA and aforementioned horizontal support restrict the short-term downside of Bitcoin to around $66,600 and $66,100 respectively. In a case where the BTCUSD prices remain bearish past $66,100, an upward-sloping trend line from early September, close to $63,000 at the latest, will be the final defense of the buyers. An interesting week for buyers Despite positive technical and fundamental signals for Bitcoin buyers, key data and events could introduce volatility, leading to month-end consolidation. Bulls should stay cautious, as they are likely to maintain control of the market.
BITSTAMP:BTCUSD
by MTradingGlobal
Nifty Intraday Levels | 28-OCT-2024Nifty Options Scalping 1️⃣ Zones to Watch: 👉Green Zone: Institutional support 👉Red Zone: Institutional resistance 👉Gap: 100-200 points between zones 👉Zone Creation: Based on pivot points and Fibonacci 👉Chart: Use Nifty futures chart for reference 2️⃣ Trade Execution: 👉Order Flow: Triggers trades 👉Timeframes: 1-min & 5-min for scalping 👉Risk-Reward: 1:2 (Risk 1 to gain 2) 👉Strike Price: ATM or slightly ITM options 👉Position Sizing: Adjust to risk tolerance 3️⃣ Rules: 👉9:15 AM Sharp: Ready for market open 👉Risk Management: Top priority 👉Quick Trades: "Morning breakfast" scalps 👉Stop-Loss: 10 points #ThankU For Checking Out Our IDEA , We Hope U Liked IT 📌 🙏 FOLLOW for more content! 👍 LIKE if you found it useful! ✍️ COMMENT below with your thoughts and feedback!
NSE:NIFTY1!
by ReviveTraders