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IEX Rounding Bottom PatternIEX has formed a bullish chart pattern called Rounding Bottom. A rounding bottom, also known as a saucer bottom, is a technical analysis pattern that signals a potential reversal from a bearish to a bullish trend. It is characterized by a gradual decline in price followed by a gradual rise, creating a shape resembling a "U." Here's a detailed guide on how to trade this pattern, inspired by principles often discussed in trading academies like Arvind Share Academy: Identifying a Rounding Bottom Formation Period: This pattern typically forms over a long period, ranging from several weeks to months. Here it takes approximately 2 years Volume Analysis: Volume usually decreases as the price declines and remains low during the bottoming process. As the price starts to rise, volume typically increases. Pattern Shape: The price action creates a U-shaped curve, indicating a gradual shift in sentiment from bearish to bullish. Trading Strategy for Rounding Bottom 1. Confirmation of the Pattern Wait for the price to break above the resistance level formed at the beginning of the rounding bottom. This breakout confirms the pattern. Increased volume on the breakout reinforces the validity of the pattern. 2. Entry Point 180 Enter the trade when the price closes above the resistance level on strong volume. Some traders may wait for a pullback to the breakout level to enter a trade for a better risk/reward ratio. 3. Setting Stop-Loss below 160 Place a stop-loss order below the lowest point of the rounding bottom to protect against false breakouts. Alternatively, a more conservative approach is to place the stop-loss below a recent support level after the breakout. 4. Profit Target 280 Measure the distance from the lowest point of the pattern to the resistance level. This distance can be projected upwards from the breakout point to estimate the potential price target. Some traders may use trailing stops to lock in profits as the price continues to move in their favor. 5. Monitoring Volume Continuously monitor volume to ensure it supports the price movement. Declining volume during the breakout or subsequent uptrend can signal weakening momentum. Thanks & Regards Arvind Yadav, Cfa Arvind Share Academy
NSE:IEXLong
by Arvind_Share_Academy
2
Ge T&d India Limited - Breakout Setup, Move is ON...#GET_D trading above Resistance of 1564 Next Resistance is at 2168 Support is at 1047 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:GVT_DLong
by MandeepSinghKohli
Shipping Corporation Of India Ltd - Breakout Setup, Move is ON..#SCI trading above Resistance of 268 Next Resistance is at 418 Support is at 171 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:SCILong
by MandeepSinghKohli
1
Exide Industries Ltd - Breakout Setup, Move is ON...#EXIDEIND trading above Resistance of 527 Next Resistance is at 595 Support is at 445 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:EXIDEINDLong
by MandeepSinghKohli
Supreme Industries Ltd - Breakout Setup, Move is ON...#SUPREMEIND trading above Resistance of 5802 Next Resistance is at 7722 Support is at 3880 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:SUPREMEINDLong
by MandeepSinghKohli
Elecon Engineering Company - Breakout Setup, Move is ON...#ELECON trading above Resistance of 1189 Next Resistance is at 1655 Support is at 987 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
ELong
by MandeepSinghKohli
Gravita India - Breakout Setup, Move is ON...#GRAVITA trading above Resistance of 1157 Next Resistance is at 1625 Support is at 886 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:GRAVITALong
by MandeepSinghKohli
Shipping Corporation Of India Ltd - Long Setup, Move is ON...#SCI trading above Resistance of 199 Next Resistance is at 268 Support is at 150 Here is previous chart: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:SCILong
by MandeepSinghKohli
1
Cochin Shipyard - Breakout Setup, Move is ON...#COCHINSHIP trading above Resistance of 1370 Next Resistance is at 2046 Support is at 930 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:COCHINSHIPLong
by MandeepSinghKohli
Ge T&d India Limited - Breakout Setup, Move is ON...#GET_D trading above Resistance of 1148 Next Resistance is at 1564 Support is at 731 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:GVT_DLong
by MandeepSinghKohli
Zen Technologies Limited - Long Setup, Move is ON...#ZENTEC trading above Resistance of 837 Next Resistance is at 1072 Support is at 630 Here is previous chart: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:ZENTECLong
by MandeepSinghKohli
3
Kirloskar Brothers Limited - Breakout Setup, Move is ON...#KIRLOSBROS trading above Resistance of 1586 Next Resistance is at 2039 Support is at 1152 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:KIRLOSBROSLong
by MandeepSinghKohli
Mazagon Dock Shipbuilders - Breakout Setup, Move is ON...#MAZDOCK trading above Resistance of 2955 Next Resistance is at 3619 Support is at 1986 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:MAZDOCKLong
by MandeepSinghKohli
Bajaj Auto Ltd - Breakout Setup, Move is ON...#BAJAJ_AUTO trading above Resistance of 8903 Next Resistance is at 9877 Support is at 7736 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:BAJAJ_AUTOLong
by MandeepSinghKohli
Exide Industries Ltd - Breakout Setup, Move is ON...#EXIDEIND trading above Resistance of 415 Next Resistance is at 527 Support is at 304 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:EXIDEINDLong
by MandeepSinghKohli
Elecon Engineering Company - Long Setup, Move is ON...#ELECON trading above Resistance of 987 Next Resistance is at 1189 Support is at 767 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
ELong
by MandeepSinghKohli