Jubilant food has been underperforming since few years. Stock has formed strong positive RSI divergence at confluence of supports. Above 500, reversal will start and above 600 , reversal will be confirmed. Valuation wise, not a good stock but RSI divergence stock are known to give quick, big moves. All positional traders shouldn't miss this stock
~ #BOMDYEING - Gave a good breakout of multiple patterns ~ Breakout of a 3T VCP Pattern ~ Trendline Breakout ~ Stock Looks good for both Swing and Positional Trades
Lauruslabs has given a good breakout of trendline and horizontal resistance with volume. Stock is looking strong for a reversal and can fly towards ATH if market supports. Keep in watchlist.
Considering the convergence level & wave count, have drawn few important support & resistance levels. At current price structure, the prices could extend upto 84700 -84800 levels, this level has more convergence or going to be the area of confluence. & price movement also stiff & it has expended more than 1.5X of 200 EMA. T1: 79450 T2: 84800 T3: 90800
Jindalworld is looking very strong. It is a confluence of horizontal and trendline breakout with heavy volumes. Valuation is not justified.PE>100. Not a good fundamental pick but purely a technical pick.
Petronet LNG is an investment stock with amazing dividend yield and a TTM PE ratio of around 10 at CMP of 222. The chart of stock is quite simple. The stock is consolidating since 2017 but has continuously took support from a trendline which was earlier a resistance. The stock is currently available at a strong demand zone which is the confluence of it 200 week...
GNFC has given a very strong weekly closing on Friday.600-610 was acting as a strong resistance and the stock has managed to close above it. A trendline breakout is also seen in the stock. The chart is showing strong bullish trend after retesting the weekly demand zone of 500-520 followed by strong reversal from weekly support trendline. Positional traders can...
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As a trader one must always look for a High Confluence setup. At least 3 technical points should meet at each other to be called as high confluence setup. In this case of $LRC 1. Price crossed trendline 2. Support zone successfully retested and created a demand. 3. Price also reversed from 50% Fib retracement. I am loving this, I am taking trade in it with entry,...
Confluence or High Quality trading is where 3 or 4 technical signals merge with each other. BINANCE:MAGICUSDT showed up a nice confluence with FIB Levels, Exponential Moving Average, Trendline break and all that at Support zone. This High quality trade is what a Daytrader should always patiently wait and look for. All my level are marked in the picture. Let's...
NSE:IRCTC The price, after the breakout from the channel pattern is regularly testing the Trendline and taking a support from it. Now the price is again testing the trendline, and also testing the confluence of the major moving averages. This is the reason I am very confident on this trade. This is a positional trade for upto 3 months. This Target levels are 758...
Another reversal pattern at important juncture, It seems like profit booking has occurred at supply zone. Evening Star formation : The support holds at low of first candle and same level has been tested today 17300-350 level is the point of the control zone , it has maximum volume spread. Price pattern has created a confluence zone , It would act as...
Two scenarios . 1. The stock has made H &S pattern. The pattern must break the historical support and retest the area for confirmation showing bear grip. 2. The area of confluence + Strong Q1 results + positive global sentiments shows bullishness in stock. A rejection long wick candle validates this but the H & S pattern formed may trap investors. 3. Since the...
NSE:EICHERMOT Eicher Motors Limited, incorporated in 1982, is the listed company of the Eicher Group in India and a leading player in the Indian automobile industry and the global leader in middleweight motorcycles. Eicher has a joint venture with Sweden’s AB Volvo to create Volvo Eicher Commercial Vehicles Limited (VECV). VECV is engaged in truck and bus...
As we see IEX is on AREA OF CONFLUENCE (majore support area + 200ema support). we can go long by keeping our stoploss below 200ema.
Point A on the cypher will act as an inflection, it may rip up to target D, or it may respect spirals and pullback. Angles 28 and 108 converge on 13.81 x 1/28/22 with cypher confluence. There are also target areas on C (14.44 x 4/14/22) and D 93.6 x 9/3/22.
HINDUNILVR is taking support from its major support line also at the same time it is taking support from its short term horizontal support area. Wait for up trend confirmation on daily time frame to enter, it can be a good risk to reward trade. Also if you have noticed , I didn't posted any analysis in the past few days. The reason for this was falling market. In...
ONGC is trying to break the Bullish Rectangle pattern. Buy above 164, but volume confirmation is crucial. Stop loss at 153. The target is set by XABCD bearish crab pattern and bullish flag pattern. Happy trading :) This is just for educational purposes.