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Countertrendline

Zee Media Corporation - Triangle Breakout on Monthly Time FrameThe stock is forming a strong triangle breakout on the monthly time frame, with solid support being held at the green trendline, which has served as a foundation for the price action. A second elevated green trendline shows that buying momentum has accelerated recently, indicating stronger demand. The red line marks a significant counter-trendline, while the white dotted line highlights a hidden resistance, which could offer short-term resistance. However, a breakout above these levels could lead to a powerful move upward. One of the most notable features of this chart is the cluster of increasing volumes over time, indicating accumulation. These volumes suggest that market participants are stepping in with conviction, and the steady rise in volume reinforces the potential for a continued bullish trend as the stock approaches key resistance levels.
NSE:ZEEMEDIALong
by Averoy_Apoorv_Analysis
2
GNA Axles Ltd: A Bullish outlookGNA Axles Ltd has exhibited a significant descending trend over the past 12 months. However, some technical analysis points suggest a potential bullish reversal, supported by increasing trading volume and key pattern formations. The trading volume for GNA Axles has surged to five times the 20 MA volume. This substantial increase in volume is a critical signal that investor interest may be returning, indicating potential momentum shifts in the stock's price action. A breakout above the counter-trendline on the daily timeframe is a pivotal signal to observe. This breakout not only indicates a shift in momentum but also signals a possible transition from a bearish to a bullish phase. Additionally, the presence of a hidden parallel trendline reinforces the likelihood of an upward movement, providing further support along the lower low. The daily and weekly Relative Strength Index readings are currently above the 60 threshold. This elevated RSI level often denotes strong buying pressure and suggests a significant potential for price reversal. Should these indicators maintain their trajectory, they could further affirm the anticipated bullish reversal. Considering the current analysis, GNA Axles may aim to reach the previous HH price level of ₹583 . This level, being a notable resistance point from the past, could serve as a target for potential bullish movements. It is prudent to implement a risk management strategy by placing a stop-loss order below the lower parallel trendline. Disclaimer: The information contained in this technical analysis report is intended solely for informational and educational purposes. It does not constitute financial advice, and you should always consult with a qualified financial advisor or conduct your own research before making any investment decisions.
NSE:GNALong
by NiftyNotions
All target done... counter trendline setup with patterntrade setup- counter trendline with pole and flag pattern or consolidation near counter trendline There are four touches which is enough for validation of a counter trendline to trade whenever there is breakout. If you see at second time touch (6 april to 29 april) , there is pole and pattern but it failed to breakout. Now, 4th time touch to counter line & gave breakout & all targets done. Anybody can use this setup for upcoming trades in other script. Lets start to find more trades Happy Swing Trading!
NSE:PGILLong
by mahhisingh
trendline and triangular breakout Sorry for the late upload .. there is counter trendline with 5+ touches and at the bottom a triangular pattern gave a breakout. So right now it has already gone 7%++ ...there is no entry at this level. you can use this combination of both (counter trendline & triangular pattern) Who are already in this trade they should book their profits at these levels... T1- 165(15%) T2-190(40%) 220 is weekly time frame huge resistance..so boked early as possible
NSE:LOVABLELong
by mahhisingh
An investment idea in PVR on NSE (INDIA)This is weekly chart of PVR with CMP @ 1404.80. This scrip is looking good for long term investment because of following observations: 1. Price has been following a trend with multiple support on trendline drawn on the chart since July 2012. 2. Counter trendline has been drawn as shown on the chart. However, counter trendline has not been decisively broken but overall tendency is indicative of clear upside bias. Moreover, price has opened this week above counter trendline and sustained till now. In order to make right entry to minimise the effect of fake b/o, it will be prudent to enter above 1441. 3. MACD clearly shows bullish view. 4. Price is trading above EMA20 & 50. 4. Stop (initial) can be considered at 1226 (below swing low) and ride the trend ( review the trailing stops from time to time as price goes up).
PLong
by DEVERAMA
LONG in ICICIBANK on NSE (INDIA)This is daily chart of ICICIBANK on NSE (INDIA) with CMP @ 353.10. It looks a good scrip for long trade based on following observations: 1. Price is continuously rising after taking support at around 257 which is marked as MAJOR SUPPORT as price has taken multiple supports near this price. 2. Counter trendline has been drawn on the chart which was decisively broken on 26th Oct 2018 with substantial rise in volume. 3. Price has taken multiple support at key retracement level of 50% as shown on the chart and then rising and ultimately broke out decisively as mentioned in preceding point no.2 above. 4. A trendline has been drawn on the chart indicating supports using arrows which can be used to trail stops and ride the trend. 5. RSI is at 63 which indicates good momentum. Hence, it looks a good long trade with initial stop @ 319 with target of 452 as shown/marked on the chart. Happy trading...
NSE:ICICIBANKLong
by DEVERAMA