In today's session, the last 15 minutes candle gives breakout of descending broadening wedge pattern in HDFCBANK. After this breakout expected 1672+ target in HDFCBANK. We can go long above 1620 with a close stop loss in 1605 for this target. Here we can achieve 1:3+ risk-reward in this trade.
COAL INDIA - Descending broadening wedge pattern formation at monthly time frame
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EURPLN had been consolidating within the Descending Broadening Wedge Pattern, since 9th November. After testing the upper trend line for the fourth consecutive time, prices registered a breakout from the pattern. In addition, the bullishness in the pair is being underpinned by the stochastic indicator, where the %K line (sky blue line) is moving above the %D line...
USDSGD has been forming lower highs and lower lows within the Descending Broadening Wedge Pattern, since 9th December. After testing the upper trend line for the fourth consecutive time, prices registered a breakout and have sustained above the pattern. Moreover, the formation of Three White soldiers candlestick pattern, confirms the potential uptrend in the pair....
IGL has broken slow out of a descending wedge. The stock has had a considerable fall after recovering beautifully post COVID. Now, it seems like the stock has slowly begun it's up move again
The Stock has consistently followed pattern breakouts/breakdowns prior to this. (As shown in the chart).
See a long above 420 (safer 425) for the next Fibonacci targets...
The Stock has nicely formed the "Descending Broadening Formation" which could be used for trading. How to trade it : if it breaks the upper horizontal line and stay there for some period one can go long. If it gives false breakout and come back immediately to the the upper line one can short the stock. Good Luck