Descending Channel

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GSKASAR GSKASAR TATAMOTORS, D, Long ,
TATAMOTORS: #TATAMOTORS - Downward channel & Rising wedge
43 0 1
TATAMOTORS, D Long
#TATAMOTORS - Downward channel & Rising wedge

TATAMOTORS is trading in a downward sloping channel & is moving towards its upper channel resistance. On a shorter-term frame, it is forming rising wedge. Even though rising wedge is a bearish pattern, by looking at the structure it looks like upside breakout is on the cards which will take the stock towards its channel resistance.

ParamjitMahapatro ParamjitMahapatro EROSMEDIA, D, Long ,
EROSMEDIA: erosmedia looks bullish in short to medium term
89 2 6
EROSMEDIA, D Long
erosmedia looks bullish in short to medium term

In daily, price broke out of descending channel with good volume, also price is pushing above upper BB, and BB is expanding, sign of bullishness. https://in.tradingview.com/x/QSuDovDw/ 1st tgt - 245, 2nd tgt - 257 final tgt - 270 sl - 203

raj3elite raj3elite BERGEPAINT, D, Long ,
BERGEPAINT: Descending Channel on Berger - will it break or make ?
168 0 10
BERGEPAINT, D Long
Descending Channel on Berger - will it break or make ?

Descending Channel on Berger - will it break or make ? Trade: Long Entry - 257.80 Target - 267.50 Stop loss - 249.50

ParamjitMahapatro ParamjitMahapatro SUNPHARMA, W,
SUNPHARMA: sun pharma looks bullish in short term.
153 4 6
SUNPHARMA, W
sun pharma looks bullish in short term.

in weekly, price bounced from downtrend channel support, regular bullish divergence formed here. price should move towards channel resistance.

ParamjitMahapatro ParamjitMahapatro CNXPHARMA, W,
CNXPHARMA: pharma sector should recover now.
86 0 8
CNXPHARMA, W
pharma sector should recover now.

cnx pharma touched the downtrend channel support and reversed. It is giving bounce back, but overall trend is down.

raj3elite raj3elite USOIL, D, Long ,
USOIL: Descending Channel on USOIL
166 0 8
USOIL, D Long
Descending Channel on USOIL

Descending Channel on USOIL and the price will move up, once the pattern get breakout. Trade: Buy above - 49.20 Target 1 - 51.50 Target 2 - 53.85 Stop loss - 47.10

ParamjitMahapatro ParamjitMahapatro ARVIND, D, Short ,
ARVIND: arvind looks bearish in short term
53 0 4
ARVIND, D Short
arvind looks bearish in short term

price reversed from downtrend channel resistance level. it should come down to the channel support level. sl - 386.5, 1st tgt - 355.5, 2nd tgt - 345. Note: this is not a short selling advice, as future trading is quite risky.

ParamjitMahapatro ParamjitMahapatro ZEEL, D, Long ,
ZEEL: zeel looks bullish in short to medium term
135 2 10
ZEEL, D Long
zeel looks bullish in short to medium term

there is a breakout from a downtrend channel with good volume in daily. Also BB is expanding and price closed above the upper BB. https://in.tradingview.com/x/YeXUfXwH/ sl - 503, tgt - 575

Bravetotrade Bravetotrade INFY, D,
INFY: Infy: The Big Triangle and the Range
135 6 10
INFY, D
Infy: The Big Triangle and the Range

We can say that the stock has been trading in a range (between 920 to 970) since June. A bearish channel can also be seen to have been broken for a bullish break yesterday. But the 970 level has been acting as a tough resistance for the stock . This time too the stock tested it and retraced. Only the future price action will show whether the reaction would be as ...

praveen.bhatiya praveen.bhatiya JSWSTEEL, D, Short ,
JSWSTEEL: JSW STeel Short : Descending Channel & Gap
82 0 6
JSWSTEEL, D Short
JSW STeel Short : Descending Channel & Gap

Price seems to be following the descending Channel. There was a gap down red candle 2 days ago. It has tried to fill the gap today but price got rejected at that level so it may provide a resistance and could be used as Stop Loss. Using all this information we can frame a short trade by risking a small amount the high of today and look for a target of lower ...

praveen.bhatiya praveen.bhatiya IDFC, D, Long ,
IDFC: IDFC LONG : Descending Channel Breakout
85 0 6
IDFC, D Long
IDFC LONG : Descending Channel Breakout

IDFC price was moving and forming the descending channel. It has broken the channel thus offering a long trade with small stop loss and good risk to reward ratio. Price can easily climb till the previous range doubling area. I would provide Stop loss some ticks below of last bar on closing basis and look for a target of 58.8. RSI reading of 60, coming out of ...

praveen.bhatiya praveen.bhatiya DRREDDY, D, Long ,
DRREDDY: DRREDDY Long Channel, Divergence 3LR!
82 2 6
DRREDDY, D Long
DRREDDY Long Channel, Divergence 3LR!

The stock price movement looks interesting for a potential long trade. Channel is catching the price movement beautifully and now showing divergence also. The last bar made a 3L-R. One can buy the stock for a target of 3100 stop loss 2920.

dravya dravya CEATLTD, D,
CEATLTD: CEAT - PARALLEL CHANNEL + SUPPORT LINES
65 7 5
CEATLTD, D
CEAT - PARALLEL CHANNEL + SUPPORT LINES

NSE:CEATLTD CMP - 1174.50 You can see the parallel channel and the support lines which date back to previous months. Trade accordingly , Thanks, I hope you like it.

praveen.bhatiya praveen.bhatiya ASIANPAINT, D, Short ,
ASIANPAINT: Channel Trade AsianPaint !
48 1 0
ASIANPAINT, D Short
Channel Trade AsianPaint !

Simple Classical downtrend Channel trade need not any explanation. One can take chance now with stop loss just above the high of today. If works would provide good risk to reward if not there is small risk.

praveen.bhatiya praveen.bhatiya IDFC, D, Short ,
IDFC: Channel InsideDay
53 0 0
IDFC, D Short
Channel InsideDay

The Stock is in downtrend and formed a down sloping channel. Inside Day after the upper line touch may be significant and reverse the short term up move. If it starts trading below the low made on 30.12.16 I would short with stop loss of 54.75.

praveen.bhatiya praveen.bhatiya BANKNIFTY, 15, Long ,
BANKNIFTY: Channel Trade BankNifty
87 1 2
BANKNIFTY, 15 Long
Channel Trade BankNifty

BankNifty is moving in the down sloping channel. RSI is coming out of Oversold area so it may try to touch the other side of it or at least the touch on trend line is possible. One can enter long at this level.

NeeteshJain NeeteshJain TOP NIFTY, 60,
NIFTY: Nifty Downward Trending Channel Setup
230 0 5
NIFTY, 60
Nifty Downward Trending Channel Setup

It is been observed on an hourly chart that the price action is trending in a downward channel where the price action making lower highs and lower lows. In order to break the channel, the price action must move out above 8820 levels until that happens every rise is a good opportunity to sell it.

NeeteshJain NeeteshJain TOP COALINDIA, D, Short ,
COALINDIA: Coal India Breaking Out Channel Pattern (Bearish)
199 3 7
COALINDIA, D Short
Coal India Breaking Out Channel Pattern (Bearish)

The price action breaks out from a trending channel , indicating weakness and bearishness. It shall now reach to Fibs levels targets at 321, 313. Stoploss 336

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