Chart pattern depicts the situation clearly
1. DRREDDY has been trading in an Ascending channel respecting the levels perfectly .
2. In Monthly timeframe, DRREDDY has given a Breakdown out of the 5 Year old trendline Support (White coloured)
3. Now, it is going through a Downswing(Descending Channel) inside the Ascending channel
Chart Patterns insist me to go with the opinion titled above!!!
1. Divislab has been travelling in a MAJOR Expanding Triangular pattern .
2. It's been travelling in a Descending Channel pattern(downswing inside the major pattern).
3. Soon the Stock may take support @ the major support.(Green line shown in chart).
4. There is also a GAP (occured...
Chart pattern insist me the above titled opinion
1. NIFTY has been trading inside a Descending channel pattern creating lower highs and lower lows
2. Right now, it is at the resistance level(top of descending channel)
3. Day close above 18260 will pave way for the bulls
4. Safe SL can be Day candle closing out of the Descending channel
It is a quick update about Asian paints. Security has made a downward channel. After the rectangle breakout, it made another rectangle pattern.
The 3033 level is an essential support level to keep an eye on. A breakout will intensify the bearish atmosphere. We can expect a new low based on the price action of the second rectangle pattern If...
In 1hr time frame, Nifty is travelling in a descending channel pattern (as shown in chart) .
If the next hourly candle breaks down out of the yellow trendline, we can go short!!
18000 being psychological support, we can increase our quantities after 18k breakdown!!
Seems like Nifty is respecting the channel , Let's see how it moves!!!
Target and SL levels...
Study - Falling wedge and Flag pole correction Breakout
Fundamentals - very good company for export as war conditions are going on.
Please do your own study before taking any trade. This chart is only for educational purpose
SL for this stock breakout may be 285
UPDATE With important levels to trade
View : Long term Bullish
Reason : You can check previous analysis for descending channel breakout.
Current Analysis : Range breakout Trade.
It can be clearly seen that BTCUSDT trying to break range.
Target 45800 - 47200 - 50000 - 50700 - 52600 + + +
Levels has been drawn for you to trade for short term...
it has given flag breakout on daily chart and taken support at 20D moving average.
and trying to break weekly channel.
volume seems to be relatively higher.
if it sustains above 400, then it is going to be a good breakout
HCLTECH has been trading in the narrow channel range from almost last 6 months. The Channel was a descending channel. HCLTECH Was trying to break the channel from last few days- it was trading very little above the edge of the channel. Today HCLTECH has convincingly broken the channel.
Once can LONG HCL with below details:-
Entry:- 980-982 (Trade can be taken...
1. Buy above BO 1195
2. TARGET 1270/1380/1460
3. SL 1080
1. Breakout happened on descending channel
2. Trend reversal started at harmonic PRZ and support level. Now It is in accumulation phase.
3. Next would be uptrend if it breaks the accumulation zone.
Disclaimer: This is educational purpose only.
Please share your thoughts in the comments...
Indian IT Sector is very close to the breakout area.
This breakout from the falling bear channel is also supported by RSI as we can see the Higher Highs and Higher Lows formation.
Look for an entry in fundamentally strong leaders of this sector.
!!! This is not an investment advice and do your own due diligence before investing/trading on any script !!!
JSWSTEEL is trading in Descending Channel from the last 1 year, however we did see a breakout above the channel on 17th Marth 2022. Post that price rallied up till previous resistance of 770 and faced selling pressure which pushed price again inside the descending channel. Currently the stock is trading near channels lower level with immediate support at 520 and...