In weekly, price broke horizontal support, then it bounced back to retest the broken support, which is acting as a resistance now. also price is at descending channel resistance. also double top pattern confirmed here, it can slide down to 670, 640, 560 levels.
Notes on the chart. "Wish you all a very happy and prosperous new year" Just trade safe and stay healthy. Regards Bravetotrade
It is sometime hard to interpret a chart pattern because of the complexity.I am 23 years old might be having only few years of experience in the field of research but i have been studying technical analysis since i was 18.Today i am going to share some basic knowledge that i have learned in level-1 of Chartered Market Technician(CMT). ''Now some traders or analyst...
Pitchfork has opened up a new possibility of continued upward traction. A Runaway gap to start the week and a strong opening above the median line has opened up possibilities to head towards 10400 then a higher target at 10500. A big move seen in Nifty placing a stop below 10270.The challenege will ofcourse will be the event triggers that will keep the markets on...
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.
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. 1st tgt - 245, 2nd tgt - 257 final tgt - 270 sl - 203
in weekly, price bounced from downtrend channel support, regular bullish divergence formed here. price should move towards channel resistance.
Descending Channel on Berger - will it break or make ? Trade: Long Entry - 257.80 Target - 267.50 Stop loss - 249.50
cnx pharma touched the downtrend channel support and reversed. It is giving bounce back, but overall trend is down.
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.
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
there is a breakout from a downtrend channel with good volume in daily. Also BB is expanding and price closed above the upper BB. sl - 503, tgt - 575
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...
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...
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...
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.
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.