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Descending Channel

DRREDDY INTO BEARS WARD ???!!!!Chart pattern depicts the situation clearly REASONS 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 4. Right now in Daily timeframe, it is Consolidating tightly in form of a Rounding Top . 5. Target & SL levels mentioned @ chart. Safer SL - Day close above 4500 Let's wait and watch how it moves!!!! Note - Just Sharing my view....not a tip nor advice!!!
NSE:DRREDDYShort
by mmjimm
DIVISLAB Down to FILL GAP ???!!! Chart Patterns insist me to go with the opinion titled above!!! REASONS: 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 in Aug 2020) ....which too can act as Support!!!(thus gap can be filled.) SL- Day candle closing above 3770 Target - 2900 Let's wait and watch whether its going to take Support or Break it!!!! Note - Just sharing my view ....not a tip nor advice!!!!
NSE:DIVISLABShort
by mmjimm
NIFTY Ready for a Down Swing move ??!!!Chart pattern insist me the above titled opinion REASONS 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 5. Target levels mentioned @ chart 6. In hourly time frame , Head & Shoulders pattern is evolving(right shoulder in formation) 7. Better to enter after the H&S BREAKDOWN!!!( BELOW THE BLUE TREND LINE)(ATTACHED BELOW) 8. In addition to the above stated , BEARISH HARAMI(JAN 18 AND 19 DAY CANDLES COMBINED ) adds more to the PROBABLITY OF DOWBN MOVE!!!!! Bank Nifty too travelling in a similar descending pattern (shown below) Let's wait & watch how it moves!!!!
NSE:NIFTYShort
by mmjimm
2
Can We See A Bearish Trend In ASIANPAINTS?Hello traders, 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 support is breached. Bulls can't enter without a clear breakout of the downward channel. You will be notified when it reaches my level. @Money_Dictators
NSE:ASIANPAINT
by Money_Dictators
NIFTY moving in a DESCENDING CHANNEL Pattern ?!!!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 mentioned @ chart!!! Note- Just Sharing my view...not a tip nor advice!!!
NSE:NIFTYShort
by mmjimm
[Positional] HCLTECH Long IdeaHCLTECH 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 now) SL:- 913 (Ideally the SL should have been placed at 880-881 range i.e. the channel low, but am placing the SL at the mid of channel) Target:- T1- 1053 T2- 1116 T3- 1213 Target can be achieved within next 4-6 months. Cheers, Santosh
NSE:HCLTECHLong
by Santosh_A_Chavan
BREAKOUT IN IT SECTOR 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 !!! !!! This post is only for educational purposes and not advising anyone to trade on behalf of this trade !!!
NSE:CNXITLong
by ironscar_11
Will DEEPAK NITRITE BreakOut or BreakDown ?DEEPAK NITRITE has been trading in Descending channel for the last few months. However, it is forming a Flag and Pole pattern as per weekly/Monthly charts. The stock has been trading near the channel highs and resistance levels, if it breaks out from these levels, it's likely to reach 3000 levels again. Cheers! This is as per my Analysis. Feel free to share your view about this. Please do your analysis before trading/Investing. Happy Trading
NSE:DEEPAKNTR
by jayaprakash99