CEAT - PARALLEL CHANNEL + SUPPORT LINESNSE: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.
Descending Channel
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.
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.
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.
Channel Trade BankNiftyBankNifty 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.
Nifty Downward Trending Channel SetupIt 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.
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
