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Descending Triangle

INDUSIND BANK Descending TriangleTechnical Overview of INDUSINDBK: In the below chart, we can see the stock is trading near very crucial support i.e. 1350. On 16th April 2019, the stock has given confirmation of Double Top and from next day has given sharp fall till 1350. From support levels given bounce up to 1670 and made Lower High. Like this stock has started to trade in a Descending Triangle, and yesterday again took exact support from the same level. As per our view, we can buy INDUSINDBK here with the stop-loss of 1345 on a closing basis on the daily chart. The first target is 1500 and if a stock will give break out to Trend Line then it will show 1550-1600-1650.
NSE:INDUSINDBKLong
by Sagar_Rajput
3
NSE IT Sector Looking Bearish with Descending TriangleHi Traders, NSE IT Sector Looking Bearish with Descending Triangle as per chart. Bearish View due to below point : 1) NSE IT Index forming Lower High & Lower Low. 2) NSE IT Index form Descending Triangle pattern on chart. 3) Heavy Weight stock of IT index like TC , Infy looking weak on chart. 4) TCS Faced resistance at higher level & got reversal to downward. Important Support 1) 200 SMA placed at 15380 point 2) Support 1 at 15070 from where NSE IT index reversal in month of July 3)Breach of Support 1 will take index to next support 2 placed at 14170 almost 900 point downward possible. Oscillator Indicator: RSI taken support 2 or 3 times at around 40 -43 level. IF it is breach & 200 sma also breach sure shot short on cards. Happy Learning ); Disclaimer : This is post only for educational purpose . Do your analysis before taking position or trading.
NSE:CNXITShort
by karanwealthape
Gold | Descending Triangle - Short below 1400Descending triangle pattern spotted in Gold,suggesting bearish bias. Though the base of the pattern falls on 1403, immediately below is round number 1400. Hence it is advised to initiate short only if price closes below 1400 with stop above the falling trendline and target at 1380. Manage to book some profit at 1388 if price traverse through our predicted levels. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
TVC:GOLD
by AkhilSuryaFS
3