Hero spot cmp 2820
Time frame :- daily
Study :-chart pattern, harmonic
Symmetrical triangle breakout and bullish bat pattern formation with bullish crossover in MACD. breakout on rsi
Good bullish formation
Can give 10 to15% upmove from current levels...
Hdfc Ltd spot cmp 2500
Time frame :- Daily
Study : Elliot wave
Wave 1 :- Wave 1 is first impulse wave of impulse phase,, in this case study first wave consist of 470 points in terms of points and 32% in terms of percentage,, first wave is generally of no confidence movement,, buyers still dont have confidence that the trend will change and the upside impulse move...
Long term bear trend breakout with good volume..
Consolidation in descending triangle..
Entry only on breakout and candle closure on Daily TF..
Resistance lines to be monitored for any reversal.
Targets are as per fib levels..
Chart is only for educational purpose & not a recommendation for buy or sell..
Descending Triangle forming on Daily Chart of BIRLACABLE. Above 123-25 -> 143-47, 160, 175. Support 104, 95, 85, 82-3, 74-5. Volume is low since the last High Volume Candle. Today it bounced back from 104.30. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
Descending Pattern formed in daily chart of Adani Enterprises.
Price breakdown below 50 EMA.
MACD gives bearish signal.
Trend Reversal could occur.
And after all,Market is in negative note.
SAIL is forming a Descending Triangle , RSI has already given a Trendline Breakout , a descending triangle breakout is soon expected.
Suggested Entry:- Above 130 levels
Targets as per Fibonacci Extension:-
The stock has shown breakout of the declining pattern of descending triangle, can be bought for targets of 1450 and 1500, the next 2 resistance zones.
P.S: This idea is for educational purposes only and should not be construed as an investment advice.
👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa...
Catching the pattern before it is formed is of key importance if you trade on technical analysis!
Descending triangle and head and shoulder in 15 min time frame
inverted head and shoulder in longer time frame
these gives multiple confirmation for the short signal on colpal