Sun Pharmaceuticals - Conditional PositionStrong Inverted Hammer on daily chart. Descending triangle. May break on either side. Position to be taken based on where to it breaks.
Weekly chart shows clear indications of a downfall.
Descending Triangle
Dr. Reddy's - Descending Traingle Formation NSE:DRREDDY is at the bottom edge of the descending traingle.
Levels and zones are marked.
Trade accordingly.
Cheers !
Descending triangle - SanofiThe stock is showing strong support at the 4080 levels. The current pattern shows a descending triangle, constantly testing this support level for the past 3 months. The descending triangle is showing exhaustion as indicated by the Accum/Distribution trend. The A/D is a leading indicator that takes into account volume aspect of the trade as well. One should expect a downward movement to the 3800 levels, followed by a possible bounce back. Fundamentally Sanofi is a good stock currently trading at a P/E of 30.
Descending Triangle on BPCLDescending Triangle on BPCL.
Trade:
Short below = 701
Target = 694.50
Stop loss = 707.50
Descending Triangle on Oriental BankDescending Triangle on Oriental Bank. MACD on Bearish and RSI below 50.
NOTE: This chart recommendation for positional, not for an intraday.
Trade:
Short below - 118.60
Target 1 - 116.65
Target 2 - 114.50
Stop loss - 120.60
Risk : Reward => 1 : 2
Reward Points - 4.10
Risk Points - 2
Ajanta Pharma LONG Descending Triangle Nicely formed Descending Triangle has given breakout today. Action Reaction method of Andrews suggest that price can easily reach 1970 - 2000 in coming days. Stop Loss 1780. Good Risk to reward ratio.
Dr Reddys LabsDr Reddys Labs has formed a 'Descending triangle' and is hovering around support (2979.75). Can short it once breaks the support.
Also, can see 'Head and Shoulders'. If it breaks from here, then 2925 looks feasible in few sessions.
ACC - Descending Triangle Breakout It is been observed on the hourly chart that the price action breaks and closes above the descending triangle with long green candlestick, indicating a further strong up move.
Target: 1365
Stoploss: 1335
Risk Reward: 1:1
INFOSYS BREAKS DOWN It is been observed on the hourly and daily chart that the price action breaks below the descending triangle indicating a further move down towards the next resistance levels.
Target 1: 955
Stoploss: 975
Petronet Showing Weakness (Descending Triangle)It is been observed on the daily chart that the price action is forming a descending triangle indicating selling pressure by the big players. It shall further move down. Regards
Target 1: 370
Target 2: 360
Stoploss: 385
Descending Triangle on Nifty - SHORTDescending Triangle on Nifty. On my study, nifty 8060 looking good support and if break the level and as well triangle, to continue the fall till 7935.
Descending Triangle Formation on Tata steel - SHORTDescending Triangle formation on Tatasteel.
Trade:
Short below - 410.50
Target - 405
Stop Loss - 415
Reward Points - 5.5
Risk Points - 4.5
Descending Triangle on Yes Bank - SHORTDescending Triangle formation.
Trade:
Short below - 1178
Target - 1163
Stop Loss - 1189
Reward Points - 15
Risk Points - 11
Descending Triangle on Nifty -ShortDescending Triangle formation on Nifty and showing bearish trend on other indicators.
Trade (Spot Price)
Short below - 8125
Target 1 - 8113
Target 2 - 8107
Target 3 - 8099
Stop Loss - 8141
Reward Points - 26
Risk Points - 16
"Happy Trading"
Nifty 79** or 83** let fed decide everythingIt is been observed that nifty -0.48% is in the final leg of Descending triangle on 15 Min chart. 15th Dec 0.89% opening will be the crucial level for Nifty -0.48% .
If open below 8170 will take it to immediate support 8150 levels which is a crucial support at present scenario. In case nifty -0.48% could not sustain at 8150 will take it to further down of 7910 level. Meanwhile open Above the triangle will take nifty -0.48% towards 8320 levels.
Oh meanwhile dont forget to look into the below one also.
Descending Triangle on IBULHSGFIN - SHORTTrade:
Short below - 711
Target 1 - 705
Target 2 - 698
Stoploss - 720
BOI - BIG MOVE COMING UPIt is been observed on hourly and Daily chart that the price action forms a Descending Triangle by making lower highs and horizontal support. It is indicative of the big breakout and a big move from here on.
HCL BREAKS BELOW DESCENDING TRIANGLE It is been observed on hourly chart, that the price action breaks below descending triangle pattern, indicating a bearish move to support levels ahead.
Target: 740
Stoploss: 770
Nifty Breaks out Descending Triangle It is been observed on the hourly chart that the price action firstly consolidated in a descending triangle and Yesterday it breaks out and closes below the triangle indicated further bearishness in the price action ahead. Now, it shall move to 8000 support levels.
Target: 8000
Stoploss: 8150
Risk Reward: 1:1
Wockpharma Triangle Breakout (Sell Setup)It is been observed that the price action formed a descending triangle and now it has broken and closed below the triangle support levels of 860, indicating further bearishness ahead.
Target: 836
Stoploss: 891
BPCL - STRONG AND POSITIVE (Descending Triangle Breakout)It is been observed that the price action breaks out from a descending triangle on hourly chart, indicated further bullishness ahead. It is also important to note that the price action has broken and closed above the previous resistance levels of 684 which further confirms a further positive and strong move ahead irrespective of markets volatility.
Target: 705
Stoploss: 665
Risk Reward: 1:1
