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Diamondbottom

Idea purely on technical basis + NewsThis idea is purely basis current price action + volume and news. No other factors considered. NSE:DHANI has shown promising signs of a potential turnaround, indicating a shift in sentiment following a period of indecision or stabilization. The Diamond Bottom pattern emerges amidst a downtrend, characterized by the formation of higher highs and lower lows within a widening pattern. Over time, this pattern evolves as the highs reach a peak and the lows begin to ascend, leading to a gradual narrowing of the trading range. Upon the breakout above the boundaries of the diamond pattern, there's a notable indication of a substantial reversal, marking the onset of a fresh uptrend. Other things to consider at current situation - Volume is increasing - Trading above 10 EMA, 50 EMA and 100 EMA News Dated: March 18, 2024 - Submitted the building plans to the Directorate of Town and Country Planning (DTCP) for approvals of 60 lac sq ft of residential development saleable area in Sector 104, Gurugram located on 8 lane Dwarka Express way. The Project is proposed to be launched in July’ - Submitted the building plans for development of saleable area of 2.6 lac sq ft of office space in Worli, Mumbai. The Project is expected to be launched in August’ 2024. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade
NSE:DHANI
by hardeepssethi
MOIL - Diamond Bottom PatternIt appears that the NSE:MOIL has found its footing, indicating a potential reversal as it breaks out upwards following a period of indecision or stabilization. The Diamond Bottom pattern initiates amidst a downtrend, characterized by the formation of higher highs and lower lows within a widening pattern. Subsequently, as the highs reach their peak and the lows begin to ascend, the trading range gradually contracts. When the price breaches the upper boundary of the diamond pattern, it signals a notable reversal, marking the onset of a fresh uptrend. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade
NSE:MOIL
by hardeepssethi
JK Lakshmi Cement Ltd forms bullish "Diamond Bottom" patternA bullish chart pattern known as a " Diamond Bottom " has emerged on the DAILY-CHART of JK Lakshmi Cement Ltd ( NSE:JKLAKSHMI ) . This pattern is considered a positive indicator, suggesting that the stock price could potentially increase and reach a range between 748.00 and 765.00. The pattern took shape over a period of approximately 71 days, and this duration aligns with the standard principles of technical analysis, indicating when the stock might reach the target price range. The Diamond Bottom pattern typically initiates during a downtrend, as stock prices exhibit higher highs and lower lows, forming a broadening pattern. Subsequently, the trading range begins to narrow after the peak of the highs, and the lows start showing an upward trend. The key moment occurs when the stock price breaks upward beyond the boundaries of the diamond shape. This breakout signifies a significant reversal, indicating a shift toward a new uptrend in the stock's performance. This optimistic pattern is clearly visible on the provided chart and was identified through Trading Central's specialized pattern recognition technology. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade
NSE:JKLAKSHMI
by hardeepssethi
MONTECARLO - Reversal PatternDAILY CHART ANALYSIS OF NSE:MONTECARLO The Diamond Bottom pattern, also known as the Diamond Reversal pattern , is a technical chart pattern frequently used in technical analysis to identify potential trend reversals in financial markets, such as stocks, forex, and commodities. It is a rare pattern and is considered a reversal pattern, indicating a potential change in the direction of the prevailing trend. Here are the key characteristics of the Diamond Bottom pattern: Formation: The Diamond Bottom pattern typically occurs after a prolonged downtrend, signaling that the existing bearish trend may be coming to an end. Shape: The pattern resembles a diamond shape on the price chart, with two converging trendlines – one representing the upper highs (resistance) and the other representing the lower lows (support). These trendlines create a diamond-like shape on the chart. Duration: The pattern usually takes several weeks to form, and it can be seen as a period of consolidation or indecision in the market. Volume: The volume tends to diminish as the pattern forms, indicating uncertainty or indecision among traders. Breakout: The breakout from the Diamond Bottom pattern is significant. When the price breaks above the upper trendline (the resistance line), it suggests a potential bullish reversal, and traders may consider buying. Conversely, if the price breaks below the lower trendline (the support line), it could indicate a continuation of the downtrend. Price Target: To estimate a price target for a bullish breakout, measure the height of the diamond from the highest point to the lowest point of the pattern and add that distance to the breakout point. For a bearish breakout, subtract the same distance from the breakout point. Confirmation: It's important to look for additional confirmation signals, such as bullish candlestick patterns or other technical indicators, to increase the reliability of the pattern. Remember that not all Diamond Bottom patterns result in trend reversals. Like all technical patterns, it's essential to use other analysis tools and indicators to confirm the signal. Traders often use stop-loss orders to manage risk when trading based on this pattern since false breakouts can occur. As with any technical analysis pattern, it's crucial to consider the broader market context, news events, and other factors that can impact the price of the asset you're trading. Additionally, patterns like the Diamond Bottom are more reliable when they occur on higher timeframes, such as daily or weekly charts, as opposed to shorter intraday timeframes. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:MONTECARLO
by hardeepssethi
The Diamond Bottom patternThe Diamond Bottom pattern is a technical analysis pattern that can indicate a potential reversal in a downtrend and the beginning of a new uptrend. It is characterized by a series of higher highs and lower lows, forming a broadening pattern, followed by a narrowing trading range. The same has been identified in daily chart of DALMIASUG Here is a step-by-step breakdown of the Diamond Bottom pattern: Downtrend: The pattern typically starts during a downtrend, where prices are consistently declining. Broadening pattern: Within the downtrend, the price action creates higher highs and lower lows, forming a broadening pattern that resembles a diamond shape. Narrowing range: After the broadening pattern, the highs start to peak and the lows begin to trend upward, indicating a narrowing trading range. This narrowing range suggests indecision in the market and a potential shift in sentiment. Breakout: The crucial moment in the pattern occurs when the price breaks upward out of the boundary lines of the diamond pattern. This breakout above the upper boundary line is considered a significant reversal signal, indicating the potential start of a new uptrend. It's important to note that while the Diamond Bottom pattern can be a useful tool for technical analysis, it should not be relied upon solely to make trading decisions. It is always recommended to use other technical indicators, fundamental analysis, and risk management strategies to support your trading decisions. Note for everyone who came across this reference: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:DALMIASUG
by hardeepssethi
Diamond Bottom Pattern FormationDaily Chart analysis of MAHINDRA LOGISTICS Mahindra Logistics stock price has reached a point of stabilization and is displaying indications of a potential reversal. Following a period of uncertainty or consolidation, the price has broken out in an upward direction, suggesting a shift in market sentiment. This pattern is known as the Diamond Bottom, which initially forms during a downtrend with a series of higher highs and lower lows. Subsequently, the price range gradually narrows, accompanied by an upward trend in the lows. The breakthrough of the diamond's boundary lines confirms a substantial reversal, signaling the start of a new uptrend. Note for everyone who came across this reference: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:MAHLOG
by hardeepssethi
Short Term Trade Setup in TirumalchmBased on recent activity of Tirumalchm, it appears that the price has hit the bottom and is displaying indications of a reversal. This is evident by the fact that the price has broken upward after a period of consolidation or uncertainty. One potential pattern that can be observed is the Diamond Bottom pattern. This pattern typically occurs during a downtrend, where prices fluctuate between higher highs and lower lows in a broadening pattern. As the pattern progresses, the trading range gradually narrows, with the lows trending upwards and the highs peaking. Once the price breaks upward out of the diamond's boundary lines, it suggests a significant reversal to a new uptrend. Short term trade setup targets are clearly mentioned for Thirumalai Chemicals Ltd. Note for everyone who came across this study: This chart is only for educational purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:TIRUMALCHM
by hardeepssethi
Diamond Bottom Pattern: BreakoutNifty has formed a Diamond Bottom pattern. Low of the diamond coincides with Nifty new support zone around 10900. Took support from here and now in uptrend. Diamond's upper resistance line has been broken yesterday suggesting a possible NIFTY breakout. Breakout candle length isn't upto the mark but can be considered in view of a bullish nifty due to positive news surrounding covid vaccines. This week Nifty Target would be around 11400-11450.
NSE:NIFTYLong
by finalyticsbreweries
#14 HDFC - Long for 2 - 3 MonthsNSE:HDFC Reasons being: Diamond Bottom Formation What is Diamond Bottom? - The Diamond Bottom pattern begins during a downtrend as prices create higher highs and lower lows in a broadening pattern. Then the trading range gradually narrows after the highs peak and the lows start trending upward. When the price breaks upward out of the diamonds boundary lines, it marks a significant reversal to a new uptrend. Every Price Action Pattern after breakout provides some Target Range and according to Diamond Bottom: Target range: 2250 to 2275 View negated Below: 1725 #Disclaimer: I'm not a SEBI Registered Research Analyst, These are my views, please consult your Investment Advisor before buying and selling any position. This is just for Education Purpose.
HLong
by p18amanr