Disjointchannel
Bearish for HINDALCOWe can clearly see the hanging man (single candle-stick pattern) in the 1D timeframe, which is a signal for upcoming bearish dominance. Moreover, there is a formation of disjoint channel, which is going to open, most likely downwards.
I am new to technical analysis and trading field, So, I need as much support, suggestions and improvements which you all can give on this idea.
Note:
1. Green lines are for entry
2. Blue lines are for exit.
3. Stoploss can be set according to trader's discretion.
Axis Bank - Disjoint Channel patternPrice forming a disjoint channel pattern and trading near the strong support level. Risk takers can enter the market long with tight stop loss below the support level with buffer.
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Natural Gas - Disjoint channel patternPrice formed disjoint channel pattern and currently trading near the important support levels. One can absorb that the price is falling big and retraces to fall big and then again retraces - this is the pattern running through in this script. As the price is trading near the important support level one can wait for the price to move away from this place and initiate the trade accordingly.
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MARUTI on a high stock analysis:Maruti has already made a double top pattern previously followed a continuous move towards up, and formed a curve where buyers and sellers were both confused where the direction of the stock is?
After forming a double top pattern the stock has moved towards down direction.
At current level it is forming a disjoint channel, and the stock is moving near the resistance line. Till now buyers were more active the stock has moved to resistance line buyers may fear to invest and stock price will fall.
We can expect falling price till 6366.
To be in safe side if there will be up break the price will be bullish 7351 above.