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Cup forming on Kotak bank Chart Analysis:- On hourly TF of Kotak Bank we can see that Stock is making two patterns – Symmetrical Triangle and Cup - where Triangle is already formed but cup is yet to be form. As we know symmetrical triangle is bullish pattern and cup is forming so after a triangle breakout with a good volume we’ll see our expected targets and we can also take a help of indicators to confirmation of trade. • RSI is at 55 levels and also taking support on trendline. • On DMI DI+ line is crossing DI- line and approaching upward ADX line is below 20 which shows low momentum in stock right now but it will also support after Triangle breakout. • Bollinger bands is also giving Bullish signal stock is taking support on 20 EMA line. Entry point- 1756 - 1760 Targets • 1770 • 1783 • 1809 Stoploss – • 1727 Disclaimer - I am not SEBI registered analyst and I can be 100% wrong so do your own due diligence and consult with your financial advisor before investing.
NSE:KOTAKBANKLong
by sakshamjais1
Symmetrical Triangle on Jindal Steel Chart Analysis - In the daily time frame of Jindal steel we can see a symmetrical triangle which is a sign of bullish trend but as we know market is supreme so patterns can be failed, blue arrows on the support trendline shows the re tested levels so possibility of breakdown is more. we can take a help of indicators like:- On RSI which shows the negative divergence and at 48 levels. On DMI indicator DI- line is above the DI+ line and ADX is low means slow momentum in the stock On Bollinger bands which is stretched now and resisting the 20 EMA line which is again a bearish signal. Entry point/ short :- 395 - 398 Target 1 :- 369 Target 2 :- 336 Stop loss :- 419 Disclaimer :- I am not a SEBI registered analyst,I can be 100% wrong please do your own research before investing .
NSE:JINDALSTEL
by sakshamjais1
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