Double Bottom
Double bottom support seems could reverse
It's has posted not so great quarterly result due to raw cost increase, so the sharp downside movement in stock was noticed.
It has been in news past few days for the 20 year long term deal with other listed Fertiliser Company.
Inflation seems to be peak and ready to bites the dust for the moment.
Having said that, Positional View on the stock would be Long with Target 700/720/750 in coming days.
Keep the SL : 641
Duration upto 15 days.
CEAT LTDCEAT LTD:- double bottom pattern breakout. keep on radar.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
LARSON & TOUBRO INFOTECH MID TERM SWING #LTI given double bottom break out on weekly time frame and also making harmonic bat pattern. buy when it give retest.
Buy around 5000
TGT : 5550, 6100
SL : 4850 DCB
Disclaimer :
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
MINDTREE LIMITED MID TERM TO LONG TERM SWING#MINDTREE LTD Falling wedge pattern breakout & Double bottom pattern breakout on weekly time frame and also posted good quarterly results, good fundamental stock. wait for retest and good entry level.
Buy around 3575 to 3630
1st tgt : 4000
2nd tgt : 4480
3rd tgt : 5000.
Stoploss 3470 on day closing basis.
Disclaimer :
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
RELIANCE - Available @ great Risk : Reward (Swing Trade)The analysis is done on daily TF hence price may take days to a few weeks in order to reach the targets.
Trade setup is explained in image itself.
At this position, one can get great Risk : Reward as the SL is quite low as compared to Targets.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
DOUBLE TOP TUTORIALEducation
Double Top chart pattern
A double top chart is a classic bullish reversal, which signals end for bullish rally.
This chart pattern help traders to exist their trades if they go long on certain instrument and get prepared for selling opportunities after the break of neckline.
This chart pattern should only be considered when there's existed bullish rally on a timeframe.
And sell trades should strictly be taken only after the break of neckline.
Traders can target next demand zones and stop loss above neckline or previous resistance.
Reliance Double Bottom BreakoutHello Every one ...
So Now Today We Share Analysis Of Reliance With Proper Price Action based..
As Per Chart pattern Reliance has Given breakout Of Double Bottom.
If Sustain Above 2440 level Than We can see Good upside Movement In coming days ..
TRADE WITH YOUR RISK MANAGEMENT
Few Most Profitable Chart Patterns1) Double Top, a Bearish reversal chart pattern
It is a trend reversal chart pattern formed after good bullish price movement (a continuous upward price movement for a good duration) where the upward price movement loses its steam (formed a first top) and it retraces a bit (to neck line or mid point).
Then again it moves in direction of original trend and reaches the first top level there by forming second top . It again cannot move above first top and start moving to neckline (NL).
Once the neck line is broken its fall in price is steep. There starts a downtrend.
Target
The Height of the tops will be taken as a target.
Stoploss
It is recommended to keep a stop loss of 1.5% above the neck line.
2)Double Bottom, a Bullish Reversal Chart pattern
It is a trend reversal chart pattern formed after good bearish price movement (a continuous downward price movement for a good duration) where the downward price movement loses its steam (formed a first bottom) and it retraces a bit (to neck line or mid point).
Then again it moves in direction of original trend and reaches the first bottom level there by forming second bottom . It again cannot move below first bottom and start moving to neckline (NL).
Once the neck line is broken its rise in price is steep. There starts an uptrend.
Target
The Height of the bottoms will be taken as a target.
Stoploss
It is recommended to keep a stop loss of 1.5% below the neck line.
3)Cup & Handle, A Bullish Continuation pattern
It is a pattern where the Price movement of a chart resembles a teacup .
It consist of two parts:
1) A cup:
A cup formation happens when the price moving in a uptrend shows a pull back followed by a consolidation period which makes the bottom of the cup and finally the reverse back to upside continuing the uptrend.
Usually the pattern looks like a 'U' to round bottom. The deeper the 'U' or round shape the reliable the pattern is.
2) A Handle :
After the formation of right highs of a round cup, there is a pull back before continuation of the trend which forms the handle of this pattern. It is formed in the right hand side of the cup.
Entry:
A Neckline breakout supported by huge volumes is the confirmation of this pattern that the previous trend has resumed. Trade should be taken only after the neckline Breakout
Target :
The height of the cup will be taken as a target.
Stoploss:
Stop loss should be placed under the handle low