EICHER MOTORS LONGDaily chart of Eicher motors shows double resistance breakout plus double bottom formation
Auto Sector shows breakout too
Overall market seems strong till 17620 levels atleast
Can enter @2570 after a healthy retest with target around 2743
Main strict SL @2546 closing basis as there is chip shortage going on in auto sector.
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Double Bottom
MUTHOOTFIN - Double Bottom, Morning Star, 200EMA support The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
Trade setup is explained in image itself.
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.
IOTEX SHOWING DOUBLE BOTTOM BUY SIGNFRIENDS IOTEX take a long same support and making double bottom pattarn this is good sign of buy and take some good profit in your portfoliyo but always remamber SL is very must and the risk reward ratio is 1:2 and as you much and take risk is your own anlaysis thank you and god bless you
LTI - already broke the ascending triangle - where will it go?LTI _FSP
LTI has already broken the ascending triangle and the W formation is also in completion. will the price give a break out or will the price will come back down again? what are your thoughts?
let me know in comments
Nifty - Emerging with Double Bottom Chart PatternHello Everyone,
Let's have a look at the technical chart of Nifty, can you see a double bottom formation on Nifty Charts? Do you think Nifty reversal started form here?
Yes I hope it is perfect double bottom chart pattern and the break out point of double bottom comes at 17470 & we can expect Nifty to reach at 18140 levels and further more.
The contents updated here are only for Educational Purpose.
Short term Analysis for Nifty PharmaNifty Pharma shows Double bottom in the daily time frame. Just to double confirm, even RSI is showing positive divergence. The chart is indicating a medium term bullish. SunPharma being the dragger, you can go through the chart of sunpharma. Also, suggest any good stock in pharma if you have any.
Mindtree (Hourly) - Double Bottom Chart Pattern Mindtree (Hourly)- Double Bottom Chart Pattern
Current market price - 4653
Target - 4893
Bollinger band is challenged on the upper end
RSI is above 60
Stochastic 14,3,3 is in positive crossover
ADX is above 15 and +DI is above -DI in Directional Movement Index
On the daily tide, all indicators / oscillators are positive too
MACD of the daily tide is uptick
Elliott wave count
Price is in 3rd wave in hourly timeframe
Price is in 5th wave in daily timeframe