Double Bottom
CENTURYTEX : Very Good Risk Reward Swing Trade OpportunityNSE:CENTURYTEX has broken out range with good volume and has now retested the breakout level. The downside candles are narrow with less volumes indicating that bears are weak and bulls will take over. The Risk Reward is excellent at CMP.
DISCLAIMER : This is not a call. The analysis shared is just for educational purpose. Please do your own analysis with proper risk management before taking your trade. Cheers! Happy Trading!
Double Bottom Pattern in GLANDPHARMAGLANDPHARMA has formed a Double bottom pattern at the support level, so there are good chances it will rally from current levels.
Cheers! This is as per my Analysis. Feel free to share your view about this. Please do your analysis before trading/Investing.
Happy Trading
Levels for - 09 Sep 2021EXPLANATION : This is a 15 Min time frame chart of NIFTY , It has formed a Double Bottom Pattern , W pattern . If gave a strong breakout and broke its supply level with volumes and retest the same , I am bullish on NIFTY . If gave a Rejection from supply level its kind of a Right hand shoulder of Inverted head and shoulder pattern .
CIPLA Bullish ViewBullish double bottom pattern along with upside breakout in CIPLA, Add Cipla at 906 to 910 levels. Enter only if it retests, Trade with strict of stoploss of 880/875. Trade is risky as Head and shoulder pattern is also there but I believe It will trap more traders before going down. Also stock has given the breakout of 50 & 100 ema as well. Let's see
Note: This is strictly for education purposes. I'm still learning the concepts of stock market. I'm not responsible for your profit or loss. Do your own analysis before taking any positions
SIMPLE AND EFFECTIVE TRADE SETUP ON VARUN BEVERAGESFew pointers about my analysis of VARUN BEVERAGES :
1.The stock has been in a continuous uptrend with lots of bullish continuation patterns ,which is good for healthy upward trend, higher the no. of valid patterns better it is.
2.The stock just broke out of an ascending triangle pattern , which is again is a continuation pattern.
3.Volume spurt : breakout supported by decent volumes, supporting bullishness.
4.RSI breakout on daily chart and trading above 60.
Short term view : Bullish
Timeframe used : Daily
Target : Use trailing SL or 50day MA
Take away: entry has not yet been triggered , ideally one should wait for retest to enter.
Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing any investment or trading.