INFRATEL | W Pattern and about to take trend line support (18%) INFRATEL | W Pattern and about to take trend line support. Can see 18%
CMP : 177 (Buy range 173 to 174)
SL : 170
Target : 205
Double Bottom
BULLISH CYPHER & Double BottomNSE:KEI has taken support around the Harmonic PRZ & Trend has reversed.
After a sharp fall, price formed a Double Bottom Pattern & near Breakout.
If it breaks above 350, expecting a 10% up movement
Banknifty - Was expecting a breakup - went ulta !!Was expecting the price to break the triangle pattern and move further up to get rejected from 30000 levels but went ulta !! cutting the triangle down infact deep down !!! I set an alert to take trades after that lines to break :)
Now price is almost in the process of making a double bottom and it will open gap up for tomorrow . . . lets wait and see.
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NSE: HAVELLS - A SUPPORT OF DOUBLE BOTTOMNSE: HAVELLS has been in an uptrend since June-July 2020 after a heavy fall due to COVID-19. The DOUBLE BOTTOM formation is observed in the daily and weekly charts. The analysis has been done from macro to micro timeframe (Monthly --> Weekly --> Daily). The current view on the stock is to go long with given levels.
I suggest you do your own analysis before investing. This is my perspective based on my understanding.
Trade Status = ACTIVE
Ready to breaka double bottom base of 5 weeks.
its a 2nd stage base so buyable.
you can call - undercut and rally or wyckoff's spring
its near all time high.
Dabur India Ltd BuyDobour india about to break trend line. Already double bottom formed near resistance.
CHEMCON - Investment/Trade SignalCHEMCON was one of the bumper listing IPO but post opening it was under heavy sell off. Now the stock has formed double bottom and cleared the nearest price action and gave a breakout. Go long.
Varroc Bullish Bias Target 330 Looks like W bottom taken Support
Bullish Bias
can be bought at CMP levels
Stop Loss 270 levels
Target 1 - 330
Target 2 - 360
Double bottom - still 163 above is good.Price made a double bottom at 140 level and went up by 13 points last trading day. Still 163 above is the buying level as discussed previously but when you see a double bottom one can risk with small stop loss and definitely you will be in a good position when it reaches 163 !!! Think about it.
INTRADAY TRADING PSYCHOLOGY (near LONG TERM SUPPORT/RESISTANCE)I come across many times when people fall in trap when they see breaking of long term support or resistance in intraday by merely seeing on small timeframe (TF) like (1-5 mins).
I suggest those friends to wait for the confirmation of such breakout on higher timeframe like 15-30 minutes atleast.
In this example I would like to make you understand this psychology and how you can make most of it in intraday trading.
Bharatforge started falling right from the beginning and broke its long term support at smaller TF and you can see how they trapped the bears.
(You can see many examples like this on this day like which I traded in PEL (Horizontal support 1300) and BPCL (Trendline support) We could have initiated a countertrend trading when it came above the support but that I will not recommend if you are not pro.
Instead, bharatforge formed a beautiful double bottom at this support (bullish piercing candle pattern as well). So, this trade becomes high probable with first target to swing high. SL to be maintained below the support.
So, in intraday FIND SUPPORT / RESISTANCE and FIND PATTERN. This way you can make consistence profit.
Thank You. Happy Trading
Balkrishnan Industries Still it is not very clear but my opinion is that BALKRISIND is forming an double bottom pattern and may bounce back giving a strong up move,
Lets see, and hope for the best
BREAKED a big double bottom & bounce back,It's time to LONG!We can do SWING TRADING here, It also breaked ASCENDING TRIANGLE in 45-minutes
