ErosMedia : Simplest Ever - Double BottomSimplest trade setup, Double Bottom & RSI divergence so logically upside.
Double Bottom
AmaraRaja Battery : Will you last for 30 points ?!We have a dual setup here in Amaraja, you can either go on higher timeframe to find Double bottom entry, or the channel breakout entry on pullback and aim for trade continuation of Double bottom targets. You can do it either way but what matters is whether your plan allows you to take that kind of risk.
If those swings happen as predicted we will be having a range channeling on daily breakout, the only worrisome point is that wick piercing downside bcos we don't know whether its stop hunting or market intention, unless chart evolves. But just for a wick, we can't scrap our tradeplan. So if this one suits your plan n risk, go for it !
NATIONALUM double bottom breakout NATIONALUM price action has made a double bottom breakout pattern in weekly chart, at 69 one can accumulate at the 63 to 65 zone for target of 77 and 115 stoploss below 60.
Jain Irrigation Double Bottom SetupGo long if the setup forms successfully.
Great targets and Risk/Reward.
Plus, fundamentally strong company, aggressive expansion, good monsoon forecast will also benefit leading to the formation this setup.
Good Volumes.
Nifty : Odds in favor of Shorts...Well, atleast I believe so. Probably the retest of trendline around 9430's to 9450's zone then Nifty will move down further to 9350's zone, but may happen today or 2mrw . Moreover, I'm expecting that double bottom to be failure one, bcos of bearish sentiment... chill..chill...relax.. Bearish sentiment on very short timeframe. We can wait for further push up by Nifty to upside and on Bearish confirmation, take shorts aiming for first targets around 9400's & further down on break of support at 9400's.
But, what if Nifty didn't retest the trendline ? Well, very simple : No Trades for the Day.
Look for someother potential setup then, which is in your trade plan... probably we may get another setup on break of support, so always wait for Nifty to give you the trade setup.
Even if it goes down by 100points we won't take the trade if that doesn't suit our Plan,No chasing - Moral of the Story !
Happy Trading :)
BSwing : Vedanta, will you go as planned ?!i) Enter only on Bullish confirmation in the zone, else trade is invalidated, Not blind buy
ii) Either Book Partial profits or trial stops after 245's zone
iii) Its 4 hrs, so patience is the Game
Auro Pharma - At SupportDouble Bottom on Daily chart .
RSI at 31.45
Near long term support.
Buy for target of 675
Stop loss below 600
Infratel Long Double bottom Action/Reaction TradeThe pattern is simple and clear so doesn't require much details. After breakout it is retesting from the above which could be an opportunity to go long with small stop loss. It has also broken the down sloping trendline.channel and trading above it convincingly another confirmation for a trend reversal. One can look a target of 357 - 370.
Voltas double bottom - go long target 401 SL 380Voltas has formed double bottom and has crossed the neckline and is about to complete the double bottom with a target of 401-403.
Bottom 1 : 18-Nov-2016
Bottom 2: 27-Dec-2016
Double Bottom Reversal BlueDartThe stock has given classical double bottom breakout that too with divergence. The simple pattern offers a long trade in stock by providing suitable stop loss. Prices can easily climb to 5300 in coming days.
Its raining Double bottom's - Heidelberg cementAfter Nifty and Titan completing successful double bottom's as per my earlier post's , it seems to be Heidelberg Cement's turn to follow suit.
Perfect double bottom pattern formation although still not confirmed on closing basis. It made a high above the peak of 123.45 . RSI & MACD both showing postive divergence on daily charts make this stock to be put on radar tomorrow.
Target price : 139
Stop loss : 112
Double Bottom Breakout Siemens!The stock has broke double bottom neckline thus it seems it has formed the base and wants to go up. One can buy it here or on dips for a target of 1240. Simple patterns works mostly.
Bullish weekly divergence! Screaming BUy!Well Infy has now made a double bottom on the weekly charts with lower lows on RSI and MACD-H.
On the daily Chart also it has given a BUllish Divergence. So guys Load Up on Longs ONce 950 crosses 980-1000 will come in no time..I expect good move in Infy tomorrow and the coming week.
Double bottom setupstock has very sharp move upside.so we can increase Position size with minimal SL of 54.
Or reduced Position size with SL 45. choice is yours.
Titan confirms Double bottom - Reversal of downtrendAs we see Titan confirmed Double Bottom pattern by closing above 325 level. Also there is positive divergence in RSI & MACD histogram indicators at the two bottom levels namely at 303 & 308 confirming the reversal of downtrend. On balance volume also rising. It achieved target price of 350 levels as per double bottom pattern calculation. Next Target price is 375 . Lets see what the pattern unfolds in days ahead
Nifty confirms double bottom - but is it enough ?confirmed Double bottom formation as it broke above 8274 levels on Intraday basis. . It is currently facing resistance at 8290 levels which is the downward trendline resistance. A close above 8300 would be a positive sign for the Index
Also note , MACD histogram and RSI indicators are showing postive divergence which is a Bullish sign.
Any break above 8300 would attract high volume buying in the future index . Analysis is done on NSE spot index. Target price would be 8500 in the futures market
Next Long Entry for NiftySince Nifty has formed a double bottom and trading above it we can conclude that downfall has been arrested and it is in the mood of going up. Point is where is the next entry for long? I would watch the area around 8240 - 8260 for price action at that level.
ITC double bottom - go long target 257 stop loss 215ITC has formed double bottom .
Bottom 1 : 222 @ 24-Nov-2016. Bottom 2 : 222 @ 26-Dec-2016.
Go long with a stop loss of 215 and a traget of 257.
Expected timeline for traget : 13-jan-2017 to 16-jan-2017.
Double bottom - ITC , go long , Target 257 , stop loss 215ITC has formed double bottom.
First bottom: 24-Nov-2016
Second bottom: 26-Dec-2016.
Expected target : 257
Stop loss: 215
Double Bottom/Channel Breakout Long The stock has formed double bottom, gave breakout now retesting from above. One can enter long now with reasonable Stop loss. Pattern Target is 353.80 however there is resistance at 341.40 so let's see which one it achieves. Even for the lower target risk to reward ratio is good.
Nayak nahi khalnayak Nifty !Its not Me guys, Nifty is that and Nifty will do that, No, not Myself ! So yesterday when we completed the day we concluded with double bottom & Gap up which just happened now and as of now I can't assure whether that double bottom will fail & Nifty will move lower ( insync with breakout yesterday triangle) or turn up and make triangle break as false one. Anyway we are looking at broader picture now and have few scenario's to share with as I don't want to miss any points I have numbered it for you as 123 in chart ( Its not elliots, just numbering )
(1) The Triangle breakout, its still valid breakout, it will turn as false only if the bullish move happens till then its valid break to downside. If triangle works to down on hourly we will get Double Bottom check the above chart. If you are lucky enough you can trail stops in Nifty and head straight to 7900's breaking 8k's , only if we are lucky.
(2) The above double bottom is forming at 8k's zone, we have been expecting this 8k's to 8070's for quite sometime and 8k being psychological number too. (a) Now if there is lot of bull power waiting here just to initiate the bull run, so I'm not expecting straight move down to 7900's. Nifty will touch 8k's zone and jump back to 8400's for expiry. (b) Now bears might have turned lazy & will be slow to break 8k, unless some trigger is there. Only if there is trigger straight 7900's possible.
(3) The 8400's , its first serious resistance for Bull's and Bears are protecting 8500;s, showing no mercy at bulls. When we reach that zone Bears will strike back ( I expect ) and take it to 7900's, which will make double bottom on hourly as failure one. So till 8400's its fake bull run - Just Fake it !
Why I'm so curious about 7900's ? I have a reason, will explain as separate post over the weekend. We may range today if 8k support is going to hold. As of today,
if you are intra Go with yesterday triangle's post on Nifty or if you are positional wait n watch price action around 8k's n decide whether double bottom works or fails.
Nifty : Not a One-Day,Its Test Match Now ! Yes ! Nifty gonna be a test match which is going to test your patience in coming days. Markets opened already, but I'm not altering the analysis which I did for the day, posting it out as it is I did in the morning,No Changes.
Hey Guys, Note - this is not single day post, Refer this for coming days probably next 3-5 days. It will be valid for 3-5 days.Wednesday(Nov 9) being vital here.
We are looking at 3 vital zones for Nifty (i)8470's zone (ii) 8550's zone (iii) The zone in-between. Now lets explore each zone & what it says about our Nifty !
(i) 8470's zone : Nifty will test n tease us many times near this zone today. With every retest bounce back few points up, may even complete our first half of Double bottom to reach 8500's-8520's. Incase of Nifty breaking this zone with swift move today or Monday (include Tuesday too), it opens up few other interesting scenes with US news events. If it happens today Superb ! I will explain the scenes later after 8470 is taken away bcos its like pandora box, lets not open now.
(ii) 8550's zone : The next important zone which is above Nifty & act as immediate resistance for upside potential in short-term.There can be other patterns forming to reach this 8550's if we some action in next 2-3 trading days. Here also News acts as big trigger depending on euphoria surrounding the markets 8600 Gap will be filled. Why ?? Bcos we know our Gap theory, atleast for past 6 months I explained it quite often.
(iii) In-Between zone (8470's - 8550's) : One word - Range ! So scalp as much as you can if you want to else take a day off enjoy your life,watch a movie, Go around the city. This zone is direction-less & clue-less region like our human lives trapped on surface of earth which is between Sky & under-ground. We roam around directionless searching something, same-way Nifty will be running around in this zone (8470's-8550's) without any proper direction.
We have ABCD pattern completion also, probably will act as gap filler of 8600's - I don't know ! But what I know for sure is we have analyzed pretty much everything for Next 2-3 days and what Nifty will do based on various scenario's. Depending on those check back with your own analysis & Decide to trade or scalp. Few get confused in curiosity of Learning, that they combine every strategy with everything available - don't do so ! Keep things separate & clear, it will help you to get better understanding, Don't combine every strategy available.
We know Sell the News, Buy the Fact statement. We have witnessed it in one of my earlier posts few months back but I forgot the post name. But I prefer to make My stand clear - " News is Noise, charts will show us whats coming Next except rarest scenario's"
Nifty Test Match is ready to Test Our Patience !
Divergence of MACD silent reversal signal BHARTOARTL longThe stock is in downtrend making lower lows. IT has given first reversal signal forming double bottom and also divergence at this level in MACD/RSI. One can enter the long trade now as the risk is low. How far it would go only time would tell but 325 seems quite reasonable expectation.
