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Double Bottom

Technical Analysis for Bector Food Specialties Ltd. (BECTORFOOD) Trade Type: Swing trade for 3-12 months Key Highlights: Near strong support zone Double bottom pattern indicating potential reversal Targets marked based on technical levels Stop Loss (SL): ₹1499 for risk management 📌 Disclaimer: This analysis is for educational purposes only and not investment advice. Please consult a financial advisor before making any trading decisions. #BectorFood #TechnicalAnalysis #SwingTrade #DoubleBottom #StockMarket #SupportZone #TradingStrategy #RiskManagement
NSE:BECTORFOODLong
by hunterhunt777
Sanofi probable trade set upPrice action analysis for Sanofi India (SANOFI) indicates a bearish trend in the short term. The stock is currently trading below its 20-day Simple Moving Average (SMA) and is in the lower range of its Bollinger Bands, suggesting downward momentum. The price has broken a strong support level of 6257, which could lead to further downward movement. Key price action indicators: 1. The stock is trading near its recent lows, reflecting strong selling pressure. 2. The current price (as of December 20, 2024) is 6,205.95, significantly below its 52-week high of 10,524.95. 3. The stock has broken its weekly support, indicating a bearish outlook. Technical indicators supporting the bearish trend: - ADX (Average Directional Index) is showing a strong sell signal. - MACD (Moving Average Convergence Divergence) has generated a strong sell signal. - The Ichimoku cloud is red, with prices below the cloud, suggesting a downtrend. - CCI (Commodity Channel Index) has generated a strong sell signal. However, it's worth noting that the RSI (Relative Strength Index) is generating a buy signal in the short term, indicating that selling might be slowing down. This could potentially signal a reversal or consolidation in the near future. Volume analysis shows that the stock is falling with high volumes, as it's trading below its Volume Weighted Average Price (VWAP) of 6385.21. This suggests that sellers are currently more active in the market.
NSE:SANOFILong
by KamalKJoshi
RVNL Forming Good Patterns. Ready for an upmove?RVNL At a support level and forming multiple patterns. It offers good RR at this level. - Double Bottom -Cup & Handle -Trendline Breakout. -Candles were narrow right before a breakout and volumes were dry during the pullback. Positional SL is 13%, If you are an aggressive player then you can place the SL below 428. Adjust the SL and Targets as per your style/appetite. 520 will be a crucial level. Watch the PA there and decide on booking/further addition or fresh entry. Please consult with your financial advisor before investing. The chart shared is for educational purposes.
NSE:RVNLLong
by sagartharayil
MATRIMONY - Ready for BreakoutMATRIMONY - Matrimony.com Ltd shows a promising technical setup with signs of a potential bullish move, given certain conditions are met. Here’s a detailed analysis: 103-Week Downtrend and Consolidation: The chart indicates a prolonged downtrend lasting about 103 weeks, followed by a consolidation phase of similar length. This long consolidation after a downtrend typically signifies accumulation, where sellers lose strength and buyers start gaining control. Double Bottom Pattern: A double bottom has formed, which is a bullish reversal pattern. This suggests that buyers are stepping in at a certain support level, preventing the price from declining further. Stage 2 Breakout: The stock has successfully broken out of its Stage 2 area, indicating a transition into an uptrend. This is typically a strong sign that the stock is moving from consolidation to growth. Small Base Formation and Support: After the breakout, the stock formed a small base above the support level, showing stability and giving further confidence in the continuation of the uptrend. This base acts as a springboard for further upward movement. 20-Week and 40-Week Moving Average Crossover: The chart shows a bullish crossover where the 20-week moving average crosses above the 40-week moving average, confirming the beginning of a potential uptrend. This crossover often acts as a strong buy signal. Volume Analysis: Volume appears to have increased significantly on breakout days, suggesting that institutional buyers are likely entering the stock, which further supports the bullish scenario. Targets: If the stock sustains above the small base and support levels, it may reach the following targets: Target 1: ₹990 Target 2: ₹1,041 Target 3: ₹1,200 Conclusion The technical setup of Matrimony.com Ltd. is showing bullish signals, with a double bottom pattern, Stage 2 breakout, moving average crossover, and high volume support. The stock appears ready for an uptrend if it holds above its current support level. A break above the small base would provide confirmation, and it may reach the projected targets in the coming weeks.
NSE:MATRIMONYLong
by Profit_Trader25
Vedl- Bullish from short term to very long termVedanta- First sign of bullishness shown after two months of fall. Always the lower timeframes indicates the change in trend. So lets start from the smaller timeframes. 1. 15 mins- Low to high and higher low is the first indicator of the bullish trend which can be seen now. Higher high and higher low is not formed clearly still as they are almost at the same level to their previous highs and lows. 1 hour- Formed double bottom because of the same levels of previous highs and lows in the 15 min timeframe. Breaking the resistance of 472 will take it to the target of 490 which again unleashes the Rounding bottom pattern. Daily- After breaking the Rounding bottom pattern, the target of 533 will be achieved with the intermittent targets of 500 and 520. Weekly- Reaching each and every resistance will unleash the bigger and bigger rounding bottoms with the higher targets until 600 and 670 intially.
NSE:VEDLLong
by Flash_J
CNX SMALL CAP- BULL BULL BULL EVERYWHERENIfty Smallcap- Timeline analysis 1. Quarterly- Cup and handle breakout was done on July 2023 for which the target of 21900 is still pending. So Bullish in Quarterly 2. Monthly- 17844 and 18459 acted as a good support due to which Oct month candle didnt go beyond that. Retracement to the August month low is over. With the support of 18600 small cap index will move further up. So bullish in monthly 3. Weekly- Formed a double bottom structure with the target of 21700. If the weekly candle closes above 18459 tomorrow, then the upmove is possilbe until 19222 initially. Because everytime good upmove is seen once it touches 18459. Breaking the strong resitance of 19222 will take it to the target of 21700 - 21900. So bullish on weekly 4. Daily - Daily candle closed strongly above the support of 18459 which ensures the upmove until 19222 initially and then to 21700-21900 after it breaks the strong resistance of 19640. So bullish on Daily. 5. Hourly- The high to low and lower high to lower low is negated since the candle closed above 18459. Now low to high and higher low is formed which ensured bullish in hourly too.
NSE:CNXSMALLCAPLong
by Flash_J