Double Top Pattern
1. Double Top Pattern is a Trend Reversal Pattern.
2. In this case the trend prior to the Double Top Pattern was clearly an Uptrend.
3. Bandhan Bank broke the confirmation line and a good entry, in this case, would have been @ 374 on 15.01.2021 using the Retest Entry Technique.
4. Target would have been the Height of the Double Top Pattern or...
1. BHEL took support at the levels of 42.0 to 42.30 in October 2019. These were pre - Covid times.
2. BHEL took support at the same levels of 42.0 to 42.30 in the 1st week of Jan 2020. Again, the market has not yet started responding to the Covid pandemic.
The support was finally broken in February and BHEL reached the levels of 19.20. From there it made a...
Hdfc bank spot cmp 1575
Previously shared study to go short around 1610 levels with stoploss of 1625 ,,
Counter was not able to sustain above 1625 levels,, and now have started falling,,
Double top pattern formation on hourly time frame,, Neckline for the pattern is around 1560-1565 levels,,
Once break below 1560 levels more shorts can be added for down side...
As shown on the chart, the double top pattern has occurred 3 times in the recent few months. Each time, the market has corrected significantly.
The entire second week of February, Nifty has been moving in a tight 200 point range, with buying coming at 15000 levels and strong selling at 15,250 levels. With the current levels of volatility and narrow contracting...
Double top. Formation Spotted and looking good support at 1016 level
If break this level. We can see1000 levels
Taken 3 times support around sell level gives more confidence
Please trade according to your risk Management
This idea is for EDUCATIONAL purpose Thanks
MFSL forming double top formation
if it takes support from the blue zone, you can try going long
else, if it breaks the trendline, you can go short
disclaimer: markets can be irrational since budget is near.So trade wisely
#ultratechcement showing weak signs
with nifty breaking its trendline today, market may be bearish for the next week
also, RSI is near 40.
if ultratechcement breaks trendline, you can easily short it for good profits
if it takes support at the support zone, then go for a long position.
market is supreme and we should always respect the trend
Nifty formed double top or M pattern on Daily Chart
Will there be a Correction continuation or a Big Crash coming like last year???
Rsi Divergence too strengthening the idea of huge correction atleast 10% or 14000 points