Double Top
RISE OF A DOUBLE TOPSun Pharma
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DOUBLE TOP __1 day chart pattern
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APRIL 27 tested a new high (504.80) and failed to break it. Almost after month+ it has risen above to its Previous HIGH.
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I would go SHORT around " IF THERE IS ANY RESISTANCE AROUND IT'S PERVIOUS HIGH OR IF THERE IS A SIGN OF A NEGATIVE CANDLE
( HANGING MAN ) IN THE NEXT FEW DAYS"
TARGET__ 475- 450
STOP LOSS __ HIGH OF THE RESISTANCE OR THE RED CANDLE YET TO BE FORMED
WARNING -- GO SHORT ONLY IF THERE IS ANY STRONG RESISTANCE AROUND PREVIOUS HIGH 504 (+3,-3) RANGE.
Mindtree, Good Time to Short sellAs clearly shown on charts, Mindtree is currently facing weekly timeframe resistance
1) Momentum loss clearly seen
2) RSI below 60
3) Double Top Formation
4) Negative Divergence seen on daily charts
Confirmation of the pattern if 880 Broken, One can enter into positional long for a target of 730
Correct time to snap up the WIPRO.The stock has already formed the DOUBLE TOP pattern.
A double top has an 'M' shape and indicates a bearish reversal in trend.
Now forming Symmetrical triangle, the value is going lower but it has strong support point to be noted and the volume is not increasing so price will take some time to go for the target that is 187 nearby.
(Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes.)
Buy in pull back that is 181-178.
Maintain stop-loss.
Asian Paints can retrace 100 % of fibbo levelIf able to break and sustain above 1845 then upside possible at 100 % fibbo retracement level and can reach 1897. If breaks below 1806 then can reach 1755- (near fibbo level of 0.236)
GOLD Double Top Oportunity
Weekly chart - Strong buying pressure
Daily chart - Potential double short
Hourly chart - pushing back to tesst top resistance once more
If it rejects this top level again we are in a good way for Double top setup
We will have to wait and see how price reacts to the 143 price level, If you want you can play agressive with a shot pending order on the 143 level and a ver short stop loss right above this resistance. Price might bounce back really fast and you will miss this opportunity
USOIL forms Double TopUSOIL form double top in 1 hour time frame short when neckline is broken and target and stops are mentioned in the chart.
BEARISH.BIOCON formed DOUBLE TOP in weekly chart.SHORT from hereBIOCON has just formed a DOUBLE TOP and look out for reversal from this level.
apollo hospittal :-(short) need a bed gonna collapse soon.short below 1340 target price 1260 stoploss 1400.
Do LIKE and FOLLOW if you agree with the idea.
DOUBLE TOP FORMATION ON THE HOURLY CHART OF TECHMTHE VOLUME AT THE FIRST TOP IS HIGH COMPARED TO THE VOLUME ON THE SECOND TOP. ALSO, THE DOUBLE TOP IS CONFIRMED BY THE HIGH VOLUME AT THE BREAKOUT OF THE NECKLINE. EVEN THOUGH THE PRICE AS OF NOW IS ABOVE THE NECK LINE, IT WILL GO BELOW THE SOON.
a fall started... pic speaks a lot... but now only I have few words left.. here u go....
1) a double top in 1W..
2) 4hr a trend reversal is confirmed
3) 30 min a LH formed and started a fall.. hit 1st target.
4HR - target -- 1) 1.40082 (already hit the target.)
2) 1.39406
3) 1.38673
4) 1.38311
in WEEKLY target -- 1) 1.17347 .
Basic Pattern: explanation of DOUBLE TOP. 1) Prior Trend:
For the double top pattern, the prior trend must be up- trend for several months.
2) First Peak:
Normally, this peak will be higher peak of current trend.
3) Neck Line:
From the prior trend, neck-line should be 10% to 30% normal case. The lows are sometime Rounded or drawn out a bit which can be sign of low volume and low demand .
4) Second Peak:
Price moving from neckline to second peak will be low volume. Ususally second peak within 3% of the previous high (1st peak) is called 2nd peak.
5) Decline from peak:
Price decline after reaching the 2nd peak with high volume and marke a GAP or two.
TCS - Double Top formationTCS has gradually formed Double Top which is slanted. Historically, double top has a bearish outlook. A reason which may prove extraneous and therefore may invalidate Double Top could be Q3Y20 results. If results surpass majority of expectations then TCS may bouce back
DLF ShortDLF Short 4 hourly Chart
1. Double Top pattern
2. Dark Cloud Cover Pattern
3. Negative MACD Divergence
4. Very Short Stoploss.
GAIL SHORT GAIL FORM DOUBLE TOP KIND OF PATTERN ON 4 HOUR CHARTS TO MAY FALL TO THE MENTIONED LEVEL.
THOSE WHO WANT TO TRADE LEVELS ARE MENTIONED ON CHART
AXIS Bank looks weakDouble Fake top formation on Axis Bank also there is RSI Bearish Divergence
Sell @ 744.70
SL @ 756.40
TGT1 @ 733.20
TGT2 @ 725
Reliance AnalysisReliance has made a double top pattern and has landed on the neckline. 1541 is critical support and falling below that will trigger the double top pattern and will push the scrip towards 1521-->1502--> 1483-->1465. 26th Dec (+/- 24 hrs.) is critical date and it can change the trend in the favour of bulls.
The double top height is the target in classical TA, but will not consider this target at least for now.
Regards,
Sharma Yogesh
Possible Sell trade for TATAELXSITATAELXSI Sell @ 843.75 fake double top formation with weak RSI and Bearish Divergence
TGT1: 808.85
TGT2: 773
SL: 880
Update: INFOSYS Looks Weak on Hourly ChartOne can sell INFY if it crosses below 713.65 for TGT1: 705.05, TGT2: 696.45 with SL: 723 also RSI Looks weak because there is Bearish Divergence
Sell BataIndiaFake Double top with Bearish Divergence on 30 Min chart,
Sell Below 1700
with StopLoss: 1724
TGT1: 1678
TGT2: 1655
