"PRICE ACTION" -FRIDAY WAS A VERY GOOD DAY FOR TRADE -MARKET DID BREAK SUPPORT AND TEST LEVELS EXPECTED -BUT THE BOUNCE WAS SHARP FROM THE LOW -AS WE DISCUSSED EARLIER IN MY ARITCLE A CLOSE BELOW 14450 IS IMPORTANT FOR SUSTAINED DOWNSIDE -BUT SINCE FTSE REBALANCING WAS EXPECTED MARKET SAW MORE THAN EXPECTED -NOW IT REMAINS TO BE SEEN WHETHER WE SEE A CLOSE...
looking to retrace 50% of the recent rally on weekly chart. Double top on daily chart. Narrow CPR on daily with falling price, which may continue. on Weekly closing below 21DMA.
INDEX OBSERVATION -ON DAILY CHART THE STOCK IS FOMRING A DOUBLE TOP FORMATION -CRUCIAL POINT 14450 -NOW THE TRENDLINE IS VALID AND WE HAVE RECEIVED CONFIRMATION -YESTERDAY MARKET EXACTLY CLOSES ON THE TRENDLINE -ALSO TOOK SUPPORT @50 EMA -TWO IMPORTANT TRIGGERS ON THE DOWNSIDE A)NIFTY BREAKS BELOW THE BULLISH CHANNEL ON CLOSING BASES B)AFTER RETEST OF...
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...
it has formed double top at 284 on daily chart, either it could consolidate until it touches 21 EMA or it may fall upto 21EMA. if it breaks recent swing low it can fall further down.
*Double top formation, EW, Short Hey, I'm a beginner publishing my first analysis and trying to learn. Please correct and guide me if there's any kind of mistake with my analysis.
#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 #stockmarketindia ...
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
If reliance breaks this resistance we can have a bearish view on reliance Reliance will again come inbetweeen the levels where it faces resistance
If Endurance Technologoes breaksdown below 1289, the neck line, it can go all the way to 1204 and then to 1125
Titan given breakout of Double Top formation on daily time frame. volumes are not much attractive but overall trend is negative.
Dr Reddy has given breakout of double top pattern, again retested base line also took 50% retrenchment resistance & moving towards its target with supportive volume.
Reliance shorting opportunity Reason for Short: 1. Resistance 2. Double top 3. Trend line break out Lets wait and see... Cheers!!!
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...
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...
The stock is forming a pattern and if it follows Double Top then it may test 600 levels. To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team