DXY Technical analysisThe 4 hour chart of DXY shows sideways movements and double top pattern
With engulfing candle formed selling pressure intensifies further more here after
Short until reaching the expected targets respectively.
Double Top
ICICI Bank – Double top and Evening StarICICI Bank NSE:ICICIBANK appeared very weak today, with the stock forming a large Bearish candle showing strong price rejection in the 300-302 zone.
I can see that the stock has formed an Evening Star pattern today.
Also, RSI has been increasing whereas the stock formed a Double Top, indicating hidden bearish divergence.
I think the stock is heading back to the 277-283 zone.
Good opportunity to short here with a small stop loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
USD/INR - Double TopUSD/INR FX_IDC:USDINR has been hovering around the 68.5 mark for quite some time (around a month) now, and has started to come down slowly.
I can see that the price has formed a Double Top with a negative divergence.
Looks to me like the price is slowly approaching 66.85 levels.
Good opportunity to short here with a small stop loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
JSW Steel – Double topWith Metal Index looking Bearish, selling pressure seems to be mounting on JSW steel NSE:JSWSTEEL as it formed an extremely Bearish candle on Friday.
I can see that it has formed a Double Top like structure around 344 levels and is showing Negative Divergence.
Looks like the stock is heading towards 307 levels.
Good opportunity to go short with a small stop loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
Nifty - Double topI can see that Nifty NSE:NIFTY has formed a nice Double top around 10900 levels with RSI divergence.
If it fails to cross this hurdle it may come back to 10420-10490 levels.
If it breaks 10900 and sustains above it on closing basis the trade is invalidated.
Good opportunity yo short here with a small stop loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
Tech Mahindra - Topped out ?Tech Mahindra has been struggling to cross the resistance around 722 for past few days.
With IT index looking weak, there is a high probability that the stock may crash soon.
I can see a Double Top formation around 722 levels with a negative divergence.
Good opportunity to short here with stop loss a few points above 722 for a first target around 640 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
Tata Elxsi - Double TopTata Elxsi NSE:TATAELXSI has hardly corrected at all from its top and is close to its high on April 26.
With US dollar coming down with respect to Indian Rupee after a huge uptrend and IT sector also looking weak, looks like this stock is ripe for profit booking.
I can see a Double top formation here with negative divergence.
Good opportunity to short here with stop loss a few points above 1260 for a first target around 1100 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
TCS - Topped out ?After a long uptrend, TCS NSE:TCS appears to have formed a Double Top today, facing stiff resistance around 3600 levels.
I can also see a Bearish engulfing candle at the top with RSI showing negative divergence.
Took short positions today with a target in the 3150 – 3200 zone.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
ITC – Topped out?ITC NSE:ITC is facing very strong resistance near 290 levels.
It has been struggling around these levels since past few days.
Now that the results are also out, looks like profit booking has started in this stock.
I can see a Double top formation with a negative divergence as well as a Bearish Engulfing candle that it formed today.
Good opportunity to short with a stop loss a few points above recent highs and first target around 266 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
HDFC – Topped out?HDFC NSE:HDFC has been slowly rising towards its previous high made on Jan 29.
However, the stocks has once again failed to clear the resistance around 1950 levels and is slowly moving down.
I can see a Double top formation here with negative divergence.
Looking for shorting opportunities in this stock with stop loss above recent highs and first target of around 1865.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
SRF - Double TopSRF Ltd. NSE:SRF has formed a clear Double top with Negative Divergence.
To me looks like it is slowly moving towards ~ 2000 levels guys.
2300 can be a good resistance on the upside.
However one needs to watch out for result on May 17.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
Manappuram finance Short term viewRefer chart. Double top formation going on..
Vijayaraghavan,
Kovilpatti
Potential Short opportunity for EurJpy ??133.00 is the key resistance which can be seen on Daily chart.
A double top was formed during the past two days trading session.
Price has since trying it's last push higher.
I am anticipating a triple top to form, press the price lower.
My position :
Entry : 132.65
SL : 133.15
TP : 131.90
** This is not a Buy/Sell recommendation **'
** Please do your own due diligence **
Apollo hospital shot term viewPls see the chart. Double top formation going on in 1 hr chart based on double top 1060 is support level. Based on triangle, support line mentioned in chart. Choose which one is prefer to you. Both breakdown gives the same target.
Vijayaraghavan,
Kovilpatti.
Escorts falling to 645 level?A classic Double Top pattern has been formed on NSE:ESCORTS . A double top pattern is often formed on a previously bullish stock that is now currently showing a reversal to a bearish direction. This is a medium term positional call that is valid for 45-50 days. Interestingly, a stochastic bearish divergence (Triple) is also formed confirming an immediate fall in Escorts.Here are the levels:
(T1): 791
(T2): 738
(T3): 645
Stop loss: 841
UPL: POTENTIAL SHORT SETUPDo hit the like button and comment.
Trade only if this setup suits your risk appetite.
Regards
Bravo
YES Bank Ltd! Double Bottom Reversal (1hrs Chart)Technical : Double Bottom Reversal Chart Pattern (1hrs Chart)
Keep an Eye On Trend reversal line And Double Top Breakout @ 360 Closing Basis on 1hr chart
Technical Target : 416
Ganesh Housing Corporation Ltd There are 2 patterns in the chartTechnical : There are 2 patterns in the chart for 1hr
KEEP AN EYE ON
Chart Pattern
1. Flag pattern
2. Double Bottom Reversal
3. RSI Divergence
The breakout was confirmed on 12/11/2018 11:15am Candle @183
Technical Target : 207
Fundamentals :
(Fundamental Medium Term Target 250)
(Fundamental Long Term Target 300)
1.Total (Mkt. Cap) : 899cr
2.Debt : 0.28cr
3.Stock PE : 23.50
Cupid Ltd! Double Bottom Reversal (Weekly Chart) Technical : Double Bottom Reversal Chart Pattern (Weekly Chart)
Trend reversal line And Double Top Breakout @ 340
Technical Target : 431
Fundamentals :
(Fundamental Medium Term Target 500)
(Fundamental Long Term Target 600)
1.Total (Mkt. Cap) : 418cr
2.Zero Debt : 0.00cr
3.Stock PE : 18.40
Coal India Ltd (Weekly Chart Analysis)Technical : Double Bottom Reversal Chart Pattern (Weekly Chart)
Trend reversal line And Double Top Breakout @ 295
Technical Target : 361
Fundamentals :
(Fundamental Medium Term Target 700)
(Fundamental Long Term Target 1200)
1.Total (Mkt. Cap) : 1,88,830cr
2.Zero Debt : 0.00cr
3.Stock PE : 13
4.ROE : 104.19%
Atlanta Ltd! Double Bottom Reversal (Weekly Chart)Technical : Double Bottom Reversal Chart Pattern (Weekly Chart)
Trend reversal line And Double Top Breakout @ 88
Technical Target : 153
amara raja battery looks bearish in medium termIn weekly, price broke horizontal support, then it bounced back to retest the broken support, which is acting as a resistance now.
also price is at descending channel resistance.
also double top pattern confirmed here,
it can slide down to 670, 640, 560 levels.
Hexaware Video - 237 to 350- New Story Unfolding Part 2Wish you all happy new year 2018!
As published last on this stock in May 2017 - Journey above cloud @237 - A new story could unfold, I am excited to put video update about that story & its current structure.
Do support & enjoy.
