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Double Top

Colpal Double Top Breakdown: Navigating Short PositionsColpal broke the neckline following the formation of a double top , signaling a potential bearish trend. We've initiated short positions based on this pattern. Please note, that the provided chart includes details such as entry points, stop-loss levels, re-test zone, and target levels. However, trading involves risks, and these are speculative predictions. It's crucial to conduct thorough research, consider your risk tolerance, and, if necessary, consult with a financial advisor before making any trading decisions. The market is dynamic, and outcomes may vary. Trade responsibly.
NSE:COLPALShort
by iamrk7
Nifty Analysis: Double Top Alert! 🚨 Heads up, traders! Nifty has formed a double top pattern right at the peak. While we hesitate to scream "downtrend," signs point to a potential correction. 📊 Technical Breakdown: 1. Initial confirmation with a neckline break. 2. Crucial retest completed for added confirmation. 🎯 Targets & Stoploss? Refer to the chart for specified levels. Brace yourselves for potential market moves! Disclaimer: Market predictions involve risk. Trade wisely. #NiftyAnalysis #DoubleTopPattern #MarketAlert 📈🔍
NSE:NIFTYShort
by iamrk7
Reliance chart studyReliance spot at 2600 Weekly time frame Horizontal resistance as per previous life high levels, from where counter have changed trend in past, Bearish wolf wave or wedge can also be considered as per formation. Need to keep close watch on price action on daily time frame, if counter is not able to breakout and sustain above life high levels, can retrace around 5-7-10% going ahead, counter have give around 20% move from 2200 levels one way so as per fibbo 50% retrace would give a good 8-10% fall in counter. life high levels remain a key point as the juncture
NSE:RELIANCE
by RUDRA007
16th Oct ’23 - M pattern overlooking W pattern - BN PostMortemBankNifty Analysis BankNifty’s trade today looked quite different from Nifty50. The opening candle was a stronger red and we retested the 44068 support. Since we did not break it - my short call did not trigger. The rejection took BN higher by 312pts ~ 0.71% and we went into the green territory for a brief period. And even after all these - the options data was absolutely lackluster. Absolutely no premiums - the best trade again was to wait it out. We all knew HDFC Bank would come with its results today - still, the volatility was not really there. Recommend you to read this tweet by Deepak Shenoy wherein he has compared the results pre and post-merger. Most retail traders may be blinded to believing there was a 50% rise in Net Profits. The reality is quite different. On the 1hr TF we have a double top overlooking a newly formed double bottom (just below support). Although the W shape is not that beautiful - the lack of ability to break the support puts its weight behind it. Today also we had a reversal from support. I still prefer to go with a neutral stance till we get more clarity. 100% sure that HDFCBK’s results will skew the price action tomorrow - I still prefer to wait for the dust to settle.
NSE:BANKNIFTY
by viswaram
Double TopA double top is a bearish technical reversal pattern. It is not as easy to spot as one would think because there needs to be a confirmation with a break below support. While a double top is a bearish signal, a double bottom is a bearish signal. Top tops usually have an upswing, initial peak, trough, second peak, and neckline. Investors can short trade after the break or place small trades, as double tops may have limited profit potential. Script = BSE Time Frame = 1 Day
NSE:BSEShort
by Jainshashwat
Banknifty Intraday. (Next week)Banknifty for ( 30/07/2023 ) Enter once "Breakout and Retracement" . . For " long " entry: 45530 target: 45760 stoploss: 45450 . . For " Short" entry: 45400 target: 45250 - 45020 stoploss: 45510 . . Enter only if market Breaks "Yellow box" mentioned. . Wait for proper reversal and conformation. . Don't make complicated trade set-up.📈📉 Keep it " simple, focus on consistency "💹 Refer our old ideas for accuracy rate🧑‍💻 Valuable comments are welcomed-✌️ . refer old ideas attached below
NSE:BANKNIFTY
by TheNuraTrading