Target 198 Stoploss Daily Candle Close Above 214
Intraday Short trade is possible at this level by providing a Stop loss of high of today. The Index has formed the double top pattern indicating that uptrend is reversing at least for for short term. Now it is retesting the down sloping trend line One can take chance by shorting the index by providing small Stop Loss.
The stock has nicely formed double top pattern and gave clear breakout. It is also trading out of Regression Channel and RSI trading below 50 is confirming the bearish view. One can short the stock and look for the target of 353 in coming days.
Hello Traders, We hope everyone had a profitable week. Here is our view on Nifty weekly chart. In last two weeks, Nifty re-tested the strong resistance levels but failed to close above it which indicates the another rejection. Additionally, Nifty has also formed double top pattern which also indicates the price reversal. Moreover, RSI indicator is also showing...
Hindalco has formed double top on closing basis on daily chart. Short can be initiated below the drawn support line in Red. Possible targets are drawn in Green line. It has also formed 'Weekly Bearish harami' and 'Three inside down' candlestick pattern.
Mahindra & Mahindra Ltd looks like a SHORT candidate from here. It has formed Double top and is on Support line. However, the other indicators suggests that it will break the support and can be shorted from here.
Simple classical double top has given a breakout and price are testing from the below. Short entry is possible at this level.
Acrophobia - Fear of Heights and a fall from the highest level can be dreadful. That's what we are looking in BankNifty, though Nifty & Gold has fallen a bit, here we are still at 20k's at the top almost forming a Double top. Whether this Double top will fail or work - we are unsure about that. This post is insync with our recent post about Nifty & Gold, remember...
It is been observed that price action failing to breach 770 levels due to selling pressure on higher prices that limiting the price action to 770 levels where it formed a double top (V-shape). Now it is a good time to short it with stoploss at 770 levels. Target: 745 Stoploss: 770 Risk Reward: 1:5
Hi Guys, Just two simple scenario's in Nifty, so the details in the chart repeats : I see two scenario's or potential formation for long/short trade setups. (i) If Market opens Gap Down, Nifty can find support in the zone below 8800's n bounce back (ii) If Market moves up & gives bearish reversal around 8880's we can enter short (iii) Breaking any of the...
So, just by one quick look on the chart you will be know about the beautiful Gartley {updated yesterday morning, so I'm not sure how many of you noticed} and Potential double top formation. We predicted Nifty will taking off after Fed's but turned out to be profit booking & boring day. I don't have much expectations today also.Nifty may be ranging within 8900's -...
Nothing fancy today, No patterns or complex wave counts... Simple Double Top in Nifty. But is it Valid Double Top ? Actually, if Nifty is @ 8968's we can vouch that its very much valid double top but its few points away and we have resistance zone also. Nifty is known for its mischievous Gap openings, so lets wait n watch whether we get bearish confirmation in...
It is been observed that the price action breaks out from a trending channel and then the selling seen at the double top that confirms selling and the price action shall move down to the previous resistance, now shall be acted as support. Target: 454 Sl: 474