Well, atleast I believe so. Probably the retest of trendline around 9430's to 9450's zone then Nifty will move down further to 9350's zone, but may happen today or 2mrw . Moreover, I'm expecting that double bottom to be failure one, bcos of bearish sentiment... chill..chill...relax.. Bearish sentiment on very short timeframe. We can wait for further push up by...
The stock has formed a clear classical double top reversal pattern and traded below the neckline yesterday. It would offer a good short trade in coming days. It is one of the most simple pattern so need not much details. Have a good profit.
Good Morning, Cutting straight to analysis : The threat of 9360's zone retest is not eliminated though, we have certain reasons to believe that there may be potential double top formation near our recent highs zone above 9500's. So one can look for entry setups both on 1 hr and below that for trading purpose as per their plan. Depending on what happens around new...
RSI Divergence in double top area is showing the potential weakness. The pseudo upthrust bar yesterday with big volume is another confirmation for the potential short today with Stop Loss just the high of the previous day bar.
It has been observed that JINDALSTEL is double top break down, indicators are negative watch near retest, it can reach the target of 100 stop loss 119
i) Enter only on Bullish confirmation in the zone, else trade is invalidated, Not blind buy ii) Either Book Partial profits or trial stops after 245's zone iii) Its 4 hrs, so patience is the Game
Nandan Denim cmp 122.90 a trading bet as of now... tgt 128-137-143 SL 117 double top buy inPnF
Double Bottom on Daily chart . RSI at 31.45 Near long term support. Buy for target of 675 Stop loss below 600
Tata steel formed double top . top1 17-March-2017 price 508.75 , top 2 7-April-2017 price 506.35. it has broken the neckline support. May try to retest the neckline but at end will surely touch target of 446. Keep stop loss of 492.75 and go short.
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 pattern is simple and clear so doesn't require much details. After breakout it is retesting from the above which could be an opportunity to go long with small stop loss. It has also broken the down sloping trendline.channel and trading above it convincingly another confirmation for a trend reversal. One can look a target of 357 - 370.
Voltas has formed double bottom and has crossed the neckline and is about to complete the double bottom with a target of 401-403. Bottom 1 : 18-Nov-2016 Bottom 2: 27-Dec-2016
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.
The stock has given classical double bottom breakout that too with divergence. The simple pattern offers a long trade in stock by providing suitable stop loss. Prices can easily climb to 5300 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...
After Nifty and Titan completing successful double bottom's as per my earlier post's , it seems to be Heidelberg Cement's turn to follow suit. Perfect double bottom pattern formation although still not confirmed on closing basis. It made a high above the peak of 123.45 . RSI & MACD both showing postive divergence on daily charts make this stock to be put on radar...
The stock has broke double bottom neckline thus it seems it has formed the base and wants to go up. One can buy it here or on dips for a target of 1240. Simple patterns works mostly.