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Double Top or Bottom

Bitcoin FOMO levels activity The number of notifications I’ve been receiving is just a small and simple examples to understand the level of sentimental value increased. In my previous bullish idea on bitcoin, I relied more on Fundamentals of it, which played really well. On Technical Levels, it has successfully performed mean reversion on 15,60 SMA 100,200. DOUBLE TOP looks certain if 35k is held rigid. Otherwise, there’s a chance for pullback till maybe 30k and forward.
BINANCE:BTCUSDShort
by trinityneo_07
SPARC : Breakout Soon#sparc #swingtrade #momentumtrade #patterntrading SPARC : Swing / Momentum Trade >> W pattern clearly visible >> Volumes building up >> Good Strength in stock Low Risk High Reward Trade Swing Traders can lock 10% profit & keep trailing Please Like or comment if u r Liking the analysis & Learning from it. Keep showing ur Love Disclaimer : This is not a Trade Recommendations & Charts/ stocks Mentioned are for Learning/Educational Purpose. Do your Own Analysis before Taking positions.
NSE:SPARCEducation
by moneyfesttrading
ACI is ready to make impact #superchartzKey Levels: Support: 650 Resistance: 730 Technofunda: Archean, a prominent specialty marine chemical manufacturer in India, has made significant strides in its financial health and operational performance over the last few years. Here's a summary of the company's key highlights: 1. **Debt Reduction:** Archean has made substantial progress in reducing its debt, indicating a commitment to improving its financial stability and reducing interest costs. 2. **Near Debt-Free Status:** The company is on the path to becoming almost debt-free, which further enhances its financial strength and reduces financial risk. 3. **Impressive Profit Growth:** Archean has demonstrated robust financial performance with an impressive Compound Annual Growth Rate (CAGR) of 46.8% in profits over the past five years. This consistent growth is a strong indicator of the company's ability to generate sustainable returns. 4. **Strong Return on Equity (ROE):** Archean boasts a solid track record of a 60.0% ROE over the past three years, signifying its efficient utilization of equity capital to generate profits for its shareholders. 5. **Improved Debtor Days:** The company has effectively managed its receivables, as evidenced by the improvement in debtor days from 37.6 to 29.8 days. This reflects efficient working capital management and cash flow control. 6. **Diverse Product Portfolio:** Archean is a leading player in the production and export of specialty marine chemicals, including bromine, industrial salt, and sulphate of potash. This diversified product portfolio can help mitigate risks associated with dependence on a single product. 7. **Global Bromine and Salt Exports:** Archean's status as the largest exporter of bromine and industrial salt in India, combined with its low production costs, positions it well in the global market. This competitiveness may lead to sustained profitability and market leadership. 8. **Revenue Growth by Product:** The revenue bifurcation by product shows a balanced mix, with marine chemical salt accounting for 49% of revenue, bromine contributing 50%, and sulphate of potash making up 1%. This diversified revenue stream can help the company withstand fluctuations in specific product markets.
NSE:ACILong
by SuperChartz
BPCL - Bullish Swing Reversal with VolumesNSE: BPCL is closing with a bullish swing reversal candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 12% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:BPCLLong
by BrahmaBull31
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
Nifty Pharma: Double Top or Bull Flag?The pharmaceutical sector, represented by Nifty Pharma, has been on a remarkable journey over the past three months, rallying approximately 30%. This surge has been characterized by a breakout above its previous all-time highs by more than 700 points. However, in recent days, Nifty Pharma has found itself trading within a range of 15,000 to 15,750, with the previous all-time high acting as a crucial support level. As traders and investors closely monitor these developments, the question arises: Is this a double-top pattern forming, or could it be a bull flag signaling the potential for another upward surge and the creation of new all-time highs? Let's delve deeper into the possibilities. Understanding the Double Top Pattern A double-top pattern is a bearish technical chart pattern that suggests a potential reversal of an ongoing uptrend. It typically occurs after a prolonged upward movement and is characterized by two peaks that reach a similar price level, separated by a trough. The pattern is confirmed when the price breaks below the trough, indicating a shift in market sentiment from bullish to bearish. In the case of Nifty Pharma, it's important to note that the price has not yet breached the previous all-time high, which is currently acting as a support level of around 15,000. Therefore, while the price may appear to be forming a double-top pattern, it has not yet confirmed this bearish reversal. The Potential for a Bull Flag On the other hand, a bull flag is a bullish continuation pattern that often occurs after a strong upward move in price. It is characterized by a consolidation phase, where the price trades within a narrow range in the form of a flag, typically sloping downward. This consolidation is seen as a temporary pause before the prevailing uptrend resumes. In the case of Nifty Pharma, the consolidation between 15,000 and 15,750 could potentially be interpreted as a bull flag. This pattern suggests that despite the recent rally and the subsequent consolidation, there might be further upside potential, and new all-time highs could be on the horizon once the flag pattern resolves to the upside. Factors to Consider While technical analysis can provide valuable insights, it's important to remember that market dynamics are influenced by a multitude of factors, including economic conditions, news events, and global sentiment. In the case of pharmaceutical stocks, factors such as drug approvals, clinical trial results, and regulatory changes can have a significant impact on stock prices. Conclusion The recent performance of Nifty Pharma has certainly caught the attention of traders and investors alike. The current consolidation phase within the 15,000 to 15,750 range, with the previous all-time high acting as a support level, has sparked debates about whether a double top pattern is forming or if a bull flag is in play. While the technical patterns provide important clues, it's crucial to consider the broader market context and fundamental factors that can influence the pharmaceutical sector. Traders and investors should remain vigilant, monitor news developments, and be prepared for various scenarios. Ultimately, whether Nifty Pharma resumes its rally to create new all-time highs or experiences a reversal, careful analysis and risk management will be essential for anyone looking to navigate the pharma sector in the coming days and weeks.
NSE:CNXPHARMA
by TrendTechnician
Done with the AUSSIES... Now see Shriram PROPERTIES- Company is expected to give good quarter - Company has delivered good profit growth of 23.4% CAGR over last 5 years - Debtor days have improved from 81.8 to 42.6 days. - Annual Revenue rose 57%, in the last year to Rs 814 Crores. Its sector's average revenue growth for the last fiscal year was 14%. - Annual Net Profit rose 574% in the last year to Rs 66 Crores. Its sector's average net profit growth for the last fiscal year was -15%. - PE ratio is 21 vs sector PE ratio of 101. Negative - Promoter holding is low: 28 % - Mutual Fund Holding decreased by 1.05% in the last quarter to 4.07.
NSE:SHRIRAMPPSLong
by CannySunny
5th Oct ’23 - Bearish despite gap-up - PostMortem BankNiftyBankNifty Analysis BankNifty had a similar chart pattern as that of Nifty. An opening gap-up of 272pts ~ 0.6% and then a 2nd leg of rally from 10.30 of 279pts ~ 0.63%. The only difference I saw was that after the day’s high was hit - BankNifty started falling gradually whereas Nifty went flat. Tomorrow’s RBI MPC outcome at 10.00 might be interesting. We would like to see how RBI governor is planning to suck the liquidity out. The I-CRR implementation and then its withdrawal created a ruckus last time. Markets fell first and then recovered equally. If the liquidity is left unchecked - the costs of goods & services will keep getting inflated. Unlike other developed countries - we do not want to hurt the growth and the growth in inflation is not hurting us that badly. I do not wish to change my bearish stance on BankNifty despite an up day today. The M pattern at 44650 levels are looking quite strong for me and until BankNifty takes them out - I do not even plan to go neutral as well. The biggest enemy of the bears is the implied volatility - the options premiums are not expecting a massive move this week even though we have an RBI event. Option sellers are having a tough time these days - I still think it's much better not to trade than sell strikes cheaply.
NSE:BANKNIFTYShort
by viswaram
3rd Oct ’23 - A double M pattern, Quadruple top - BankNiftyBankNifty Analysis For today I had a neutral stance instead of a bearish one - mainly because we made a double bottom pattern in the last session. But the opening 5mts candle simply negated that in one go. Still, Banknifty was staying relatively strong versus Nifty. Both of them did break the swing low - but BankNifty’s recovery was more convincing. Bulls should not take it as a good sign - because the fall and the recovery look like an inverted flag. Since it's on 5mts TF - it may not have that much significance yet. On the 1hr TF - the W pattern stands negated. We now have an M pattern. If the preceding peaks are considered with a bearish tint - we have a double M pattern or a quadruple top. The only relief for the bulls is that the index is not making a lower low. For tomorrow I wish to change my stance from neutral to bearish and hope that the 44068 gets taken out.
NSE:BANKNIFTYShort
by viswaram