Double Top or Bottom
MOIL - Reverse Head & Shoulder PatternMOIL has formed Reverse Head & Shoulder Pattern after long down trend. Can be added at current level around 157-158 with target of 170 and set SL at 153. This gives us risk to reward ration of 1:3.
Disclaimer:
This idea is only for education purpose, Please consult your financial advisor.
I am not SEBI registered.
banknifty 24th may rising wedge and double top bank nifty is forming rising wedge pattern (blank line) and double top (M) green line and there is a strong support trendline. If the support trendline is broken at 43888 level then possibility of reaching 43333 is high. if it takes support at 43888 level then market might retest and try to break all-time high.
Don't be bullish or bearish trade with the market direction.
Buy above 440057(43900 CE) Target 44132,44282,44410,44550.
Sell below 43766 (43800 PE) Target 43579,43465, 43333.
nifty 19th may W-pattern and failing wedgeNifty is in failing wedge pattern if it sustains above 18210 then possibly it can reach 18414 level and there is another indication of W pattern or double bottom forming if it breaks the same level(18210) then it can reach 18418 level easily. From the Feb speed resistance fan it is taking support at 0.382 level(18110) and if it breaks then 18004 is the next support(0.5 level) and if it takes supports at 18110 level then possibly it can reach 18417 level.
I would suggest being neutral and go with the market direction accordingly.
Buy above 18213(18150 CE) Target 18256, 18304, 18343
Sell below 18106 (18150 PE) Target 18054, 18005, 17942
CRUDE OIL SWING IDEAS (LONG)Crude oil has formed based and will travel further north in coming days due to the following reasons
1)Base formation or consolidation for quiet few weeks
2)20 EMA & 50 EMA crossover on an hourly chart
3)Lows not broken, swing high is taken out
4)W pattern
Need to patiently hold & wait, might see bigger target
(FOR EDUCATION PURPOSE ONLY)
SUNTV | Beautiful setup - Potentially can capture 30-35%SUNTV | Beautiful setup - Looks easy opportunity to capture 30-35%
-> Hammer at channel support
-> W pattern
-> Higher low formation in daily time frame
-> Small breakout in Daily time frame
CMP : 448 (Dip : 420)
SL : 385
Target : 580
1:3+ risk reward setup
double bottom(W) breakout at TATAELXSIOn the #TATAELXSI daily chart, after a 45.42% correction from the lifetime high, a double bottom(W) breakout occurred, which means a reversal. The reversal is also confirmed by the Nifty/TATAELXSI ratio chart.
I compared #TATAELXSI vs. the #Nifty and its peers from October 14, 2021, and discovered that it has outperformed both the Nifty and its peers in the sector.
BSE: 500408
NSE : TATAELXSI
ONLY FOR #educational NOT SEBI REGISTERED #LEARNEARN
It's my analysis, and it's 100 percent possible that I'm wrong. So, please don't believe in me; do your own analysis before investing.