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Double Top or Bottom

BSE Capital Goods- Relative Strength signaling RED FLAGS!Attached: BSE Capital Goods/ BSE Sensex Daily Chart as of 13th April 2023 The Ratio Chart has given Warning Signals of what is about to come for the Capital Goods Sector, the Warning Signals are as follows: 1) A Broadening Wedge Pattern (see the Blue Trend Lines marking the Pattern) 2) A Double Top formation within the Broadening Wedge Pattern (see the Red Curve and the 2 Down Arrow Marks) 3) Triple Bearish RSI Divergence is also visible 4) MACD is currently in Sell Mode 5) ADX is below 25 meaning range bound (this means a Trend is about to start, biased for the Downside given the other signals) All the Signals I have mentioned are Bearish for the Chart which mean that if it comes to play then the Capital Goods Sector (including Stocks that make up the Sector) would be confirmed to be an UNDERPERFORMER for the coming 2-3 Weeks (till the Downside Target gets met on the Ratio Chart at least) You may look at Stocks within the Capital Goods Sector for Shorting as some of them have already given Sell Signals like L&T and SIEMENS (these 2 are on my radar)
BSE:CGShort
by T_Harth
2
Short Term Trade Setup in TirumalchmBased on recent activity of Tirumalchm, it appears that the price has hit the bottom and is displaying indications of a reversal. This is evident by the fact that the price has broken upward after a period of consolidation or uncertainty. One potential pattern that can be observed is the Diamond Bottom pattern. This pattern typically occurs during a downtrend, where prices fluctuate between higher highs and lower lows in a broadening pattern. As the pattern progresses, the trading range gradually narrows, with the lows trending upwards and the highs peaking. Once the price breaks upward out of the diamond's boundary lines, it suggests a significant reversal to a new uptrend. Short term trade setup targets are clearly mentioned for Thirumalai Chemicals Ltd. Note for everyone who came across this study: This chart is only for educational purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:TIRUMALCHM
by hardeepssethi
Welent looks goodDouble Bottom pattern is formed in Welent. A bullish reversal pattern that is formed when the price reaches two distinct lows, or bottoms, at approximately the same price level. This is usually a sign that the selling pressure has been exhausted, and buyers are starting to take control. The volume tends to decrease as the pattern forms, which is an indication that there is less selling pressure in the market. However, there may be a slight increase in volume at each low as some traders may try to buy at what they perceive to be a bargain price. The confirmation of the Double Bottom pattern occurs when the price breaks above the highest high between the two bottoms. This is often accompanied by an increase in volume, indicating that there is a renewed buying interest in the market. Overall, the Double Bottom pattern is a popular chart pattern among traders and can be a useful tool for identifying potential buying opportunities. However, like all technical analysis tools, it should be used in conjunction with other indicators and not relied upon solely for making trading decisions. Note for everyone who came across this study: This chart is only for educational purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:WELENT
by hardeepssethi
Bajaj Auto sell below 4308Bajaj Auto M pattern is getting formed also divergence in RSI on Daily Time frame. Aggressive traders can take short positions below 4308 with SL of 4351 Target 1= 4209, Target 2=4065 and Target 3= 3995. For safe traders let the price give close below 4209 and retest the 4209 level. On retest of 4209 level can make an entry with SL of high +10-15 points buffer. Target for safe traders are Target 1 = 4065, Target 2 =3995 Please Note, this is my view and just for educational purpose. Kindly request you to consult your financial advisor before taking any trades.
NSE:BAJAJ_AUTOShort
by VikasRanjane
HCLTECH- Bears in Control!Attached: HCLTECH Daily Price Chart Live Market as of 20th April 2023 Pay attention to the following: 1) Formation of a Double Top/ Distribution Pattern 2) A Leading Diagonal Structure marked as ABCDE , so a 3rd Wave Down can play out 3) The Elliot Wave marking signaling end of (B) Wave and (C) Wave Down pending IT Sector is the Weakest already and there are clear Headwinds from a Fundamental standpoint for IT Stocks HCL Technologies has Earnings today so you can expect some Big Move on the Short Side
NSE:HCLTECHShort
by T_Harth
2
[POSITIONAL] HDFCAMC LONG BET risk: Reward ratio is 1: 2 Rest as per Charts ******** Note - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all. ======= I use shorthands for my trades. “Positional” - means You can carry these positions and I do not see sharp volatility ahead. “Intraday” -means You must close this position at any cost by the end of the day. ======= Always follow a stop loss. In the case of Intraday trades, it is mostly the “Low/High of the Candle”. In the case of Positional trades, it is mostly the previous swings ********
NSE:HDFCAMCLong
by Palkesh_Agrawal
dual top pattern explained in simple form The dual top pattern is a popular technical analysis pattern that can signal a potential trend reversal. This pattern is formed when the price of an asset reaches a resistance level twice and fails to break above it. The two peaks of the pattern look like two mountain tops that are approximately equal in height, with a dip or valley in between them. The neckline of the pattern is drawn by connecting the lows between the two peaks. A breakdown below the neckline is considered a sell signal, as it suggests that the price is likely to continue to decline. The dual top pattern is an important tool for traders because it can help to identify potential trend reversals. However, it's important to confirm the pattern with other indicators and analysis before making trading decisions. For example, traders might look for other technical signals such as a bearish divergence or a break below a key support level to confirm the dual top pattern. Additionally, traders may use fundamental analysis to gain insight into the underlying factors that are driving the price movement of the asset. Overall, the dual top pattern is a powerful tool for traders to identify potential trend reversals, but it's important to approach it with caution and to use other analysis techniques to confirm the signal before making trading decisions. In the below example, a newbie too would be able to learn and practice trend reversal using double top pattern Dual top pattern = potential trend reversal. Look for two mountain tops with a valley in between. The resistance level was reached twice but was not broken Draw the neckline by connecting lows between the peaks. A breakdown below the neckline = sell signal. Remember, the dual top pattern can be a powerful tool for traders to identify potential trend reversals, but it's important to confirm with other indicators and analysis before making trading decisions.
NSE:HDFCLIFEEducation
by pratik2358
1
Learn Bullish technical analysis pattern called DOUBLE BOTTOM The double bottom pattern is a bullish reversal pattern that occurs after a downtrend. It consists of two consecutive troughs of roughly equal price, with a peak in between. The pattern is confirmed when the price breaks above the peak with higher-than-average trading volume. Traders use the pattern to project a target price for the breakout. Traders may enter long positions in anticipation of the breakout. The pattern should be used with other indicators and analysis to confirm its validity.
NSE:NAVINFLUOREducation
by pratik2358
How to trade DBRealty going forward?This stock has formed a pattern called Double Bottom, providing a target price for the intermediate-term in the range of 87-89. The price recently crossed above its moving average signaling a new uptrend has been established. It appears that the price of DBRealty has reached a low point and then rebounded, indicating a potential reversal of its downward trend towards a new uptrend. This can be further confirmed by observing the Double Bottom chart pattern, which consists of two distinct lows occurring at roughly the same price level during a downtrend. As the pattern forms, there is typically a decrease in selling pressure, indicated by a decrease in trading volume. Finally, when the price breaks above the highest high point between the two lows, it confirms a bullish signal for the asset's future direction. Note for everyone who came across this study: This chart is only for educational purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:DBREALTY
by hardeepssethi
Divislab - short term positive trade setupClarification of setup 1. candle closure on 7th feb and 14th march 2023 seems there is good support near 2720 levels and can be assumed as double bottom setup. 2. divergence has occurred between price and RSI , indicating short term bullish pattern . 3 entry, t1 and t2 has been marked in chart. Note for everyone who came across this study: This chart is only for educational purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:DIVISLAB
by hardeepssethi
EXIDE INDS - 42% RETURNS!!!BUY - EXIDE INDUSTRIES CMP - Rs. 183 Target - 1: Rs. 212 Target - 2: Rs. 260 . . Technical - 1) Double Bottom Pattern (before breakout). 2) Bullish Flag Breakout 3) Targets have been set using previous swing highs and Gann Fan. . . Fundamentals - 1) The automobile batteries manufacturer has bought 24.80 lakh equity shares in Ulric Renewables, at a price of Rs 80 per share, amounting to Rs 19.84 crore. With this investment, its shareholding in Ulric Renewables stands at 39.08%. 2) Strong annual EPS growth. 3) Growth in Quarterly net profit with increasing profit margin (YoY). 4) PE = 3.39 < SECTOR PE = 5.30 5) FII holding has risen by 1.33% in December 2022. 6) DII holding has risen by 1.7% QoQ. . . This opinion is for educational purposes. I am not SEBI registered and this is not an investment advice. As with any trade, always look first, then leap.
NSE:EXIDEINDLong
by nilakshgupta
IRB INFRASTRUCTURE - BULLISH MOMENTUM!!BUY - IRB INFRASTRUCTURE CMP - Rs. 26 Target - 1: Rs. 34 Target - 2: Rs. 40 Target - 3: Rs. 58 . . Technical - 1) Flat Base Pattern. 2) High Volumes in previous trading sessions indicating potential breakout. 3) Double Bottom chart pattern. 4) Positive breakout at first resistance, LTP>R1. . . Fundamentals - a) The Highway construction company has recorded toll collection at Rs. 369.9 crore for the month of March 2023, growing 20.6% over toll collection in the same month, last year. b) Quarterly EPS has been consistently rising. c) PE = 21 < SECTOR PE = 33 d) Number of MF schemes have risen from 6 to 8 in December 2022 quarter. . . Comment: a) Minimum Return - 28% b) Maximum Return - 116% . . This is only an educational idea. I am not SEBI registered, so don't accept this as investment advice. As with any trade, always look first, then leap. . . Follow me for more!
NSE:IRBLong
by nilakshgupta
DLF - Reversal and BreakoutTells Me: It seems that the price of the DLF had reached a point where it couldn't break through a support level, but instead began to rise again, indicating a potential reversal towards a new uptrend. The Double Bottom pattern formed during a downtrend as the price reaches two distinct lows at roughly the same price level. Eventually, the price of Dlf breaks out above the highest high point, which confirms the bullish signal and indicates that the Dlf price may be on an upward trajectory.
NSE:DLF
by hardeepssethi
2