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Double Top or Bottom

W-Pattern Breakout Alert: KRN Heat Exchanger📊 Setup Overview: Entry: Above ₹828.75 Stop Loss: ₹670 Target: ₹1030 (Positional) RR: 1:1.2 (📌 Close to 20% risk, so trade light!) 📈 Technical Highlights: Bouncing off 30DMA & 50DMA, forming a wide-range candle with strong volumes. RSI looks bullish. ATH Resistance: ₹833.5 🚧 — if broken with volume, add more and trail your SL! 💡 Fundamentals: ROCE: 42.1% | ROE: 41.9% ✅ Market Cap: ₹5153 Cr PE: 129 😬 vs Sector PE ~32. (Expensive, but growth potential seems priced in.) Trend: Trading against the trend, so position sizing and risk management are key! 🚨 🛑 Disclaimer: This is not investment advice. Risk management is crucial, especially when trading counter-trend setups. 🚩 💡 Quick Take: With a W-pattern breakout, bullish RSI, and strong volume, this setup has potential. But the high PE ratio makes it an expensive bet. Sector comparison suggests caution, so treat this as a high-risk, high-reward trade! 🚀
NSE:KRNLong
by sagartharayil
3
Reliance Industries ltd - Finally sign of reversal!The current price action suggests that the market has reached a potential bottom, characterized by a reversal from a previous downtrend. This shift is confirmed as the price breaks upwards, moving decisively past a phase of consolidation or uncertainty. The Diamond Bottom pattern , a notable reversal formation, typically emerges after a sustained downtrend. Initially, the price action expands, forming higher highs and lower lows, creating a broad, widening shape. This phase indicates increased volatility and uncertainty in the market. As the pattern progresses, the trading range begins to contract, signifying a shift in market sentiment. The highs cease to climb, peaking out, while the lows start to rise, indicating a potential buildup of bullish momentum. The critical point in this pattern is the breakout above the narrowing boundary lines of the diamond. This upward breakout serves as a strong signal of a trend reversal, marking the transition from a downtrend to a new upward trajectory. Such a breakout often leads to a sustained bullish trend, supported by renewed buying interest and positive market sentiment. This reversal can be a significant opportunity for traders to capitalize on the shift in market direction. Other Positive Things [ b]ABC pattern seems to be complete as there is divergence in MACD , after which price to move at-least min 38.2% to 61.8% of Fibo levels DMI in verge of moving positive direction PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:RELIANCE
by hardeepssethi
Container Corporation of India Ltd (CONCOR) READY TO CONQUERContainer Corporation of India Ltd (CONCOR) provides inland container transportation by rail and manages ports, air cargo complexes, and cold chains. It has a market cap of ₹47,778 Cr. The company is almost debt-free and maintains a healthy dividend payout of 54.9%. Technical Analysis : Respecting its previous low and forming a triple bottom type structure. On the weekly chart, it has formed a bullish harami candlestick pattern in a downtrend, which is a confirmation to go long. With a very small stop loss of 25 point s, one can aim for the target mentioned and trail accordingly.
NSE:CONCORLong
by Vikrant_Mighty
1
Double Bottom Alert: NIFTY 50’s Turning Point? The NIFTY 50 is approaching a crucial technical zone, hinting at a potential reversal with a double bottom formation in play. Will the bulls seize this opportunity to rally, or will the bears maintain their grip? Key Points: 1. Resistance Zones: - 23,758.05 - 23,647.05 - 23,570.60 - 23,458.50 2. Support Levels: - 23,268.75 - 23,153.60 - 23,037.15 3. Current Setup: The NIFTY 50 is hovering near a critical double bottom area, a historically strong reversal pattern if validated. The price action suggests a cautious optimism, with significant resistance levels overhead. A breach of these levels could signal a breakout, while a failure to hold support may lead to further downside. How to Trade This: - Bullish Strategy: Enter long above 23,458.50, targeting 23,647.05 and 23,758.05. Use 23,268.75 as a stop-loss. - Bearish Strategy: Enter short below 23,153.60, aiming for 23,037.15 and 22,900. Place a stop-loss above 23,268.75. Bottom Line: The double bottom pattern indicates a potential turning point for NIFTY 50. However, confirmation of a breakout above resistance is key for bullish momentum. Watch the support zone closely for invalidation signals. NSE:NIFTY Only for educational purposes. This content is not a recommendation to buy and sell. Not SEBI REGISTRAR.
NSE:NIFTY
by thetradeforecast
Navinfluorine Looks Good!NSE:NAVINFLUOR The price appears to have found a bottom, signaling a potential reversal as it breaks upward following a phase of consolidation or indecision. The Diamond Bottom pattern typically forms during a downtrend, where prices initially create higher highs and lower lows, forming a broadening structure. Over time, the trading range narrows as the highs peak and the lows begin trending upward. A decisive upward breakout from the diamond's boundary confirms the reversal, marking the transition to a new uptrend. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:NAVINFLUOR
by hardeepssethi
Jan 7 Sensex expiry analysisPrice had a good move from 78000 to 80000. Price fall down from 80k and now it is near to the double bottom range support. 78k will act as the trend deciding zone. If price sustains above 78k bulls have a strong opportunity to make the price to move towards 80k Buy above 78000 with the stop loss of 77860 for the targets 78120, 78240, 78400, 78560 and 78800. Sell below 77720 with the stop loss of 77850 for the targets 77600, 77460, 77300, 77160 and 77040. Do your own analysis before taking any trade.
BSE:SENSEX
by vanathi
6
DOW JONES - SWING TRADESymbol - DJI DJI is currently trading at 42545 Dow Jones is making double bottom at larger time frame & I'm seeing a trading opportunity on buying side. Buying DJI Futures at CMP 42545 I will add more position if 42345 comes & will hold with SL 42100 Targets I'm expecting are 43100 - 43340 - 43580 & 42820 Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
DJ:DJILong
by akshit_official