Aisan Paints is forming a double top pattern in 1H time frame. Resistance at 2240-2245, Once the resistance is broken you can enter and the resistance should act as support. Earnings reports were also good with2.66 which is 28% above the expected returns. If the resistance is not able to break the enter a short position for a target of 2160.
Symmetrical triangle formation , If breakdown then ignore
Big volume , RSI is already uptrend
Wait for the perfect breakout and retracement
Target is based on the resistance
LOT SIZE = 10
pure Price Action Analysis
FOLLOW FOLLOW FOLLOW
LIKE LIKE LIKE
COMMENT COMMENT COMMENT
In today's Trend it has been observed that the Script has touched and faced a hurdle at this Trerdline near 470 and could not sustain. the Stock has made Double Top and Double Bottom Format so now it's positioned at a stage where it can give a Breakout or Breakdown.
So be Long if Crosses 475 for the Targets of 480-485-490 Targets.
Go Short if Sustains below 456...
Heavy resistance @ 149.70
If it breaks the support of 139.4, then it perfect for shorting as per Double Top Pattern.
If it does NOT break the support, it maybe a trend reversal to the resistance or movement of price in sideways.
Warning: Today is the quarterly earning result of COAL IND. Please ensure to look at that too.
Have a different view,...
I already published this IDEA before in June 4. Please view it.
Whole Pharma was under pressure TODAY.
Target 1. 475
Target 2. 470
Target 3. 450
Stop Loss @ 499
IF YOU HAVE A DIFFERENT VIEW ,PLEASE SHARE, SO THAT I CAN IMPROVE MY LEARNING.
DOUBLE TOP __1 day chart pattern
APRIL 27 tested a new high (504.80) and failed to break it. Almost after month+ it has risen above to its Previous HIGH.
I would go SHORT around " IF THERE IS ANY RESISTANCE AROUND IT'S PERVIOUS HIGH OR IF THERE IS A SIGN OF A NEGATIVE CANDLE
( HANGING MAN ) IN THE NEXT FEW DAYS"
TARGET__ 475- 450
As clearly shown on charts, Mindtree is currently facing weekly timeframe resistance
1) Momentum loss clearly seen
2) RSI below 60
3) Double Top Formation
4) Negative Divergence seen on daily charts
Confirmation of the pattern if 880 Broken, One can enter into positional long for a target of 730
pic speaks a lot... but now only I have few words left.. here u go....
1) a double top in 1W..
2) 4hr a trend reversal is confirmed
3) 30 min a LH formed and started a fall.. hit 1st target.
4HR - target -- 1) 1.40082 (already hit the target.)
THE SCRIPT IS IN UPTREND ON HOURLY AND 30 MINS CHART. IT HAS CREATED A DOUBLE TOP AND THE PRICE IS EXPECTED TO FALL ON THE TREND LINE. IF IT BREAKS THE TREND LINE THE GO FOR SHORT OTHERWISE WAIT FOR THE DOUBLE TOP BREAKOUT.
TCS has gradually formed Double Top which is slanted. Historically, double top has a bearish outlook. A reason which may prove extraneous and therefore may invalidate Double Top could be Q3Y20 results. If results surpass majority of expectations then TCS may bouce back
Double Top pattern spotted in Infy. Pattern is confirmed as price has fallen below the neck level. Thus the stock can be expected to fall to 720.
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