EXPLANATION : This is a Daily time frame chart of M_M . The stock has been exact Demand zone , It has formed a Descending Triangle Pattern , Double Top Pattern on 4 hr time frame , If stock has been break the zone with high volume & Retest Demand zone , ( Support Become Resistance ) Go short . If taking Support at exact zone , I am seeing a very good buying...
Do not trade in between 35200 - 34755 .
Buy Above 35200 for the Targets marked on Chart
Sell below 34755 for the Targets marked on Chart
Make entries only when the price action is suitable respecting to the trendline
Take Entries when Market sustains above / below our levels
Avoid entries , if there is a Huge Gap Up / Gap Down
Take Entries as per Price...
Double Top, a bearish reversal chart pattern explained
What is Double Top Pattern ?
NSE:SBIN
Double top is a trend reversal chart pattern formed after good bullish price move (a continuous price move for a good duration) where the upward price movement looses its steam (first top) and it retraces a bit (to neck line or mid point). Then again it moves in...
The stock is forming a pattern and if it follows Double Top then it may test 600 levels.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
In the last trading session, BERGEPAINT breakout its recent support line which is the neckline of Double top pattern. After the breakout of this support burger paint may fall upto 707 level.
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
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If it breaks the support of 139.4, then it perfect for shorting as per Double Top Pattern.
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If it does NOT break the support, it maybe a trend reversal to the resistance or movement of price in sideways.
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Warning: Today is the quarterly earning result of COAL IND. Please ensure to look at that too.
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Have a different view,...
I already published this IDEA before in June 4. Please view it.
Whole Pharma was under pressure TODAY.
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Target 1. 475
Target 2. 470
Target 3. 450
Stop Loss @ 499
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IF YOU HAVE A DIFFERENT VIEW ,PLEASE SHARE, SO THAT I CAN IMPROVE MY LEARNING.
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THANK YOU
Sun Pharma
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DOUBLE TOP __1 day chart pattern
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APRIL 27 tested a new high (504.80) and failed to break it. Almost after month+ it has risen above to its Previous HIGH.
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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
STOP...
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
