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Downtrend

DATAPATTNS - 5 months consolidation / Downtrend Breakout Data Patterns (India) Ltd 1) Time Frame - Daily. 2) The Stock has been in a downtrend / consolidation since (September, 2023). Now It has given a breakout & Closed at it's 5 months High with good bullish momentum in Daily Time Frame. 3) Option 1 - With the strong 5 months consolidation breakout in Daily, Buy at this current level. Option 2 - Wait for the strong weekly candle's close above the price 2175.40. 4) Next target will be it's All Time High (2485). 5) Recommendation - Strong Buy
NSE:DATAPATTNSLong
by SHRIHARII
Banknifty: Bearish Trends and Cautionary SignalsBig Red Candle: Today's trading session witnessed a significant bearish movement, evident in the formation of a substantial red candle on the daily chart. EMA Confirmation: Adding to the bearish outlook, Banknifty closed below the 20 EMA, reinforcing the negative sentiment among traders. Short-Term Downtrend Signals: Lower Low and Lower High Lower Low Formation : Banknifty has created a lower low in the short term, coupled with a lower high, indicating a clear sign of a short-term downtrend. Cautious Optimism: Despite the bearish signals, we cautiously identify the 46900 zone as a potential bullish trend support, offering a glimmer of hope in the current market scenario. Exercise Caution and Watch Key Levels: High Probability of Downside: Acknowledging the strong likelihood of a downside movement, traders are advised to exercise caution and closely monitor market developments. Critical Level Alert: Today's low holds significant importance; a breach below this level may indicate unfavorable market conditions and should be considered a crucial signal for market participants.
NSE:BANKNIFTYShort
by iamrk7
2
NIFTY positional - 1000 pts move NIFTY index on a weekly timeframe, a notable diamond top formation seems to be developing. Historically, diamond patterns have often signaled significant price reversals. Based on this observation, a potential 1000 pts move could be on the horizon. Analysis: Diamond Top Formation : The diamond pattern, often considered a reversal formation, has manifested after NIFTY's bullish run. This pattern encapsulates a period of market indecision, with the price oscillating within converging trendlines. A decisive breach of these trendlines can indicate the future price direction. Bearish Scenario: If NIFTY breaks below the lower trendline of the diamond formation, a swift downward move can be expected. The depth of the diamond provides a hint at the potential move, which, in this case, suggests a 1000 pts drop. Supporting Indicators : The recent retest of the wedge and subsequent rally shows a strong bullish momentum. However, with the emergence of the diamond top, this momentum may be waning. A confirmation of the bearish view would be a decisive breakdown below the diamond's lower trendline, preferably with a spike in trading volume. Conclusion : While the diamond top formation suggests a potential bearish reversal, it's crucial to await a clear breakdown for confirmation. A 1000 pts move is significant, so traders are advised to be vigilant, employ risk management techniques, and consider other technical and fundamental factors influencing the market. Disclaimer: Technical analysis is based on historical price action and patterns. While patterns can give insights into potential future movements, they don't guarantee outcomes. Always trade with caution and employ proper risk management strategies.
NSE:NIFTYShort
by msk_analysis
2
Dow jones Look Good for Short* All the information shared in this chart is provided for strictly educational purposes only. * This chart is sharing information are based on the theory of technical analysis . * This is not an offer to buy or sell stocks, futures , options, commodity, forex, interests or any other trading security. * Back test yourself before jump into live market consult your financial adviser and use proper risk management. ------------------------------------------------------------------------------------ Mini Dow jones Level's ------------------------------------------------------------------------------------ SMC Selling area is near 34906 - 34930 And Short Area is 34906 Below this level 34765 free fall will start. ************************** Target down side ******************************** Trade : Sell between 34906 - 34930 SL will be 120-130 Points (35033) Target will be downside : 34680/34599/34483/34400/34311/34225 ____________________________________________________________ Visit Us for more details and follow us for more Education Analysis ____________________________________________________________ Trading_Cafe24 Thank you :)
CBOT_MINI:YM1!Short
by Trading_Cafe24
Solid Breakout in Tech Mahindra after a long Accumulation PhaseHello Traders and Investors, i hope you all will be doing good. I have brought an analysis on Tech Mahindra, i hope it will be beneficial to you guy's, So let's start:- As we have seen a Neat and Clean solid Breakout of Tech Mahindra stock after a long Accumulation Phase. Do you guy's know What is an Accumulation Phase? Okay i will write what i know about it. Notable Characteristics of Accumulation Phase:- It shows that strength is building into security. The security starts trading in a well defined range, moving between the upper and the lower band of the consolidation. Market participants start becoming bullish on security in the accumulation phase. The Price starts moving in a range indicating that the price of the security is bottoming out. This phase indicates that a fight is happening between buyers and sellers and eventually, buyers take over sellers towards the end of this phase. So guy's i think this (Accumulation Phase) is clear now. So, Guy's same thing we have seen in Tech Mahindra stock also, earlier trend was Downtrend then Accumulation Phase, now as we have seen a breakout in it. So we can assume that now the trend will shift in uptrend. I have marked everything on chart like, Entry point, Targets and Stop loss. Please check chart for the levels. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:TECHMLong
by TraderRahulPal