Channel Pattern Breakout:
A channel pattern in technical analysis refers to the price movement of an asset within two parallel trendlines, with the upper trendline acting as resistance and the lower trendline acting as support. A channel pattern breakout occurs when the price of the asset breaks above the upper trendline or below the lower trendline.
When a...
EICHER MOTORS
Key highlights: 💡
✅On 1 hour Time Frame Stock Showing Reversal of Downtrend Channel Pattern .
✅ It can give movement upto the final target of Above 3275+.
✅Can Go short in this stock by placing a stop loss below 3191-.
1. Chance are less to continue this downtrend channel
2. We soon can expect a breakout
3. Sure Entry is after breakout/ Early entry has it high reward for early risk
4. RR is 1:8+
5. Price is also reversing from FIB 61 golden ratio
Nifty Currently Trading Downtrend Channel And After Long Time Nifty Testing Their Upper Band Resistance Zone. Upper Trendline Resistance Zone Placed Near ~ 17523, If Nifty Successfully Hold ~ 17523 Level Closing Basis You Can Buy With Stop ~ 17380, Target ~ 17830.
RESPONSIVE INDUSTRIES as per daily chart analysis today the stock has broken the resistance 121 and stock above 129 for a target 135. Tomorrow there will be a gap down or initial bearish candles in the early sessions. Watch out and trade profitably.
LA OPALA RG as per daily chart analysis has broken the down trend channel and stock above 426 level for a target 432 level. Tomorrow the nifty will go down initially and then bullish reversal will take place and market will continue to be bearish. Don't hold long positions.
JINDAL STAINLESS as per daily chart analysis had given downtrend channel breakout last week and had a brief consolidation for another break out today. The stock above 186 level for a target 196. Resistance 197 level.
SPECIALITY RESTAURANTS as per monthly chart analysis the stock was in continuous down trend channel and this month stock has once again moved up breaking the channel. Resistance 115 once broken then target 140 is achievable.
