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RELIANCE to Dip via Inverted Cup & Handle ??!!Chart patterns look good for a short trade in Reliance industries REASONS 1. RELIANCE has been trading inside an Ascending Channel and currently it is down under its Downswing move inside the channel 2. There is a Monthly breakdown (shown in chart) out of a 5 year old trendline support Monthly timeframe chart below - 3. In weekly chart shown below, we can clearly witness lower high and lower low formed recently confirming Bearishness!! 4. In daily timeframe , it is trading in the form of an Inverted Cup & Handle and its due for Breakdown!! 5. Target levels mentioned as Horizontal dashed green lines 6. SL can be day candle closing out of the purple slanting trendline 7. Safe Entry can be after 2hr Breakdown out of the Inverted cup & handle pattern. Let's wait & watch, how it moves!!! NOTE - Just Sharing my View....not a tip nor advice!!!!
NSE:RELIANCEShort
by mmjimm
5
MSTC Looking Good to go LONG ??!!!Chart insist me to go with the above titled opinion.... Reasons : 1. Stock has been respecting the expanding triangular pattern . 2. MSTC has given BREAKOUT with extra ordinary volume on 28th November. 3. Respecting the DOW theory and has formed HIGHER LOW and then BREAKOUT. 4. REVERSAL from perfect trendline Support . Target and SL mentioned in chart... High risky SL can day candle closing below the green bottom trendline. Ever since the Breakout , its been in tight consolidation and retracement....RIGHT TIME FOR ENTRY!!! Let's see how its going to move!!! Note- Just Sharing my view...not a tip nor advice !!!!
NSE:MSTCLTDLong
by mmjimm
TITAN- Hidden Bearish Divergence SELL!Attached: TITAN Daily Price Chart as of 22nd March 2023 Price has triggered a SELL Signal today on account of the following reasons: 1) Hidden Bearish RSI Divergence as RSI puts in a Higher High but Price puts in a Lower High 2) Price has come back to Retest a Prior Support Zone which now can act as Resistance 3) Dow Theory Structure of Lower Highs and Lower Lows still intact so it is a Down Trend and NO Trend Reversal yet 4) Elliot Wave Count suggest Price is ready to start Wave Z down of its complex correction Our Plan of Action is: Short at Current Market Price= 2508 Stop Loss > 2550 for Downside Target Open to 2270
NSE:TITANShort
by T_Harth
BPCL- Bullish HARMONIC Buy Signal!Attached: BPCL Weekly Chart as of 17th March 2023 Going by Harmonics: A Bullish Anti Bat Pattern has got activated with this Week's Bullish Power Candle Close above 350. This is a BUY signal!🚀 Going by Dow Theory: We see that Price has also put in its First Higher Low of 314 since the Lows of 288 back in October 2022. This is a Sign of a Trend Reversal Structure. The Prior Trend was DOWN on the Weekly TF. Now it appears the Trend is turning on the UPSIDE. Coming back to the Harmonic Pattern, our Plan of Action for a Positional Trade is: Buy Entry triggered at Current Market Price of 351✅ Stop Loss can be placed below 52 week low which is ~ < 288⚠️ Upside Targets🎯 as follows: T1= 380 to 400 T2= 480 to 500 T3= extension beyond 500 level, towards Prior ATH / New ATH (Also do check out my related idea on BPCL which looks at the Daily TF) ........... If I were to talk about some Fundamentals, then BPCL also has a 4.5% Dividend Yield which is quite Attractive in a Rising Interest Rate Environment that the Global Economy currently is in And so it is also a Buy if you consider the Dividend along with a Capital Appreciation potential📈
NSE:BPCLLong
by T_Harth
Bank Nifty- Bearish HARMONIC Trouble!Attached: BankNifty Weekly Chart as of 17th March 2023 A Bearish Anti Gartley Pattern had got activated in Bank Nifty on the 23rd Jan Weekly Candle Sell Off (Big Red Candle that caused a 5%+ decline) Since then there has been a follow up as Price continues to make Lower Highs and Lower Lows as evident in the Weekly Candles that have followed This Week's Candle has also closed below the round figure mark of 40,000 Conclusion: BankNifty is in a Bear Market just like Nifty 50 (see my other ideas for the same) HOLDING BELOW 43,000 A DOWNSIDE TARGET of ~ 34,000 in the Bank Nifty is Open
NSE:BANKNIFTYShort
by T_Harth
New Low in Bank Nifty not confirmedClassic dow theory states that a new low in one index not confirmed by others indicates a potential trend reversal on cards. Nonconfirmation amounts to inter-market divergences that are bullish or bearish. In this situation, the new low in bank nifty today over the last few days is not confirmed by the Nifty. Even more, the outperformance of the Midcap 100 index below compared to the large cap indices shows that the broad market is not participating in the recent fall. All signs of bullish divergences. Ahead of the Union budget, the market is shaking out weak hands. The near triple bottom in Nifty is an interesting setup for the weeks ahead.
NSE:BANKNIFTYLong
by indiacharts
5
DABUR ACCUMULATIONVanakkam Makkale,this is VIJAY. Hope you all know that this year going to be a year for accumulation and also enter after the confirmation As per technical Dabur reaching near super demand zone and also fibonacci golden area is there. But i suggest you"ll to read Dabur's fundamental and it's annual report before you're accumulating. This will be useful for the one who already did fundamental analysis but waiting for technical analysis. Thank you for following and comment your thoughts and questions below. Share to your friends and family.😊 Love you Makkale ❤
NSE:DABUR
by trade_withpriceaction