Short Term Buy TECHMStock was under long term Consolidation at low levels which means under Accumulation,
#TechM #Brokeout the range, retest done and now it will resume its trend.
Pure #TechnicalAnalysis #DowTheory #WyckoffTheory
Dowtheory
Mastering Trade Setup with simplicity of dow theorySimplifying Trade Strategies with Dow Theory Wisdom
Welcome to the world of trading, where the Dow Theory can be your trusty guide. Let's break down an easy trade strategy that suits different market situations.
Dow Theory Insights
Dow Theory, a key tool in technical analysis, says understanding trends is crucial. Figuring out the trend is where we start, setting the stage for smart trade decisions.
Bullish View
If we're feeling positive
Higher Lows: Check if prices keep going up.
Near Support: Make sure prices are close to a support zone.
Reversal Signs: Look for any candle patterns signaling a turnaround.
Buying Setup:
Stoploss: Think of it like a safety net, set it at the recent lowest point.
Execute a buy trade when these factors line up, always keeping an eye on that stoploss.
Bearish View
If we're feeling negative
Lower Highs: Check if prices keep going down.
Near Resistance: Make sure prices are close to a resistance zone.
Reversal Hints: Look for any candle patterns signaling a potential shift.
Selling Setup:
Stoploss: Your safety measure, set it at the recent highest point.
Execute a sell trade when these conditions come together, always mindful of that stoploss.
Sideways View
For a market that's just hanging out
Draw Lines: Sketch lines above and below the current prices (Support and Resistence Trendlines)
Be Patient: Hang tight until prices break above or below those lines.
Only jump into a trade when the market decides where it's going.
In the lively world of trading, Dow Theory keeps us wise. By using these strategies, along with clever stoploss placements, you can navigate the markets with ease
This post is for educational purposes only. Trading involves risk, and past performance is not indicative of future results. Always do your research and consider consulting a financial advisor before making any investment decisions. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
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!!!!
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 !!!!
How to read long term short term market structureHow to read long term short term market structure. Many time we confused with short term moves and start planning long term trades so both must be read separately.
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
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📈
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
Nifty Dow theory- How it worksNifty Dow theory- How it works. We should follow higher highs and concept of Dow theory without any panic or fear
IOLCP Time to GET IN ??!!!Chart pattern just explains the situation
Reasons
1. Dow theory respected.
2. Breakout with volume .
3. At 4 year old Support Trendline(from 2018).
Target & SL levels mentioned @ chart !!!
Let's wait & watch how it moves!!!!
Note - Just Sharing my view....not a tip nor advice!!!
Dow theory - 3 kinds of trend1. Primary trend (9months to 2 years)
2. Secondary trend (6 weeks to 9 months)
3. Minor trend (few days to few weeks)
> Black line is the primary trend
> Green lines are an example of a secondary trend.
> Blue lines are minor trend.
Always trade with harmony of a primary trend.
Note : only for learning.
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.
Deepak Nitrate - Bullish patternDear Chartist, trader and investor,
Deepak Nitrate is moving upward and follow the Dow Theory Tenant - Higher High and Higher low and today break the previous high and entered into suppliers zone.
Waiting for through back and then entered into a long position.
All the details are mentioned in charts.
Gujarat state petronet confirmed uptrendwe can see formation of higher highs and higher lows
and moving average crossover with good volume breakout
PI INDUSTRIESFocus PI industries makkale, W pattern formed wait for confirmation then enter the trade. As i always say whatever we do must follow risk reward and money management rules.
AUBANK AT CHANNEL SUPPORTVannakm makkale, this is Vijay. We got an oppurtunity in aubank,closely watch and wait for reversal candle then enter for swing or positional.
Share with your friends nd follow makkale.
Thank you for following and if you have any questions comment below.
NTPC SUPPORT AREANTPC taken support. BE cautious with trade because market is heavy volatile day by day.
AARTI INDUSTRIES VIEWVanakkam Makkale, long time no see😂😂. Yep but market is still volatile only, anyway we got Aarti Industries for swing or short term but with proper stoploss. As i always say whatever we do must follow risk reward and money management.
Thank your following and if u have any doubts, do comment below😊❤
SHREE CEMENT VIEWVannakam makkale. Seems like Namma Shree Cement took support maximum 18300 to 18400 range good support ah irrukum.
Let's see and can accumulate first 30% here but still crudeoil price surge short to mid term la issue ah irrukum but long term la pricing power to top companies vanthuruvanga.
Any doubt and questions means kindly comment below. share with your closed ones. Thank you!!
DR. LALPATH LAB FOCUSExpecting 14% ROI in DR. Lalpath lab scrip. But wait for the confirmation or enter at lower levels. And also don't forget market is still in bear grip so always set stoploss and follow money management.
Thank you for following and share max.
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 ❤
AXIS BANK BULLISHFocus Axis Bank makkale. Long term accumulate panaravanga take a view and also focus for swing and short term with strict stoploss.
Still NIFTY is in SELL ON RISE trend,so manage the risk.
Thank you for following.
