Case Study: Kotak Mahindra Bank Breaks Long-Term Trendline (W)Pattern: Long-Term Trendline Break
Stock: Kotak Mahindra Bank
Timeframe: Weekly
Status: Trendline broken with volume confirmation
Pattern Characteristics:
The stock has tested the long-term trendline 5 times in the past, failing to break through.
Finally, it has broken above the trendline with a significant spike in volume, indicating a strong momentum shift.
Key Observations:
Resistance Trendline: The stock has been consistently rejected at this trendline for months but now shows a clear breakout.
Volume Confirmation: The breakout was supported by a noticeable increase in trading volume, which adds confidence in the validity of the move.
Breakout Implications:
1) Bullish Confirmation:
A clean break above the long-term trendline suggests that the stock could enter a new bullish phase.
The volume spike suggests strong buying interest.
2) Watch for Retest:
Sometimes, stocks retest the broken trendline. If it holds as new support, that’s another strong signal of continued upside.
Trading Strategy:
Entry: Consider entering on a pullback or retest of the broken trendline, or ride the momentum if it continues.
Stop Loss: Place a stop loss below the trendline in case of a false breakout.
Target: Set targets based on previous resistance levels or recent highs on the weekly chart.
Community ideas
BHEL Picture Abhi Baki Hai (The Show is not Over Yet)BHEL has been in impulse wave since 2020 & is completing Wave 3 of lager wave (3) so 1 more wave looks pending a close above 280 would be first sign of correction has ended & the recent low was wave 4 which ended in ABC in a irregular flat or we might make a new low but should end between 234-224 right now shorts are not a good idea in current wave structure.
Bandhan Bank: Momentum Builds, Can It Break Resistance?Technical Analysis of Bandhan Bank:
Bandhan Bank is currently in an accumulation phase, characterized by relatively high trading volumes. The stock is showing strong weekly momentum, suggesting potential upward movement. Key resistance levels have been identified, with Resistance 1 at 258 and Resistance 2 at 345. However, with the Nifty index trading at its peak, a broader market correction could make these targets harder to reach in the near term.
Disclaimer:
This analysis is intended for educational purposes and is not a recommendation to buy. It is important to learn how to recognize and understand patterns in stock movements.
Hariom Pipe CnH and RetestHeadquartered in Hyderabad, Telangana, Hariom Pipe Industries Limited is an integrated steel manufacturer with a stronghold in the South Indian market. It hasa diverse product portfolio consisting of Mild Steel (MS) Billets, Pipes and Tubes, Hot Rolled (HR) Coils, and Scaffolding Systems.
Technically chart is forming CnH Pattern and retested the BO levl of 740. Currently hovering around 760. The CnH pattern is showing a tgt of 1000+
FII holding increasing, Good sales growth and ROCE. overall good fundamentals.
The only negative is increasing debt. Please do ur own analysis before investing.
**MFSL has formed a bullish rounding bottom**MFSL has formed a bullish rounding bottom, indicating a potential reversal. The recent breakout above 1,150 confirms this pattern.
Key points:-
Upward Trend: The stock's price is trading above its 50-week moving average, suggesting a positive long-term trend.
Breakout Confirmation: The successful breakout from the rounding bottom pattern reinforces the bullish outlook.
Volume Support: The surge in trading volume accompanying the breakout indicates strong buying interest.
Recommendation:
MFSL is a potential buy With short-term targets of 1,250 to 1,350. For long-term investors, holding the stock could potentially give greater returns.
A Bullish Breakout Analysis of Alkyl AmineAlkyl Amine stock has recently exhibited a noteworthy price action following a consolidation phase that extended beyond 1,000 days. The stock has successfully retested a pivotal support level and demonstrated a robust bounce, closing above this key level, accompanied by a significant surge in buying volume. This development is indicative of a potential shift in the trend towards a bullish posture.
From an Elliott Wave analysis perspective, the stock appears to be in the early stages of a wave pattern. This observation aligns with the bounce occurring at the 61.8% Fibonacci retracement level from the most recent higher high, suggesting a critical change in momentum.
Further validating the bullish outlook, momentum indicators such as the RSI and the MACD are showing favourable signals on both the daily and weekly timeframes, reinforcing the likelihood of upward price movement.
In terms of potential price levels, the current-demand zone is identified between 2305 and 2349 . Should the stock succeed in closing above the initial resistance level at 2484 , the next resistance levels to monitor would be at 2848 , 3162 , and ultimately 3526 .
Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making any investment decisions.
Dixon - Hormonic patternDixon hit our hormonic reversal area, high probability set up, these will be potential hormonic reversal zone of Dixon 14275 & 14430, Rsi also nearly 70+ volume also decrease price will increase so that meaning of Uptrend not supported by volume. Exit Long entry upon further sign of reversal. Education purpose only.
Bullish Momentum in Welspun Specialty Solutions Ltd.Penny Stock with Multiple Channel Breakouts
Details:
Asset: Welspun Special (WELSPUN)
Breakout Level: Sustained move from ₹40 to ₹58 with weekly channel breakouts
Potential Target: Continued upward momentum
Stop Loss: Below current breakout levels or as per risk tolerance
Timeframe: Short to medium-term
Rationale: Despite a minor decline in Y-o-Y net sales for June 2024 (₹162.10 crore, down 0.45%), Welspun Special has shown strong bullish momentum, rising from ₹40 to ₹58 in a few months. The stock is experiencing multiple weekly channel breakouts, indicating continued interest and upward potential.
Market Analysis:
Technical Breakouts: Multiple channel breakouts each week suggest sustained bullish momentum, with the stock steadily climbing despite fluctuations in its financials.
Penny Stock Opportunity: As a penny stock, Welspun Special offers high volatility and upside potential, making it a speculative but attractive play for investors looking to allocate a small portion of their portfolio.
Company Performance: While net sales show a minor decline, the stock's technical pattern and market interest seem to outweigh short-term performance.
Price Target:
The target is open, based on the continued upward trend and multiple breakout patterns. Investors could see further gains beyond ₹58, depending on market conditions and momentum.
Risk Management:
Given that Welspun Special is a penny stock, investing no more than 0.5% of your portfolio is a prudent risk management strategy. This allocation mitigates potential losses while allowing exposure to a high-growth opportunity.
Timeframe:
The timeframe for this idea is short to medium-term, but with potential long-term gains depending on how the stock continues to perform.
Risk-Reward Ratio: With high volatility, the risk-reward ratio should be carefully assessed. Only a small portion of the portfolio should be allocated due to the speculative nature of penny stocks.
As with any high-risk, high-reward investment, perform thorough research and consider risk management strategies before investing in penny stocks like Welspun Special.
CENTURYPLY - Breakout Cup patternCENTURYPLY has shown a strong bullish breakout from a cup and handle pattern, which suggests a potential continuation of the uptrend. The increase in volume during the breakout supports this bullish sentiment.
Key Observations
Cup and Handle Formation: The chart appears to be forming a "Cup and Handle" pattern, which can often signal a bullish continuation after a period of consolidation.
Breakout: The stock has recently broken above the handle of the cup, indicating a potential bullish breakout.
Volume: The volume has increased during the breakout, supporting the bullish momentum.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. The author is neither a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index, or any other financial instrument at any time.
Pheonix - How to draw TrendlineTrendlines are easily recognizable lines that traders draw on charts to connect a series of prices together or show some data's best fit. The resulting line is then used to give the trader a good idea of the direction in which an investment's value might move.
Trendline in combination of candlestick pattern helps in confirmation of important support and resistance levels. Important points while drawing a trend line.
It should not be toos lant.
Two or more points should a reasonably away from each other.
I hope this post helped you in learning Trendline.
IFCI - Multiyear Breakout - MonthlyIFCI - Multiyear Breakout - Monthly
Multi-Year Breakout: The chart indicates a multi-year breakout with strong volume, suggesting a potential long-term uptrend.
16yrs high Breakout: Neckline marking a 16yrs breakout, which could be a shorter-term confirmation of the trend.
Support Level: The low of the breakout candle is marked as a support level at 59, which can be a critical point to watch for potential pullbacks.
This setup looks promising for those interested in technical analysis and long-term investments.
IFCI, previously known as Industrial Finance Corporation of India, is an Indian Government owned non banking finance company established to cater to the long-term finance needs of the industrial sector.
IFCI Ltd. recently announced its Q1 results for the period ending June 30, 2024. Here are the key highlights:
Revenue: The company reported a revenue of ₹4,051.2 million, up from ₹3,243.6 million in the same quarter last year.
Net Loss: The net loss decreased to ₹1,082 million from ₹1,399.8 million year-over-year (YoY), marking a 24.64% improvement.
Earnings Per Share (EPS): The EPS for Q1 stands at ₹-0.44, a decrease of 4.34% YoY2.
Operating Income: Despite a 90.05% quarter-over-quarter (QoQ) decline, the operating income increased by 106.82% YoY.
SG&A Expenses: Selling, General & Administrative expenses saw a reduction of 29.44% QoQ and 8.04% YoY.
These results indicate that while IFCI has made significant annual progress, it faced challenges in the most recent quarter. The reduction in SG&A expenses suggests improved operational efficiency, but the decline in EPS highlights ongoing profitability challenges
Creative Castings cmp 929.70 by Weekly Chart viewsCreative Castings cmp 929.70 by Weekly Chart views
- Price is riding well over Rising Support Trendline
- Volumes surging regularly over the past few weeks
- Closely Darvas Box pattern along with Rounding Bottom
- Weekly basis Support at 825 > 710 > 605 with Resistance at 1015 >>> ATH 1195.75
#Nifty directions and levels for September 16th.Good morning, friends! 🌞 Here are the market directions and levels for September 16th.
Market Overview:
Global markets are showing a moderately bullish trend, as indicated by the Dow Jones, and this sentiment is reflected in our local market as well. Moreover, today’s market is expected to open with a gap-up, with SGX Nifty indicating a positive move of around +50 points as of 8 AM.
Nifty:
Current View:
There haven't been any major changes to the market sentiment since the previous session, as Nifty closed with consolidation. Structurally, this suggests we could be in the 4th wave. Now, if the market opens with a gap-up and sustains it, we can expect a 5th impulse wave. The targets for this wave are likely between 25,452 and 25,587.
> It’s important to note that the 5th wave is typically a distribution wave. So, if the market breaks the immediate resistance with a strong candle or after some minor consolidation, the rally could extend further, potentially reaching 25,587. On the other hand, if the market reaches the resistance gradually, it may not gain as much momentum, and the maximum level to expect would be 25,492.
Alternate View:
If the gap-up doesn’t hold or the market declines initially, we may see a correction of around 23% to 38%. Following this, if the market finds support near the 38% Fibonacci level, it could consolidate between this level and the previous high. However, if the market breaks below the 38% level, the next target would be at the 50% Fibonacci level. Still, further correction will only continue if the market decisively breaks below the 50% Fibonacci level.
TIINDIA - Bouncing Back from Channel Support🔊 TIINDIA - Bouncing Back from Channel Support
TIINDIA - TUBE INVEST OF INDIA LTD
⌛Trade Type - Short Term (1 month to 3 month)
📊📈 Trade Logic - Bouncing Back from Channel Support
CMP - ₹4098
Time Frame - Weekly
🎯Target 1 : ₹4400
🎯Target 2 : ₹4600
🎯Target 3 : ₹4800
🛑 Stop : ₹3850
🏆 Risk/Reward Ratio (1: 2.5)
Disclaimer: The stock information shared above is not a recommendation to buy, sell, or hold. It reflects my own analysis and is intended solely for educational purposes. Any actions you take based on this information are your responsibility, and the admin of this channel is not liable for any financial gains or losses. Please consult a financial advisor before making any investment decisions. I am not a SEBI-registered advisor.
Everest Kanto .. multiple technical Aspects!!!Hello 👋
It's a packaging industry stock.
* Stock is in uptrend
* Multiple technical confirmations..
* 2 Cup & Handle marked on chart
* Also it's inverse H & S pattern.
* Strong volumes since few weeks as FIIs increased their holdings
* Price steadly going towards upper channel. Trend line also broken and retest.
* If price sustain above 207, can go towards next pivots as 238 & 247..and support is at 175 - 148 range
* Stock already moved 10% yesterday..
It's my view plz DYOA. No buy or sell recommendation 🙏
Please boost my idea if you find it useful 😉
Thank you.
MTNL Stock is Ready for Big Up move 50%NSE:MTNL
Stock is Ready for Big Up side move...Retest Done...Vol. very less in falling phase...now above 75 we can expect strong up move till the 2nd Target Zone. In the Next 8-12 month we can expect Target of 200+ if market situation will be good.
On the Fundamental prospective lot's of thing happening with the company. We can expect some good development on this side in the upcoming month by the government.
Fallen from Grace...will it regain its Samman??Sammaan Cap CMP 168.41 - Investors
Formerly I Bull Housing Finance. This stock has had a huge plunge. IT lost all its samman. Here are the reasons to buy it.
Fibs- the full retracement to 61.8% of the swing is an indication that bears are loosing their grip.
Elliott- this could be start of the 3rd wave. Could be co there can be many one and twos before the 3rd comes.
RSI- Taking support above the bull zone. Also now taking support above the falling trendline.
Volume- it is showing slow accumulation.
MA- the longer MA support is just under the current price.
Candlestick - thats a key reversal a directional buy signal.
Double Bottom - we have a directional buy signal right at the bottom.
Conclusion - I am pretty bullish on Housing finance and NBFC's in my view this is a very good buy at CMP for the reasons mentioned above. Buy and hold.
Adani Greens Date 14.09.2024
Adani Greens
Timeframe : Weekly
Remarks :
1 Previous descending triangle's neckline is current 50% of Fibonacci
2 Forming diamond pattern in-between 50% & 61% of Fibonacci
3 Breakout at 61% + diamond pattern exit
4 Breakdown at 50% + diamond pattern exit
5 Exit after diamond pattern & 50%/61% & exit from fibo circle of 161% extension will generate 30%-40% rally either side without doubt
Regards,
Ankur
Hard trade on AdaniENT- neckline is too broadIs the stock ready to give a solid breakdown again? With such a broad neckline and the inherent volatility of Adani Enterprises post-Hindenburg, traders need to be cautious. This pattern suggests a significant move could be coming, but whether it will break down further or consolidate depends largely on how the market digests both technical levels and any further fundamental developments around the company.
