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Banknifty analysis for 20/08/24.A flag and pole pattern formation is there on the charts. While market is trading around the resistance zone of the range. If there is a break out of the Flag, wait for the market to clear the resistance levels. A scalp can be made for small targets but intraday position should be initiated only once the upper levels are cleared. Moving average gate is being formed acting as a support for the market. Levels are marked on the charts. Trade only the markets not the emotions. Wait for the price action near the levels before entering the markets .
NSE:BANKNIFTY
by TheMamboMomentum
FinNIfty weekly expiry analysis for 20/08/2024.FinNifty is constantly testing the 20 ema and today also, it opened above the moving average but couldn't sustain the levels and closed below it. It has been trading in a range and is around the upper levels of the range. If there is a gap up opening around 23000 levels, there are chance of market reacting to the round number levels. And bullish entry can only be tested once the market makes a reversal after a profit booking on the levels. In case of a gap down opening below today's low, a bearish trade can be entered with target around the support zone of 22800. The market on the smaller time frame is forming a flag and pole pattern. It seems a bullish pattern and its break out can be traded. Major support levels :- 22825, 22655 Resistance levels :=- 23070, 23150 In any case break out of 23150 level can lead to a gap filling trade upto 23300 levels. Tomorrow is the weekly expiry and a break out after 2 O'clock can sustain. Wait for the price action near the levels before entering the markets.
NSE:CNXFINANCE
by TheMamboMomentum
ASSOCIATED BREWERIES BREAKING OUT FROM CUP AND HANDLE PATTERN The stock has been forming a cup and handle pattern lately and has given a good breakout on daily timeframe the consoldiation has been going on since october 2021 641 acted as crucial resistance which was breached recently with good volumes and momentum currently the stock is in post breakout stage and is forming a flag and pole pattern A solid upmove can be anticipated within coming weeks and the stock can rally till the 924 levvels like the flashing lights
BSE:ASALCBRLong
by keshavmaharaj958
1
Nifty Analysis: Potential Bearish Flag Pattern?The recent market activity suggests caution for Nifty as a potential bearish flag pattern might be forming. We've observed a "sell on rise" behavior over the past 3-4 sessions, indicating bearish sentiment. For Nifty to break free from this bearish spell, it needs to sustain above the 24,640 mark. Key Levels to Watch: Immediate Support: 23,940 Immediate Resistance: 24,390 and 24,490 Traders should keep an eye on these levels for any breakouts or breakdowns, as they will be crucial in determining the market's next direction. A decisive move above 24,640 could signal a shift in momentum, while failure to hold above this level may reinforce the bearish outlook. Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a financial advisor before making any trading decisions. Trading in financial markets involves risk, and past performance is not indicative of future results.
NSE:NIFTY
by Stable_Logic
Webelsolar - Flag and Pole Formation. Best above - 647#WebelSolar - What an excellent results delivered by this co. Blockbuster Q1FY25 👏 Solid turnaround 👍 Rev at 111cr vs 0.18cr, Q4 at 25cr PBT at 32cr vs -4cr, Q4 at -31cr PAT at 23cr vs-5cr, Q4 at -58cr Q1 EPS at 5.4rs The Stock has formed Flag and Pole pattern on the weekly charts One can enter above One can enter above 647 with strict stop loss of 537 Targets - 745/962/1150 Disclaimer : Educational Content. Please do your own research.
NSE:WEBELSOLAR
by jain_geetesh
5