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Stock Alert: IDFC First BankPotential breakout in the making! IDFC First Bank is showing a flag and pole pattern on the weekly timeframe, which indicates a strong continuation signal. This pattern generally forms after a sharp price move (the "pole") followed by a consolidation phase (the "flag"). We are now approaching a potential breakout point. 🔍 Key Highlights: Pattern: Flag and pole Timeframe: Weekly Potential breakout zone: Trendline Volume activity: Watch for a volume surge during the breakout. If this breaks out, we could see strong upward momentum. Keep an eye on this stock!
NSE:IDFCFIRSTB
by TechnoTrader10
M_M - Flag and Pole - WklyM_M - Flag and Pole - Wkly Let's analyze the key aspects: 1. Overall Trend: The stock has been in a strong uptrend since early 2023, with significant acceleration in late 2023 and early 2024. 2. Recent Price Action: - The stock recently broke out of a consolidation pattern (labeled "Flag and Pole" on the chart). - Current price is 2,950.85 INR, up 7.73% on the day. 3. Key Patterns and Levels: - A "Flag and Pole" pattern is identified, which is typically a bullish continuation pattern. - The breakout from this pattern suggests further upside potential. - Previous resistance around 2,739.95 INR may now act as support. 4. Price Targets: - The chart shows two potential targets: a) 3,013.50 INR (recent high) b) 4,160 INR (labeled "Can test 4160") - These targets represent potential gains of 68.55% and 41.73% respectively from the breakout point. 5. Volume: - Trading volume has been relatively consistent, with some spikes coinciding with major price moves. 6. RSI (Relative Strength Index): - The RSI has been declining recently despite the price increase, indicating potential divergence. - This could suggest the momentum might be slowing, but it hasn't affected the price negatively yet. 7. Long-term Support: - A long-term ascending support line (yellow) can be seen from early 2023, which the price has respected multiple times. Overall, the chart presents a bullish outlook for Mahindra & Mahindra Ltd. The recent breakout from the flag pattern, coupled with the strong overall uptrend, suggests potential for further gains. However, traders should be cautious of the RSI divergence, which could indicate a potential slowdown or pullback in the near term. The next key level to watch would be the recent high of 3,013.50 INR.
NSE:M&MLong
by DailyCharts03
1
Godrejpro reverse bullish flag patternVery good breakout in the reverse bullish flag pattern. Day candle with good volume too. Follow the target study in the chart. Looking very strong. Special diwali pick. Keep this in mind. Options is a dangerous instrument to play. Please do not go wild on anything unless you know exactly what you doing. Even though your direction is right still you tend to loose in option buying. And market can always prove me wrong and i take that rights too. Experience traders also fail in this market. Only risk management will give you an edge. Don’t take any trades without SL. Respect the market, Ungli nahi katoge to pura hath katna padega. Beware. DISCLAIMER: I AM NOT SEBI REGISTERED ANALYST. ALL POSTS ARE EDUCATIONAL PURPOSES.NON ADVISORY, DISCRETIONAL NO CLAIMS, RIGHTS RESERVED. I AM NOT RESPONSIBLE FOR YOUR PROFIT OR LOSS.
NSE:GODREJPROPLong
by ashishhc
Bankex - Sep 16Price consolidated and formed bull flag. This pattern will be valid if it sustains above 59000. Pattern : Bull flag. Range : Medium. Trend strength : Normal. Buy Above : 59020. Stop Loss : 58920. Targets : 59220, 59300, 59380, 59460 and 59560. Sell below : 58820. Stop Loss : 58900. Targets : 58720 ,58620, 58520, 58400 and 58320. Check the live market updates. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
BSE:BANK
by vanathi
Bullish Breakout: THE INDIA CEMENTS LTD (INDIACEM)THE INDIA CEMENTS LTD (INDIACEM) appears to be in an uptrend. The price has been consistently making higher highs and higher lows, indicating bullish momentum. Additionally, there's a potential flag pattern forming, which can signal a continuation of the uptrend after a brief pause. Entry: Breakout: Wait for the price to break out of the flag pattern to the upside, with increasing volume. This could confirm a bullish breakout. Disclaimer: This analysis is based on historical data and technical indicators. It does not constitute financial advice. Always consult with a financial advisor before making investment decisions.
NSE:INDIACEMLong
by supertraders_india
Asianpaint near to flag pattern breakoutAsian paint is very near to the bullish flag breakout. Short term targets and long term targets are both clear. Please follow the chart levels. Will keep updating the post. Keep this in mind. Options is a dangerous instrument to play. Please do not go wild on anything unless you know exactly what you doing. Even though your direction is right still you tend to loose in option buying. And market can always prove me wrong and i take that rights too. Experience traders also fail in this market. Only risk management will give you an edge. Don’t take any trades without SL. Respect the market, Ungli nahi katoge to pura hath katna padega. Beware. DISCLAIMER: I AM NOT SEBI REGISTERED ANALYST. ALL POSTS ARE EDUCATIONAL PURPOSES.NON ADVISORY, DISCRETIONAL NO CLAIMS, RIGHTS RESERVED. I AM NOT RESPONSIBLE FOR YOUR PROFIT OR LOSS.
NSE:ASIANPAINTLong
by ashishhc
5
Industower - Few things happening hereIndustower is currently exhibiting a bearish trend with several concerning signals: a fake breakout, a bearish flag breakdown, and the formation of lower highs. Traders should be cautious as these indicators suggest a potential continuation of the downtrend. The fake breakout implies that the recent upward move lacked genuine strength, while the bearish flag breakdown reinforces the bearish sentiment. Additionally, the pattern of lower highs signals weakening bullish momentum. However, if the stock moves above 440, this bearish view could be invalidated, indicating a potential reversal or strengthening of the bullish trend. Monitoring these factors closely and adjusting strategies accordingly will be crucial.
NSE:INDUSTOWER
by TradePatternsLikePro
Kotak Bank a weekly bull flag formationTraders should keep a close watch on Kotak Mahindra Bank, as it has formed a bullish flag pattern on the weekly chart, signaling potential for a significant breakout. The key levels to monitor are around 1860-1870, where a breakout could trigger strong upward momentum. The longer the consolidation within the flag, the more powerful the breakout may be, offering an opportunity for swift price movement. With strong technicals in place, traders should be prepared to act quickly once the price breaches the resistance zone, as the post-breakout rally could accelerate rapidly. Stay vigilant and ready to capitalize on the move!
NSE:KOTAKBANK
by TradePatternsLikePro
Edelweiss - Multiple confluence points - Cup&handle, Flag patterEdelweiss is at multiple confluence points at monthly time frame - it has made cup & handle patter, flag pattern and a rectangular pattern. A breakout of the stock will definitely looking to move upwards. Other factors: 1. See volumes - building / consolidating 2. MACD is improving 3. RSI is above 60 4. Fundamentally also, good Q1 result, selling stake for 1.5k - 2k crores, improvement in processes and we can RBI restrictions moving away Keep in your radar "Cleaneasycharts" Right Stock at Right Time at Right Price!! Cheers!!
NSE:EDELWEISSLong
by Cleaneasycharts
1