Hello Traders & Investors,
I have brought another analysis on Symmetrical triangle pattern breakout. Well this almost similar to Triangle pattern, but in this lower band trendline act upward sloping support in security. Same we have seen in Havells. Well there is higher Chances that we can see huge momentum in coming few weeks. So let's go, i will explain a bit...
As we can see from the chart havells india looks promising in weekly timeframe. It has been consolidating within a demand and supply zone for the past 28 months, forming a rectangle channel pattern.
Today, it has reached the resistance level with a good amount of trading volume. This increases the likelihood of a breakout. However, there are a few things to...
📈 Exciting Bullish Pattern Alert! 🐂
📊 Pattern: Rising Wedge
📌 Symbol/Asset: HAVELLS
Moment Stock with hourly Support.
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
Havells weekly chart looks like breaking out from descending triangle at ATH.
Enter with your setup in lower time frames.
STOP LOSS @ 1245
FIBONACCI TARGETS : 1630, 1800, 2050, 2280 OR TRAIL USING 20/50EMA.
Gave a decent breakout and consolidating in a triangle pattern. Can take LONG position once the trendline is broken by a strong 30 mins candle and also let it close. For shorting opportunities you should scalp as the trend is bullish . And also let the market cool down or let it establish a trend and take trades accordingly.
Also, checkout my NIFTY50 Technical...
✅ Price recently break 1256-1273 Resistance zone that tested multiple time.
✅ But on Weekly time frame there is a strong trendline coming that also test 2 time in row.
✅ But you can look for short on 1334-1352, But you can look Long on 1256-1273 level when price break weekly trendline and on retest with strong reversal on 1256-1273 area you can go long.
Currently, movement is sideways to bullish. Stock is taking support on 61.8% retracement of A wave.
Stock is completing corrective fall in B wave, hence the speed/movement is slow.
Wave C has mostly started, invalidation level is marked too.
Targets as per Fib extension given.