HEAD&SHOULDER almost completed in NIFTY50Overview
The head and shoulders pattern is nearing completion, accompanied by positive RSI divergence, indicating the market may have bottomed out.
Key Observations
Head and Shoulders Pattern:
Suggests the end of the downtrend.
Indicates a potential upward trend.
Positive RSI Divergence:
Shows bullish signal with higher lows on the RSI and lower lows in price.
Market Projections
Final Correction Phase:
Nifty at 23700.
Breakout above 24600 confirms bullish momentum.
Conclusion
These technical indicators point towards a bullish phase. Monitoring the 23700 level for correction and 24600 for confirmation of a new rally is crucial.
Head and Shoulders
BOROLTD - Multiple Bullish Pattern Breakout On Weekly ChartBOROSIL Ltd reveals a combination of bullish patterns, suggesting the potential for an upward breakout on weekly chart.
Here’s a technical analysis:
Inverse Head and Shoulders Pattern: The stock shows an inverse head and shoulders formation, with the left shoulder, head, and right shoulder clearly marked. This pattern is a strong bullish reversal signal, indicating a shift from a downtrend to an uptrend.
Cup and Handle Pattern: Inside the inverse head and shoulders, there’s also a cup and handle pattern, with the cup length marked. This pattern further reinforces the bullish outlook, as it often signals a continuation of an upward move following a breakout.
Breakout Above Resistance: The stock appears to be testing a horizontal resistance level at around ₹455. A breakout above this level would confirm the bullish patterns and indicate a potential upward move toward the projected targets.
Volume: There’s a noticeable increase in volume as the stock approaches the resistance level, suggesting accumulation and growing buying interest. Rising volume during the formation of these patterns is a positive sign for breakout strength.
Targets: The projected targets are based on the cup and handle breakout measurement:
Target 1: ₹500
Target 2: ₹560
Target 3: ₹600
RSI (Relative Strength Index): The RSI indicator is trending upward and is currently around 62, which is in the bullish zone. However, it’s not overbought, implying that there could still be room for further upward movement.
Conclusion
The stock displays multiple bullish patterns (inverse head and shoulders and cup and handle), backed by rising volume and an upward-trending RSI. A successful breakout above ₹455 could lead to the stock reaching the first target of ₹500, followed by potential gains to ₹560 and ₹600 if momentum continues.
Reliance is completed a Head and shoulder pattern.NSE:RELIANCE
Reliance has completed a Head and Shoulders pattern, suggesting a potential target of 1280 based on the measurement from the head to the neckline. This target could act as strong support for a buy opportunity. However, breaking the current support level at 1325 is crucial for this to happen. Keep an eye on how it moves around this level. Timing will be key.
Aether Ind forming H&S on weekly charts.A perfect Head and shoulder pattern formation in Aether Ind.
Aether Industries is engaged in the production of intermediates and specialty chemicals. Products for Pharmaceutical, agro chemical, material sciences, coating, photography, additive and, oil and gas, segments of chemical industry.
MCap = 10491 Cr
P/E Ratio = 103
The company has grown in sale by 30% since September 2021 while the expenses has gone up by 40% from 101 Cr to 142 Cr. Opertaing profits are down by 1% (Sept 2021) to 28%
Technically the stock might take a dip to its listing price of 703.
The overall market is too looking bearish for now as nifty has created another LOWER LOW.
Aehter can be shorted below 766 levels upto the listing price for a short term bearish move.
Pattern formation looks bearish and RSI indicator is showing a divergence. Though, the indicators are lagging but adds on too the price action.
Either the stock will revert after testing the Neck line or will consolidate and give Break Out Or Break Down.
Entry should be targeted only once the levels is breached on the lower side and close is given on the lower side.
Positional or swing short sell trades can be initiated on the break down.
Is SUIUSDT Ready for a Bullish Surge? Key Levels to Watch NowYello Paradisers! Have you been watching SUIUSDT closely? If not, you might be missing out on a major opportunity! SUIUSDT has just broken out of a critical resistive trendline, signaling potential for a bullish move. But there's more to the story...
💎We’ve also seen a Change of Character (CHoCH) and the formation of an inverse head and shoulders pattern. This combination often points towards increased bullish momentum. However, before we can fully commit to a bullish outlook, there are a few key things to consider:
💎If SUIUSDT breaks above the key resistance zone and closes a candle above it, it will validate the inverse head and shoulders pattern. That could be the start of a stronger bullish run.
💎If there's a pullback instead, keep an eye on the support zone. A potential double bottom could form, but we’ll need to see an internal CHoCH in favor of a bullish market structure to increase the chances of a bounce from support.
💎On the flip side, if the price breaks down and closes below the support zone, our entire bullish setup will be invalidated.
💎Patience is key in this market, so make sure you wait for confirmation before making your move.
🎖Remember, successful trading isn't just about predictions—it's about disciplined execution and waiting for the right signals. Stay sharp!
MyCryptoParadise
iFeel the success🌴
banknifty sell on rise 51114 good resistance and 50500 support51114 is working as cip
if open gapup above 51114 bulish potential target 52000
if opened flat can see side way market wait for 50400 broken can see blood bath in banknifty
it can touch 49712
if open gapdown below 50400 wait fo sell on rise, sell on ticks market dont long in any case
we can check 52000 pe if cip take place in 52000 pe it will cause good fall.
wait for 51114 or 50500 broken between non trading zone
sell on rise
Bank Nifty - Formation of Bearish Head and ShoulderBank Nifty index is forming bearish head and shoulders pattern. Here are the key levels mentioned below:
Neckline : 50000 (activation point for the pattern)
Immediate Support: 49700 (200 EMA)
Potential Target: 46500 (if price pierces below 200 EMA)
Trend Breakdown: Noted breakdown of the uptrend line since October 23.
Make sure to keep an eye on these levels and monitor price action closely as it approaches them! If you have any more insights or questions about trading strategies, feel free to share.
Bank Nifty: Head & Shoulder Pattern.Bank Nifty: Head & Shoulder Pattern.
Index nicely shaped as Bear Flag (2 week long).
Potential Head & Shoulder pattern (Top) is also shaping up.
Levels mentioned on chart & Given targets seems achievable.
Plan your trade accordingly.
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’, trade at your own risk.
"Trade what you see, Not what You Think"
Happy Trading(:)
INDIAGO PAINT ready to touch IPO price 1 as 11 risk reward ratioINDIGO PAINT has give long 2 and half year consolidation break out.
Stock as has been down trend its listed on Feb 2021
Stock has give rounding bottom pattern breakout and multiple pattern at lower time frame.
*POSTIONAL TRADE*
Buy INDIGO PAINTS
At 1650 50% quantities, 50% between 1600-1625
Stop 1485
Target 1 (1:2) 1791
Target 1 (1:4) 1991
Target 1 (1:5) 2091
Target 1 (1:7) 2291
Target 1 (1:9) 2491
Target 1 (1:11) 2691
_Duration 6 months_
Trade as per your risk-taking capacity.
Inv head and shoulder in HoneywellGood reversal signal in honeywell automation.
All checkpoints are ticked..
1. Downtrend before formation of reversal pattern.
2. Volume support at break of neckline.
It is now buy on dips and targets of earlier resistances can be considered.
--------
I am not a Registered Financial analyst:
1 Learn the concept, not tip
2 Master 1-2 strategy, stick to it for consistent results
3. For weekly charts, Target/SL takes 1-9mon
5. Strict SL is on weekly closing basis
6. Diversify in at least 20 stocks