Chambal Fertiliser, Bullish, Target 335Chambal Fertiliser is nearing its 200EMA and has Inverse Head & Shoulder Pattern formed giving Target of 335-340,
provided the stock continues its uptrend.
Head and Shoulders
H&S pattern in Nifty contd....It's been almost 2 weeks since I posted the Head & Shoulder pattern formation in Nifty Daily/ Hourly chart. Are you witnessing the power of following chart patterns? Friday was absolutely baffling, but if you had conviction in the chart pattern, you can easily make money without hullaballoo.
Upper Limit for the next month is @105A rising wage pattern on the daily timeframe and also have a good resistance at around 105 and will face some support at around 74, also on a lower timeframe (1H) it's making a Head & Shoulder pattern which is a clear sign of downtrend. and also option data supporting that its going to go downwards next month so 3 strong points 👍
Complicated zone for NiftyHii All,
Greetings!
As we can see in past nifty is in complicated zone. My view is still bullish in Market.
Few days back nifty has also completed its Inverted Head & Shoulder Pattern.
Currently Nifty is facing Resistance at 18130 levels and has a good support at 17900 levels.
Hope to see a good up move in the May 2023.
Important Things
1. This is only for educational purposes only.
2. Never over trade.
3. Always keep Stop Loss.
4. Trade in limited quantity.
5. Taking a small loss is better than wiping up your whole capital.
I hope you found this idea helpful.
Please like and comment.
Share with Your Friends.
Keep Learning,
Happy & Safe Trading
Retesting of Inverted Head & Shoulder in NiftyInverted Head & Shoulder Breakout is confirmed in Nifty as Nifty made weekly closing above this level and sustaining above this level. Also, there is trendline breakout in Nifty. Close all shorts when Nifty comes @ 17920-17950. Also, take a buy opportunity in this zone with Strict SL 17880 (SL on 15 min. candle close) for the target 18650-18840.
IS DOLLAR (DXY) ABOUT TO CRASH?? | WEEKLY DOLLAR UPDATE DXY or the Dollar Index, the index to measure the strength of Dollar is considered to be the king of all charts, as most of the financial instruments are very much correlated to the DXY.
Not just forex markets but stocks, cryptos and even commodities are correlated to the Dollar.
If DXY Falls-> Cryptos, Stocks, Commodities, Precious Metals and some Forex pairs like EUR/USD, GBP/USD, AUD/USD, NZD/USD rises. However, pairs like USD/CHF, USD/JPY and USD/CAD falls.
Similarly, If DXY Rises-> Cryptos, Stocks, Commodities and some Forex pairs like EUR/USD, GBP/USD, AUD/USD, NZD/USD falls. However, pairs like USD/CHF, USD/JPY and USD/CAD rises.
So it becomes very important for any trader either Technical, Or Fundamental to keep a close eye on the DXY.
If DXY is in uptrend, the above mentioned instruments may be in downtrend. Conversely, if DXY is in downtrend, others may be in uptrend.
This is a general observation and not an exact rule to be followed. Exceptions are always there as Financial Markets are impacted by a number of factors.
I will be posting a detailed post about why DXY is so important for any trader, so keep following.
BELOW IS THE ANALYSIS
WEEKLY ANALYSIS
Weekly support range= 101.6-100.8
On WEEKLY TIMEFRAME ,price is sitting at support area. Untill and unless the support is not broken, there are chances that price might reverse and bounce from support.
However, if weekly price closes below the support, that can lead to a further long term downtrend in Dollar.
Also, price action is forming a HEAD AND SHOULDER PATTERN, which is typically a bearish reversal pattern. Once, weekly candle closes below the support range, the pattern is completed and activated. That may signify a long term downtrend in Dollar which means long term uptrend in STOCKS, CRYPTOS , PRECIOUS METALS, and some FOREXpairs.
However, further confirmations are also required and just one weekly candle closing below the support is not enough.
DAILY ANALYSIS
The price is making continuous LOWER HIGHS to the support signifying that any bounce from the support is not strong enough and is hence rejected by sellers.
Lower highs into the support area is considered to be Bearish and increases the probability of breakdown of support.
However, since the price is sitting at the confluence of Daily plus Weekly support, a daily close would not be sufficient and a weekly close is required.
On the flip side, we cannot ignore that price is at Support and may bounce from here as well. If price bounces and make a HIGHER HIGH, then chances of breakdown of support will get drastically low and infact a new uptrend may begin in DXY or the Dollar index (but after some further confirmations)
CONCLUSION
1. If Daily plus weekly candle closes below 100.8- BEARISH
2. If Daily candle closes above 102.5, that would mark a Higher High and an uptrend may begin- BULLISH
3. As long as price is trading between 100.8-102.5- SIDEWAYS/NEUTRAL
Let me know in the comments section if you want me to analyse any other financial instrument.
WARNING:-
ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE
Inverted Head & Shoulder Formation in NiftyBuy Nifty above 17863
Target 18034-18404-18664-18781
SL 17580 (stay below for at least 15 min.)
CMP @17772 April 25, 2023
Chart by CA Savita Rehlan
TCS SHARE WAS DESTINED FOR FALLING DUE TO THIS PATTERN
TCS had formed a perfect head and shoulder pattern on weekly chart which was nicely broken down and had finally reached the target
manpuram,short term ; min 70% return; inverted h&dhead and shoulders + flag pattern is formed
midcap and smallcap stocks are going to boom
intraday opportunity is less, but for two to three days of holding is good
for long term investment
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.reffer my old analysis attached below
Dhanlaxmi Bank : Momentum Trade#DHANBANK #swingtrade #nse #equity #chartpattern #breakout trading
>> Breakot Candidate
>> Inverse Head & shoulder pattern
>> Good Volumes & Strength in Stock
>> Keep trailing after 5-10%
Keep liking, sharing & Following for more chart analysis
@moneyfesttrading
IOC Breakout with huge volumeIOC gave a breakout to resistance with a strong volume and presently having cup and handle design pattern
Breakout above 85 would give a target of 92+
More over MRCL gave a good returns and IOC having major stakes in it, we may expect good results on May 16th and have good dividend given after board meeting
#IOC #1W #CUPANDHANDLE #CUP&HANDLE
RECLTD - H&S - BULLISH - LONGFor Educational Purpose..
Long Above - 135-140
SL - 115
Target - 150, 160, ATH
Thank You
APTECHTAPTECHT:- Head and shoulder pattern is formed on weekly chart, breakout candle is also strong, wait for retesting, if you want to plan something, take care of all time high 449.75, keep an eye on the stock
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
Pattern Breakout in Ujjivan Small Finance BankThis is swing trade for a bullish breakout which can be observed in ujjivan small finance bank. An inverted head and shoulders pattern can be easily spotted on the chart which appears very clean.
ENTRY- 28.15
TARGET 1- 30.60
TARGET 2- 33.35
TARGET 3- 34.70
All these targets are listed by keeping in mind the price action of this stock and the strength behind the breakout.
Also, consider a time frame of about 20-25 days for this trade to reach its outcome.
At micro-level, markets may look choppy and uncertain which makes it difficult to trade. But if you observe it from a higher glance you may find opportunities very well.
Is Vardhman Textiles looking for a breakout?The wind for Indian markets as of now have become uncertain , just like the state of the world economy. From large fund managers to small retail investors are addled, and the only question out there is 'Where will the market move?'.
Now's the time when tons of quarterly results are laid in front of investors from all the listed companies there are. Thus, the next move will solely depend on how investors perceive these numbers.
But we traders can't stop looking for opportunities even in times like these, and there is one such opportunity I can smell in Vardhman Textiles.
When you see the chart from a 4-H timeframe you can easily point a downward channel where price is currently hovering at the upper end of the channel. For now, ignore the head and shoulders and just focus on the channel cause there lies a valuable price action lesson for you.
If you see the bottom of the channel, you will notice that when the price touches that part of the channel it immediately retract and move northwards. This means that market sentiment becomes heavily bullish here and its not just a one-time occurrence, its happening almost every time. This checks the relevancy of support line for us.
Now moving next to the inverted head and shoulders pattern. Its a bullish pattern and we all know that, plus its formation on the upper end of the channel gives us a clear signal that this stock is looking for a breakout.
The move of the price away from the bottom of the channel with such ease gives a feel of bullishness in the air and this inverted head and shoulders clears the run way for our bullish flight.
The only thing is that I cannot guarantee that it will work and there is no such thing as 100% in this universe. All we can do is work on probabilities.
So if a breakout happens then our immediate target will be 338.85 . When this level is breached we can target for 357.15 . Here, we can expect a small profit taking which will halt the upward surge of the stock for a short time. Our main target will be 370.50 and I'm really looking forward to that.
But if everything goes opposite to our plan and the price remains contained in the channel then we know where our support lies.
Remember this is a swing trade and if a breakout occurs then it would take 15-20 days at least to reach to our target. If all go well then you can shorter the time for the target to hit.
