IRCTC formed a inverse Head & Shoulder pattern in D1 time frame and gave a breakout with good volumes. After breakout it's in consolidation phase and thus formed a flag and pennant pattern in H1 timeframe. High probability setup will be breakout of flag and pennant in bullish direction. Try to Avoid bearish direction.
Disclaimer :- I'm not a SEBI registered...
#EXCEL INDUSTRIES is in going towards channel upper line.
Monthly --> bullish
Weekly --> bullish if closes above 1250 this week
High probability Trade for Long term
Long term Weakness comes below 785 weekly close
Technical chart is good
Look for fundamnetals - EPS to Price ratio, compare PE with peers, QoQ & YoY results & take ur decision
Its not Investment...
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Disc - Am not a SEBI registered. Please do your own analyses before taking position. This post is only educational purposes and not a trading recommendation.
This is a Way to take trade with Head and Shoulder. Once completed pattern wait to retraced the market after that take trade as per candlestick pattern. Stop loss as per Candlestick pattern.
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The head and shoulders chart is said to depict a bullish-to-bearish trend reversal and signals that an upward trend is nearing its end.
Disclosure : I am not SEBI registered. The information provided here is for Education Purposes only. Consult your financial advisor before taking any decisions
Head and Shoulders Pattern
A head and shoulders pattern is a chart formation that appears as a baseline with three peaks, where the outside two are close in height and the middle is highest. In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal.
Disclosure : I am not SEBI...
This pattern is found in a uptrend . According to this pattern the stock can achieve a target of 1855, with a stoploss of 1930. The stock has broken its 50EMA support and can go till 1855, 1815 which is the 200EMA Support. Only for educational purpose .Do your own research before investing.
NIFTY made a textbook head and shoulders pattern,
broke below the green neck line,
tested the Support turned into Resistance,
and has fallen below today with a full bodied candle with virtually no wicks on either side.
This is a clear indication that bears are in control.
The weekly close looks pretty bad as well.
Guess, the 3rd wave is here finally.
Refer to the chart, From the neckline breakdown the stock has moved closed to 135 points down, which was the same height as the neckline to the top. Seems like completion of correction according to the H&S pattern.
JPYINR is completing double Head & Shoulders pattern on the 4H chart. Break of this baseline would be highly bearish for the currency pair. Otherwise, if this line is held, we can see strong bullish action as well.
Good time to wait and watch and take a trade when either side seems strong.
L & T Stock is just completed Head and Shoulders Pattern which is a bullish pattern, retesting also completed and formed Descending triangle pattern with breakout. So, we can expect the stock may go long.
Good buy for short term.
Please check the chart for details. Mentioned clearly about the support and resistance points (if applicable).
I am learning as...
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
Looks like banking sectors are go take a ride down.
Good head n shoulders formed after a one way bull run from October - November 2019.
**WATCH OUT FOR BUDGET**
Budget will play a key role in this trade.