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Headandshouldersformation

LALPATHLAB [Head and Shoulders Pattern]A trendline has been drawn showing the expected bullish trend (green solid line), with an alternate path shown (blue dotted line) indicating potential short-term fluctuations before reaching the target. 1)Head and Shoulders Pattern: Left Shoulder: Formed around June 2022. Head: Formed around October 2022. Right Shoulder: Formed around February 2024. Neckline: The horizontal resistance line around the 2,800 level, which is crucial for confirming the pattern. The stock has recently broken above the neckline (around 2,800), indicating a potential bullish reversal. The target price is calculated by measuring the distance from the head to the neckline and projecting it upward from the breakout point. The approximate target price, considering the height from the head (1,800) to the neckline (2,800), would be 2,800 + 1,000 = 3,800. for MORE check in my TradingView ID If You LIKE👌👌 MY Idea ..Boost.its please🔥🔥🔥. "Disclosure : I am not Sebi-registered ." This channel is for only educational purpose. Any profit/loss, I am not responsible. Before taking any trade on our charts / calls, please consult your financial advisors. Thanks
NSE:LALPATHLABLong
by asAMOLSUTAR
RCF - Head and Shoulder Chart PatternRashtriya Chemicals and Fertilizers Limited (RCF) has formed a bullish chart pattern called Head and Shoulder. Chart structure is bullish in every point of views like in a daily chart pattern you found RSI above 60 and also above 200 EMA is a very positive signal of uptrend. Head is formed at very important zone which act as a resistance for than a decade almost (14 years). After successfully breakout of important resistance now price retest that level and formed strongest support zone with bullish piercing candlestick in daily timeframe. Change of Polarity, Prior resistance become support. RCF buy above 148 Stop Loss below 142 Target 163 and 186
NSE:RCFLong
by Arvind_Share_Academy
HEAD AND SHOULDERS PATTERN NECKLINE BREAKED IN HINDUSTAN PETROLHEAD AND SHOULDERS PATTERN BREAKED IN HINDUSTAN PETROL You can see in the DAY chat Clearly showing a head and shoulders pattern And it's entry point the neckline is also breaked Meaning it's a goood opportunity for selling For download side there is a good breakout occurred It's clearly fall a lot in long-term The target are also mentioned here Tp 1 -382 Tp2- 320 Tp3- 264 And the entry point is. 480 Enjoy the opportunity Stay connected
NSE:HINDPETROShort
by tradergyan01
HDFCBANKI am not sure to work this chart pattern on 4H time frame . first time i am share that type stock in my idea , that's reason i am not confidently say to buying stock to study purpose . hdfc is one of the best stock of my banking list which give huge profit in short term or swing trading . i share other time frame screen shot with us in below . for MORE check in my TradingView ID If You LIKE👌👌 MY Idea ......Boost.🔥🔥🔥.. its. "Disclosure : I am not Sebi-registered." This channel is for only educational purpose. Any profit/loss, I am not responsible. Before taking any trade on our charts / calls, please consult your financial advisors. Thanks🙏
NSE:HDFCBANKLong
by asAMOLSUTAR
07 Feb ’24 — Nifty Passes the Fire Test - Stance Upgraded to 🐂Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: ” Nifty is still undecided on the 63mts TF and for that same reason, we wish to start the day tomorrow with a neutral bias and then go long if we have a green candle above the 21913 zone. Only if BankNifty lends support we can take out the ATH and there is no better day than the expiry day for such feats.” 4mts chart The gap-up was much more than expected and we did not live well to that hype anyway. When we have a huge gap and the market starts to close, it accidentally builds momentum for the weaker hand and most of the time the scale tips in their favor. Luckily, the Bears could not capitalize on it today as Nifty fell 192 points ~ 0.87% from the highs, breaking the support of 21913. The recovery was not anything spectacular, Nifty just ended the day above the level of 21913 and for us, that is more than enough to change our stance from Neutral to Bullish. NiftyIT reminds us of the night watchman in cricket. When there are only a few more overs remaining in a Test match - you send a tail-ender instead of your best batsman. Today when BankNifty started awakening, NiftyIT started giving up. What was the reason NiftyIT ended the day with a loss of -1.25% on an otherwise good GREEN day? 63mts chart The Inverse Head and Shoulders look perfectly formed and since it is a high-accuracy pattern - we wish to put our weight behind it. The only thing standing in its way was the 21913 resistance, now the next target should be the all-time highs. Our stance for tomorrow is bullish and since these are all games of probabilities we reserve the right to be wrong as would like to keep the 21826 area as a good stop loss.
NSE:NIFTYLong
by viswaram
06 Feb ’24 — Head and Shoulders Inverse forming on BankNifty?BankNifty Analysis - Stance Neutral ➡️ Is BankNifty bearish? - absolutely not. Is it bullish? It's too early to say. One thing is sure - there is some weakness impacting the banks. Are the unsecured loans haunting them? None of the balance sheets from the quarterly results are bleeding - but something is still bothering them. Today was a fine day for the banks to support Nifty’s rally - still, the banks decided to stay on the bench. 4mts chart One thing is sure, the fall looks like arrested (for now). If Nifty takes out the ATH without the support of the banks again, then it is some indication that the Information Technology players may have taken over as the new torch-bearers. There are exactly 6 NiftyIT companies in Nifty50 as there are 6 banks in BankNifty. NiftyIT weight is 14.18% vs 33% of BankNifty - definitely, BN has lost some ground and IT has gobbled it. 63mts chart The perfect Inverse Head and Shoulders pattern has not formed yet - we still have 20% of the move remaining. We will closely monitor if BN chooses to follow this path as it is a bullish sign. The first clue came in when BN defended its support at 44542, the 2nd came when 45399 was defended. Tomorrow is the weekly expiry and we hope to see some actions - at present, the OTM strikes are not that juicy - if BN decides to move, we could expect some mispricings to pop in. Algo Trading Our BankNifty algo trades ended today with a gain of Rs8121.
NSE:BANKNIFTY
by viswaram
Bank Nifty - Head & Shoulder Target = Historical Resistance Disclaimer: Trading in financial markets involves substantial risks. Please consult your financial advisor before making any trading decisions. This message is not a solicitation to buy or sell. Perform your due diligence. WaveTalks - Market Whispers: Can you hear them? The last H&S pattern unfolded as expected. Analysts measure it by the vertical distance from the head's top to the neckline (shown in red vertical line) This measurement is then projected downwards from the neckline break ( shown as orange line) The resulting target aligned with historical resistance at 46250-46375, as updated on the last idea making of the right shoulder Day Low - 46212.95 ( 2:05 pm / 17th Jan 2024) Regarding the concept of historical resistance and support changing roles: The historical resistance at 46250-46375 might now act as support for the index. If this happens, it could provide some relief to bulls. However, whether this will occur can only be confirmed over time. This method is a one of the traditional way of setting targets in technical analysis. Have a great day!
NSE:BANKNIFTYLong
by WaveTalks
2
BankNifty -400 Points Up: Making the Right Shoulder in the IndexDisclaimer: Trading in financial markets involves substantial risks. Please consult your financial advisor before making any trading decisions. This message is not a solicitation to buy or sell. Perform your due diligence. WaveTalks - Market Whispers: Can you hear them? Today's Focus: Plan B's Mastery & The Emerging Pattern Good day, traders! As we discussed in our early 6 AM update - in the last idea of bank nifty ( Bullish Harmonic Pattern) the index followed Plan B to the letter, soaring over 400 points. A round of applause for everyone who joined in on this strategy! What's Next? We're now eyeing a fascinating development - the potential formation of a Head & Shoulder pattern . If our analysis holds true, we're on the cusp of forming the Right Shoulder. This becomes more evident if the index retraces back towards the 47,480's, all while maintaining below the 48,350-48,450 resistance zone. We might just be the architects of this Right Shoulder! Let's stay sharp and watch as the market unfolds this pattern. Stay tuned for more insights and remember, every move counts!
NSE:BANKNIFTYShort
by WaveTalks
17