BPCL NEAR SUPPORT TREND LINE- CHANCE TO GO LONGBPCL has been making consistently Higher Highs and Higher Lows and the Bottom Support Trend line is providing good support.
Now after making a Higher High on 9 June the price has been falling and it is near the support trend line at around 440.Now we have to see whether the Support holds and the trend changes. There is also a Bullish Divergence.
Keep a sharp lookout.
Higherlows
All you need to know about DLF in 15 mins👑 Terms used if you don't know :
✣ An inverse head and shoulders also called a "head and shoulders bottom", is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of security meets the following characteristics: the price falls to a trough and then rises; the price falls below the former trough and then rises again; finally, the price falls again but not as far as the second trough. Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins
✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows
✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges, and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts
✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position.
✣ Supply/ Demand: In the supply zone, the prices are higher than the bid price, and in the demand zone, they are lower. The bid price is what a trader is willing to pay for a stock
👑 Important levels - explained well
👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :)
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
Short Term Opportunity in Manappuram Finance
Manappuram Finance has broken the Long Term Trend Line and has also retraced. It is making bullish moves with Higher Highs and Higher Lows for the past few sessions.
The bottom Trend Line is also providing a good support to take the price higher towards ATH.
There is also a strong resistance at 168-170 from where the price has been rejected a few of times.
If the price manages to break this zone then it could be a race to a target of 183.70 and then to ATH.
Keep on your radar.
ANOTHER BREAKOUT | GO LONG | HUGE UPSIDE POTENTIALThis was on my list too, been recommending to accumulate this from 490, it had to give a breakout which it has, in today's session. The fair value of almost all the Godrej stocks is much higher than they are priced right now, which is why we're seeing some re-rating in these stocks. Be it any reason but they have to re-rate because of the fundamentals they have. Go positionally long with the mentioned stop-loss.
WATCHOUT FOR THIS!!!Again, this stock was on my list from past month where it had to be accumulated and it has finally come out of the consolidation zone, it looks likely to give a breakout over 560 this week, make your positions on the long side with the mentioned stop-loss, stock has a lot of potential and can actually surpass it's all time highs!
Bharti airtel | Line Chart analysis | stock in discount RSI made higher high (HH) that means trend reversal signal
Line charts made lower Low (LL) Thats means its a rsi divergence
Tight trendline also broke
Bullish engulfing pattern in candle charts also
All these happened at major support level
TARGET = 478
LOT SIZE = 1851
6 types of price action & technical analysis confirmation before this trade
FOLLOW FOLLOW FOLLOW
IBULHSGFIN : Looking good above 227.55NSE:IBULHSGFIN
Hi Traders,
IBULHSGFIN is looking good above 227.55 and stock is preparing to go up. Once it break trend line and sustain above 227.55 level, it can show a bull run.
Stock Analysis
* Stock broken Lower low & Lower high pattern and start developing Higher high & Higher low.
* It is facing resistance with trend line. Today trying to break trend line with strong bullish candle.
* Once it break trend line and sustain above 227.55 level, uptrend will be started.
Buy Level
Above 227.55
Target Level
TP1= 259.25
TP2= 278.85
TP3= 310.55
TP4= 361.85
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Mahendra and Mahendra Finance LongHi Traders,
As expected in previous idea ( "Mahendra and Mahendra Finance" ), Stock is preparing to go up. Once it break resistance line (138.50), there is a possibility of temporary retracement to suggested resistance line (138.50). If so, you can open new orders based on price action.
Stock Analysis
* Stock is in a range and developing higher high and lower low pattern between this range with support of trend line .
* It is trying to close above resistance line (138.50).
* Once it break resistance line (138.50), uptrend will be started.
Buy Level
131.80(Given in previous idea)
Target Level
TP1= 148.70
TP2= 153.10
TP3= 160.20
TP4= 171.70
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AJANTA PHARMA: HIGHER HIGHS HIGHER LOWAjanta pharma during the downtrend made Lower Highs with a flat Low and thus a triangle formation.
The breakout of the triangle started the uptrend.
In an uptrend, it is following a Higher High, Higher Low formation.
During both the trends, every upmove followed by strong correction waves...
HIgher High Higher low is kind of making a parallel channel, corrective wave stopped on the lower line of the channel & moved upwards.
Next resistance level is near 1720 that would be our 1st target,
T1: 1715-1725
T2: 1850-1860
As expected,The beginning of uptrend is started in Bajaj FinanceNSE:BAJFINANCE
Hi Traders,
As expected in previous idea ( "Bajaj Finance Long" ), Stock has broken resistance line and start moving in upward direction.
There is a possibility of temporary retracement to suggested resistance line (3523). If so, you can open new orders based on price action.
Stock Analysis
* Stock was in a range and developing higher high and lower low pattern between this range with support of trend line.
* It could not give closing above 3523. Today it has broken resistance line (3523).
* The beginning of uptrend is started.
Buy Level
3330 (Given in previous idea)
Target Level
TP1= 3821
TP2= 3983
TP3= 4244
**********************************************************************************************************************************
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Provide some feedback below in the comment!
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LONG if breakoutSeries of higher lows.
Accumulated & breakout previous resistance.
Seems to be accumulating again!! If breaks, might give a move!!
!!NIFTY BOUNCING FROM THE TRENDLINE!!ACCORDING TO ME TRENDLINE IS VALID
WITH THREE TOUCHES IT CONFIRMS THE SUPPORT
ABOVE THAT WATCH THAT:
THERE IS A HIGHER HIGH AND HIGHER LOW FORMATION GOING
ON THE INDEX A DIP BEFORE BIG EVENTS ARE GIVING US AN
INDICATION WHERE THE MARKETS ARE MOVING
I DONT WANT TO SPECULATE
ONE CAN GO INTO THE EVENT BY CREATING
A VOLATILE OPTION STRATEGY
BUYING A STRANGLE IN OPTION INDEX
SAME OPTION AVAILABLE ON THE BANKNIFTY
JAYSREETEA - HIGHER TOP HIGHER BOTTOM PATTERNTECHNICAL -It is been observed on the WEAKLY chart that the stock is forming continuous higher top higher bottom and with a uptrend line and a triangular pattern which can breakout soon, but a MULTI YEAR resistance @120.
FUNDAMENTALS -Rise in tea prices will led to higher margins and profits, with passing of GST TEA & coffee sector is going to get a huge benefits can also led to rerating further in the stock.
BUT IT WILL TAKE SOME TIME .
Target:118( Short term)
Stoploss: 97 (Closing Basis)
Target:180 (Medium term)
Stoploss : 97(weakly closing)