A Hammer pattern is seen on the hourly timeframe.
Even though we can see a ascending triangle, the bullish volumes are reducing.
A long can be possible only when we can see it above 407-408 levels.
A Short can be possible when it breaks the trendline and till T1-393, T2-383.
Next week can help us get more info on this.
All the levels are mentioned on the chart
*This is a personal view and should not be considered as buy or sell suggestion or advice, trade/invest at your risk
TORNTPOWER
> Hourly Chart
> Very good Volume
> BO done
> Retest Done
> CMP 450.60. Good to enter till 444.
> Suport 423 on closing basis
> May go 478, 513
Dtd : 23rd May TheCharts
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading...
ACC is trading near it's resistance. It has tested the resistance multiple times but unable to give a breakout. We can see a resistance breakout in coming 1-2 trading sessions. You can take a positional trade when the price crosses high of the breakout candle. SL will be the nearest swing low.
Reliance Industries is at breakout from Cup & handle pattern on hourly time frame. This resistance zone is tested many times, so its strong resistance. Waiting for breakout ....
Keep this on your radar...
Bitcoin is hot cake due to its current investments from Elon Musk which the firm confirmed 1.5 billion dollar investments in bitcoin.
Technicals
1) BTCUSD had formed cup and handle pattern on 4 hour and broken strong resistance .
2) Falling wedge on 1 hour chart
3) Currently has retraced to 0.23 fib levels
4) RSI is greater than 50 which indicates strong...
Bank Nifty - Supply and Demand zones at hourly time frame
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Disclaimer : All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
NIFTY is trading inside Ascending channel pattern at hourly time frame
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Disclaimer : All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
buy above 1990 for tgt 2035-60 with stop 1960
sale below 1960 for target 1920 with stop 1990
disclaimer - for study purpose only
below attached previous idea for reference
The hourly candlestick chart of WockPharma forms a parallel channel, which creates a suitable long position opportunity with a 30% expected return and a Return-to-Risk ratio of 3. The RSI also shows a value of 29.
Axis bank broke out of a trend line which it has been holding since May and taken a retracement. Possibility of down trend.
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Reason to short:
1) Major Breakout in daily time frame as well.
2) Multiple Retracement ends up in downwards momentum (M-Pattern Formation: Showing down trend as well).
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RR ratio should be calculated and trade should be taken accordingly.
Sellers fail to bring down SBIN 3 times denote's pressure from the bottom to push up.
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Reason to buy:
1) Trend Line breakout
2) Buying pressure from bottom
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Next best entry will be after retracement i.e after 201.60. Stop loss will be below intimidate swing i.e below 197.00.
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RR ratio should be calculated and accordingly trade should be taken.
