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IDEAFORGE

short term trading opportunity in Ideaforge for > 20% upsideHi, NSE:IDEAFORGE has given a Bullish Flag Breakout on Weekly charts with very good volume. MACD is also on the bullish side on Weekly time frames. RSI is also on the bullish side on daily, weekly and monthly time frames. In the current market scenario, I am expecting that the bullish momentum will continue. Complete price projection like entry, stop loss and targets mentioned on the charts for educational purpose. Don't Forget to Follow me to get all the updates. Please share your feedback or any queries on the study. Disclaimer: Please consult your financial advisor before making any investment decision.
NSE:IDEAFORGELong
by raigvivek
2
IDEAFORGE - Long SetupNSE:IDEAFORGE Falling Wedge Pattern: A falling wedge pattern is characterized by two converging trend lines that slope downwards, with the price moving between these lines. Features: Shape: The pattern is formed by two downward-sloping trend lines. The upper trend line connects the highs, and the lower trend line connects the lows of the price action. These lines converge, forming a wedge. Volume: During the formation of the falling wedge, trading volume typically decreases. This indicates a consolidation phase. Duration: The falling wedge can develop over various time frames, from a few weeks to several months. Longer patterns are generally considered more significant. Trend Context: Continuation Pattern: In an uptrend, a falling wedge can act as a continuation pattern, indicating a temporary pullback before the uptrend resumes. Reversal Pattern: In a downtrend, a falling wedge can signal a potential reversal, suggesting that the downtrend may be coming to an end and a bullish trend might follow. Key Points to Remember 1. The falling wedge is considered a bullish pattern, whether it appears as a continuation in an uptrend or as a reversal in a downtrend. 2. The breakout should be confirmed with increased volume and other technical indicators. 3. The pattern's reliability increases with the duration and the number of touches on the trend lines. ------------------------------------------------------------------------------------------------ Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:IDEAFORGELong
by Sandeep_Aggarwal