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The Diamond Bottom patternThe Diamond Bottom pattern is a technical analysis pattern that can indicate a potential reversal in a downtrend and the beginning of a new uptrend. It is characterized by a series of higher highs and lower lows, forming a broadening pattern, followed by a narrowing trading range. The same has been identified in daily chart of DALMIASUG Here is a step-by-step breakdown of the Diamond Bottom pattern: Downtrend: The pattern typically starts during a downtrend, where prices are consistently declining. Broadening pattern: Within the downtrend, the price action creates higher highs and lower lows, forming a broadening pattern that resembles a diamond shape. Narrowing range: After the broadening pattern, the highs start to peak and the lows begin to trend upward, indicating a narrowing trading range. This narrowing range suggests indecision in the market and a potential shift in sentiment. Breakout: The crucial moment in the pattern occurs when the price breaks upward out of the boundary lines of the diamond pattern. This breakout above the upper boundary line is considered a significant reversal signal, indicating the potential start of a new uptrend. It's important to note that while the Diamond Bottom pattern can be a useful tool for technical analysis, it should not be relied upon solely to make trading decisions. It is always recommended to use other technical indicators, fundamental analysis, and risk management strategies to support your trading decisions. Note for everyone who came across this reference: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:DALMIASUG
by hardeepssethi
Double Bottom Pattern FormationDouble Bottom Pattern Formation in Daily Chart of PONNIERODE What is Double Bottom Pattern? The double bottom pattern is a popular technical chart pattern used in financial markets, particularly in stock trading and investing. It is considered a bullish reversal pattern, signaling a potential change in the trend from a downtrend to an uptrend. The pattern consists of two significant lows (or troughs) on a price chart that are approximately at the same level, separated by a temporary peak (or high) in between. Visually, it looks like the letter "W." Here are the key characteristics of the double bottom pattern: Downtrend: The double bottom pattern occurs after a prolonged downtrend, indicating that the price of the asset has been decreasing over time. First trough: The first low point (trough) forms as the price reaches a bottom and begins to rebound slightly. Temporary peak: After the first trough, the price retraces upwards, forming a temporary peak or a small rally. Second trough: Following the temporary peak, the price declines again but typically does not fall below the level of the first trough. The price then rebounds once more, forming the second trough at a similar level to the first trough. Breakout: The confirmation of the double bottom pattern comes when the price breaks above the resistance level formed by the temporary peak between the two troughs. This breakout signals that the downtrend may have ended and a new uptrend is potentially starting. Volume: Ideally, the trading volume should show a decrease as the pattern forms and then increase when the price breaks out of the pattern. The volume pattern should generally mirror the price pattern, with a higher volume during the breakout. Traders and investors often use the double bottom pattern to identify potential buying opportunities. Once the pattern is confirmed with a breakout, they may enter a long (buy) position with a stop-loss order placed below the pattern's lowest point. The profit target can be set based on technical analysis or by measuring the pattern's height and projecting it upwards from the breakout level. As with any technical analysis pattern, it's essential to use the double bottom pattern in conjunction with other indicators and analysis tools to increase the probability of successful trades and to manage risks effectively. Moreover, like all technical patterns, the double bottom is not foolproof, and there is always a risk of false signals, so it's essential to practice prudent risk management when trading based on chart patterns. Note for everyone who came across this reference: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:PONNIERODE
by hardeepssethi
IOLCP - A Continuation Wedge (Bullish)A Bullish Continuation Wedge is a pattern that emerges when there's a brief pause in an ongoing upward market movement. It's characterized by the formation of two trendlines that gradually converge in a downward direction against the prevailing uptrend. Throughout this consolidation phase, there's a struggle between the bearish and bullish forces. The bears aim to reverse the upward momentum, but ultimately, it's the bulls that emerge victorious. This is evident when the price breaks above the upper trendline of the wedge. This breakout is seen as a confirmation of the resumption of the previous upward trend, indicating that the bullish momentum is likely to continue. This bullish pattern can be seen on the daily chart of IOLCP. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:IOLCP
by hardeepssethi
UPL: Techno Fundamental AnalysisSomehow I have seen when there is an issue with monsoon (below par) this stock keeps on popping up in my radar. Reason: It's a AgroChem company (phosphate fertilizer producer #1). I saw some analysts also giving Buy call in this. So before putting long term bet, was looking at the Funda-Techno Analysis of NSE:UPL Here are my thoughts: Fundamental : DVM (Durability-Valuation-Momentum) score: 60-60-38 (Financially strong, valuationwise comfortable, technically neutral) Consensus price trg from analysts: 760 (28% upside) in 1 yr The consensus recommendation from 24 analysts for UPL Ltd. is BUY: (11 Strong Buy, 6 Buy, 6 Hold, 1 Sell) EPS is expected to grow by 6.4% in FY24 EBIT is expected to grow by 7.1% in FY24 Dividend per share is expected to grow by 6.4% in FY24 Capital expenditure is expected to grow by 60.7% in FY24 Technical : In Monthly chart: It's actually in the golden zone of Fib series. See the RSI descending triangle . The current level is a good support area. However best way is to do is a SIP where one can accumulate over a period from 600-500 area for an upside of upto 760/780. SIP levels are shown in the chart:
NSE:UPLLong
by pradipandsuvra
Rites Ltd: 1:2 Reward Risk RatioRites Ltd CMP: Rs. 473.35 Buy Around: Rs. 464/465 Target: Rs. 502 Stop Loss: Rs. 445 Technicals: Symmetrical Continuation Triangle (Bullish) Time Frame: 7-10 Days Note: Traders and investors often use them in conjunction with other technical and fundamental analysis tools to make more informed decisions. This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:RITES
by hardeepssethi
NAZARA - Symmetrical Continuation Triangle (Bullish) pattern Here's a breakdown of the key components and characteristics of the Symmetrical Continuation Triangle (Bullish) pattern : Converging Trendlines: The pattern is formed by two converging trendlines, one drawn connecting the lower highs and the other connecting the higher lows. This creates a triangle-like shape on the price chart. Price Consolidation: The pattern typically forms during a period of consolidation, where the price movement becomes range-bound. This consolidation phase signifies a temporary pause or uncertainty in the market after a prior uptrend. Decreasing Volume: As the pattern develops, trading volume tends to decrease. This reduction in volume reflects the indecision and lack of strong conviction among traders regarding the future direction of the price. Price Breakout: The key event in this pattern is the price breakout. Before the triangle pattern reaches its apex (the point where the trendlines converge), the price breaks out above the upper trendline. This breakout is characterized by a noticeable increase in trading volume, indicating a surge of buying interest. Confirmation of Uptrend Continuation: The breakout above the upper trendline is seen as a signal that the prior uptrend is likely to continue. The increase in volume suggests that a significant number of traders are now confident in the upward direction of the price. Overall, the Symmetrical Continuation Triangle (Bullish) is interpreted as a bullish continuation pattern. It suggests that after a period of consolidation and uncertainty, buyers have regained control, and the price is likely to resume its upward movement. It's important to note that while chart patterns like this can provide insights into potential price movements, they are not foolproof predictions. Traders often use these patterns in conjunction with other technical and fundamental analysis tools to make informed trading decisions. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:NAZARA
by hardeepssethi
INSECTICID Daily Chart - Diamond Bottom patternDiamond Bottom pattern , a technical analysis pattern observed in daily chart analysis of INSECTICID . This pattern is considered a reversal pattern, indicating a potential shift from a downtrend to an uptrend. Let's break down the key points of the Diamond Bottom pattern: Downtrend Phase: The pattern begins during a downtrend, where prices are consistently moving lower. This phase is marked by lower lows and lower highs. Broadening Pattern: As the downtrend continues, the price starts to exhibit a broadening pattern. This means that the price range between the highest high and the lowest low is expanding, forming a diamond-like shape on the chart. Higher Highs and Lower Lows: During the broadening phase, the price action creates higher highs and lower lows within the diamond pattern. This can indicate increased volatility and uncertainty in the market. Narrowing Trading Range: After the pattern's highs reach a peak and the lows start trending upward, the trading range within the diamond starts to narrow. This narrowing range signifies that the price volatility is decreasing. Breakout: The most critical point of the Diamond Bottom pattern is the breakout. When the price breaks upward through the upper boundary of the diamond pattern, it suggests a significant reversal in trend. This breakout marks the end of the downtrend and the potential beginning of a new uptrend. It's important to note that while technical analysis patterns like the Diamond Bottom can provide insights into potential price movements, they are not foolproof indicators. Traders and investors often use them in conjunction with other technical and fundamental analysis tools to make more informed decisions.
NSE:INSECTICID
by hardeepssethi
4
JKPAPER - Keep in radar!JKPAPER Technical analysis pattern known as the "Head and Shoulders Bottom," also referred to as an "Inverse Head and Shoulders" pattern has been formed on daily chart of JKPAPER. This pattern is often considered a bullish reversal pattern, indicating a potential change in trend from a downtrend to an uptrend. Here's a breakdown of the pattern: Downtrend Phase: The pattern forms after a significant downtrend in the price of an asset. Formation of Lows: The pattern consists of three lows. The first and third lows (the "shoulders") are higher than the middle low (the "head"). This forms a distinctive shape resembling a head and shoulders, but in an inverted position. Volume Analysis: During the formation of the pattern, you typically observe higher trading volume during the first two declines (shoulders), indicating strong selling interest. As the pattern progresses into the right shoulder, trading volume usually diminishes, showing decreased selling pressure. Neckline: Drawn between the two highs (shoulders), the neckline acts as a level of resistance that needs to be broken for the pattern to be confirmed. Reversal Signal: The bullish reversal signal occurs when the price breaks above the neckline. This breakout signals the potential end of the downtrend and the beginning of a new uptrend. The breakout is often accompanied by an increase in trading volume, indicating a surge in buying interest. Confirmation: For the pattern to be considered confirmed, it's important that the price closes above the neckline, preferably on higher volume. This confirms the change in sentiment from bearish to bullish. Price Target: To estimate the potential price target after the breakout, you can measure the distance from the head (lowest low) to the neckline and project that distance upward from the breakout point. Remember that while technical analysis patterns like the Head and Shoulders Bottom can provide insights into potential price movements, they are not foolproof indicators. Markets are influenced by a wide range of factors, and patterns may not always play out as expected. It's important to consider other forms of analysis and risk management strategies when making trading decisions. Note for everyone who came across this reference: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:JKPAPER
by hardeepssethi
ONGC a good bet for Value InvestorsONGC is available at a value zone which is a supply turned demand zone for value investors. It can be a good bet but a risky one as it's a high beta so avoiding going in with all money should be preferred and accumulating it in a slowly and steadily manner. The recent price action is however still not so bullish so a confirmation candle will give you a headscarf to accumulate more with time and patience. Fundamentally as well it has shown a great progress in terms of growth that is a steady increase in ROA, ROE, Growth, net margin, etc. which makes it suitable for investing. Also it is a high dividend paying stock as well with an annual yield of 7.69% Accumulating levels are around 120 and entry should be made in proportions. Not a Financial Advice. Kindly do your own research! Thanks for reading.
NSE:ONGCLong
by UnknownUnicorn21160479
2
NIFTY50 : WEEKLY EXPIRY SPECIAL 🔍So, got a lot of enquiries for explanation of today's movement by Indices and here I will try to summarise the entire context for ongoing price movement with the help of my very own "Pivot Auction Chart" 📶 ➖ To start with the general context of this week's price movement - 👉🏻 Currently both the indices are in grip of weekly participants (responsive). 👉🏻 So, either they show strength at the pullback to push the price in the ongoing direction or else the Monthly Responsive players will trap them in coming sessions which will lead to a situation of pullback getting turned into reversal. This context was discussed on 8th August, 2023 What happens today?? 📍 We saw a O=H opening today depicting strong selling pressure as we break the previous 2D low which happens to be at the Monthly Cam Level L3 (ML3) and Weekly Pivot (Pivot(W)) . 📍 Now with first hour being a seller's candle alongside daily narrow CPR setup which was an indicative of a possible trending day which turned the tables after the flush of weak daily sellers who enter in the market after a consolidation in the first half. 📍 With the market narrative being seen as a pause for further selling in the second half, we see a price breakout from the hourly price range and as the general context was given we see as soon as the price cam to previous 2D low in confluence to the price level of Monthly Responsive Buyers they trapped all the shorters for the day with the of help of Metals, OIl & Gas and Auto Sector in their bucket to push the price higher to the 2D high. ◇Attaching a snapshot of NSE:NIFTY in accordance to Auction Market Theory (AMT) which shows this phenomenon in more depth and will help you tomorrow too ▿ ↘︎ A brief for tomorrow's expiry movement: • We see a Bullish GPZ setup for tomorrow alongside an event day too that is "RBI MONETARY POLICY" meet which starts at 10am IST. • So, here one thing is which is very straight and simple is that NSE:NIFTY will be in control of today's buyers until the GPZ is taken down. • In case of GAP-UP opening we have a broader responsive range of "Weekly Responsive Sellers (WH3) - Quarterly Responsive Sellers (QH3) & also Daily Responsive Sellers (DH3) so, a dip can come towards the GPZ and if the GPZ is intact a good short covering can be seen tomorrow towards 19800. • In case of GAP-DOWN opening we can price taking an initial bounce from the Daily Pivot and if the price unable to cross PDH then first we will break the GPZ and then if the news momentum joins in then we can go as deep as towards 19380-19410 levels. So, here is a summarised brief of today's movement in the simplest yet as descriptive as possible and tomorrow's possible move in NSE:NIFTY and similar follow up in NSE:BANKNIFTY ✓ If you found it helpful then share it with your traders/friends/family ⏭️ Regards, Mukkull 🫶
NSE:NIFTY
by PivotMinati
11