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Diamond Bottom Pattern FormationDaily Chart analysis of MAHINDRA LOGISTICS Mahindra Logistics stock price has reached a point of stabilization and is displaying indications of a potential reversal. Following a period of uncertainty or consolidation, the price has broken out in an upward direction, suggesting a shift in market sentiment. This pattern is known as the Diamond Bottom, which initially forms during a downtrend with a series of higher highs and lower lows. Subsequently, the price range gradually narrows, accompanied by an upward trend in the lows. The breakthrough of the diamond's boundary lines confirms a substantial reversal, signaling the start of a new uptrend. 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:MAHLOG
by hardeepssethi
Bottom Triangle - Bottom Wedge FormationBased on the Daily Chart of DELHIVERY , it seems that the price of a particular security has reached a bottom and is showing signs of a reversal. This reversal is indicated by the breaking upward of the price after a period of uncertainty or consolidation. The pattern known as a Bottom Triangle, consists of two converging trendlines. The upper trendline connects the lower highs, while the lower trendline connects the higher lows. This pattern reflects a narrowing range of price movement, indicating increased uncertainty in the market direction. During this period of uncertainty, the trading volume typically diminishes as traders become hesitant. However, just before the triangle reaches its apex (the point where the two trendlines converge), there is a noticeable increase in volume. This increase in volume, combined with the price breaking above the upper trendline, confirms the bullish nature of the pattern. It suggests a reversal of the prior downtrend, indicating a potential upward movement in the price. It's important to note that without specific information about the security in question, it's difficult to provide a more detailed analysis. The interpretation of technical patterns and their significance can vary depending on the context and the specific market being analyzed. It's always recommended to perform a comprehensive analysis and consider other factors, such as fundamental analysis and market conditions, before making any investment 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:DELHIVERY
by hardeepssethi
Symmetrical Continuation Triangle has formedIn IBULHSGFIN a bullish symmetrical continuation triangle pattern has been formed. This pattern typically occurs during an uptrend and indicates a potential continuation of the upward movement. Here's a breakdown of the pattern based on your description: Converging Trendlines: The symmetrical continuation triangle pattern consists of two converging trendlines. These trend-lines are drawn by connecting the lower highs and higher lows of the price action. Decreasing Volume: As the price swings between the converging trendlines, the volume tends to diminish. This diminishing volume reflects uncertainty in the market direction, indicating a period of consolidation. Narrowing Range: The price action within the triangle forms a narrowing range, with each swing becoming increasingly smaller. This tightening range further emphasizes the indecision and lack of conviction in the market. Breakout: Prior to the apex (the point where the trendlines converge), there is a breakout above the upper trendline. This breakout is accompanied by a noticeable increase in volume, which signifies a surge in buying interest and confirms the pattern as a continuation of the prior uptrend. Based on the breakout and increased volume, traders and investors may interpret this as a bullish signal, suggesting that the prior uptrend is likely to resume. It indicates a potential opportunity to go long or hold onto existing long positions. It's important to note that while these patterns can provide insights into potential price movements, they are not guaranteed predictions. It's always recommended to use additional technical analysis tools and consider other factors before making any 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.
I
by hardeepssethi
4
Symmetrical Continuation Triangle has formedVeto Switchgears & Cables Ltd - Daily chart analysis - Symmetrical Continuation Triangle has formed, which means:- A Symmetrical Continuation Triangle (Bullish) is a bullish chart pattern that appears during an uptrend and indicates a potential continuation of the upward movement. It is formed by two converging trendlines, where the lower trendline is ascending and the upper trendline is descending. The pattern is called "symmetrical" because the trendlines meet at a common point, creating a triangular shape. The formation of a Symmetrical Continuation Triangle (Bullish) suggests a period of consolidation and indecision in the market. As prices fluctuate, they create lower highs and higher lows, indicating a tightening range. This tightening range reflects a balance between buyers and sellers, with neither side exerting significant dominance. The pattern is confirmed when the price breaks out of the triangle formation by closing above the upper descending trendline. The breakout should ideally be accompanied by a noticeable increase in trading volume, indicating a surge in buying pressure and a stronger consensus among market participants. Traders often interpret the Symmetrical Continuation Triangle (Bullish) pattern as a bullish signal, suggesting that the prior uptrend is likely to continue. It represents a temporary pause in the market's upward momentum, with prices consolidating before resuming their upward movement. It's important to note that while this pattern provides a bullish indication, it should be analyzed alongside other technical indicators and factors to make informed trading decisions. Confirmation through volume analysis, trend analysis, and consideration of support and resistance levels is recommended to increase the reliability of the pattern. 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:VETO
by hardeepssethi
ISGEC setting up to make new highs ISGEC chart looks strong, any dips near 600 will be a strong buy, company has recently started operations in its new ethanol plant, and is a major player in many sectors. I have already made a position. This is a positional pick. Stoploss can be placed @ 540 *DISCLAIMER* This analysis is only for educational purpose. I am not a SEBI Registered Analyst/Advisor. Please consult your financial advisor before taking any position and please use a Stop Loss for any Investments/Trading Positions. It is your hard earned money so give risk management your highest attention. Do take this disclaimer seriously.
BSE:ISGECLong
by nishant_bhatt
Union Bank Of India Looks Good in short term!Technical analysis pattern known as a "Bottom Triangle" has been formed within calculated geometrical angles. This pattern typically indicates a potential bullish reversal in the market after a period of consolidation or uncertainty. Here's a breakdown of the key characteristics: Converging trendlines: The Bottom Triangle pattern consists of two trendlines, one connecting lower highs and the other connecting higher lows. These trendlines converge, forming a triangle shape on the price chart. Decreasing volume: During the formation of the Bottom Triangle, trading volume tends to diminish. This decline in volume reflects the indecision and lack of market conviction during the consolidation phase. Narrowing price range: As the price swings back and forth between the converging trendlines, the range between the highs and lows gradually narrows. This tightening range signifies decreasing volatility and increased uncertainty about the future direction of the market. Breakout and volume confirmation: The key event in a Bottom Triangle pattern is the breakout above the upper trendline. This breakout is accompanied by a noticeable increase in trading volume, which confirms the validity of the pattern as a bullish reversal signal. The volume surge indicates renewed buying interest and suggests a shift in market sentiment from bearish to bullish. It's important to note that technical analysis patterns, including the Bottom Triangle, are not foolproof and should be used in conjunction with other indicators and analysis techniques. Additionally, market conditions and individual stock dynamics can vary, so it's essential to consider the broader context before making any investment decisions based on these patterns.
NSE:UNIONBANK
by hardeepssethi
3
SHANKARA forming a clean cup and handle patternSHANKARA has formed a long cup and handle pattern. Good scrip to go long as company has good fundamentals and is in the basket of #INFRA theme. Stoploss can be placed @ 660. *DISCLAIMER* This analysis is only for educational purpose. I am not a SEBI Registered Analyst/Advisor. Please consult your financial advisor before taking any position and please use a Stop Loss for any Investments/Trading Positions. It is your hard earned money so give risk management your highest attention. Do take this disclaimer seriously.
NSE:SHANKARALong
by nishant_bhatt
1
Bottom Triangle has formedIn Granules after a period of uncertainty or consolidation, the price has recently hit a low point and has exhibited promising indications of a reversal. This is evident as the price has broken upwards, indicating a shift in market sentiment. During this time, a pattern known as a Bottom Triangle has formed, characterized by two trendlines that converge. As prices reach lower highs and higher lows, it reflects a balancing act between buyers and sellers. This has resulted in a narrowing price range and diminishing trading volume, indicating market participants' uncertainty about the next direction. However, before the triangle pattern reaches its apex (the point where the trendlines converge), there has been a notable breakthrough. The price has successfully surpassed the upper trendline with a significant increase in trading volume. This occurrence provides strong confirmation of a bullish reversal, suggesting a shift from the previous downtrend. In summary, recent market conditions have demonstrated a potential reversal as the price has reached a bottom and subsequently broken upwards after a period of uncertainty or consolidation. This pattern is characterized by a Bottom Triangle, where two trendlines converge while the price forms lower highs and higher lows. As the price breaks above the upper trendline with increased trading volume, it signifies a bullish reversal, marking a shift from the prior downtrend. 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:GRANULES
by hardeepssethi
2
Symmentrical Triangle Formation in Bank Baroda(Daily TImeframe)Symmentrical Triangle Formation in Bank Baroda(Daily TImeframe) Disclaimer = All my analysis is for Educational Purpose only. Before entering into any trade 1) Educate Yourself 2)Do your own research and analysis 3)Define your Risk to Reward ratio 3)Don't trade with full capital As per my Analysis Bank of Baroda Reached my 1st Target. Now price is retesting the target level which is also a support level. Price has successfully retested the current support level. Now price is ready to move towards my next Target.
NSE:BANKBARODALong
by Avinash9087
Bullish Flag Pattern Daily chart analysis of Maruti Infrastructure Ltd. showing price has formed bullish flag pattern as a bullish signal, suggesting that the price is likely to resume its upward movement after the consolidation phase. This may be use as opportunity to enter long positions or add to existing positions in anticipation of higher prices. 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.
BSE:MAINFRA
by hardeepssethi
Looks Good for Short termKitex Garments Ltd. The price seems to have reached a bottom after failing to break through a support level and ultimately rising higher in a sign of reversal to a new uptrend. The Double Bottom pattern has formed during a downtrend as the price reaches two distinct lows at roughly the same price level. Finally the price breaks upward above the highest high to confirm the bullish signal. Short term target is marked. Note for everyone who came across this study: This chart is only for educational purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:KITEX
by hardeepssethi
Keep Nazara in radarNazara Technologies Ltd. It appears that the price has completed a phase of "accumulation" at the bottom of a major downtrend, and the recent breakthrough of the resistance level suggests a potential reversal to a new uptrend. To identify this pattern, traders often look for a Head and Shoulders Bottom formation, which involves three consecutive price declines following a significant downtrend. The lowest point, or the "head," is situated in the middle, flanked by two "shoulders" at around the same level but higher than the head. As the price makes the first two declines, the trading volume is usually the highest and then decreases during the formation of the right shoulder. Finally, when the price surpasses the neckline, which is drawn between the two highs, the volume typically surges, confirming the reversal of the trend. Note for everyone who came across this study: This chart is only for educational 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
Continuation Diamond and Flag Pattern formation On Daily Chart two patterns has been noticed recently in CANFIN HOMES: Continuation Diamond (Bullish) and Flag (Bullish) Continuation Diamond (Bullish) - explanation The script canfinhome previously experienced a period of consolidation where the price moved within a specific range. However, the price has now broken out of this range in an upward direction, indicating that the previous uptrend is likely to continue. This breakout occurred after a pattern of higher highs and lower lows, followed by a narrowing of the trading range. This pattern is known as a broadening formation or a diamond pattern, and its upward breakout confirms the continuation of the previous uptrend. Flag (Bullish) - explanation The script canfinhome has recently experienced a strong upward movement, and although there was a temporary pause, the price is now continuing its upward trend at a rapid pace. This pause is often seen in a bullish Flag pattern, which is a pattern that occurs during a strong market rally. This pattern is characterized by two parallel trend lines that typically slope downward in the opposite direction to the prevailing uptrend. The bullish Flag pattern is confirmed when the price breaks through the upper boundary of these trend lines, indicating that the upward movement is likely to continue. Conclusion: downtrend looks minimal before reaching resistance. Note for everyone who came across this study: This chart is only for educational purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:CANFINHOME
by hardeepssethi
Short Term Trade Setup in TirumalchmBased on recent activity of Tirumalchm, it appears that the price has hit the bottom and is displaying indications of a reversal. This is evident by the fact that the price has broken upward after a period of consolidation or uncertainty. One potential pattern that can be observed is the Diamond Bottom pattern. This pattern typically occurs during a downtrend, where prices fluctuate between higher highs and lower lows in a broadening pattern. As the pattern progresses, the trading range gradually narrows, with the lows trending upwards and the highs peaking. Once the price breaks upward out of the diamond's boundary lines, it suggests a significant reversal to a new uptrend. Short term trade setup targets are clearly mentioned for Thirumalai Chemicals Ltd. Note for everyone who came across this study: This chart is only for educational purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:TIRUMALCHM
by hardeepssethi
Welent looks goodDouble Bottom pattern is formed in Welent. A bullish reversal pattern that is formed when the price reaches two distinct lows, or bottoms, at approximately the same price level. This is usually a sign that the selling pressure has been exhausted, and buyers are starting to take control. The volume tends to decrease as the pattern forms, which is an indication that there is less selling pressure in the market. However, there may be a slight increase in volume at each low as some traders may try to buy at what they perceive to be a bargain price. The confirmation of the Double Bottom pattern occurs when the price breaks above the highest high between the two bottoms. This is often accompanied by an increase in volume, indicating that there is a renewed buying interest in the market. Overall, the Double Bottom pattern is a popular chart pattern among traders and can be a useful tool for identifying potential buying opportunities. However, like all technical analysis tools, it should be used in conjunction with other indicators and not relied upon solely for making trading decisions. Note for everyone who came across this study: This chart is only for educational purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:WELENT
by hardeepssethi
GMM Pfaudler Ltd - short term trade setupWhen we talk about market trends, we use the term "momentum" to refer to the speed at which prices are changing. If a market is experiencing a bullish event, that means that prices are rising and we can see that there is an upward momentum in GMM Pfaudler Ltd. Momentum is important because it helps us gauge the strength of price trends. The chart is for educational purpose, buy zone and targets are marked. Note for everyone who came across this study: This chart is only for educational purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
G
by hardeepssethi
1
Bank Nifty: Monday - 20/03/23Levels: Support: 39600, 39450, 39250, 39000, 38600 Resistance: 39800, 40000, 40150, 40300, 40550 OI Data: ---------------------------------------------------------------------| Bank Nifty => Price: 39598.1 ATM: 39600 , ITM: 39500, 39400, 39300 , OTM: 39700, 39800, 39900 ---------------------------------------------------------------------| Highest OI Call in Bank Nifty per OI data: 40000 Highest OI Put in Bank Nifty per IO data: 39000 Nearest Major Resistance in Bank Nifty per OI data: 39900 Nearest Major Support in Bank Nifty per IO data: 39400 ---------------------------------------------------------------------| Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 39800 | 39600 | 40000 | 40100 ----------------------------------------- SELL | < 39450 | 39550 | 39300 | 39200 +++++++++++++++++++++++++++++++++++++++++
NSE:BANKNIFTYShort
by pradipandsuvra