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Inverted Cup and Handle

VOLTAS Chills down to its Major Support ??!!Chart patterns look optimal for a short trade in Voltas Reasons 1. VOLTAS has been taking support at the its 10 YEAR OLD SUPPORT TRENDLINE (bright green line- from 2013 till now ) 2. Right now, it is in its downswing move inside the channel pattern. 3. [b ]Inverted Cup & Handle pattern too formed and given BREAKDOWN today (27/04/23) 4. As per pattern, target amounts to the depth of the cup(nearly 100 points) 5. Target levels shown @ chart(horizontal dashed green lines) 6. Breakdown candle is more than 5 % and SL gets difficult to place....Safer SL can be day closing above 822 7. Lower low too formed increasing the probability of down move. Even if you don't short, It's better not to go long now.... Let's wait & watch how it moves!!! Note - Just sharing my view , not a tip nor advice!!!
NSE:VOLTASShort
by mmjimm
4
UPL Bearish way ahead ??!!!!Chart patterns convincing me to publish this above titled opinion REASONS 1. UPL has been trading inside an Expanding Triangle pattern(10 year- from 2013) taking support and resistance at perfect levels till now. 2. Currently it is under the down swing move inside the pattern 3. Pink trendline from 2020 acting as support, Bears trying to get break that trendline ( June 2022 (1st time), Oct 2022(2nd try), now Dec 2022(3rd try)). 4. During the june 2022 and oct 2022, weekly candle broke that line(with wicks), but low didn't get tested and bulls took charge. 5. But, now the Breakdown candle(19 dec weekly candle) is more alike BEARISH MARUBOZU candle with LOW TESTED!!!! 6. This may be a sign of Bearish way ahead!! 7. In the Daily time frame, its been travelling in a channel pattern and respecting it too and currently an inverted cup & handle like pattern too formed in verge of a Breakdown!!(shown below) 8. It is better to not to Go long even if you don't short now!!! 9 . Strong day close above the 775 will pave way for weakness in Bears approach!! If the stock goes as per levels shown, fib 0.382 , 0.5 can be the Target levels ahead!! In the short term, we can have SL - day close above 738 and Target as 680 Let's wait and watch, how it is going to move!!! Note - Just Sharing my view....not a tip nor advice!!!!
NSE:UPLShort
by mmjimm
4
RELIANCE to Dip via Inverted Cup & Handle ??!!Chart patterns look good for a short trade in Reliance industries REASONS 1. RELIANCE has been trading inside an Ascending Channel and currently it is down under its Downswing move inside the channel 2. There is a Monthly breakdown (shown in chart) out of a 5 year old trendline support Monthly timeframe chart below - 3. In weekly chart shown below, we can clearly witness lower high and lower low formed recently confirming Bearishness!! 4. In daily timeframe , it is trading in the form of an Inverted Cup & Handle and its due for Breakdown!! 5. Target levels mentioned as Horizontal dashed green lines 6. SL can be day candle closing out of the purple slanting trendline 7. Safe Entry can be after 2hr Breakdown out of the Inverted cup & handle pattern. Let's wait & watch, how it moves!!! NOTE - Just Sharing my View....not a tip nor advice!!!!
NSE:RELIANCEShort
by mmjimm
5
BEL Paving way for INVERTED CUP & HANDLE ??!!!Chart pattern insist me the above titled opinion Reasons 1. BEL is in formation of a Inverted Cup & Handle (Handle in progress) 2. Lower high and Lower low formed (confirming bearishness) . 3. Gap b/w 15th & 16th Day candle can act as Strong resistance. 4. Target & SL levels mentioned @ Chart. 5. BEL may take support @ Green trendline (Major Support from 2020) . Let's wait & watch how it moves!!! Note - Just sharing my view...not a tip nor advice!!!
NSE:BELShort
by mmjimm
DRREDDY inside an Inverted Cup & Handle ??!!!Chart patterns look good for a short trade Reasons(all with respect to 1 hr time frame) 1. Drreddy has been travelling in an ascending channel pattern 2. Recently it broke out of the channel pattern with volume support 3. Inverted Cup & Handle pattern too looks perfect 4. Entry can be made after 1 hr breakdown out of the yellow trendline. 5. Target & Sl mentioned as dashed horizontal lines. Let's wait & watch , how it is going to move!!! NOTE - Just sharing my view....not a tip nor advice!!!!
NSE:DRREDDYShort
by mmjimm
BANKNIFTY BREAKDOWN OF INVERTED CUP & HANDLE ??!!!Chart Pattern depicts the situation clearly. 1. BankNifty travelling in a Descending channel(bright red and green lines shown in chart) 2. Inverted cup & handle formed and given a Neckline Breakdown with good volume!!! (and low too got tested) 3. Target can be 0.5 Fib support down ! !(as the depth of the cup measured) 4. 1hr closing above 42200 can fail the pattern and be our SL!! Nifty too in formation of same pattern but not given breakdown!!!and it needs to close below 17800 for this same breakdown!! Let's see how it moves!!! Note: Just sharing my view....not a tip nor advice!!!!!
NSE:BANKNIFTYShort
by mmjimm
LT inside a Inverted Cup & Handle Pattern ???!!!!Chart Patterns suggesting me to go with the above titled opinion !!! Reasons 1. Dec 21,22,23 daily candles with volumes suggesting the bears entry .(Dec 23rd candle being breakdown candle of trendline from june 2022). 2. Follow up candles on DEC 26,27 show bulls regaining back but LACK OF VOLUMES SHOWS THEIR WEAKNESS!!! 3. Coming to 2hr timeframe, it is looking like the formation of Inverted Cup & Handle (Handle in progress). 4. We can make our entry , after a 2hr bearish candle breaking down of the white trendline. 5. SL(2hr closing ) and Target levels mentioned @ chart !! Remember, ENTRY ONLY AFTER BREAKDOWN. Let's wait and watch how it moves!!! Note - Just sharing my view....not a tip nor advice!!!
NSE:LTShort
by mmjimm
3
Inverted Cup and handle Pattern : DJITechnically, Dow is really at a critical zone. Keeping in mind that Equity is a growing asset, today's DJ:DJI session would be very Important. DJI has given a close below its neckline and completed its Pattern. There are concerns of recession as well. Will the DJ:DJI fall and complete its target or there will be pattern failure? Here ADX is showing above 24, indicating that markets are about to trend. Rsi indicates the oversold condition in the market. * It is just my analysis and no recommendation of Buy or Sell is Given.
DJ:DJIShort
by VanshikaUdeshi
1