EURUSD potetial BUY opportunityClosing price currently trade at 1.07978 a buy opportunity is envisaged from the current market price as we may continue to see price go up. Our Buy target TP1 is 1.08971 , TP2 is 1.09947. stop loss at 1.07714.
we can see a 50% retracement may come in upcoming days and now again after touching a long waited order block as mention in chart.
It's a good 1:72 RR trade.
I hope you will like my explanation.
it's just my analysis and you guys trade after your analysis.
Marketanalysis
CANFINHOME - The Ascending Triangle PatternCan Fin Homes Ltd has recently exhibited a notable range-bound movement, forming an ascending triangle pattern that highlights its price consolidation phase. The stock oscillated between key price levels, with a significant high of 938 on July 1st and a low of 680 on June 4th, before peaking at 909.80 on July 25th. This range-bound behavior reflects a period of accumulation and steady buying pressure, as the price repeatedly tests the horizontal resistance while respecting the upward-sloping support line. This consolidation phase is crucial as it sets the stage for a potential breakout, indicating that the stock is gearing up for a significant directional move. The pattern suggests that investors are increasingly optimistic, with the price confined within these key levels, paving the way for future volatility and trading opportunities. In this analysis, we will explore three key trading strategies for CANFINHOME based on the recent ascending triangle pattern. First, we will examine the Breakout Strategy, which capitalizes on the price movement once it surpasses key resistance levels. Next, we will discuss the Pullback Strategy, focusing on entering trades during price retracements to the breakout level. Finally, we will consider the Breakdown Strategy, which prepares for a potential bearish reversal if the price falls below critical support levels. Each strategy will be detailed with entry points, stop losses, and targets to help you make informed trading decisions.
In this analysis, we will explore three key trading strategies for CANFINHOME based on the recent ascending triangle pattern. First, we will examine the Breakout Strategy, which capitalizes on the price movement once it surpasses key resistance levels. Next, we will discuss the Pullback Strategy, focusing on entering trades during price retracements to the breakout level. Finally, we will consider the Breakdown Strategy, which prepares for a potential bearish reversal if the price falls below critical support levels. Each strategy will be detailed with entry points, stop losses, and targets to help you make informed trading decisions.
Breakout Strategy:
Entry Point: For an optimal entry, consider buying above 914 as an early signal or above 938 for a regular entry. This indicates a confirmed breakout from the ascending triangle pattern, signaling strong bullish momentum.
Stop Loss: Place your stop loss just below the support level of 838. This precautionary measure helps safeguard against potential reversals or false breakouts.
Target: Set your price target around 1196. This level is calculated by adding the vertical height of the triangle to the breakout point, reflecting the expected upward movement based on the pattern.
Rationale: Entering at 914 or 938 allows you to capitalize on the upward potential following the breakout. With a stop loss at 838, you manage risk effectively. The target of 1196 aligns with the pattern’s projection, maximizing your profit potential.
Pullback Strategy:
Entry Point: Look for a buying opportunity during a pullback to the breakout level around 914 or the support level of 903.85. This approach leverages a temporary price retracement to secure a more advantageous entry.
Stop Loss: Position the stop loss below the support level of 838 to mitigate risk in case the pullback evolves into a deeper correction.
Target: Maintain the target at approximately 1196, consistent with the breakout strategy.
Rationale: The pullback strategy offers a chance to enter at a better price while confirming the validity of the breakout. The stop loss below 838 provides protection against significant losses, and the target of 1196 remains aligned with the anticipated price movement.
Breakdown Strategy:
Entry Point: If the price drops below the key support level of 838, consider this a breakdown of the ascending triangle pattern. This shift indicates a bearish reversal and a potential shift in market sentiment.
Stop Loss: Set the stop loss above the support level of 838 to prevent substantial losses if the breakdown proves to be a false signal.
Target: For a breakdown scenario, the target will need to be adjusted based on new technical analysis of lower support levels. Immediate downside targets should be reevaluated as the situation unfolds.
Rationale: The breakdown strategy addresses the possibility of a bearish reversal when the support level is breached. The stop loss above 838 helps limit potential losses, while the target will depend on further analysis of the emerging support levels.
Conclusion :
The ascending triangle pattern for Can Fin Homes Ltd indicates a bullish outlook with a potential price target of 1196 if the breakout is confirmed. The breakout strategy aims to capture the upward trend, while the pullback strategy provides an opportunity to enter during a retracement. Conversely, the breakdown strategy prepares for a potential bearish scenario if the support level is breached. Each strategy includes specific entry points, stop losses, and targets, offering a comprehensive approach to trading based on the pattern’s analysis.
Disclaimer :
The information provided in this article is for educational and informational purposes only and should not be construed as financial advice. Trading and investing in the stock market involve risk, and you should consult with a qualified financial advisor before making any investment decisions. The author and the publisher are not responsible for any losses or damages that may occur as a result of using the information provided in this article. Past performance is not indicative of future results. Always conduct your own research and due diligence before making any investment decisions.
*** Hint*** Use a buffer at entry to avoid false breakout
ITC's Key Support & Resistance: Trade Smartly!Current Scenario:
• ITC is currently trading at ₹429.05, showing signs of consolidation.
• The stock has tested the support level twice (T1 and T2), indicating strong support around ₹402.90.
Key Levels:
• Entry Point: ₹416.25
• Stop Loss: ₹402.90
• Target Levels:
• Target 01: ₹437.90
• Target 02: ₹444.70
Analysis:
• The stock is forming a pattern where it respects the support level, which could be a good opportunity for a bullish entry.
• The previous low and support touches suggest that buyers step in around these levels, providing a safety net for long positions.
Trading Strategy:
• Bullish Scenario: Enter at ₹416.25 with a stop loss at ₹402.90. Look for the stock to move towards the first target of ₹437.90 and possibly extend to ₹444.70.
• Bearish Scenario: If the stock breaks below the stop loss level of ₹402.90, it might indicate further downside risk. In this case, it’s advisable to exit long positions to prevent losses.
Conclusion:
• ITC is showing a well-defined support and resistance structure, offering clear entry and exit points.
• Traders can leverage these key levels to strategize their trades effectively, minimizing risk while maximizing potential gains.
Keywords:
• ITC Stock
• Technical Analysis
• Support and Resistance
• Trading Strategy
• Entry Point
• Stop Loss
• Target Levels
• Market Analysis
• Stock Trends
"In a world of uncertainties, gold remains a timeless anchor"After facing rejection four times at the @2080 price level over a span of 1302 days, there's a compelling possibility of a breakout. Each rejection indicates a significant resistance point, but the frequency of attempts suggests growing pressure for a potential breakout.
Make Or Break Zone in NiftyNifty at Crucial Support zone or we can say that it's make or break zone if nifty hold the support today then we can see the upside rally in near future or if Nifty breaks the support and close below the make of break zone than we can see the downfall in near future ...
I hope this will help you to make your decisions accordingly however this is educational purpose only ...
Market Watch: Assessing the Possibility of an Impending CrashThe financial sector has been experiencing a persistent underperformance, notably reflected in the contrasting trends of Banknifty and Nifty. While Nifty has been consistently marking higher highs, indicating positive momentum, Banknifty/Nifty Ratio Chart, on the other hand, is showing a pattern of forming lower highs. This ongoing divergence between the two indices raises a red flag, signalling potential concerns for market participants. Such a disparity in performance suggests a lack of uniformity in the financial landscape, prompting investors to closely monitor and assess the underlying factors contributing to this divergence. Understanding these trends becomes crucial for making informed decisions in the face of the evolving market dynamics.
Investors should closely monitor Nifty for potential immediate tops, especially examining bearish momentum divergence for confirmation. This analysis is crucial for gaining insights into evolving market sentiment and making informed decisions amid potential risks.
Mazdock Ship - Swing trade ideaStock name: Mazdock ship and current market price is 2114.6
This stock has broken out of symmetrical triangle and 2 months high resistance taking support from 50 EMA.
Current view is bullish with expected swing trading target around 10-12% and is very decent target for swing trading.
Sharing new stocks analysis for swing trading which I feel as per my analysis, has the potential to make a good momentum based swing trade.
Stay disciplined in swing trading. Emotions can cloud judgment. Stick to your plan and keep emotions in check for consistent success. 📈💪🚀
🔍 Remember, always perform your due diligence and analysis. This post isn't a buy or sell recommendation, but rather an educational insight into the world of technical analysis.
We're not SEBI registered advisors and won't be held liable for any profits or losses.
Technical Analysis For Banknifty**Date:** September 28, 2023
**Key Levels:**
* Resistance: 44962
* Support: 44465, 44200, 44000
Asper OI: Support:
Not Good Strong Support Levels
Resistance is: 45000 Big Then 44700/44800
**Analysis:**
* The market is currently in an uptrend, but it is facing resistance at the 44962 level.
* If the market is able to break above 44962, then a good bullish trend can be confirmed.
* The first support level is at 44465. If the market breaks below this level, then a fall is possible.
* The second support level is at 44200. If the market breaks below this level, then a further fall is possible.
* The third support level is at 44000. If the market breaks below this level, then a significant fall is possible.
**Trading Strategy:**
* If the market opens gap-up above 44600, then traders should wait for a pullback to one of the support levels before entering a long trade.
* If the market opens gap-down, then traders should wait for a confirmation of the downtrend before entering a short trade.
* Traders should always use stop-loss orders to protect their capital.
**Example:**
A trader is bullish on the market and wants to enter a long trade. The trader waits for the market to pull back to the 44465 level. The trader then enters a long trade with a stop-loss order below 44400.
If the market is able to break above 44962, then the trader will make a profit. If the market falls below 44400, then the trader will exit the trade with a small loss.
**Proper Technical Analysis:**
* The technical analysis above is based on the following key points:
* The market is currently in an uptrend, as evidenced by the rising trendline.
* The market is facing resistance at the 44962 level.
* The market has three key support levels at 44465, 44200, and 44000.
* The trading strategy above is based on the following key points:
* Traders should wait for a confirmation of the trend before entering a trade.
* Traders should always use stop-loss orders to protect their capital.
It is important to note that this is just a sample technical analysis and trading strategy. Traders should always do their own research before making any trading decisions.
High probability Ascending triangle can be formed. Hi banknifty trader. there is a high probability that banknifty can form ascending triangle pattern and continue its bullish trend. also, it is forming this bullish at its all-time high region.
so upside momentum can be good if breakout will happen.
Bank Nifty Support Resistance 18Sept2023 As Per Techincal Analysis Market On Week High and as per day candel also markets at high levels
As Per My Point Of View Market Need to Retest Downside Againt or Wait 2 3 days then breakout will be strong otherwise market can fall.
Support Resistance For Tomorrow
If the Market Opens Gapup Above 46315 then wait for sustenance or wait for retest previous day closing 46154.
If Market sustenance above 46300 and Close a Green 15Mint Candel Then We can Go at Bullish Side
For the Downside Market needs to Break 46000 Then a Downfall is Possible upto 46853-46814 For the Downside Market have to much resistance.
Support Levels: 46150/46000/45853
Resistance if market open Gapdown then 46315
Support Resistance AS PER OI Data
Big Support = 46000
Big Resistance 46500
But Minor resistance at 46200/46300
#banknify #supportresistance #nifty50 #techincal #tradingview #santubittu #Tommorwanalyis
Nifty50 : 24 August Levels and Trade Plan | Bulls seem strongHello traders,
Post market analysis for 23 August:
today was a good day for Bulls in the market. After testing 380 support zone for the third day in a row, and good accumulation at that level, market was able to claim 19450 and touched 19472.
If we look at Daily chart, we can see three consecutive HH & HL.
Amidst traders anticipating a Bearish move, market is actually moving up!
Trade plan for 24 August :
Case1: In case market crosses or open above 482, it will be a no brainer to keep a long position.
targets TP1: 19558 and TP2:19622 SL: 5 min close below 460.
Case2: Market opens in the last session's range. Will remain cash.
I will keep Bullish stance on Nifty50 as long as we are above 380-360 zone, both; intraday and swing.
Thanks for reading, Have a great day!
Give this post a like, if you agree with this analysis.
Disclaimer: This is my trading plan and i am just sharing it here. I do not intend to post it here as a trading advice or suggestion. It is shared here only for the sole purpose of sharing and discussing with fellow traders. Do your own due diligence and trade responsibly.
Bank Nifty Analysis For Tomorrow For Tomorrow Bank Nifty Need to Trade Above 44000 and and Upper Side 1st Resistant is 44100 then We Can see a Good Buying Side Move in Bank Nifty Like Short-covering Wait For Break Out With Out Proper Confirmation We Don't take any trade .
Support Zone: 43757
Resistant : 44049/44200