2006 High Break Or Not ?
**The 2006 high was 1788 or 1800 round.
**price has touched 3rd time to All Time High(1800) ** Key Point--
@@ All Time High act as a Resistance (High Probability)
**There is lower high formation on monthly chart.
**This is a kind of ascending triangle pattern
** When price touched 3rd time, it is not declined so much and range bound at upper level.
**This month it has given a bullish marubozu candle ( higher probability of breakout)
** This type of price action pattern can be used in any time frame.
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Marubozu
Supply Zone Breakout in Tata Motors (D)Tata Motors has finally broken the previous supply zone of 460-475. With stock approaching all-time high levels looks very bullish. We can buy at the current price with SL@ 425. Possible targets are mentioned on the chart.
Tata motors is one of the fundamentally strong companies which is a leading global automobile manufacturer. It is a formidable player in the CV segment in India and offers a broad portfolio of automotive products including trucks, buses, coaches and defense vehicles. It is the leading player in the CV segment, with a market share of 43.0% during FY20.
This is not a trade recommendation, Do your own analysis before investing.
Do share your views on this.
HDFC Bank :- Found Rarest and One of the most powerful candle NSE: HDFCBANK
Time Frame :- 1 Day
Patterns Name :- Parallel Channel
Conclusion :-
A Big Red Marubozu candle taking up resistance at the top of a parallel channel which most probably shows up a down trend as the "Relative Srength Index (RSI)"
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Based on Your Own Risk this is only to Show you the Current Pattern
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Indusind Bank What to do next ?NSE: INDUSINDBK
Time Frame :- 1 Day
Patterns Name :- Parallel Channel
Conclusion :-
A Big Red Marubozu candle taking up resistance at the top of a parallel channel which most probably shows up a down trend as this is a weak share too show here are two breakout which show the one scenario that could be done and here we have told about the marubozu candle who dont know
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Based on Your Own Risk this is only to Show you the Current Pattern
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Target 1 achieved in Tcplpack | 9.5% mover This idea is a follow-up to Tclpack
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Colpal Long (14 Mar)Colpal Long (14 Mar)
RSI- 50
we can see support at 200 week EMA
Strong buying with good volumes seen last week
Buy at CMP- 1498
SL- 1390
Target- 1630, 1728 and more
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Charts and views are only for educational purpose.
GODREJCP long trade with multiple supporting reasonsGODREJCP showing some buying activity at demand zone and candlestick pattern(kind of marubozu) also indicates of a probable reversal as the 8th March and 9th March 2022 candles have same lows of 660.05. Buying around 700 with SL of 660 for target 770,830
Technical Analysis of Pacific BioSciences (PACB)Disclaimer: I own shares of PACB at the time of publishing this analysis.
The below analysis is not a trading or investment recommendation & is only for learning purpose.
1.PACB has been in a major downtrend like most other small caps & biotech stocks.
2.The stock is way below the 200DMA which sits around $25.
3.The spread between the 20DMA & 200DMA is also very wide indicating a pull back to the 200DMA.
4. The stock bottomed at $9.04 which was followed by some buying pushing the price up to $11.65 while still being under the 20DMA
5. Over the last two weeks the stock has been consolidating & with today’s huge igniting volume, the stock has seen a decisive close
above the 20DMA & formed a massive green Marubozu candle engulfing 11 other candles to it’s left.
6. Today’s price action shows a strong bullish sentiment & the first major target for the stock should be the 200DMA around $25.
7.While the stock tries to reclaim the 200DMA, it is expected to face resistance around$14, $15.5, $18-$20 (fairly strong resistance)
& $22-$24.
8. On the higher time frame charts as well, namely weekly & monthly, PACB has been forming a falling wedge pattern which
considered a bullish pattern.
9. Key areas of support would be the mid-point & low of today’s Marubozu candle, followed by the low point of the downtrend at
$9.04.
10.A close below $9.04 provides could mean further acceleration of price downwards to the next level of support in the $7.5- $8
area.
All the best!
Unionbank Long (02 Feb)Unionbank Long (02 Feb)
RSI- 59
taking strong support at 20 and 50 Day EMA's
Marubosu candle at breakout
Buy at CMP- 47.7
SL- 45
Target- 50.3, 53.4, 54.5
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Technical Analysis: Bearish marubozu keeps AUDUSD seller hopefulDespite recently bouncing off a monthly low, AUDUSD remains pressured around 20-DMA during early Wednesday. The risk-barometer pair dropped the most in a week while flashing a bearish candlestick on the daily chart. The anticipated declines also gain support from the absence of the oversold RSI conditions. However, July’s low of 0.7288 acts as a trigger for the fresh fall. Following that, 23.6% Fibonacci retracement level near 0.7225 and 0.7155 could offer intermediate halts during the south-run targeting the yearly low near 0.7105.
Alternatively, 50% and 61.8% Fibonacci retracements of the pair’s late June to August 20 downside, respectively near 0.7360 and 0.7420, can guard the quote’s rebound. Also challenging AUDUSD bulls is the monthly high near 0.7480. Should the Aussie pair rises past 0.7420, odds of its rally towards the July month’s peak near the 0.7600 level can’t be ruled out.
LOOKS GOOD FOR A SWING AND EVEN FOR LONG TERM!Stock gave a breakout a few weeks back and has been consolidating over the marubozu (breakout candle) from a decent time, has given a good weekly closing and the candle looks good, it has possibly bottomed out. Can go long with a stop-loss of 287 for the short term targets of 340 and 380.
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