MCDOWELL (1D TF)
Swing Trade Analysis given on 6th December, 2023 (Wednesday)
Pattern: REVERSAL FROM SUPPORT TRENDLINE
- Volume Spike Buildup Near Support - Done ✓
- Moving back to Resistance - In Progress
#stocks #swingtrade #chartanalysis #priceaction #traderyte #mcdowell
THIS RESEACH ACTIIVE TILL JAN 2024/FAB2024
entry points near the 1080
stop loss points 1050
target levels 1 1200
target levels 2 1240
target levels 1 1280
target levels 1 1340
IF NOT SPSTOPLOSS IF ANY CHANGES HERE YOU GET UPDATION OR PING ME ON COMMENT BOX
Today i'm sharing with you Daily Chart of McDowell - United Spirits.
Chart has formed a very good rounding Bottom Pattern. the Pattern has already given a breakout at 940, but stuck in a price range of 984 to 1017 as soon as Resistance of 1017 is broken we are going to see a big move on the upside with approx. TGT of 1146...
Taken into consideration 946.25 as resistance and top zone
taken into consideration 739.25 as support or bottom zone
from low on 17th June 2022 to high on 9th December 2022 is 100% approx. Green arrow indication on chart.
and from high on 9th December 2022 to low on 27th Jan 2023 is 100% approx. Red arrow indication on chart.
//basis of above facts downfall...
Chart patterns look prudent for the above titled opinion
1. MCDOWELL_N has been trading inside a Ascending channel pattern (taking support and resistance at perfect channel levels)( shown below Monthly chart for broad view)
2. Monthly Breakdown by witnessing the January month candle(with volume bump) with low too tested the next month
Trade Or Invest Wisely.
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Disclaimer: I am not a SEBI registered advisor, so before entering on my view please ask your SEBI registered advisor. Profit is your and loss is your.
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MCDOWELL, Trend line and Triangle Breakout , Bullish NSE:MCDOWELL_N
Breakout Long Term Trend line and Triangle
T3 1019 Positional
Only For Study Purpose
Wedge pattern breakout and another Trendline which was tested multiple times and ready to break,
Monthly and Weekly candles also looks strong with good volumes and if a day candle closes above 890 - 900 level we can anticipate a quick move in Mcdowell (United spirit) till 1000 levels.
-educational purpose only.