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Nifty50 - November 2024 viewIn my October view, I had mentioned that it is time to be cautious as Nifty was near an important zone of 26240-26270 and we have seen more than 2000 points fall since then. FIIs have sold more than 1.3 lakh crore of equity in last 40 days. Let's analyze what can be expected in this month. We have seen nearly 10% correction from ATH in Nifty50. 23900 is acting as a support currently which is also its 78.6 % fib extension. On the downside:- Below 23900, I am expecting at least 23300 which is near the trendline support. On the upside:- 24300, 24800 & 25000 would act as a strong resistance. Current view is sideways to bearish till 25000 is breached on weekly closing basis Till then, market will remain on sell at high.
NSE:NIFTY
by chartistamey
All time high and Rising Channel Breakout seen in Gabriel IndiaHello Traders, i have brought another analysis on a pattern breakout which called (Rising Channel Pattern). Well i have marked and written most of the things on chart, but still i am gonna to teach you here guy's about this pattern so if you see this type of Rising channel pattern next time, So at least you guy's will be able to trade. So Let's start. Q:- What is Rising Channel Pattern and How to trade that? Rahul:- A Rising channel is the price action contained between upward sloping parallel lines. Higher highs and higher lows characterize this price pattern. Technical analysts construct a rising channel pattern by drawing a lower trend line that connects the swing lows, and an upper channel line that joins the swing highs as shown above in Gabriel India Chart. Guy's Rising channels show a clearly defined uptrend. Traders can take swing trade between the pattern’s support and resistance levels or trade in the direction of a breakout or breakdown. Above in monthly charts we have seen a neat and clean proper breakout in Gabriel India , at same point there was a all time high which had taken place in september 2017 , after that price started forming Falling Channel Pattern in chart and it has taken support at earlier resistance zone, means price action says once a resistance is always act like support zone, after breaking out the resistance zone . Since then it has never made lower lows, and started forming a Rising channel pattern and now it has broken all time high and given a successfully Rising Channel Pattern breakout . Now i will tell you how to Trade on this type of pattern or when it gives breakout? There is two types of trading can be initiate in this, First you can take swing trades when it touches and reverse from lower range of channel. Second you can wait for breakout of channels upper range then you can take entry for long side but, one of the important criteria to bear in mind is there should be at least 4 points of reaction within the channel. Means price should touch at least 4 times lower range of the channel, and guy's Gabriel India Stock has touch 4 times and then given breakout. I hope guy's you have learned about this pattern very well. Important Levels for Gabriel India Ltd. Best buying range will be 250-237 Targets will be 311/372++ Keep Stop loss at 193 Price is above 200 EMA. It is a positive sign for this stock. Volumes are supporting breakout. MACD and RSI has given Bullish Crossover. Note:- Guy's i have not placed any indicator which i have discussed above but i have done analysis on this before publishing this idea. The reason is very simple i want my chart neat and clean and easy to understandable and i want teach purely price and action trading. So now let's focus about company background. Gabriel India is part of ANAND Group. From being a single-product company in 1961, They have transformed themselves in line with changing market, technical and social trends and played a key role in limiting emissions of ride control products and foster the cause of environmental protection. Company manufactures over 300 models of ride control products. Its products include shock absorbers, struts, front forks and others. It has a vision to be amongst top 5 shock absorber manufacturers in the world by 2025. Market Cap ₹ 3,564 Cr. Current Price ₹ 248 High / Low ₹ 252 / 129 Stock P/E 25.1 Book Value ₹ 60.6 Dividend Yield 1.03 % ROCE 22.0 % ROE 16.2 % Face Value ₹ 1.00 Debt ₹ 11.2 Cr. EPS ₹ 9.88 PEG Ratio 3.59 Promoter holding 55.0 % Intrinsic Value ₹ 162 Pledged percentage 0.00 % EVEBITDA 14.0 PROS Company is almost debt free. Company has been maintaining a healthy dividend payout of 24.7% Company's working capital requirements have reduced from 37.1 days to 29.4 days CONS Company has a low return on equity of 12.7% over last 3 years. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:GABRIELLong
by TraderRahulPal
12
Trendline and Range StockThis is simple Monthly Chart of COLGATE PALMOLIVE (COLPAL) and it is respecting the trendline and the resistance line, thus in a UPTREND CHANNEL since 2009. Long term trend always prevails in the market, Even if someone is stuck in a stock at wrong time but if its longer trend is in uptrend there are high chances that it will recover some day. High time frame analysis has its own benefits such as higher returns, less follow up , dividends and other benefits. It could be seen as an investment perspective as well. This time there is a BULLISH HAMMER candle made in february 2023 at the support of the trendline. This is the one of the simple analysis which shows that investment and trading in the market is easy and doesn't require rocket science. This is a favorable RISK-REWARD opportunity with a very small Stop loss at the low of the last hammer Candle. ENTRY can be made at the current market price of 1488 STOPLOSS can be on the closing basis on the last candle i.e. at 1430 (Logic behind closing basis is that it is currently in an Uptrend so if it wants to go in a downtrend it will require a strong downside closing confirmation for the same otherwise if the price goes below the low of the last candle, Buyers may come and can take the price up again) REWARD - the first target would be the last swing/Resistance that is 1674 and then at its last high of 1800 and then next target would be the resistance which is likely to be 2000. *this is a Monthly Analysis, so requires longer patience. *keep position Sizing according to your Risk Appetite. *Market is simple, don't make it complicated, Simple things works, It is just a probability Game. One can take ReEntry if it gives another opportunity but be ready to give SL.
NSE:COLPALLong
by rohitbansal1212
NETWORK18 - Breakout after 7 plus years - Monthly Chart - Swing The analysis is done on monthly TF hence price may take few months to even a couple of years in order to reach the targets. Trade setup is explained in image itself. The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
NSE:NETWORK18Long
by TradewithAditya
2