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Morning Star

Morning Star at several Fib clusters in HINDPETRO Wave C of Flat correction has fulfilled the rule of equality (Wave A and Wave C are equal). There is also a Fib level of fib retracement of the previous impulse at this level. We can also see the Morning Star pattern forming at this cluster. This suggests a high probability of a buy trade in HINDPETRO . Stop-loss for this trade can be put below 61.8%, i.e., around 360 level. This analysis is for educational purposes only.
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NSE:HINDPETROLong
by theprofityogi
2
PROTEAN - Bullish Flag, Morning Star, Fibonacci Retracement 38.2In the chart of "PROTEAN," a Bullish Flag pattern has emerged, suggesting a potential continuation of its upward trend. The pattern is characterized by a sharp upward move (pole) followed by a consolidation period (flag), forming a rectangular shape on the chart. The entry point for this pattern is identified above 1466, indicating a breakout from the consolidation phase. A stop-loss is set below 1410 to manage risk in case of a reversal. The target for this trade is set at 2000, aligning with the typical measure rule applied to Bullish Flag patterns, which measures the length of the initial pole added to the breakout point. Further reinforcing the bullish outlook, additional technical signals have been observed: A cluster of patterns, including a morning star candle formation on the hourly timeframe, signaling potential reversal or continuation of the uptrend. The prior pole trend exhibited a 45-degree angle, indicating strong momentum and trend direction. Fibonacci retracement level of 38.2% also supports the bullish bias, suggesting a healthy pullback within the context of an uptrend. Combining these bullish indicators—chart pattern, candlestick formation, trend angle, and Fibonacci retracement—provides a comprehensive technical analysis supporting a favorable risk-reward setup for trading "PROTEAN."
BSE:PROTEAN
by Arvind_Share_Academy
1
Gati Ltd - A Morning Star pattern perfectly formed on support.Swing - 113 to 177 Shallow Pullback - 38.20% retracement level Chart Pattern - Morning Star The price takes support from the level of 150 which is a 38.20% Fibonacci retracement level. This level is considered as a shallow pullback. And the price formed a morning star pattern on this support level. This type of structure indicates the start of an uptrend. 1st Resistance - 160 2nd Resistance - 177 These levels can be considered as targets. Hit the like button!! Show some energy!! Thanks Er. Simranjit Singh Virdi
GLong
by ssvirdi
Reliance - Classic morning star pattern formationReliance Industries Ltd is trading in a price range of 2200 - 2800 since Sep 2021. In between this a strong support and resistance formed where 2200 act as a support and 2800 as a resistance. Last week a bullish candlestick pattern formed in Reliance called Classic Morning Star at support level. Here are the characteristics of a classic Morning Star pattern: 1. The first candle is a long bearish candlestick, indicating that the bears are in control of the market. 2. The second candle is a short candlestick that gaps down from the previous day's close. This candlestick is also known as a "Doji" and represents indecision in the market. 3. The third candle is a long bullish candlestick that gaps up from the previous day's close. This candlestick represents a shift in momentum from the bears to the bulls. Morning star candlestick with inverted hammer at support level indicating a lot more.
NSE:RELIANCELong
by Arvind_Share_Academy
1