Mankind Pharma Swing/PositionalHello Everyone,
Mankind Pharma looking good volume and about to breakout for good bullish swing/positional price is above EMAs RSI showing strength.
Moving Averages
Radico Khaitan Ltd – Resistance Breakout Setup📊 Analysis:
The stock is consolidating just below a key resistance zone near ₹2,457, forming higher lows and indicating bullish pressure. Supported by the 21-EMA and 50-EMA, the price is preparing for a potential breakout with increasing momentum.
📈 Trading Plan:
Entry: Buy above ₹2,460 (on breakout confirmation with strong volume).
Target 1: ₹2,600
Target 2: ₹2,665
Stop-Loss: ₹2,372 (below recent support and EMAs for risk management).
🛑 Risk-to-Reward Ratio: Approximately 1:2
💡 Note: Look for a decisive candle above ₹2,460 with high volume to confirm the breakout. Stay cautious if the stock fails to sustain above resistance.
TCS: Bullish with Key Resistance at 4500Topic Statement: TCS is moving in a bullish direction, with resistance at 4500 and opportunities for channel trading.
Key Points:
1. The stock is trending within an up-trending channel, signaling continued bullish momentum.
2. A key resistance level exists at 4500, which may limit short-term gains.
3. Ideal buying opportunities are near the lower end of the channel, where the price aligns with the 180-day moving average.
Vraj Iron And Steel - Daily - Short TermVraj Iron and Steel is trying to cross 20 EMA daily line.
if it closes above 20 EMA line with and close above small resistance then one can enter consider entry. Price is moving around 220-226 since few days.
Entry above 226 on daily closing basis
SL : 220, 212
Target 1 : 240++
Target 2 : 270++
AMBERAMBER has given approx 20% correction from the top. Retraced about 50% from recent rally. If it doesn't close below 5700 then it may take a good bounce and me resume its rally from this levels. Risk-reward is quite in favor. RSI reversal on daily time-frame also observed. Keep it on radar. AMBER is one of the stock which IMO seems fundamentally strong as well. Do your due diligence.
WIPRO - broken out of an Ascending Wedge patternASCENDING WEDGE PATTERN -
wipro has broken out of ascending wedge pattern with gap-up opening indicating strong bullish momentum for the stock
100D MOVING AVERAGE -
price has tested the 100D simple moving average several times and have gone upwards indicating strong potential for upward movement
HIGHER HIGHS & HIGHER LOWS -
price has formed multiple higher highs & higher lows indicating price is having bullish momentum
TARGET PRICE -
price will go till 317 level
Nifty analysis for 11/12/2024.
Nifty is in a range bound cycle after the bullish move from the recent low. 50% Fibonacci levels is acting as a crucial resistance level for the market.
Overall market seems bullish but still the market can take the resistance form fib levels and revert to continue the bearish trend.
The moving averages on the hourly charts are near to the trading price and it can move either way.
Major support levels :- 24500, 24330, 24170
Resistance levels :- 246660, 24770
Wait for the price action near the levels before entering the market.
NMDC Swing idea (Long)NMDC can give breakout due to following technical reason:
1) Breaking a range after 2+ month consolidation
2) Double bottom pattern(or W pattern) formation in daily & weekly chart
3) Trading above 20, 50 EMA on daily & weekly
4) Swing low are not broken, range is slowly shifting higher side
(Note: Author not responsible for anyone profit or loss, nor a sebi registered RA, this only for educational purpose. Please do your own due diligence before taking any trades.)
flag pattern breakout Pitti Engineering has broke the flag pattern. This trade is little risky because the candle next to breakout candle has shown resistance to bulls and also the volume is very high but since it is Doji candle there is indecisiveness. To swing high in this trade entry could be made tomorrow or we can wait for this week's closing. Breakout candle has good volume.
JSW Energy RSI positive divergene and HARMONIC ANTI BAT patternHello Everyone,
Jsw energey taking support of trendlines and demand zone of 600 and 640 small bounce is there RSI positive divergence and BULLISH harmonic pattern ANTI BAT formed so its overall confluence set up EMA50 will act as resistance breaking above that will go for bullish upto 780++ gor both swing as well as positional is overall reverasl set up
KSCL BREAKING LONG TIME RESISTANCEKSCL breaking resistance on daily basis
good volume building up strong rsi
20ema crossing 200ema above side
#target 1200,sl 850
NO BUY/SELL RECOMENDATION
BAJAJ Finance swing/positional Set upHello everyone,
Bajaj finance reverse from support and rsi positive divergence now break 50 ema and W pattern formation is there bullish momentum possible till 7150, 7350, 7600+++
Bullish Breakout on Indian Renewable Energy LtdThe stock of Indian Renewable Energy (NSE: INDIANRE) is showing strong bullish momentum, with a breakout above the descending trendline that has been acting as resistance for several weeks.
Key observations:
Trendline Breakout: The price has successfully closed above the descending trendline, signaling a potential trend reversal.
EMA Support: The stock is trading above the 200 EMA (currently at ₹190.05), confirming a shift in long-term sentiment to bullish.
Volume Spike: A significant increase in trading volume accompanied the breakout, adding credibility to the move.
RSI Momentum: The RSI is currently at 62.38, showing strength but still below the overbought zone, leaving room for further upside.
Trade Setup:
Entry: ₹218 (above the breakout candle's high for confirmation)
Stop Loss : ₹205 (below recent consolidation and EMA 200)
Target 1: ₹240 (prior resistance level)
Target 2: ₹260 (next major resistance zone)
Risk-Reward: This setup provides a favorable risk-reward ratio, with the potential to capitalize on the bullish momentum.
Disclaimer: This is for educational purposes only. Conduct your own research or consult a financial advisor before making trading decisions.
Nifty weekly expiry intraday levels for 25/12/2024Nifty has given a nice closing around the resistance zone and a good support on 20 EMA is there on 30 minutes.
Tomorrow is weekly expiry and a volatile trading day will be there as all the volume will be in this only index tomorrow.
Support levels :- 24460,24345
Resistance :- 24570, 24670
If market consolidate in the first half and gives a break out, trending move can be capture either side.
Wait for the price action near the levels before entering the market.
KPITTECH DOUBLE BOTTOM BREAKOUTKPITTech double bottom breakout
with volume spike strong rsi
after breaking 200ema 1550
#target 1550-1800-1900
NO BUY/SELL RECOMENDATION
IREDA CMP 207 Weekly Chart Forming Parallel channelIREDA is forming Parallel Channel on Weekly chart.
RSI 14 is going up slowly. Price is trying to cross 20 EMA line on weekly basis.
Resistance around 229-234, 260-264 and ATH 310
Support 189, 170
Target 1 : 310
Target 2 : 540++
Probable Time Period : 3-5 Months
Union Bank of India Triangle BreakoutThe stock is breaking out of a descending triangle pattern and has successfully retested the breakout level. A bullish momentum is expected as the retest holds strong, supported by rising volume and favorable technical indicators.
Trade Setup:
Entry: ₹126.06 (current price near breakout zone)
Stop Loss: ₹117.50 (below key support level)
Target: ₹159.88 (measured move based on triangle height projection)
Technical Observations:
200 EMA Support: The price has reclaimed the 200 EMA, indicating strong bullish sentiment.
RSI: The RSI is trending upwards near overbought territory but has room to rise further.
Volume: Increasing volume confirms breakout strength.
Strategy:
Long Entry: Enter above ₹126.06 after a breakout confirmation.
Risk-Reward: Favorable with a target near ₹159.88 offering significant upside potential.
Position Management: Trail stop loss once the price reaches ₹140 to secure profits.
Coforge - Bullishness on overextentionTopic Statement: Coforge is on a robust bull run but currently overbought, signaling a potential correction ahead.
Key Points:
1. The price has overextended above the 360-day moving average, indicating a likely pullback.
2. The stock has strong fundamentals, reinforcing its long-term potential.
3. Ideal buying opportunities arise when the price is near or below the 360-day moving average.
Multiple EMA Strategy Buy and Sell signal is mainly the big Green and Red triangles, please use the 4 hour time frame or 3 Day for more accuracy. If there is any discrepancy please let me know. I'll correct them. Thank you.
HIMATSEIDE CMP 194 - Monthly - Symmetrical TriangleHIMATSINGKA SEIDE LTD forming Symmetrical Triangle pattern on monthly chart.
- Support 145, 120
- Target 1 : 383++
- Target 2 : 534++
Bullish Breakout in Castrol India Ltd: Falling Wedge Pattern ConCastrol India Ltd has shown a strong bullish signal by breaking out of a falling wedge pattern on the daily chart. The breakout is accompanied by a significant surge in volume, confirming the strength of the move.
Suggested Trading Levels:
Entry: Near ₹220.34 (current breakout level).
Stop Loss (SL): ₹195.00 (below the breakout zone and support level).
Targets:
Target 1: ₹250.00 (initial resistance level).
Target 2: ₹280.00 (based on the height of the falling wedge added to the breakout point).
Rationale:
Breakout Confirmation: The price has clearly broken out of the falling wedge pattern with strong volume, indicating bullish momentum.
Stop Loss Placement: Below ₹195.00 ensures protection against false breakouts while respecting the wedge boundary.
Target Calculation: The pattern's height provides a projection toward ₹280.00, with ₹250.00 as the intermediate resistance.
Nifty analysis for 03/12/2024Nifty has been trading in a range for last five trading session and there are possibility of a trend reversal as the chart seems to me.
It is trading around the Hourly EMAs and has closed above it after good fall on Thursday.
If there is a break out of the resistance zone, 24500 can also be breached and new highs around 24730 can be seen.
A base and W pattern formation is there around the low created. Buy on dip can be done once the crucial round number figure is taken out.
Resistance :- 24350, 24500, 24940
Support zone :- 24090-24140
The market is looking strong for the coming days. Market reaching 25k this week or the next can be seen.
Wait for the price action near the levels before entering the market.
OFSSThe chart is self-explanatory and is shared for educational purposes.
OFSS STOCK has shown a gradual upward movement, trading above the 50, 150, and 200 moving averages. After the breakout, the resistance became a support. Considering these factors, it is possible for the upward movement to continue.
