Moving Averages
BOSCHLTDThe chart is self-explanatory.
BOSCHLTD STOCK has shown a gradual upward movement, trading above the 50, 150, and 200 moving averages. After the breakout, the resistant has become a strong support, Considering these factors, it is possible for the upward movement to continue.
SHRIRAMFINThe chart is self-explanatory.
SHIRAMFIN STOCK has shown a gradual upward movement since June, trading above the 50, 150, and 200 moving averages with a steady increase. After the breakout, this stock has formed higher highs. Considering these factors, it is possible for the upward movement to continue.
Banknifty analysis for weekly expiry 01/10/2024.Banknifty weekly expiry can be seen taking market towards another round number figure of 52500 levels.
There was a good bearish movement on the daily charts, market closed 850 points lower. Chance of a follow through can be seen as both the index are moving in tandem.
Watch banknifty breaching 52780 levels as there will be double support break down.
Major levels to look for tomorrow :- 53060, 52780, 52625
Wait for the price action near the levels before entering the markets.
Tech Mahindra Monthly Expiry (Short)Tech Mahindra can correct itself due to following technical reason:
1) DoubleTop Formation/ M pattern
2) Swing low are broken
3) On Daily chart trading below 20 EMA
On Hourly chart trading below 20 & 50 EMA
4) Tried breakout yesterday failed today marubozu
seller on daily candle representing seller's in
control
5) Can correct further since it's breaking channel.
(Note: Author is neither responsible for anyone's profit or loss, nor a sebi registered RA, this only for educational purpose. Please do your own due diligence before taking any trades.)
Buying interest in Ethereum at key MA20 months moving average is coinciding with level where serious buying is witnessed in Ethereum.
Considering long-term monthly chart Log scale is used and targets and SL are marked on chart.
If buy triggers, it can take 8 to 15 months to achieve this target.
Stock Analysis: Rico Auto🚗 Multi-Year Breakout Alert!
Rico Auto has shown significant strength with a multi-year breakout, surpassing its 2005 all-time high. Let’s break it down:
Historical Resistance: The stock tested its 2005 all-time high two times:
In 2017, it reversed from these levels.
In 2023, it made another attempt but failed to break through.
February 2024 Breakout: This time, the stock finally broke the strong resistance with good volume in February 2024. This breakout suggests a potential long-term trend shift.
Current Retest: The stock has now returned to retest this key breakout level, which is now acting as support.
However, there’s one thing to watch out for:
📉 EMA Overview:
50 EMA: The stock is currently trading below the 50 EMA.
200 EMA: It is also below the 200 EMA, indicating the long-term trend is still bearish.
🎯 What to Watch:
A successful hold at the current support level could lead to an upward move.
But the stock will need to reclaim the 50 and 200 EMAs to signal stronger bullish momentum.
Keep an eye on volume and price action for a clear breakout or breakdown from these levels.
Always conduct your own research and analysis before making any investment decisions. 🚨
#StockBreakout #RicoAuto #TechnicalAnalysis #SupportAndResistance #EMAAnalysis
Bank Nifty Monthly Expiry (Short)Bank Nifty might give some correction due to following technical reason
1)Swing high are shifting and swing low are being tested
2)Triple top/ Double top Formation on 15 min chart
3)Trading below 20 EMA on 15 min
(Note: Author is neither responsible for anyone's profit or loss, nor a sebi registered RA, this only for educational purpose. Please do your own due diligence before taking any trades.)
Pullback With Good Volumes Testing 100 EMANSE:MAHLIFE has given today's pullback with good Volumes and is now testing 100 EMA on a daily timeframe a close above 616 and 100 EMA will be Crucial.
Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
HDFC BANK ( Looking goog to invest); small stoploss is enough;For short term investment ;
Leave a " Like If you agree ".👍
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Wait for small retracement & daily candle to close above - "1650".
Trade carefully untill ENTRY level.
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Entry: 1655 / 1640
target: 1675- 1700- 1750
sl: 1640 / 1630
major stoploss/ support: 1600
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Enter only if market Breaks
"Yellow box" mentioned.
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Don't make complicated trade set-up.📈📉
Keep it " simple, focus on consistency " 💹
Refer our old ideas for accuracy rate🧑💻
Follow for daily updates👍
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Refer old posted idea attached below.
Stock Alert: Mazagon Dock Shipbuilders Ltd.🚢 Reversal Pattern Alert 🚢
Mazagon Dock Shipbuilders is showing strong signs of a reversal near its support zone, accompanied by a significant volume breakout! 📈
This indicates potential buying interest and could present a great opportunity for those looking to capitalize on the momentum.
Key Observations:
📉 Support Zone: Price held firm around a critical support area, indicating strength.
💼 Volume Spike: Sudden increase in trading volume suggests growing investor confidence.
🔄 Reversal Signal: Technical indicators point towards a potential bullish reversal.
Keep an eye on this stock for a possible upward move! Always remember to manage your risks.
⚠️Disclaimer: The charts shared are for educational purposes only.
Happy Trading! 💹
Tata Technology now changing its course .As we have been observing for a long time, Tata Technology was stuck inside a parallel channel, now it has broken out of the channel and has also been successfully retested, and now Tata Technology can touch new heights. in my opinion, we can tread above 1135 with the SL of 1043
for the long term 1st target is 1200 ,2nd 1290, 3rd1400
Tube Invest of India NSE:TIINDIA is trying to break major levels after consolidation and taking 100 EMA Support with good volume today. Keep in Watchlist.
Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making any investment decisions.
PNB Gilts Might CorrectPNB Gilts might correct in recent days to come. Here are the technical reason :
1)Trading below 20 EMA & 50 EMA on daily chart
2)Head & Shoulder Pattern formation on daily chart
3)On Monthly chart it's negative with 117.8 as last month low(August) which is an important support level.
(Note: 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.)
tata motors is near 200 ema Tata Motors is now a big discount near 200 ema is a strong buy zone for a new move that is approx 938 now my point of view is buy near 938 with the Sl of 890 and 1st target is 1000 2nd 1100 3rd 1300
CVNA bullish to 180/200CVNA Loves the MAs. This stock will scare you straight, and still have you rushing back for more.
Patience and expiry are key here. I like January expiry on calls.
Look at the chart and you'll see the bottom volume strength, as well as the buyer strength over sellers
Looks good. NFA
Adani Power - Perfect Fibonacci Trade SetupAdani Power Trade Setup
The fibonacci setup is giving a very good trade setup for this stock.
the MACD trend lines are about to move up showcasing the end of downward cycle and it's perfectly setting on the fibonacci setup.
Wait for a day or two for the movement in the upward direction and take an entry in the stock with a price target of 895.
the trade is having a ratio of 1:3.6
Devyani International Potential Bullish MomentumFollowing a notable consolidation phase that commenced in January 2024, Devyani International has exhibited promising technical signals, suggesting a potential shift towards a bullish trend. Last week, the stock successfully breached the pivotal resistance level of 185 on the weekly timeframe, which is a critical psychological and technical milestone.
The 20 EMA has crossed above the 50 EMA on the weekly chart, a classic indicator of bullish momentum known as a "Golden Cross." This crossover typically signals a potential uptrend and aligns with the stock's recent move above the 185 pivot point.
Both the daily and weekly RSI readings have indicated bullish momentum, suggesting the stock has been gaining strength relative to its price action over the observed periods. The MACD indicator on both daily and weekly charts is also reflecting bullish dynamics, with the MACD line crossing above the signal line.
The stock has managed to close above the equilibrium level, a point where buying and selling pressures are balanced, on both the daily and weekly charts. A sustained close above this level could signify strong sentiment among investors, further corroborating the potential for upward momentum.
A Change of Character has been observed on the weekly chart, indicating a shift from prior selling exhaustion to potential buying interest. This technical pattern often precedes substantial price movements, and in this case, it may suggest that sellers are losing control, paving the way for bulls to take the lead.
Given the aforementioned technical indicators and patterns, the next resistance level is identified at approximately 236. Should the stock continue its bullish trajectory, this represents a potential upside of around 25% in the short term. Traders should closely monitor volume trends and broader market sentiment to fortify their positions.
Disclaimer: The information provided in this stock analysis is for informational and educational purposes only and should not be construed as financial advice. Always seek the advice of a qualified financial advisor or conduct your own research before making any investment decisions.
Banknifty Weekly Analysis Banknifty has formed Bullish Engluf candlestick pattern on weekly time. It is also taking support from multiple moving average channel.
CNXIT BULLISH !
1. Resistance Breakout:
- The index has historically faced selling pressure at 38,653 - 38,405 Zone, causing it to reverse or pause its upward movement.
- When a stock breaks above a strong resistance level, it means that buying demand has overwhelmed the selling pressure at that price point. This breakout is a positive sign, indicating that the chart may move higher, especially if it is a clean break (i.e., it closes significantly above the resistance level).
- The **strength of the breakout** is often measured by the volume of trading activity. If the breakout occurs on **high volume*, it indicates that a large number of market participants are involved, adding credibility to the When a stock breaks through a strong resistance level and retests that level with good volume, it can signal a strong bullish move. Here's a detailed breakdown:
2. Retest of the Resistance Level:
- After the breakout, it’s common to see a retest of the previous resistance level, which now acts as a support level. This retest occurs as some traders may take profits, or there may be some temporary selling pressure as the market re-evaluates the new price.
- If the stock successfully holds above the previous resistance (now support) on the retest, it confirms that the breakout was valid. This gives bulls (buyers) more confidence that the level will hold and that the stock has further upside potential.
3. Volume Confirmation:
- A retest with good volume is essential. If the stock holds the new support on strong volume, it signals that buyers are stepping in to defend the level, further reinforcing the idea that the stock is in a bullish phase.
- Conversely, if the retest occurs on low volume, it may indicate a lack of conviction from buyers, and the breakout may be prone to failure.
4. Bullish Expectations:
- When a stock breaks out of resistance and successfully retests it with strong volume, the expectation is that the stock will enter a new bullish trend. The prior resistance has now been transformed into a solid base of support, and the stock may experience momentum buying, pushing prices higher.
- Traders often see this scenario as a low-risk, high-reward setup. Their stop-loss would typically be placed just below the new support level, while the upside target could be based on previous price patterns, such as Fibonacci extensions or previous highs.
5.Target :
- it is on its all-time high targets on fib zones,pivots 0r based on future price action basis.
# Summary:
- **Breakout of strong resistance Indicates potential for higher prices.
- **Retest of resistance as support Confirms strength of the move if support holds.
- **Good volume on retest: Adds confidence in the bullish move.
- **Bullish expectation Likely continuation of the upward trend.
This combination forms a high-probability bullish setup in technical analysis.
#cnxit #itsector #nifty
Kotak Bank Swing Idea (Long)Kotak Bank is stuck in parallel channel range for awhile & might make a move in coming weeks due to following reasons
1)Trading above 20 EMA & 50 EMA on daily chart
2)Inverse head & Shoulder formation on weekly chart
3)Double Bottom pattern formation on daily chart
4)Swing Lows are not broken on weekly
(Note: Not responsible for profit & Loss nor a sebi registered RA, this only for educational purpose. Please do your own due diligence before taking any trades.)
Nazara TechnologyWe are closely following Nazara Technologies and believe it’s poised for a breakout based on its technical patterns. Consolidation near resistance often suggests a potential for a breakout if the price action confirms it. If Nazara Technologies breaks through the 1020 level, it could indeed pave the way for further upside, potentially reaching your targets of 1350, 1500, and 1650+.
It’s always good to keep an eye on broader market conditions and any company-specific news that could impact the stock’s performance. Additionally, setting stop-loss orders or having an exit strategy in place might help manage risk if the price movement doesn’t go as expected.
