both side potential
Keep an eye on 200 EMA
avoid first 15min breakout
wait for 15 min candle closing
targets are marked
if the breakout comes after 10:00 am then the probability of winning will be more.
follow risk management
do your own analysis
do workout
do meditation
start reading books
NSE:BIOCON made an M pattern. But looking at the volume and the momentum, it seems the more selling will happen.
But if it bounces, then buy is also possible.
So both sides trade:
Trade: Buy above 280, SL: 276, T: 284/286
Sell below 272, SL: 276, T: 269/266
Recently observed divergence in price and RSI value of 15mins chart. plus it seems like a possible M pattern breakout if the price closes below 162. All targets are mentioned on the chart. Do your own analysis before making financial decision. NSE:IEX
In TCS we are seeing ascending triangle pattern. wait for the proper breakout, at the same time movement is not that much powerful, that's why we are seeing M PATTERN also, so wait for proper breakdown with volumn. This is just a view not a recommendation to trade. Trade at your own risk management.
ICICIGI Corrected 28% from an all-time high, 1200 level act as a strong support zone if 1200 level break it will fall further 10% to 15%, so be cautious
I feel to see M pattern in Tata Steel chart shared Below feels like a Big Move Thats couldn’t sustain before.
REFFER
mages.app.goo.gl/UuDKGMyxHYhKA6ZP8
#DRREDDY Look at the monthly for the "good" cup and handle pattern with a bullish reverse momentum divergence. Now look the weekly for the bad/ugly where it is forming a double top and approach neckline. To go for long or short depend on your time horizon for the trade.
#hdfcbank heading south. it slid from the year long trendline channel post q1 results and then
M pattern neckline broke off earlier to set loose the slide and now lost the Fibonacci 50 retracement level 61%
also along with a below 40 rsi bearish momentum. Twice of double bottom could take the FII darling till 1360?
NSE:TATAMOTORS is forming Double Top or you can say M pattern on 15 min chart .. which is considered as extremely bearish.
Levels are mentioned in the chart
To be safe
Short below : 289
Target : 282 or below
P.s : I am still in learning phase ... all the critics are appreciated .. please let me know if i am wrong.
Note : This is for educational purpose...
As shown on the chart, the double top pattern has occurred 3 times in the recent few months. Each time, the market has corrected significantly.
The entire second week of February, Nifty has been moving in a tight 200 point range, with buying coming at 15000 levels and strong selling at 15,250 levels. With the current levels of volatility and narrow contracting...
There were 2 strong indications to go short on Nifty:
1. M pattern (Double top) forming around 15,230.
2. TrendLine break and last kiss was also seen.
The target logically was the last region of consolidation where I expected Nifty to find support, which was around 15,100.
The market has been range bound since the post budget rally and is finding it difficult...
