Get started

Neckline

Grasim at make or break levelAs seen on the chart, Grasim stock is trading near a strong supply zone of 1750-1775. The stock also has taken support from trendline which is drawn from 2020 lows. If the stock manages to break its ATH level and sustain above this supply zone for few weeks, we can see a flag breakout and a new bull uptrend in this stock. However, rejection from supply zone can bring to stock to 1670, 1580 or below. This is a FNO stock and hence we can expect a good amount of call writing at 1800 levels. Also, the chart is very similar to JSWSteel chart which i posted 2 days back. Note:-Idea has been shared for educational purposes and shouldn't be considered as a recommendation.
NSE:GRASIMLong
by chartistamey
Cup and handle breakout in auto sector stockAshok leyland has been consolidating in a cup and handle pattern since 2019 and is on the verge of a breakout. A weekly closing above 170 will confirm the breakout which will the stock to 200+ levels in short time. Stock is looking bullish and can be added on dips upto 155 with a SL of 144 DCB. Chart looks similar to Midhani which gave a sharp upmove after breakout Note:-Idea is shared for educational purposes and should not be considered as a recommendation.
NSE:ASHOKLEYLong
by chartistamey
4
This stock can fly after breakout!Redington has been forming an inverted head and shoulder pattern from the past 2 years. A weekly closing above 200 will confirm the breakout which will unlock huge targets for the stock. This stock has nice fundamentals with a good dividend yield so one can consider this stock for long term investment as well. Keep this stock in watchlist as the rejection in previous week is due to dividend correction. Idea shared for educational purposes.
NSE:REDINGTONLong
by chartistamey
East india hotel-Beautiful IVHS patternEIHOTEL has beautifully formed an inverted head and shoulder pattern in weekly TF with neckline being an important supply zone of 200-210. The stock has given a weekly closing above this zone and is looking ready for a breakout. It can be added on dips upto 195 with a SL of weekly closing below 184. ATH level of 227 might prove as a minor resistance before a bigger upmove. Keep this stock on watchlist as hospitality stocks like ITC, Chalet hotels, Indian hotels have already started the uptrend. Please note that idea is shared only for educational purposes and should not be taken as a recommendation!
NSE:EIHOTELLong
by chartistamey
Long Setup in Sonata SoftwareAn On Neck Chart Pattern Breakout happened on the Daily Time frame of NSE:SONATSOFTW Price Action is well supported by the volume. The stock is currently in uptrend making higher highs and higher lows. One can add this stock into their stocks to buy list. Initiate the long trade only according to the levels mentioned. Stop loss will be on a Daily closing basis. Trend Analysis :- UP Trend Chart Pattern :- Bullish On-Neck Chart Pattern Technical Indicator :- Positive MACD Crossover
NSE:SONATSOFTW
by raigvivek
Cup and handle in Mishra dhatu NigamMIDHANI has formed a beautiful a beautiful cup and handle pattern from 2020. Now, the stock is standing near its neckline and is looking strong. However, the stock has rallied from quite some time now so wait for consolidation after breakout or a retracement to get a good SL. Currently, 230 is a strong support. Positional Target can be 350 which is 90 points(the length of handle above the neckline) . Note:-Idea is shared for educational purposes and should not be considered as a recommendation.
NSE:MIDHANILong
by chartistamey
Banknifty ( 31/07/2023 )Banknifty for ( 30/07/2023 ) Enter once after " Breakout and Retracement " . . For " long " entry: 45530 target: 45760 stoploss: 45450 . . For " Short" entry: 45380 target: 45250 - 45020 stoploss: 45510 . . Enter only if market Breaks "Yellow box" mentioned. . Wait for proper reversal and conformation. . Don't make complicated trade set-up.📈📉 Keep it " simple, focus on consistency "💹 Refer our old ideas for accuracy rate🧑‍💻 Valuable comments are welcomed-✌️ . refer old ideas attached below
NSE:BANKNIFTY
by TheNuraTrading
2
Banknifty Intraday. (Next week)Banknifty for ( 30/07/2023 ) Enter once "Breakout and Retracement" . . For " long " entry: 45530 target: 45760 stoploss: 45450 . . For " Short" entry: 45400 target: 45250 - 45020 stoploss: 45510 . . Enter only if market Breaks "Yellow box" mentioned. . Wait for proper reversal and conformation. . Don't make complicated trade set-up.📈📉 Keep it " simple, focus on consistency "💹 Refer our old ideas for accuracy rate🧑‍💻 Valuable comments are welcomed-✌️ . refer old ideas attached below
NSE:BANKNIFTY
by TheNuraTrading
Trading Reverse Head & Shoulder PatternWhat is Reverse head & shoulder ? Ans:- The Reverse Head and Shoulders is a bullish reversal pattern that is formed in the stock market when an asset experiences a decline, followed by a moderate recovery, then another decline to a lower level, another recovery to near the original decline, and finally another decline to a level that is lower than the previous decline. The pattern is considered complete when the price rises above the neckline, which is the line connecting the highs of the two recoveries. The pattern is named after its visual appearance, which resembles the human head and shoulders, but in reverse. The three troughs form the shoulders and the head, while the neckline serves as the confirmation point for a reversal. The height of the pattern can be used to estimate the potential upside for the asset once the reversal is confirmed. The Reverse Head and Shoulders pattern is often seen as a positive sign for the market, indicating a potential end to the downtrend and a shift towards upward momentum. However, it is important to consider other factors such as market sentiment before making a trade based on this pattern. Now how to trade Reverse Head & shoulder pattern? Ans:- To trade this pattern we should follow:- Identifying the pattern: To trade the Reverse Head and Shoulders pattern, you first need to identify it on a stock chart. Look for three troughs followed by a neckline that connects the highs of the two recoveries. Confirming the pattern: Once the pattern is identified, you need to confirm it by waiting for the price to rise above the neckline. This is considered the confirmation point and signals the start of a potential upward trend. Setting a target price: The height of the pattern can be used to estimate the potential upside for the asset. Measure the distance between the neckline and the lowest trough and add it to the neckline to determine a target price. Placing a trade: Once the pattern is confirmed and the target price is set, you can place a long (buy) trade. It is recommended to use a stop loss order to protect your trade in case the pattern does not play out as expected. Monitoring the trade: After placing the trade, it is important to monitor the stock price and adjust your stop loss if necessary. Close the trade once the target price is reached or if the stock price drops below the neckline, indicating a potential reversal. It is important to keep in mind that no single pattern or indicator can guarantee success in the stock market. It is also recommended to consider other factors such as market sentiment and technical indicators before making a trade based on the Reverse Head and Shoulders pattern. Pros: Sign of a potential trend reversal: The Reverse Head and Shoulders pattern is often seen as a positive sign for the market, indicating a potential end to the downtrend and a shift towards upward momentum. Estimation of potential upside: The height of the pattern can be used to estimate the potential upside for the asset, allowing traders to set realistic targets and determine their risk-reward ratio. Relatively easy to identify: The Reverse Head and Shoulders pattern is relatively easy to identify and does not require complex analysis, making it accessible to traders of all levels. Con: No guarantee of success: No single pattern or indicator can guarantee success in the stock market, and the Reverse Head and Shoulders pattern is no exception. The pattern can be disrupted by external factors such as market sentiment, economic data releases, and geopolitical events. False signals: The pattern is not always reliable, and false signals can occur if the price does not rise above the neckline or if the trend does not continue as expected. Need for confirmation: The pattern is not considered complete until the price rises above the neckline, and traders must wait for this confirmation point before entering a trade. This can lead to missed opportunities or increased risk if the pattern does not play out as expected. In conclusion, The Reverse Head and Shoulders pattern is a bullish reversal pattern in the stock market that is formed by a series of declines and recoveries and, but it should not be relied upon exclusively. It is important to consider other factors and to always manage risk when trading based on this pattern.
NSE:BANKNIFTYEducation
by pn202377
BankBaroda - Bull Trend Continuation with ConfluenceNSE:BANKBARODA What is Confluence trade ? Confluence trade more than one technical analysis methods give the same trade signal. It includes the technical indicator as well with the combination of Patterns, Price action and other charting tools. Originally, the term confluence is used to describe a geographic point where two or more rivers come together to form a single body of water. Traders are using this logic to describe the confluence of multiple trading signals. BankBaroda weekly chart have a confluence of indicator with support in Candlestick chart as follow: 1. RSI = on Head and Shoulder neckline. 2. RSI above 50 indicates bulls are in power. 3. Simple Moving Average : 20 and 200 moving average creating Golden Cross 4. BankBaroda back on Trendline again indicates Support at 90.00 5. BankBaroda above both moving average 6. BankBaroda back on trendline with confirmation of Bullish Price action. 7. Trend continuation can be seen from Price action chart. 8. Trendline breakout at 66 (buy entry with stop loss 63 ) . Trade : Buy for Long term - Bullish continuation Entry : 92.5 Today 25 January 2022. Stop loss: 89.00 Target for long term : 100 - 107 - 110 - 120 - 140 - 180 ++++++++ Note : All the trade I initiate do not have stop loss more than 4%
NSE:BANKBARODALong
by FalgunPrajapatiTrading
2