On 1H TF
I spotted a Head Shoulders Pattern with Left and Head had been done so I will wait for the Right Shoulder.
If my view is true, $1.7 will be a next support
Wait for a confirmation
On 4H TF
ATOM is retesting #SupportZone on day chart
Seem ATOM's creating #ReversalPattern that's Inverse Head Shoulders
$9.7 is the important level
Can wait to break and close above this level to join next bullish
Time will tell
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...
NSE:ISEC
Time Frame: Weekly
Pattern : Head and shoulders
Learning: Importance of Neckline as support in Head and Shoulder Pattern
Bookish knowledge says head and shoulder is reversal pattern but in reality neckline plays very important role as a support
As 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...
EIHOTEL 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...
An 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...
Ashok 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...
MIDHANI 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...
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,...
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...
Shoppers stop has been in a bull run since 2020 and has given multibagger returns to its investors.
The stock has beautifully consolidated and formed a rounding bottom pattern and is currently near its ATH.
A weekly closing above 820 will push the stock to levels of 850,880+
However, there is always higher risk involved in stocks at ATH so trade accordingly.
This...
Welcorp has beautifully formed a cup and handle pattern in weekly time frame.
Currently, stock is trading at the neckline.
Be cautious in this stock as there can be multiple stoploss hunting before genuine breakout.
Targets can be minimum 100 points from CMP for positional and long term perspective.
We have seen a bearish move in Nifty and Reliance from couple of days.
Today, Reliance is at a strong support forming head and shoulder pattern at neck line. Wait and watch how the market reacts now.
NIFTY making doubble tip and bearish divergence on daily frame. we can go short after it breaks the neckline.17300-18100 is a consolidation area it may spend few weeks in this area.
NSE: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...
Adani Green has given a beautiful pullback to its previous
1. resistance zone
2. double bottom neckline
3. trendline
A possibility of a long trade when the high of the most recent candle is broken on above average volume which breaks theresistance level, neckline and
push off from trend line.
Targets can be taken at T1 and T2
Keep It Simple
