Nse
BANKNIFTY ( 22.06.2023 )Don't be aggressive
.
if there is possibility for bullish--
entry: 44170
target-44360--44500--44750
.
If down trend starts
entry:43890
t1-43750--t2-43550
.
possibility for stoploss hunting will be there.
Don't trade in "no trade zone"
Trade carefully.
.
after breaking green $ red box mentioned,
trend will be confirmed.
.
.
refer old ideas.
1D TATAPOWER - Short Position1. Bearish Engulfing Pattern formed at Supply and Demand Zone.
2. Additionlly 50% Fibonacci Retracement Level is added.
3. Round Number 200.00 is mentioned and that will be the entry point below 5-10 points.
4. EMA 89 got confluence on that pattern which confirms A++ trade.
5. Half of your stock will be sold at take profit level and move that stop loss to breakeven. And leave the remaining stocks to free rally.
6. TP and SP level clearly mentioned in the chart window.
GENUS POWER - GETTING GENIE POWER?Genus power has been setting up a solid setup wherein the stock has given breakout in April 2022 after almost 14 years and since then consolidated for over 1 year to form base. Now at cmp this has started getting fuel to run further.
Targets of 145-160 are unfolding in it.
how to trade apcotex industries?The price seems to have reached the end of a period of "accumulation" at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend.
The Head and Shoulders Bottom pattern is observed after a significant downtrend, characterized by three consecutive price declines. The middle decline forms the lowest point, known as the "head," while the other two declines form the "shoulders" at approximately the same level, but higher than the head. The pattern's volume is highest during the initial two price declines, decreasing through the right shoulder. Ultimately, the pattern confirms a reversal to a new uptrend when the price breaks above the neckline, drawn between the two highs, accompanied by a surge in volume. This breakout marks the end of a period of accumulation at the bottom and signals a shift in the trend direction.
expected targets has been marked in chart.
Request everyone to share, like, comment this chart for educational purpose.
Note for everyone who came across this study:
This chart is only for educational purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade.
Head & Shoulder pattern Target Achieved in Nifty 50 IndexI had posted about a Head & Shoulder pattern breakout on Nifty 50 Index. I followed it up with a couple of posts showing how the pattern is working out. Today, I am happy to post that the target of this breakout is achieved.
PS: News flow only matters for Intraday players. For positional bets, patience is the key. Learn a pattern, follow it and start preaching it. Only then the results will start to appear.
Series of Bullish Patterns in CRAFTSMANCRAFTSMAN stock chart has formed a series of bullish patterns. Let's break it down:
📈 Inverse Head and Shoulders Pattern 📈
➤ The inverse head and shoulders pattern formed from January 2023 to May 2023 at all-time high levels.
➤ Inverse Head and Shoulders is generally considered a bullish signal.
📈 Breakout and Retest 📈
➤ On May 31st, 2023, a breakout occurred for the inverse head and shoulders pattern with good volume, indicating a potential upward move.
➤ The next day, on June 1st, a retest of the breakout level occurred at the neckline of the inverse head and shoulders pattern, further strengthening the bullish case.
📈 Ascending Triangle Pattern 📈
➤ Following the retest, an ascending triangle pattern formed on the lower 15-minute time frame.
➤ An ascending triangle is a bullish continuation pattern, indicating potential upward momentum.
📈 Based on these patterns, the overall technical outlook appears positive. The inverse head and shoulders pattern followed by a breakout, retest, and subsequent formation of an ascending triangle suggests potential upward momentum in the stock's price. Consider planning a buy entry upon the breakout of the ascending pattern if you missed the entry at the retest of the neckline.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. I am not a SEBI registered analyst. Always conduct your own research and consult a qualified professional before making any investment decisions.
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Technical Terms Explained :
Inverse Head and Shoulders Pattern : A bullish reversal pattern characterized by three successive troughs, with the middle trough (the head) being lower than the other two (the shoulders). It indicates a potential trend reversal from bearish to bullish.
Breakout : When the price of an asset moves above a significant level of resistance, signaling a potential upward move.
Retest : After a breakout, when the price retraces back to the breakout level, acting as a test to validate the breakout's strength.
Ascending Triangle Pattern : A bullish continuation pattern characterized by a series of higher lows and a horizontal resistance line. It suggests potential upward momentum.
Titan Breaks Resistance, Soaring to New Highs🚧 Introduction 🚧
Titan, a stock that has been supported by a trendline since the COVID-19 period in March 2020, has exhibited a strong upward trend. However, it encountered a formidable resistance zone between October 2021 till May 2023, ranging from 2677 to 2791. This resistance acted as a significant supply zone for nearly 20 months. Finally, on May 29, 2023, the stock broke through this supply zone and is currently trading at an all-time high of 2861.
⚙️ Analysis ⚙️
Titan has found support from a trendline.
Between October 2021 and May 2023, the levels of 2677 to 2791 served as a strong resistance zone.
On May 29, 2023, Titan broke above this resistance and is currently trading at 2861, an all-time high.
🔍 Trading Strategy 🔍
Traders have two options based on their risk appetite:
Aggressive traders can consider buying above the high of the breakout candle.
Safe traders may choose to wait for a retest of the breakout level and then enter a buy position.
⚠️ Disclaimer ⚠️
This analysis is for educational purposes only, and I am not a SEBI registered analyst. Please conduct your own research and consult with a certified financial professional before making any investment decisions.
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📚 Technical Terms Explained 📚
Trendline: A line drawn on a chart to connect multiple price points and identify the direction of a trend.
Resistance: A price level where selling pressure outweighs buying pressure, causing the price to reverse or stall.
Breakout: The point at which the price breaks above a significant resistance level, indicating a potential upward movement.