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WESTLIFE - 2 Possible Entries with Inverse Head and Shoulder🙌 Welcome to another educational analysis, where we'll discuss the recent breakout of WESTLIFE from an Inverse Head and Shoulder pattern. Please note that this analysis is for educational purposes only, and I am not a SEBI registered analyst. 📊 Key Details 🚀 WESTLIFE broke out of the Inverse Head and Shoulder pattern on June 1st with significant volume, reaching an all-time high level. Let's discuss the two possible entries: First entry: Above 852, which is the breakout candle's high. Second entry: At the retest of breakout at neckline . For both entries, ensure the Stop Loss (SL) is placed below the neckline around 800 to manage risk effectively. The first entry is more suitable for aggressive traders, while the second entry provides a safer option for both aggressive and conservative traders. 💡 Technical Terms Explained 💡 Before we proceed, let's clarify some technical terms used in this analysis: 💡 Inverse Head and Shoulder pattern: A reversal chart pattern characterized by three troughs, where the middle trough (the head) is lower than the other two (the shoulders). The neckline connects the highest points of the two shoulders. 💡 Breakout: When the price of a security moves above a certain level of resistance, indicating a potential upward trend continuation or reversal. 💡 Neckline: The resistance line connecting the highest points of the two shoulders in an Inverse Head and Shoulder pattern. It acts as a crucial level to monitor for potential breakouts or breakdowns. Remember: Always conduct your own analysis and risk assessment before making any trading decisions. 💪 "Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful." 💪 💬 Feel free to share your observations and insights in the comments section. Your comments and feedback are greatly appreciated. Don't forget to like this analysis if you found it helpful! 🤝 Thank you for your continuous support, likes, follows, and comments. Your engagement keeps me motivated to consistently provide valuable content. ✅ For more articles and trade setups, follow me on TradingView: in.tradingview.com Remember to conduct thorough research and exercise caution while trading. Happy trading! 📊📈💪
NSE:WESTLIFELong
by AfnanTAjuddin
L_TFH - Bullish Consolidation with VolumesNSE: L_TFH is closing with a bullish consolidation candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 12% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:LTFLong
by BrahmaBull31
LIBERTY SHOES - Bullish Consolidation with VolumesNSE: LIBERTSHOE is closing with a bullish consolidation candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 14% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:LIBERTSHOELong
by BrahmaBull31
MANAPPURAM - Bullish Swing ReversalNSE: MANAPPURAM is closing with a bullish swing reversal candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 12% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:MANAPPURAMLong
by BrahmaBull31
UFLEX - Bullish Consolidation with VolumesNSE: UFLEX is closing with a bullish consolidation candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 11% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:UFLEXLong
by BrahmaBull31
1
01 Sep ’23 Post Mortem on Nifty - Neutral b/w 19563 & 19788 Nifty Analysis Recap from yesterday: “For Monday I wish to continue my bearish stance with the first target being 19563 and second 19484. If the momentum fades and we are unable to pick a direction in the opening 2 hours — I wish to change my stance to neutral to a wait and watch mode.” Firstly my bearish call did not work out today - that disappointed me a bit.Since the momentum has faded - it also makes sense to move to a neutral stance today. Opening was inline and the first 2 hrs of price move were in alignment to the action from friday (notice the continuous blue line drawn). What didnt make sense was the 133pts ~ 0.68% rally from the lows to 19734 levels by 13.00. Another 60 odd points - we would have gone into the bullish zone. One major news that broke today was NSE’s plan to extend the trading hours to 6 to 9pm as a separate session - source. Looking at the time slot, I guess its to include the office goers into this betting arena. We are already overdone with daily expiries, adding extra trading hours to bring in more participation may not work in the best interest of everyone except maybe the exchanges. Professional traders will always prefer reform stability over flexibility. If we push it too hard - these people may abandon ship and move to US markets. NSE has already said 9 out of 10 people lose money in derivatives. 90% of full time traders are not able to go profitable - how likely is it that part time traders who jump in between 6 to 9pm expect to make money? Trading itself is a stressful activity, its because we handle the frustration of going wrong along with losing money. 09.00 to 15.30 is usually a period where we remain absolutely focussed, distraction free & dedicated. People like me even eat lunch at the trading desk. Just imagine if we have to dedicate 18.00 to 21.00 also with a similar intensity - wont the work life balance be affected? On the 1hr TF, Nifty will have to break down below 19563 or break out above 19788 for a trend determination. I wish to change my stance to neutral as long as we remain between these 2 orange lines. Personally I prefer if Nifty breaks down and retests the August lows by this Thursday.
NSE:NIFTY
by viswaram
RAMCOCEM - Bullish Swing ReversalNSE: RBLBANK is closing with a bullish swing reversal candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 11% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:RAMCOCEMLong
by BrahmaBull31
RBLBANK - Bullish Consolidation with VolumesNSE: RBLBANK is closing with a bullish consolidation candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 13% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:RBLBANKLong
by BrahmaBull31
1
ADANIPORTS - Bullish Consolidation with volumesNSE: ADANIPORTS is closing with a bullish consolidation candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 13% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:ADANIPORTSLong
by BrahmaBull31