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Bandhan Bank - Head and Shoulders Bottom"Head and Shoulders Bottom" or "Inverse Head and Shoulders" pattern formation on daily chart of BANDHANBNK. This pattern is often used by traders to identify potential trend reversals in financial markets, particularly in stocks. The pattern indicates a shift from a downtrend to an uptrend. Here's a breakdown of the pattern: Downtrend and Accumulation: The pattern typically forms after a prolonged downtrend. During this period, the price reaches a bottom and starts to consolidate, forming what you referred to as a "period of accumulation." Three Declines: The pattern is characterized by three price declines: a lower low (the head) surrounded by two higher lows (the shoulders) that are roughly at the same level. The head and shoulders create a distinct visual pattern that resembles a head with two shoulders on each side. Volume: In the context of this pattern, volume plays a significant role. It's usually highest during the formation of the left shoulder and the head. As the right shoulder forms, volume tends to decrease, indicating diminishing selling pressure. Neckline: The neckline is drawn by connecting the highs of the two shoulders. It acts as a resistance level that needs to be overcome for the pattern to be confirmed. Reversal Confirmation: The pattern is confirmed when the price breaks above the neckline. This breakout is typically accompanied by a surge in volume, indicating increased buying interest. This breakout suggests that the selling pressure that had dominated the downtrend is waning, and buyers are gaining control. Price Projection: Traders often project a target for the new uptrend based on the pattern's height. This can be done by measuring the vertical distance from the lowest low (the head) to the neckline and then adding that distance to the neckline breakout point. It's important to note that while the Head and Shoulders Bottom pattern can be a powerful tool for identifying potential trend reversals, it's not foolproof. Not all instances of this pattern lead to successful reversals, and false breakouts can occur. As with any technical analysis pattern, it's advisable to use it in conjunction with other indicators and analysis methods to increase the accuracy of your trading decisions. Note for everyone who came across this reference: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:BANDHANBNK
by hardeepssethi
SBICARD - Bullish Swing ReversalNSE: SUVEN 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:SBICARDLong
by BrahmaBull31
SUVEN - Bullish Consolidation with VolumesNSE: SUVEN 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:SUVENLong
by BrahmaBull31
9
IRCTC - 82% RETURNS!!!BUY - IRCTC CMP - Rs. 610 Target - 1: Rs. 720 Target - 2: Rs. 910 Target - 3: Rs. 1120 . . Technicals - 1) Bullish Flag Breakout . . Fundamentals - 1) IRCTC operates through five segments: Catering, Railneer, Tourism & Train Operation, State Teertha, and Internet Ticketing. It offers mobile catering services and other catering services, tourism products and services, and packaged drinking water under the Rail Neer name. Additionally, it offers train ticket booking and travel insurance services, as well as operates irctctourism.com, a tourism portal. 2) IRCTC's financial track record, the company is of good quality with a fair valuation. 3) The company's current market capitalization is ₹48,288 Cr., with a 52-week high of ₹777.7 and a 52-week low of ₹557. 4) The latest PE ratio of IRCTC is 51.32 and the latest PB ratio is 19.37. The company's TTM revenue/sales are ₹3,267 cr. . . This is just a view, please trade at your own risk. . . Follow me for more!
NSE:IRCTCLong
by nilakshgupta
3