Reliance IND Infra Ltd. (Cup & Handle)Date- 14th March 2024
Time - 18:41
-As we can see RIIL has formed Cup& Handle Chart Pattern and also trying to retest today on daily basis.
-One more thing I have noticed and applied here is Fixed Range Volume Profile Tool , to identify where exactly the most volume has created. Which was 1000 Rs. in this case.
-If Current price is above POC (Point of Control) red line means, next big supports are near that price. So, if its breakdown from retest point it can go till 1000 Rs or if it revered from rested point then 1st Target will be 2384 Rs . according to Cup & Handle Pattern.
- Also, on smaller Hourly Timeframe is showing Bullish Continues Divergence too.
Nseindia
Head and SHoulder visible on Weekly Time Frame### Key Patterns
1. **Inverse Head and Shoulders Pattern**:
- **Left Shoulder**: Formed around late 2017.
- **Head**: Formed around early 2020.
- **Right Shoulder**: Formed around early 2023.
- This is a bullish reversal pattern suggesting a potential upward movement.
2. **Neckline**:
- The horizontal line connecting the peaks of the shoulders and the head, which has been broken recently indicating a potential upward breakout.
### Indicators
1. **Volume**:
- A spike in volume can be seen around the time of the breakout, which adds credibility to the breakout.
2. **RSI (Relative Strength Index)**:
- The RSI divergence indicator below the main chart shows bullish signals at various points where the stock was oversold (RSI near 30) and has moved upwards.
- Current RSI is around 54.61, which is in the neutral zone, suggesting there is still room for upward movement before becoming overbought.
### Trendlines
- An upward sloping trendline is drawn from the bottom of the head to the recent price action, indicating an ongoing uptrend.
### Price Levels
- **Current Price**: 127.25 INR
- **Support Levels**: Around the neckline level (~95.00 INR) and previous low points.
- **Resistance Levels**: Previous peaks and psychological levels such as 168 INR, 200 INR, etc.
### Analysis Summary
- **Bullish Signal**: The inverse head and shoulders pattern, a recent breakout above the neckline, and the confirmation with increased volume are strong bullish signals.
- **RSI**: The RSI is in the neutral zone, allowing for potential further upward movement.
- **Trendline**: The upward trendline suggests continued bullish momentum.
### Trading Strategy
- **Entry Point**: Consider entering around the current price level (127.25 INR) or wait for a slight pullback to the neckline (~95.00 INR) for a safer entry.
- **Stop Loss**: Place a stop loss slightly below the neckline (~90-95 INR) to manage risk.
- **Target Price**: Look for resistance levels as potential target points, starting with 150 INR and moving upwards.
This chart indicates a positive outlook for Autoline Industries, given the technical patterns and indicators. However, it is important to consider overall market conditions and other fundamental factors before making any trading decisions.
Good BO possibleGreen Line = BO (a close above 351)
Redline = SL (a close below 326)
Blue line = Target Potential
T1 = Target one, could face some resistance here. Once this is broken the above T2 becomes a possibility. Could book half at T1 and trail the rest.
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Trading the markets is living a few years like most people won’t, so that you can spend the rest of your life like most people can’t.
- Yvan Byeajee
Good Possibility in the makingAll details marked on chart itself.
Strict SL to be followed. Once the momentum picks up above entry level, trail SL to reduce loss and protect profits.
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I think the biggest mistake of all is the mistake that is most human, that we all commit, every one of us, including you and me.
Which is the inability to admit you made a mistake.
- Jason Zweig
SWING IDEA - RAIN INDUSTRIESRain Industries has emerged as an intriguing prospect, presenting a compelling case for a potential upswing.
Reasons are listed below :
Rain Industries has established a sturdy support base at the 145 level, providing a solid foundation for potential upward movement.
The weekly timeframe reveals a bullish engulfing candle, signaling a potential shift in sentiment and setting the stage for a positive trend reversal.
A bullish marubozu candle on the daily chart further strengthens the bullish case, indicating strong buying interest and potential momentum in the short term.
The stock is bouncing back from the golden Fibonacci zone, adding a technical aspect to the trade setup and reinforcing the probability of a favorable price movement.
The uptick in trading volumes is a positive indicator, suggesting growing market interest and participation in Rain Industries.
Despite highs shifting down, the absence of new lows is a noteworthy observation, hinting at a potential reversal and the resilience of the stock in the face of downward pressure.
Target - 184 // 206 // 253
StopLoss - weekly close below 145
SENSEX presents a strong upward chart trend right nowThe current chart analysis for SENSEX presents a robust picture. There are no signs of a significant drop-off at this moment. However, in the event of a downturn, the next support zones are projected to be at 75074 and 74249. And major support zone is 72199. These figures could serve as critical benchmarks in case of a market correction. It's always important to monitor market trends and adjust investment strategies accordingly. Please note that this is a general analysis and individual investment decisions should be made based on personal financial situations and risk tolerance.
City Union Bank available for purchase.I decided to invest in City Union Bank as it appears to be within a good buying range.
Disclosure : I am not SEBI registered. The information provided here is for education purposes
only. I will not be responsible for any of your profit/loss with this suggestions. Consult your financial advisor before taking any decisions
🚀 CROMPTON’s breakout is turning heads! Will it fly high?CROMPTON has been on the radar of many traders after breaking out of a consolidation phase that lasted approximately 15 months. This breakout was characterized by a strong bullish candle, indicating a significant volume-supported price movement. Here's a simplified analysis of why CROMPTON might just be the stock to watch:
After a prolonged downtrend, CROMPTON entered a phase of consolidation, with a clear resistance level that had been tested and held multiple times.
The recent sessions saw a breakthrough of this resistance with a wide bullish candle, suggesting a robust breakout.
Currently, the price is retracing towards what was resistance, now turned support—a classic example of polarity in action.
Volume Analysis: The retracement is occurring on diminishing volumes, hinting that the selling pressure is weak, and the sellers are possibly less committed.
Demand Zone Dynamics: There's a Rally Base Rally Demand Zone in play, and the price is now within this zone, indicating a strong setup for a potential upward move.
The technical landscape suggests that CROMPTON is setting up for a Breakout Retracement Trade at the Demand Zone.
Trade Strategy:
Set a Stop Loss (SL) just below the Demand Zone to mitigate risk.
The first target for taking profits could be the high of the breakout candle.
To potentially benefit from a rally, consider trailing the SL to protect gains.
Conclusion: The technical indicators for CROMPTON are aligning for what could be an exciting trading opportunity. With the price action and volume analysis pointing towards a bullish continuation.
Lastly, thank you for your support, your likes & comments. Feel free to ask if you have questions.
🌟 Trading is a journey, and every trade is a new chapter in your story. 🌟
Please note that this analysis is for educational purposes only and is not intended as a trading or investment recommendation. I am not a SEBI registered Analyst.
DMARTDMART :- The stock has given a breakout after 2 years. Keep an eye on the stock.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
BIRLACORPN - Looks Good!Script : BIRLACORPN
Time Frame : Daily Chart
Type Of Pattern Identified : Symmetrical Continuation Triangle pattern
A Symmetrical Continuation Triangle pattern , is typically seen as a bullish continuation pattern. This pattern usually indicates a temporary consolidation before the price continues in the direction of the prior uptrend.
Traders often look for a breakout to confirm this pattern, usually with increased volume supporting the breakout.
This breakout suggests a potential continuation of the uptrend.
Remember to consider other factors and confirm with additional analysis before making any trading decisions.
PLEASE NOTE THAT:
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
NIFTY50 Ready to Big Dump toward 20250 Levels ?NIFTY50 Technical Chart Analysis
NIFTY50 is currently in a high greed zone, attracting investors eager to join the bull rally. Let’s examine the key scenarios expected to play out over the next few days:
Chart Analysis:
NIFTY50 is forming a bull flag within a rising channel. Historically, this pattern tends to lead to a downside breakout, which makes any upside breakout highly risky.
My outlook is bearish. The last breakout resulted in a 22% gain, but if NIFTY50 breaks down below 22,110, we could see a significant fall. Breaking this level may result in a freefall to 21,000.
Support Levels:
Strong Support: The $21,000 level is critical. However, in the case of any negative news globally or in the Indian market, prices could potentially reach 20,700 and even 20,200.
Fib Retracement Supports:
0.5 Fib Support: 20,717
0.618 Support: 20,252
Keep an eye on these Fib support levels. If the market reaches them, we may witness a strong bounce, which would provide good entry opportunities.
Resistance:
Watch the rising wedge channel resistance and support closely, as they are crucial indicators.
Kotak: Short term reversal (6 May onwards)On this Daily Chart, we can see that Kotak has made a recent swing low of 1546 on Friday after losing support from its 1650 level. The results were out yesterday and Kotak has announced 26% increase in profits beating the market estimates. This should potentially cause a reversal in price going forward. In the short term, price is likely to touch the 200D SMA (purple line) which also coincides with a trend line (in blue) creating an upside of about 15% from current levels.
Indicators:
1. The EPS chart shows solid growth while the P/E is almost at a decadal low of 16.9
2. The RSI has bottomed out both in the Daily and Weekly
3. The price hit the lower threshold band of Fibonacci Bollinger Band (solid green line) indicating a possible bottoming out of price
4. The price is currently below both the 50D and 200D SMA, indicating short term bearish territory
Risks: The current downtrend can also continue in the next week and the next visible support is at 1450 implying a downside of 6%
Strategy: Given the growth drivers and a ridiculous valuation of the bank, the price is sure to make a reversal in coming days. Watch for the price action on Monday, and based on lower time frame price action, take entry. If the price comes down, towards 1450 levels, it should be used as an opportunity to build more positions instead of thinking about Stop loss and exiting.
Happy Trading!
Kotak Bank LongBegin bottom fishing on Kotak Bank by initiating with a small quantity and gradually pyramiding as you progress.
Disclosure : I am not SEBI registered. The information provided here is for education purposes
only. I will not be responsible for any of your profit/loss with this suggestions. Consult your financial advisor before taking any decisions
Prime Focus - Bullish Swing Reversal with VolumesNSE: PFOCUS 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 20% to 30% 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
GABRIEL - Bullish Swing Reversal with VolumesNSE: GABRIEL 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 12% to 19% 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
Bharat Dynamics Limited (BDL): A High-Flying Opportunity! Today, we're going to take a deep dive into the technical analysis of Bharat Dynamics Limited ( NSE:BDL ), a government-owned company in India.
📈 Breaking the Rectangle Pattern 📈
On April 24, 2024, BDL broke out of a Rectangle pattern that was formed after making an all-time high. This rectangle can be interpreted as a Re-accumulation in stage 2.
🎯 New All-Time High and Retest 🎯
In last week, the stock broke its all-time high and formed a new all-time high. The breakout was accompanied by very high volumes. In the last 3 days, the stock has been coming down to retest the Breakout with low volume. This shows that the downward movement is without selling interest, which is a good sign.
💡 Trading Strategy 💡
We can plan an entry at 1955 to trade the breakout retest entry or you can say entry at the demand zone of the lower timeframe which is available on the 15-minute chart.
Keep a stop loss below 1897 which is around 3% down from the entry point.
The first target should be a 6% gain.
For riding the rally, trail your stop loss.
Thank you for your support, your likes, and comments. Feel free to ask if you have any questions. Remember, the journey of a thousand miles begins with a single step. So, let's step into the world of trading with confidence and determination! 🚀
Please note that this analysis is for educational purposes only. I am not a SEBI registered analyst. This is not intended as a trading or investment recommendation. Happy trading! 🎉
Unleashing Potential: VSTTILLERS's Exciting U.S. ExpansionThe recent strategic move by NSE:VSTTILLERS , an Indian firm known for its robust agricultural machinery, company is now the largest manufacturer of Power Tillers in India. NSE:VSTTILLERS has created waves in the financial markets. This analysis delves into the technical aspects of the company's stock performance following the announcement of their new subsidiary in the United States.
🔍 A New Frontier for VST Tillers
NSE:VSTTILLERS has announced the incorporation of a new subsidiary in the United States. This new company, named VST FIELDTRAC LLC, is a Limited Liability Company (LLC) and was incorporated on April 25, 20241.
The new subsidiary will be involved in the manufacturing and trading of tractors and other farm machinery. This move is generally seen as a positive development for VST Tillers Tractors Ltd. Incorporating a subsidiary in a foreign country can provide a company with new opportunities for growth and expansion.
The market responded positively, with the company's stock price surging by 5.74% immediately following the announcement. This uptick is a clear indicator of investor confidence in the company's growth trajectory.
Technical Breakout Insights : The stock exhibited a breakout from a consolidation phase, signaling strong buying interest and potential for further upward movement.
📈 Stock's Technical Journey
Post-announcement, VST Tillers Tractors Ltd. displayed a remarkable chart pattern that deserves a closer look:
Prior to this breakout, the stock was in a tight consolidation phase after a downtrend, which can be interpreted as stage 2 or an accumulation phase.
Interestingly, before the breakout, the stock was halted in a very tight range of 5% for around 1 month. This period of consolidation is a positive sign as it often precedes significant price movements. This halting occurred in a phase of stage 2, and the subsequent news led to a breakout of the stock.
A notable aspect was the stock's ability to break through a critical resistance zone, previously a strong barrier on multiple occasions. This breakthrough reflects a robust bullish sentiment among investors.
Entry Strategies for Traders : Aggressive traders might consider entering the stock if it surpasses the recent high of 3558, capturing the momentum. Conversely, conservative traders should eye the demand zone around 3480 for potential buy opportunities, especially if a retest of the breakout level occurs.
🌱 Final Thoughts & Cautionary Notes
While the expansion into the U.S. market and subsequent stock response are promising, investors are advised to conduct comprehensive research and align their trading actions with their risk tolerance and investment goals. It's crucial to remember that stock market investments carry risks, and past performance is not a reliable indicator of future results.
Lastly, thank you for your support, your likes & comments. Feel free to ask if you have questions. 💡 Trading is not just about strategies but about seizing opportunities. 🚀
Please note: This analysis is for educational purposes only and is not intended as a trading or investment recommendation. I am not a SEBI registered Analyst.