CENTURYTEXCENTURYTEX:- Stock has formed head and shoulders pattern on daily time frame, wait for breakout till then keep an eye on the stock
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Nsestocks
ANGELONEANGELONE:- Wait for breakout, if breakout occurs and sustains then we can see upside movement
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PolyPlex Starting Wave 3 Impulse Polyplex has seen 66% retracement of rise from march 2020 bottom & after that we saw 1st 5 waves rise from 1100 to 1630 which has also done almost 66% retracement now todats move looks like reversal candle & it can touch 1900+ levels view invalidates below 1275.
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TATACOFFEETATACOFFEE:- stock has given breakout, if it sustains then we can see upside movement
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SKFINDIASKFINDIA:- The stock has broken its lower high lower low pattern and has also given a breakout of the trendline at 4372.50. If the price sustains then we may see upside movement. Keep an eye on the stock.
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NIITLTDNIITLTD:- The stock is about to give a breakout, as the stock is consolidating since last few days in a small range, if it breaks the range, upside movement can be seen.
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Dixon TechWave 3 is extending & RSI has started to make divergence & wih daily RSI around 90 we can expect pullback in Wave 4 but this stock looks a good stock for portfolio.
We am not a SEBI Registered Analyst WE are not responsible for any profit or loss pleases consult your RA before taking any Position.
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GRINDWELLGRINDWELL:- Stock has given breakout, plan something only if it sustains above 2148 level.
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Sanofi Sideways breakout Buy above 6240
Sanofi has recently taken support from a monthly demand zone and broken a weekly demand zone on the daily timeframe with huge volume.
The stock was in a downtrend from August 2021 until October 2022, which was phase 4 markdown.
Since October 2022, it has been trading sideways, which can be considered accumulation phase 1.
Today, the sideways breakout has happened, which can be phase 2, meaning mark up.
Plan to buy above today's high of 6240 with a buy entry planned for tomorrow if the high is broken. The stop loss should be around 6070, and the target should be below the weekly supply zone at around 6532, making the risk to reward ratio approximately 1:1.5.
After reaching the target, trail your stop loss and targets upside for more profits.
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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.
TATAPOWERTATAPOWER:- Stock has given breakout of parallel channel, if you want to plan something, you can plan from 212 to 217, till then keep your eyes on the stock.
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Ajay.
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WONDERLAWONDERLA:- If the stock sustains after giving a breakout of 490 level, then we can show upside movement.
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TRITURBINETRITURBINE:- Head and shoulder pattern is formed, and breakout is also found, if we want to plan something then we have to wait for retest because breakout candle is very big, till then keep your eye on the stock.
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As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
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Ajay.
keep learning and keep earning.