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Bollinger Band as a Dynamic Support/Resistance LevelThis study delves into the significance of the Upper Bollinger Band (UBB) as a resistance level in financial markets, particularly focusing on instances where an asset fails to close above the UBB and the subsequent rallies when such breakouts occur. The Upper Bollinger Band, a technical analysis tool developed by John Bollinger, is a volatility-based band that encapsulates price movement. Traders often use it to identify potential reversal points or the initiation of a new trend. Analysis:- Resistance at UBB: The UBB frequently acted as a formidable resistance level. Prices approach the UBB but fail to close above it, it suggests a strong selling pressure or a temporary halt in the bullish momentum. Breakthroughs and Rallies: Instances where prices successfully close above the UBB are marked by a shift in market sentiment. This breakthrough often triggers increased buying activity, leading to substantial rallies. The phenomenon may indicate a breakout from a consolidation phase or the initiation of a new uptrend. Confirmation Signals: Traders may use additional technical indicators or chart patterns to confirm the significance of the UBB breakthrough. For example, i have drawn a resistance zone. Volatility Expansion: Breakouts above the UBB are often accompanied by an expansion in volatility. This increased volatility contributes to the momentum of the rally, attracting more market participants. in this chart the above phenomenon happened two times and was a successfull entry. While going through charts it has also failed you can see itc and hindustan uniliver where it has failed. So add more confirmations of breakout like volume indicator or momentum indicators like rsi.
NSE:SUNPHARMAEducation
by anuragsahu614
1
IRCON: Positive sustainable run upIntroduction: NSE:IRCON , a leading construction and infrastructure company, is currently trading on the National Stock Exchange (NSE) at INR 58.55 . This technical analysis examines the stock's recent price action and provides a trading recommendation based on key technical indicators. Technical Analysis: IRCON is trading near the crucial Fibonacci level of 0.618 , attempting to break upwards. A bullish crossover has been observed in its Exponential Moving Average (EMA) and Moving Average (MA) indicators , suggesting a potential uptrend in the short term. Additionally, the Parabolic Stop and Reverse (SAR) indicator is also favoring the bulls, which could signify a continuation of the positive price momentum. Trading Recommendation: Based on the above technical analysis, we recommend the following trade: Entry: Buy IRCON at or above INR 58.55 (current market price) Target 1: INR 61.30 Target 2: INR 64.20 Stop Loss: INR 55.50 Please monitor the stock for a breach of the Fibonacci level upwards before initiating a long position. The stop-loss order at INR 55.50 aims to protect capital against potential price declines. Disclaimers and Disclosures: This analysis is for informational purposes only and should not be construed as investment advice or a recommendation to buy or sell any security. The author is a not a technical analyst and not a registered financial advisor. The opinions expressed herein are solely those of the author and do not represent the opinions of the Premium wealth management firm. Past performance is not indicative of future results. Investing in securities carries risks, including the risk of loss of principal. Investors should conduct their own due diligence and consult with a professional financial advisor before making any investment decisions. Disclosure: The author may or may not have any positions in the securities mentioned in this analysis at the time of publication.
NSE:IRCONLong
by finogent
RSI DIVERGENCE - RADICO KHAITANNSE:RADICO - DAILY CHART ANALYSIS The price was heading down, making lower lows. Initially, the RSI indicator was following the price too. on daily chart its seen that the RSI starts making higher lows while the price is still heading down. That’s when divergence pattern appears. After a bullish divergence, the price will tend to change from a downtrend to an uptrend. 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.
NSE:RADICO
by hardeepssethi
Dual Bollinger Band Jackpot Strategy.This is a strategy for Swing Traders who just want to capture the swing and don't want to hold the stock for months. This strategy requires 3 indicators:- Bollinger band (20,2) and Bollinger band (20,1) Volume MACD Trade Setup for Long:- 1] The candle which closes above UB 2, we will call it BREAKOUT CANDLE. The BREAKOUT CANDLE should have following properties; a) The volume of this candle should be greater than previous TWO CANDLE's volume. b) MACD histogram and MACD line should be greater than zero. 2] There should be minimum TWO CANDLES just before the BREAKOUT CANDLE which closed between UB 2 and BASIS. Those TWO CANDLES should consists of atleast one RED CANDLE. And that RED CANDLE should not touch the BASIS. TIMEFRAME:- DAILY CHART. When all of the above requirements is fullfilled we can BUY above the high of BREAKOUT CANDLE. STOPLOSS is 1 point below the low of BREAKOUT CANDLE. TARGET is 2 times the STOPLOSS. DISCLAMER:- this is for educational purposes only. DON'T apply this startegy directly with real money. First do paper trade and see the results and analyse the profitability of this strategy.
NSE:JSWENERGYEducation
by anuragsahu614
2
Union Bank of India: Watch before you leap.📊 Technical Analysis Report: BSE:UNIONBANK 📅 Date: September 11, 2023 🕣 Time: 08:28 AM 📌 Introduction The following report provides a 📈 technical analysis for Union Bank of India as of September 11, 2023. The stock 🛑 closed at 88.10 on the last 🗓 trading day (Friday). 📊 Key Metrics: 🔒 Last Close Price: 88.10 50 -Day Moving Average: 📉 Under selling pressure 🔄 Asset Turnover Ratio: 📉 Low 📊 Return on Equity (ROE): 1️⃣3️⃣-1️⃣4️⃣% 💵 Price-Earnings (P/E) Ratio: 5️⃣-6️⃣ 📈 Technical Indicators: 📊 MACD (12,26,9): 🕒 Yet to show crossover, expected in a day or two 📈 Stochastics RSI: K: 3️⃣1️⃣.1️⃣2️⃣ D: 2️⃣9️⃣.4️⃣7️⃣ 📉 Percent R: -6️⃣3️⃣.4️⃣8️⃣ 📈 Fisher 9: Trigger: 0️⃣.6️⃣6️⃣ Fisher: 0️⃣.2️⃣5️⃣ 🎯 Entry, Target and Stop-Loss Levels 🔥 For Aggressive Traders 🎯 Entry Price: 9️⃣0️⃣.8️⃣5️⃣ (0.5 Fibonacci Levels) 🏁 Target Price 1: 9️⃣2️⃣.4️⃣0️⃣ 🏁 Target Price 2: 9️⃣4️⃣.3️⃣0️⃣ 🛑 Stop Loss: 8️⃣8️⃣.1️⃣0️⃣ 🐢 For Conservative Traders 🎯 Entry Price: 9️⃣2️⃣.2️⃣5️⃣ (0.618 Fibonacci Levels) 📝 Conclusion: While 📘 fundamental aspects like ROE and asset turnover are not too promising, the low P/E ratio indicates a potential 💰 cheap entry point . 🔥 Aggressive traders can consider an entry at 90.85 targeting 92.40 and 94.30, with a stop loss at 88.10. 🐢 Conservative traders can enter at 92.25. ⚠️ Disclaimer 📝 This report is for informational purposes only and should not be considered as 💰 financial advice. Investors are advised to perform their own due diligence 🕵️‍♀️ before making any investment decisions. 🏷️ Hashtags #️⃣UnionBankofIndia #️⃣TechnicalAnalysis #️⃣StockMarket #️⃣Trading #️⃣Finance
NSE:UNIONBANK
by finogent
3