Nifty Nov Short Strangle StrategyCurrently Nifty is following a descending channel. If the channel holds till November expiry, then one can benefit from entering a Short Strangle with 23000 PE and 23850 CE for November expiry.
Parallel Channel
Icici About to break out of the Bullish Channel?Below 1250, 1170 could be tested In ICICI Bank.
Quick move around the Corner..
Parallel Channel support in Indigo Paints in WeeklyNSE:INDIGOPNTS Parallel channel support is at Indigo Paints with buy at 1510
RELIGARENSE:RELIGARE
💰 *BUY RELIGARE @ 249 - 250* 💰
🔐 *SL 238* 🔐
🎯 *Target 260 271 282 293+* 🎯
PARALLEL CHANNEL BREAKOUT:
A parallel channel breakout is a technical analysis pattern where an asset's price moves beyond the bounds of a parallel trendline. In simpler terms, imagine two parallel lines that contain the price movements—one acting as a ceiling (resistance) and the other as a floor (support). When the price breaks through these lines, it's a sign that the trend might continue in that direction.
Here's a quick overview:
Formation: The channel is formed by drawing parallel lines through the highs and lows of price movements.
Types: There are two types: ascending channels (bullish) and descending channels (bearish).
Breakout Signal: A breakout above the upper resistance line in an ascending channel or below the lower support line in a descending channel can indicate a strong trend continuation.
Trading Strategy: Traders often use this pattern to identify potential entry and exit points, as it can signal a significant shift in market sentiment.
Disclaimer :
I am not a SEBI registered analyst. The charts and levels are posted for educational purposes only and are not recommendations. Please consult your financial advisor before trading or investing. I am not responsible for any gains or losses you may incur.
Happy trading! 📊🚀
Ascending Parallel channel in JSW NSE:JINDALSAW An ascending parallel channel has been formed in weekly & daily channels out of which a current daily bullish candle confirms the reversal of the falling stocks
A confirmed buying can be when it crosses the parallel channel at 310 or risk-takers can accumulate at current levels.
Another bullish signal is the crossing of the EMA 200
Ascending Channel pattern in FMCG IndicesNSE:CNXFMCG A major correction has happened in FMCG sector after which a strong reversal can happen in the form of bullish engulfing or hammer candlestick in weekly timeframe
If it takes the support of 55,000 and forms a bullish candle, it will reverse from the current support.
If it breakdowns below the 55,000 mark, it can correct up to 50,500 & 45,000 respectively.
Coming weeks will be a deciding factor for the indices.
ICICI Bank. Short Swing Below 1200. Targeting 1060.ICICI Bank looks weak on Charts after having Given a Great Run.
Reasons to consider Shorting below 1200
Technicals :
1. Rejection from fresh Weekly Supply Zone established around 1280.
2. Double Top in formation, to complete upon breakdown of 1200
3. Bullish Channel Breakdown
4. Bigger Parallel Channel Resistance Hit at ATH
5. Rsi Bearish Divergence on Daily Timeframe.
6. Breakdown of 50 and 100 DEMA
Options Data : Put Writers around 1250 1200 will unwind, triggering sharp down move.
TP1 : 1170 ( 200DEMA, Minor Demand Zone territory, 1.0 of Trend based extension)
TP2 : 1100 ( Major Demand Zone Territory, Nearing Lower Band of Parallel Channel)
TP3 : 1060 ( Point of Max Pain, Bulls will try to defend this level at any cost, upon failure to defend the 1000 1060 zone, would result in testing of 800)
SL: Weekly Closing above 1260.
CDSL 3.0 & price trading inside a sideways parallel channel
Firstly wanna apologise to all as I wasn’t able to give update as I was given a strike or violation ticket stating that I cannot update day to day under “update ideas” tab but have to post a single idea but wanna ask you all how does a single day chart states the stock movement for upside or downside and if my updates are hurting you all pls accept my apologies.
Analysis:-
So let’s get back on to analysis part as on 29/10/2024 price at crucial level and at mid point of channel so once price breaks it we got a immediate support at 1436 so flat opens goes down 1447.50/1447 below 1436.70=1st tgt then 1425.50 next tgt level, if goes down further trail,
If price flat opens falls a little till 1436 takes support goes up then upon 1455.80 crossing and 15min candle closing above it we will see a upmove till 1463-1470/1471.20=1st tgt then 1480-1500 tgt level can be seen,
If gap up or gap down opens then wait for 30mins mark high & low then upon candle closing basis trade on side price goes.
Note: This analysis is for only 30/10/2024 and there’s a possibility of price not meeting our levels or going against our observation and analysis as market is supreme and this is just a observation which I tried to post to give you a idea about price movement at current level
HALIs it the first sign of top formation in HAL.
parallel channel upper edge is touched from the bottom. Monthly candle is also doji, follow through will be interesting to watch
Parallel Channel consolidation in TitagarhNSE:TITAGARH A parallel channel has been formed in Titagarh
A double confirmation buy can be triggered when the price crosses EMA 44 with trailing SL.
The rest of the explanation of the targets and SL has been marked in the chart.
Dixon Tech either buy or wait to buy??
Dixon is trading in a parallel channel for a while and now it is holding on to the higher levels.
The company is a EMS (Electronic Manufacturing Services) and provides them to the listed companies.
On the monthly charts, the stock has been travelling and given 150% returns in the current year.
Much of the movement is given this year and still the targets of 20k is being recommended by some rating services company.
As for now the stock is holding on to the higher levels and creating a Flag and pole pattern.
400 points range the stock is consolidating and the bullish flag break out can take the stock to the higher levels.
A low volume accumulation in happening in the stock and the target levels of around 17800 can be seen in the coming weeks.
Targets :- 16700, 17700
Wait for the price action around the break out level and enter as per the setup.
HDFC Bank Ltd - Base consolidation setup on a weekly timeframe Amidst the broader market volatility, HDFC Bank among the large cap has formed a flat base consolidation with price nearing breakout zone on a weekly timeframe.
Ideal to keep a close watch on this stock.
The stock price is trading above the 30 weekly moving average.
An up-move could be seen if it breaks out above 1800.
Stop loss at 5-8% is ideal.
Target: Initial target 20-25% for positional trade. Post that, trailing stop loss at higher level.
Note: Not a buy/sell recommendation. Please consult your advisor.
TITAN - Possible SwingTITAN is now in the support line with tweezer bottom candle formed at the support. Expec a potential 20% upside from current level.
Took Support on Accumulation Zone.NSE:VIJAYA broke out in the Resistance zone at 880 Which is now acting as a support Zone and now acting as an accumulation zone as it got accumulated and bounced back from that place only, making new ATH. Keep in Radar.
Check out my other stock ideas below until this trade gets activated, I would love your feedback.
Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
possible Bank Nifty spotPossible range & level for BN for coming days.
education & study purpose only!
Buying interest in Ethereum at key MA20 months moving average is coinciding with level where serious buying is witnessed in Ethereum.
Considering long-term monthly chart Log scale is used and targets and SL are marked on chart.
If buy triggers, it can take 8 to 15 months to achieve this target.
RVNL - Currently turning from the bottom support area.
1. **Ascending Channel**:
- The stock has been following a larger ascending channel, indicating an overall long-term uptrend.
- However, within this channel, a secondary descending channel appears in the recent period, suggesting a correction within the larger uptrend.
2. **Recent Price Action**:
- The price is attempting to break out of the smaller descending channel within the larger ascending channel.
- It is currently near the upper boundary of this descending channel. A breakout above this level, especially if it closes above, could signal a continuation of the larger uptrend.
3. **Volume Analysis**:
- There has been a recent increase in volume as the price rises, which could indicate buying interest and possibly a reversal of the recent downtrend.
4. **RSI**:
- The RSI is around 51.46, near the neutral 50 line, It is also trending slightly upward. If it continues to rise above 50, this would reinforce bullish momentum.
5. **Support and Resistance Levels**:
- **Immediate Resistance**: Around the upper boundary of the descending channel, and a successful breakout would make the next resistance at the upper boundary of the broader ascending channel.
- **Support**: The lower boundary of both channels is key, providing support if the price turns back down.
### Conclusion
This chart suggests that the stock is in a potential breakout phase from its recent downtrend, while remaining within a larger uptrend. A strong breakout from the smaller channel and sustained movement above 50 in the RSI would strengthen the bullish case. However, a rejection at this level may lead to further consolidation or a retest of lower support levels.
DJTDow jone tranportation average index is in parallel channel from 1971.
Since then it has tested lower elbow only 2 time. It look, lower elbow may be tested third time and expect sideway movement before making fresh up move.
Don't act without analyzing one price test the lower elbow.
Another scenario could be that it is just the retest of the Breakout happened earlier.
Channel Breakout & Doji candle reversal in Deepak NitriteNSE:DEEPAKNTR A clear channel breakout could be seen with a bigger bullish candle & EMA 44 crossing the bullish candle.
A doji reversal reconfirms the bullishness of the stock
The target is ATH.
Netweb Technologies - Nearing breakout zone on weekly chartOn weekly chart, Netweb Technologies is nearing its breakout zone.
A cup pattern followed by a base consolidation with higher lows makes it an ideal stock to keep in your watchlist.
Buy zone: 2925-3050
Stop loss: 5-8% basis one's risk management.
Initial target: 3500-3600
Note: Not a buy/sell recommendation. Please consult your financial advisor.
Channel breakout with strong bullish candle in JSW Steel(Hindi)NSE:JSWSTEEL A strong channel breakout with a big bullish candle has emerged in JSW Steel with strong volume support. 44 EMA is also about to cross the bullish candle reaffirming the bullish signal.
A SL of 945-947 with a target of ATH and above is recommended.
The rest of the video is explained in Hindi
Suzlon.. currently in Falling Wedge. Looking at this chart of Suzlon Energy Ltd. on NSE, here are some key observations:
1. **Falling Wedge Pattern**:
- The recent price action shows a falling wedge, a pattern characterized by converging trendlines sloping downwards. This often suggests a potential bullish reversal if the price breaks out above the upper trendline.
2. **Uptrend Channel**:
- The price is still within a broader upward trend channel, indicating the overall bullish trend is intact despite the recent correction. The current price is approaching the lower boundary of this channel, which could act as a support zone.
3. **Volume Analysis**:
- Volume seems to have decreased during the recent downtrend. A breakout from the falling wedge with increasing volume could further confirm bullish momentum.
4. **Relative Strength Index (RSI)**:
- The RSI is showing a bullish divergence; while the price is making lower lows, the RSI is making higher lows. This divergence is often a precursor to a potential price reversal.
5. **Support Levels**:
- The price is near the lower trendline of both the falling wedge and the broader upward channel, around the INR 62–65 range, which could serve as a strong support zone.
6. **Potential Trade Setup**:
- A breakout above the wedge with strong volume could provide a good entry point for a bullish trade. Alternatively, if it fails to break out, monitoring the lower boundary of the channel as support would be essential.
In summary, the chart shows signs of a potential reversal if it breaks out of the falling wedge. Watching for a breakout with volume confirmation and monitoring the RSI divergence will be crucial for validating the bullish case.
