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Parallel Channel

A channel can be used as an entry pattern for the continuation of an established trend, as part of a trend following strategy. A channel forms when price action is controlled by 2 parallel, sloping lines and has tested each of these lines at least twice. An ascending channel indicates a bullish trend, with the support line connecting consecutive higher lows and the resistance line connecting consecutive higher highs.

A descending channel indicates a bearish trend, with the support line connecting consecutive lower lows and the resistance line connecting consecutive lower highs. Generally speaking, the support line of an ascending channel is a buy zone and the resistance line of a descending channel is a sell zone, while the opposing lines are profit-taking zones. A common stop level lies on the other side of the buy or sell zone. Conservative traders may look for additional confirmation before entering a trade. TradingView has a smart drawing tool that allows users to visually identify channels on a chart.
praveen.bhatiya praveen.bhatiya HINDPETRO, 1D, Long ,
HINDPETRO: Action-Reaction /3LR Setup/Double Bottom
210 0 8
HINDPETRO, 1D Long
Action-Reaction /3LR Setup/Double Bottom

We can draw Beautiful Multiple Pivot Line capturing the price movement since last 6 months. It is showing that strength is returning as there was big gap bar which was not filled and again today it has made a 3LR reversal bar with gap. Double bottom Neckline at 330 can pose some resistance so defensive trader can wait for the breakout of that level byt aggressive ...

praveen.bhatiya praveen.bhatiya NIFTY, 60,
NIFTY: Nifty at interesting junction Hourly Chart
371 2 9
NIFTY, 60
Nifty at interesting junction Hourly Chart

I've observed that Nifty gave breakout of Head & Shoulder pattern suggesting the trend reversal, however another up sloping parallel channel is in force which can support and try to arrest the down more here. Interestingly it is at the same level of last swing low therefore confluence of these may work and give strength. We can see good tussle tomorrow and let's ...

anandnst anandnst RELIANCE, 240, Short ,
RELIANCE: RELIANCE CASH : WEAK BELOW 1007 & GOOD ABOVE 1024
99 0 4
RELIANCE, 240 Short
RELIANCE CASH : WEAK BELOW 1007 & GOOD ABOVE 1024

RELIANCE CASH (18 JUNE 18, 23:15 PM) STRONG RESISTANCE @ 1024 SUPPORT AT 1007-1008 SELL ONLY BELOW 1007 STOPLOSS 1015 TARGET 1000-1001 RISK FREE BELOW 1000 FOR LOWER LEVELS 995/988 (BUY ZONE ONLY ABOVE 1024 FOR 1030-1032/1040 SL 1016) CMP 1015.55

sanstocktrader sanstocktrader BANKINDIA, 1M, Short ,
BANKINDIA: Bank India : Moving  in Downward sloping channel
286 4 4
BANKINDIA, 1M Short
Bank India : Moving in Downward sloping channel

Bank India : On monthly chart moving in Downward sloping channel which faced resistance at 50 % fibo level .

praveen.bhatiya praveen.bhatiya RECLTD, 1D, Long ,
RECLTD: Double Bottom, Divergence, Parallel Channel
244 0 7
RECLTD, 1D Long
Double Bottom, Divergence, Parallel Channel

This down trending stock is showing some strength recently and refused to make further low, thus formed double bottom. It is showing RSI divergence. One can buy the stock as per details given below Entry 112 SL 107 Target 132 RR 4 Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.

praveen.bhatiya praveen.bhatiya BHEL, 1D, Long ,
BHEL: Trader Vic's 2B/RSI Divergence
369 2 9
BHEL, 1D Long
Trader Vic's 2B/RSI Divergence

The stock has formed 2B reversal pattern with RSI divergence. It has already formed 5 pivots which suggests a possibility of reversal. RSI is back from oversold zone. One can buy the stock for a target of 83.50 * lucrative 10% appreciation *. Recent low should protect the trade as SL. Disclaimer : All ideas and comments are my personnel view. Please take financial ...

anandnst anandnst IBULHSGFIN, 120, Long ,
IBULHSGFIN: #IBULHSGFIN CASH : MUST TRADE CALL ABOVE 1216
59 0 2
IBULHSGFIN, 120 Long
#IBULHSGFIN CASH : MUST TRADE CALL ABOVE 1216

#IBULHSGFIN CASH (10 JUNE 18, 8:45 PM) ( MUST TRADE CALL) BUY ONLY ABOVE 1216 STOPLOSS 1203 TGT 1224-1225/1234-1235 & ABOVE CMP 1204

k.vikasgupta k.vikasgupta MPHASIS, D, Long ,
MPHASIS: Channel formation in Mphasis
47 0 1
MPHASIS, D Long
Channel formation in Mphasis

Buy CMP. Target : 1220, SL : 1045.

premanandh premanandh BAJFINANCE, 1D,
BAJFINANCE: CHART PATTERN RECOGNITION
136 5 2
BAJFINANCE, 1D
CHART PATTERN RECOGNITION

HI ALL today came across a chart pattern on bajajfinance it is forming channel or box patterns on daily charts within a range of 2150 to 2160 levels can expect some break out on the upper or lower side if price crosses these levels

vanathi vanathi BIOCON, 15, Long ,
BIOCON: Biocon - Green!
341 3 8
BIOCON, 15 Long
Biocon - Green!

Buy above 658 with the stop loss of 652. Targets are 664, 670 and 676.

Einstein15 Einstein15 ESCORTS, D,
ESCORTS: Escorts Channel
278 1 9
ESCORTS, D
Escorts Channel

Escorts has been moving into a channel. Currently testing the edge.

premanandh premanandh HDFCBANK, 1D, Long ,
HDFCBANK: buy
36 0 0
HDFCBANK, 1D Long
buy

HDFC Currently in base of rising channel

chartgola chartgola VIPIND, 60, Long ,
VIPIND: VIPIND : Intraday trade setup for 19 June 2018 on one hr time fr
50 0 0
VIPIND, 60 Long
VIPIND : Intraday trade setup for 19 June 2018 on one hr time fr

VIP Ind is trading in upper channel on one hr time frame. which repating a cycle of high to low , and low high as shown in chart. Intra Day trade setup for 19 Jun 2018 view: bullish for intraday Time Frame : one hr candle stick chart trend : bullish pattern : upchannel indicator: MACD(5,13,9), Stock(5,3), RSI(14) Buy above one hr bullish candle from ...

anandnst anandnst TATAGLOBAL, 120, Long ,
TATAGLOBAL: #TATAGLOBAL CASH   : POSITIONAL GOOD ABOVE 272
60 0 2
TATAGLOBAL, 120 Long
#TATAGLOBAL CASH : POSITIONAL GOOD ABOVE 272

#TATAGLOBAL CASH (10 JUNE 2018) (MUST TRADE POSITIONAL CALL) LOOKS GOOD ABOVE 272 SL 265 TARGET 280/285 CMP 266.9

anandnst anandnst SUNTV, 240, Short ,
SUNTV: #SUNTV CASH : GOOD SELL ONLY BELOW 890
51 0 2
SUNTV, 240 Short
#SUNTV CASH : GOOD SELL ONLY BELOW 890

#SUNTV CASH (06 JUNE 22:20 PM) LOOKS GOOD WEAK BELOW 890 STOPLOSS 900 TARGET 880-882/865-867 CMP 901.5

Einstein15 Einstein15 BANDHANBNK, 240,
BANDHANBNK: Bandhan Bank Channel Breakout
284 0 12
BANDHANBNK, 240
Bandhan Bank Channel Breakout

Bandhan Bank has been moving in a channel after its IPO in April, broke the channel today. Finding resistance at the Median.

SafeTrader1976 SafeTrader1976 TATACHEM, D, Long ,
TATACHEM: Tata Chem - Channel & Cloud Analysis.
165 0 4
TATACHEM, D Long
Tata Chem - Channel & Cloud Analysis.

Positional View. Other Details Mentioned In Chart. Please Consult Your Financial Advisor Before Taking Any Decision. I am not SEBI Registered Financial Advisor.

abhinay abhinay BANKNIFTY, 1D,
BANKNIFTY: Nifty Bank
377 2 10
BANKNIFTY, 1D
Nifty Bank

Nifty Bank - Channel

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