Parallel Channel
UNION BANK MOVING IN A PARALLEL CHANNELUNION BANK is making a Rounding Cup formation in the Weekly and Monthly charts with a high of 253.
Its been moving in an ascending Parallel Channel from January 18. There is also a Horizontal Support zone between 137-140 and also the bottom trend line of the Channel is providing a support.
I do expect a reversal from here. Added some quantity yesterday and will look for a Short Term Target of 165 and a Long Term Target of 250.
NIFTY- A strong move is about to come?An index analysis idea after many many months.
Reason:- Today, we saw a short covering 400 points up move in Nifty with an ATH closing.
What is the chart speaking now?
Nifty has given daily closing above 22800 which was a strong supply zone.
23000 is a psychological resistance in Nifty now.
As from chart, it is clear that our dear Nifty is trading in a channel and 23100-23150 is the next supply zone. If we see a consolidation near 23000, we might see this resistance getting broken and strong bull run till 25000 should be expected.
However, there are high chances of bull trap getting formed in this zone , especially 4th June being an eventful day which is just 2 weeks away from now. I am expecting a highly volatile market till June end.
Channel Break in Abbot India Hello Trading community, mates and friends sharing today a bullish breakout on Daily time frame for Abbot India a Great Pharma company.
This 10% upside target identified from the previous resistance to previous high and it feels like a good swing trade.
RSI is also in a bullish range with good volume trades on green candles.
I hope you will like and work and give your valuable support to my publication too, Any other questions are most welcome in comment box. Thanks for reading mates.
This idea is meant for only educational purposes, not any kind of trading or investment advice.
Bank NiftyPrice is moving in channel. And also it is at important zone 49000. Channel move is tricky to trade and also market will be volatile as the election result is coming soon. Trade carefully.
Pattern : Channel.
Range : Medium.
Trend strength : Normal.
Buy Above : 49020.
Stop Loss : 48940.
Targets : 49100, 49180, 49260, 49380 and 49440.
Sell below : 48820.
Stop Loss : 48900.
Targets : 48740 ,48660, 48580 and 48520.
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Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.
ATGL Pole n Flag Breakout ATGL Breakout
ATGL forming Pole and flag pattern on daily chart
- Breaking parallel channel on daily timeframe
- forming Cup and handle on weekly timeframe
Disclaimer:-
Investments in securities are subject to market risk.
Everything I discuss here is for educational purpose.
I am sharing my personal view as a trader / investor.
Please consult your financial advisor before taking any decision.
SbinPrice is moving inside a channel. It is giving zig zag movement. Price have to break the channel to give a trending move.
Buy above 825 with the stop loss of 820 for the targets 830, 835 and 840.
Sell below 815 with the stop loss of 820 for the targets 810, 805 and 800.
Check the live market updates.
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Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.
Bullish FinniftyAs the whole market has dropped a few percentage in the last few days, major indices are taking support at their trendlines and channels. Finnifty too has bounced from its trendline suggesting possible bullish momentum in comings days. The index has also formed a Bullish Hammer on Daily time frame. Major support of finnifty is at ₹21,100 and resistance can be around ₹21,800 zone.
Jindal SteelPrice is moving in a zig zag pattern and is forming a channel. Important zone is 1058 - 1064.
Buy above 1072 with the stop loss of 1066 for the targets 1078, 1084, 1090 and 1098.
Sell below 1058 with the stop loss of 1064 for the targets 1052, 1046, 1038 and 1030.
Check the live market updates.
Hit the like button to Rock !! Show some energy !!
Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.
PNB MOVING IN A PARALLEL CHANNEL - TIME TO ADD?PNB after breaking out of a Monthly resistance Trendline has been moving in a Parallel Channel from 30 January 24. It gave a false breakout and reversed from there.
The next support would be the monthly trend line or the Bottom Trendline.
Iam already invested and would be adding some more quantity @ around 120-122.
Book Profits - Candidate for ShortsDisclaimer: This Analysis is not to be taken for trading or investment decisions.
Stock has rallied for last year without any break, it has touched previous life time high levels of year 2019.
It has touched the upper band of Regression trend when plotted from beginning
MTARTech-A beautiful channel consolidation!MTARTech is one of the leading stock from defence sector. However, stock is underperforming and is currently in a channel consolidation.
Recent news of arms exports to Russia has triggered a rally in defence stocks like Datapatterns, BEL, BDL, etc.
Mtar is bouncing from lower end of channel and we can expect big rally in this stock too. A good stock for investment purposes as well.
Disclaimer:This is not a recommendation and this is my personal analysis and opinion about stock.