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Parallel Channel

IRCON - Long Term ViewThe chart shows a technical analysis of IRCON International Ltd on a daily timeframe. Here's an analysis based on the visible elements: 1. **Price Action** - **Downtrend:** The stock has been in a sustained downtrend for a few months, as indicated by the descending price channel (blue shaded area). - **Breakout Attempt:** Recently, the price seems to be testing or slightly breaking above the upper boundary of the descending channel, suggesting a potential reversal or breakout. 2. **Support and Resistance** - **Key Resistance Level:** ₹292.20 is marked as a significant resistance level. - **Key Support Level:** ₹175.29 is identified as a crucial support level. - These levels will likely act as turning points if the price moves toward them. 3. **RSI (Relative Strength Index)** - The RSI is at **53.77**, which is near the neutral zone (50). This indicates no strong overbought or oversold condition currently. - RSI above 50 could signal bullish momentum, especially if it continues rising. ### 4. **Volume** - The chart shows decent volume activity around the current price level. Volume confirmation will be critical for validating any breakout above the channel. ### 5. **Projection** - An upward trajectory is drawn (blue curve), potentially predicting recovery toward the ₹292.20 resistance zone and higher. --- ### **Trading Implications** - **Bullish View:** If the price sustains above the channel's upper boundary with increased volume, it could indicate the start of an uptrend. - **Bearish View:** Failure to break out or a drop below recent lows may lead to a retest of the ₹175.29 support level.
NSE:IRCONLong
by brijmohan_h
Polygon long-term analysis, Total potential profit +416% ROIPolygon is currently supported and trading within a channel pattern. The first target is the top of this channel, offering a potential profit of +79% ROI. A breakout above the channel could lead to a second target of $1.56 USD, with a potential profit of +179% ROI. If the market closes above this second target, a significant price movement in Polygon is expected. The third target of this analysis is $2.8900 USD, offering a total potential profit of +416% ROI. This is a long-term analysis, and it's essential to follow trend continuation techniques. This presents a significant opportunity, good luck!
MLong
by TradingTrillionairesOfficial
1
MY first choice IDFC FIRST BANK IDFC FIRST BANK have previous records and pattern and that repeat again Technical points 1 - down rising channel 2- Strong support on bottom 3 - hold the top of fab. point 4 previous bull run was came when is go down in channel pattern First channel performance Date 31-jan-2022 to 6-dec-2022 first reached on top of 50 and came down 28 in the channel when given reversal to 62 second channel performance 6-dec-2022 to 5-sep-2023 on the top of 62 he came down and reached 52 and than get reversal and make top of 100 third 6-sep-2023 to 27-november today now its reached at same price of 62 and create bottom now we looking for a fresh reversal and channel breakout First TRG - 86 Second TRG -98 & 102 Third TRG 120 and above 140 SL 48 only for the long term time duration minimum 1 year
NSE:IDFCFIRSTBLong
by Share-Mechanic
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.
NSE:DIXON
by TheMamboMomentum
1
National Aluminum looks strong. Add to your WLNationalaluminium- add to your Watch List. ✅Good pattern- Forming VCP, inverse H&S ✅Stock in an uptrend. ✅Resisted the overall market fall ✅Never fell below 50-200 DMAs while many stocks were trading well below that in this correction. ✅Volumes are picking up now. ✅3 White soldiers on DTF. This is a good positional long-term bet. Accumulate or pyramid in this. This is just my view. This is not a buy/sell recommendation. Please trade as per your risk appetite and discretion.
NSE:NATIONALUMLong
by sagartharayil