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Parallel Channel

T T LTDTT Limited is a part of TT Group. Company is a vertically integrated textile producer, and garment manufacturer and a three star Export House. It is engaged in yarn trading, knitting, and cutting and sewing of textile products. Huge CAPEX on track Company has inked an MoU with the U.P. Government at the Investment Summit for a large-scale textile unit within the proposed Garment Cluster under the PM Mitra Scheme in Hardoi District, Uttar Pradesh. Concurrently, plans are underway for a fabric manufacturing unit in Surat, aligned with the upcoming Textile Ministry PLI2 scheme. Company is also planning to expand its Tirupur unit aiming at doubling its capacity by 2025. Recent collaboration with Bihar Government Company has launched ‘Made in Bihar’ logo to strengthen the manufacturing and marketing network of ‘Made in Bihar’ Hosiery products. The ‘Made in Bihar’ Hosiery products are being manufactured in collaboration with hosiery manufacturing company TT Limited and units established by the beneficiaries of Mukhyamantri Udyami Yojana in Sikandarpur Industrial Area, Bihta. Debt reduction Company has been on debt reduction spree by reducing its debt from 277Cr in FY19 to 129Cr in FY24 showing a constant reduction. Technical Indication Technically also company is looking very strong by forming cup and handle patten and also on the verge of giving lifetime high breakout by breaking 2018 highs. Improving Fundamental TTL has ROE of 6.37% and ROCE of 7.90%. It has been consistently generating cash from operating activities and has been using it to repay debt. Promoters are majority stake holders in company holding 58.66% stake in this counter. Considering the strong developments in this counter this counter can give huge up-move in coming time
NSE:TTLLong
by CannySunny
Ascending Triangle in formation. Price Action: 1. **Ascending Channel**: The price is still moving within an upward sloping channel. Currently, the stock seems to be testing the lower trendline of the channel, which has served as support in the past. A break below this level could lead to a deeper correction, while a bounce off this support could trigger a rally toward the upper end of the channel. 2. **Downtrend Line**: There is a descending trendline acting as resistance for the recent price action. This line connects the peaks from July 2023 onward. If the price breaks this resistance, it may signal the continuation of the bullish trend. 3. **Volume**: The volume bars show a spike in recent sessions, indicating increased activity. This could be a sign that the stock is approaching a pivotal point. If the price breaks either above the descending trendline or below the channel, this volume could support the momentum in that direction. ### RSI: 1. **Current RSI**: The RSI is around 52.79, close to the neutral zone. This indicates that the stock is neither overbought nor oversold at the moment, but the RSI is still following a downtrend line, meaning the momentum is not strongly in favor of the bulls just yet. ### Potential Scenarios: 1. **Bullish Scenario**: If the price can break above the descending trendline, it might resume its uptrend within the channel. The target would be the upper boundary of the channel, around ₹220-₹240. The volume increase supports this possibility, but the RSI trendline needs to be broken for stronger confirmation. 2. **Bearish Scenario**: A break below the lower boundary of the ascending channel would invalidate the bullish trend. This could lead to a more significant downside move, with potential support around ₹150-₹160. The RSI divergence could further support this breakdown scenario. ### Conclusion: L&T Finance Ltd. is at a critical point, balancing between its support and resistance levels. The next few trading sessions will be key in determining the direction—whether the stock breaks out above the downtrend line and continues upward or breaks down below the channel and sees a correction. Posted for my own analysis as I learn to trade based on the technicals.
NSE:LTFLong
by brijmohan_h
Petronet exited channel. Pullback at 23.6% or 38.2% fib level.The Indian Oil Ministry plans to promote the conversion of one-third of existing long-haul trucks to LNG from diesel, as per a draft policy. Additionally, it aims to mandate that a third of new trucks operate on super-chilled gas This initiative may boost the LNG sector and promote a cleaner energy transition in transportation, potentially enhancing demand for infrastructure and technology related to LNG fuelling stations. The trucking sector could see a shift in investment opportunities towards LNG vehicles, impacting automotive and energy companies positively Petronet in a good spot for the same. Technically, price exited channel (profit booking happening after target 3 is achieved). Pullback will happen at 23.6% (326) or 38.2% (295) fib level. At worst case 50% fib level 271. Monthly & Quarterly chart looks good. Considering RSI touch points, reversal could happen now.
NSE:PETRONETLong
by naraykln
HindalcoChannel move is tricky to trade and I can see channel formation in multiple time frames, though the angle of channel it different. Buy above 665 with the stop loss of 660 for the targets 670, 675 and 680. Sell below 655 with the stop loss of 660 for the targets 650, 645 and 640. 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.
NSE:HINDALCO
by vanathi
Coal India showing a break down on the daily and weekly charts.Coal India has been trading in a parallel channel from Feb 2024 and the range has been broken and closing below it has been given on the daily and weekly basis. The stock is trading around a support zone of 480-485. It is trading around the 100 ema levels on the daily charts and closed below 20 ema on weekly charts. Entry in a bearish trade can be made once the market take a retest around the round number figure of 500 and forms a negative price action. Clear pattern break down is there in the stock. Positional/swing trades can be initiated once there is a retest and break down of the support zone. Entry :- Below 480 Targets :- 465 Stop Loss :- 490 (close on hourly charts) Wait for the price action near the levels before entering the trade.
NSE:COALINDIA
by TheMamboMomentum
Mishtann Foods - Falling Wedge Breakout - Ascending ChannelMishtann Foods has recently broken out of a Falling Wedge pattern on Daily Timeframe, as shown in the Chart. The stock has also been moving in an Ascending Channel on Weekly timeframe and has recently taken support at the bottom of the channel and bounced from there. Support at the bottom of the Channel has been tested 3 times, as shown in the image. Looking good to me. What are your thoughts? Disclaimer: This analysis is for educational purposes and should not be considered financial advice.
BSE:MISHTANNLong
by gurinder1988
1
LIC Housing FinancePrice was moving up and faced resistance at the zone 720, then having a pull back. Also price is moving in a ascending channel. Buy above 710 with the stop loss of 704 for the targets 716, 722 and 730. Sell below 698 with the stop loss of 704 for the targets 692, 686 and 680. 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.
NSE:LICHSGFIN
by vanathi
NVDA: Correction PhaseHello everyone,😉 I’ve put a scenario for the stock 'NVDA' together, which is currently drawing attention. This scenario is based on not only the "Elliott Wave Theory" but also various analytical tools, so please take it into high consideration. ✔️ Wave from $140.76 downward: "Extended Flat" This is an 'Extended Flat' composed of a 3-3-5 structure. The final C wave was completed as an 'Extended fifth wave impulse.' ✔️ Wave from $90.69 upward: "Zigzag" This is a 'Zigzag' with a 5-3-5 structure. The A wave and C wave have a 1.618 ratio, which adds a high level of credibility. ✔️ Conclusion: Projected Path Based on the wave count so far, I’ve drawn the projected path. I anticipate the appearance of a downward impulse wave and used the downward parallel channel and Fibonacci levels to estimate the potential decline range. First support zone: $100.03 Second support zone: $84.57 (very strong) Good luck! This is not a buy or sell recommendation. It is a personal perspective and should be used for reference only. All decisions and responsibilities are yours.
NASDAQ:NVDALong
by Killer_Whales
BITCOIN: Elliott Wave & ChannelGreetings, everyone.😉 I would like to present a scenario for your consideration, grounded in "Elliott Wave Theory" . ✔️ Wave initiated from the 15K level: Classified as a "Double Zigzag" ✔️ Current wave in development: Y-c-3 ✔️ Projected upward range: 93K ~ 101K The rationale behind this analysis is as follows: Zigzag patterns typically move within a parallel channel. The first zigzag wave, which started from the 15K level, adhered precisely to this parallel channel. As a result, the likelihood of a complex correction occurring is considerably high. Based on these observations, I have constructed this particular scenario. It is an illustrative representation of potential market behavior, grounded in established technical principles. Wishing you all the best of luck🍀 This is not a buy or sell recommendation. It is a personal perspective and should be used for reference only. All decisions and responsibilities lie with you.
Long
by Killer_Whales
SBINI can see two bullish patterns in chart. 1. Ascending channel 2. Rounding bottom Strong resistance is seen at the zone 824 - 826. Buy above 820 with the stop loss of 814 for the targets 826, 832 and 840. Sell below 810 with the stop loss of 815 for the targets 805, 800 and 795. 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.
NSE:SBIN
by vanathi
4
JIOFIN - Falling Channel Breakout- Daily JIOFIN - Falling Channel Breakout - Daily Name - JIOFIN Pattern - Falling Channel Timeframe - Daily Status - Breakout Volume - Good Cmp - 344.9 Target - 386 SL - 337.5 Pattern: Falling Channel Fundamentals: Here are some key financial ratios for Jio Financial Services Ltd. (JIOFIN): Price to Earnings (P/E) Ratio: 139.82 - very high Price to Book (P/B) Ratio: 1.61 Price to Sales (P/S) Ratio: 121.02 Enterprise Value to EBITDA (EV/EBITDA) Ratio: 134.42 Return on Equity (ROE): 1.15% Return on Assets (ROA): 1.11% Net Profit Margin: 77.83% Operating Profit Margin: 81.12% EBITDA Margin: 97.49% Debt to Equity Ratio: 0 (debt-free) Quick Ratio: 2513.46
NSE:JIOFINLong
by DailyCharts03
1
Bankex - Sep 2Price faced resistance at 58600 zone and fall down on friday. Pattern : Channel. Range : Medium. Trend strength : Normal. Buy Above : 58320. Stop Loss : 58220. Targets : 58420, 58500, 58580, 58660 and 58780. Sell below : 58120. Stop Loss : 58200. Targets : 58040 ,57960, 57840, 57720 and 57640. 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.
BSE:BANK
by vanathi
Attention Bitcoin Holders: This Could Be Your Last Chance!Dear Colleagues and Traders. 😉 In this post, I intend to share my analysis of the anticipated trajectory of Bitcoin, supported by both technical indicators and historical patterns. To begin, I anticipate that Bitcoin may experience a near-term rebound, which could be followed by a subsequent decline. Before we delve into the specific details of this analysis, I recommend reviewing my previous post, where I provided a comprehensive overview of Bitcoin’s long-term outlook. This context will allow for a deeper understanding of the current market conditions. ⬇️Previous Post (Long-Term Perspective) If you have reviewed that analysis, we can now proceed to examine the three critical pieces of evidence that substantiate the forecast presented today. ✔️BTCUSDT.P / BINANCE / 8H / Current / First Piece of Evidence This chart illustrates Bitcoin’s movements from June 7, 2024, to August 5, 2024, within a clearly defined descending channel. Bitcoin remains constrained within this channel, with no breakout having occurred thus far. The reliability of this channel is noteworthy. This reliability is particularly evident when we examine the midline, which has acted as both support and resistance on five occasions, thereby reinforcing the channel's structural integrity. ✔️BTCUSDT.P / BINANCE / 4H / Past Example 1 This chart, covering the period from April 14, 2023, to May 23, 2023, similarly displays a descending channel. During this time, the price consistently encountered support and resistance at the midline before ultimately breaking out to the upside. ✔️BTCUSDT.P / BINANCE / 4H / Past Example 2 Another example can be observed from January 11, 2024, to January 21, 2024. This channel, although formed over a shorter timeframe, also demonstrated a similar pattern, with the price finding support at the midline before eventually breaking out upward. ✔️BTCUSDT.P / BINANCE / 1H / Past Example 3 In this example, spanning from March 30, 2023, to April 5, 2023, we observe a comparable pattern. The midline provided robust support, and the price consistently failed to close below it, further solidifying the channel’s credibility. This setup also culminated in an upward breakout. ✔️BTCUSDT.P / BINANCE / 8H / Current Returning to the current chart, with the benefit of historical data, it becomes increasingly feasible to predict the future trajectory of Bitcoin's price. If the current descending channel maintains its integrity, a rebound, supported by the midline, appears likely. — ✔️BTCUSDT.P / BINANCE / 4H / Second Piece of Evidence The second key piece of evidence involves the RSI indicator on the 4-hour chart, where a "Hidden Bullish Divergence" is emerging. In this scenario, the price is forming a higher low on the right side of the chart compared to the left, while the RSI is creating a lower low. This formation, known as a "Hidden Bullish Divergence," often precedes an upward movement in price. Let us consider some historical examples. ✔️BTCUSDT.P / BINANCE / 4H / Past Example 1 In this chart, dated around March 30, 2024, we observe a higher low in price on the right, accompanied by a lower RSI, indicative of a "Hidden Bullish Divergence." This setup led to a price increase of approximately 13%. ✔️BTCUSDT.P / BINANCE / 4H / Past Example 2 Another instance, from October 2, 2023, presents a similar pattern: a higher low in price with a lower low in RSI, signaling a "Hidden Bullish Divergence." Following this formation, Bitcoin experienced a surge of approximately 114%, reaching a new all-time high. ✔️BTCUSDT.P / BINANCE / 4H / Past Example 3 This example from June 25, 2024, also shows a higher low in price coupled with a lower low in RSI, confirming a "Hidden Bullish Divergence." This setup resulted in a price increase of around 9%. Now, let us return to the current chart. ✔️BTCUSDT.P / BINANCE / 4H / Current With these past examples in mind, it is evident that a "Hidden Bullish Divergence" is also forming in the current chart. Should this pattern hold, we can reasonably expect an upward movement in Bitcoin’s price. — ✔️BTCUSDT.P / BINANCE / 4H / Third Piece of Evidence The final piece of evidence derives from Elliott Wave Theory, a concept that may appear complex but can be simplified. Following a low of $48,888, Bitcoin completed an upward wave, peaking at $65,737.2. We are currently in the corrective phase of this wave. This correction appears to be unfolding in the form of a "Flat" pattern, comprising three waves. The final wave in this "Flat" pattern should ideally manifest as an impulsive wave. At present, the chart suggests that an "Ending Diagonal" pattern is the most probable scenario, which could indicate a forthcoming rebound. It is imperative to note that if the price breaches the current low, the "Flat" pattern will be invalidated. However, until such a breach occurs, a strategy of buying on dips remains rational. — In summary, here is a recap of the evidence supporting today’s analysis: ⬇️ First Piece of Evidence: Descending Channel The price is currently finding support at the midline of the descending channel. Should this support hold, a significant rebound could ensue. ⬇️ Second Piece of Evidence: Hidden Bullish Divergence The price is forming a higher low, while the RSI is forming a lower low. Historically, such "Hidden Bullish Divergences" have often preceded upward price movements. ⬇️ Third Piece of Evidence: Elliott Wave Theory We are currently in the corrective phase of an upward wave, likely forming a "Flat" pattern, with an "Ending Diagonal" scenario suggesting a potential rebound. — In conclusion, based on today’s analysis, here is my trading strategy: I have set a stop-loss at the $55,969 level and plan to accumulate Bitcoin on dips from this point forward. The risk-reward ratio is highly favorable, and the stop-loss level is clearly defined, making this a prudent and strategic approach. This concludes today’s analysis. I appreciate your time and attention in reviewing this detailed post. Should you find it insightful, your support through a boost and a follow would be greatly appreciated. - ✔️ This analysis does not constitute a recommendation to buy or sell any financial instrument. ✔️ It reflects a personal perspective and is provided for informational purposes only. ✔️ Any investment decisions should be made at your own discretion, and you assume full responsibility for any actions taken based on this information.
Long
by Killer_Whales