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Parallel Channel

Federal Bank... Keep on your watchlist.As it broke out of the 45 week consolidation zone, the stock price has formed another base from which it is gearing to break out. A weekly close above 153 can create positive momentum for a potential positional trade. The price has good support between 143-130. In case of downside, the stock can find support at 120, and further down at 110-105 levels. Note: Always trade with a strict stop loss. Not a buy/sell recommendation. Do always consult your advisor.
NSE:FEDERALBNKLong
by TheUnlearningOne
1
10th Nov ’23 - BankNifty PostMortem - Ascending channel drawnBankNifty Analysis The real reason why Nifty50 reversed course today - BANKNIFTY. Yesterday we discussed how it took out the swing high set on wednesday. You wont believe that we took out yesterday’s swing high today even after opening with deep cuts. In the opening minutes, we dropped to 43504 well below the first support of 43566. I really thought the support would yield, but it did not. By 10.10 we started climbing. BN took a rest at 13.00 after which there was a minor retracement. Then at 14.50 we got our 2nd leg of climb that went all the way up to 43908. It sure looked like Dhanteras/Diwali buying. On the 1hr TF, I have drawn an ascending channel with the first target to beat being 44063. I wish to go bullish above that, till then I will hold on to my non-directional bias. I will not be writing about Muhurat trading on Sunday, but will mention any anomaly in my Monday report.
NSE:BANKNIFTY
by viswaram
ARIHANT SUPERSTRUC : Short term (1-3 months)#Arihantsup #channelbreakout #channel ARIHANTSUP : >> Good strong Channel breakout, need followup >> Good Volumes & Strength in stock >> Low Risk High Reward Trade ( 60% upside possible) >> Swing traders can lock profits at 10% & keep trailing Please Like or comment if u r Liking the analysis & Learning from it. Keep showing ur Love Disclaimer : This is not a Trade Recommendations & Charts/ stocks Mentioned are for Learning/Educational Purpose. Do your Own Analysis before Taking positions.
NSE:ARIHANTSUPLong
by moneyfesttrading
HUL: Channel trade PotentialHUL Chart set up - we are looking at weekly chart of HUL - Stock is trading in a channel since July 2022 - currently at lower end of the channel View - Range bound movement Trading Strategy - Consider to accumulate at current levels and on dips for a target potential of 2730 odd levels - If weekly closing is below 2393 then pattern gets invalidated Understanding Risk :: Reward and Risk Management Reward potential for the set up approx 250 points from current levels Have provisions to accumulate further on dips in such a way that RIsk is of around 60 points giving us a Risk::Reward ratio of 1::4 plus Take care and safe trading...!!! If you find the analysis useful do Like and Follow
NSE:HINDUNILVRLong
by indiamarketoutlook
Finnifty - Oct 31Price gave good move today and now it is forming a channel pattern. Break out can be in any direction. Support zone - 19000 - 19020. Resistance zone - 19290 - 19320. If price sustains the resistance then it will move to 19360, 19400 and 19460. If the price is unable to move above resistance, then it will fall towards 19220, 19180, 19140 and 19060. Trade with care if the price did not show the trend direction. Based on the assumption that price will react at support/resistance. Always do your own research. This analysis is for educational purpose only.
NSE:FINNIFTY1!
by vanathi
BANKNIFTY 30 October, 2023Market shows signs of recovery, but it's too early to say if the uptrend will continue? The market showed surprising strength on October 27, 2023, rising despite negative cues from the US markets. The market opened with a gap up and moved obediently according to the ascending channel pattern that had formed on the previous day. This suggests that bulls were in control and that the market is still in an uptrend. However, is it too early to say if the uptrend will continue? A new ascending channel pattern has emerged, which is a further indication of the uptrend. However, the market will need to break out of this channel and sustain above the resistance level to confirm the uptrend. Let us see, if the market recovers fully or goes down further to fill the gap. Overall, the market outlook is positive for the short term. However, investors should be cautious and monitor the market closely for any signs of weakness.
NSE:BANKNIFTYLong
by UnknownUnicorn34628734
Bank nifty Bearish Flag FoundThe bearish flag pattern is a technical analysis pattern used in financial markets, particularly in stock, forex, and cryptocurrency trading. It is a continuation pattern that typically occurs within a downtrend and signals that the price is likely to continue moving lower. The bearish flag pattern is characterized by a sharp, significant price decline (the flagpole) followed by a period of consolidation or sideways movement (the flag) before the price resumes its downward trend. Here's everything you need to know about the bearish flag pattern: 1. **Formation**: The bearish flag pattern consists of two main components: - **Flagpole**: This is the initial steep price drop that precedes the flag pattern. It is a strong and rapid decline in price. - **Flag**: The flag is a rectangular-shaped pattern that forms after the flagpole. It is characterized by price consolidation or sideways movement. During this phase, trading volumes tend to decrease, indicating a pause in the selling pressure. 2. **Duration**: The flag portion of the pattern can last from a few days to a few weeks. The longer the consolidation, the more significant the potential breakout. 3. **Slope of the Flagpole**: The angle of the flagpole is usually sharp and steep. It represents the initial strong selling pressure. 4. **Volume**: While the flag is forming, trading volume tends to decrease. This is a crucial element in the pattern, as it shows a reduction in market interest and a potential energy buildup for the next move. 5. **Breakout**: The bearish flag pattern is confirmed when the price breaks below the lower trendline of the flag, indicating a resumption of the downtrend. This is a signal for traders to consider shorting the asset or taking other bearish positions. 6. **Price Target**: To estimate a price target for the pattern, you can measure the height of the flagpole and extrapolate it downward from the breakout point. This provides a potential target for the price decline. 7. **False Breakouts**: It's important to be cautious of false breakouts. Sometimes, the price may temporarily break above the upper trendline of the flag before reversing. To mitigate this risk, traders often wait for a clear, decisive breakout confirmation. 8. **Risk Management**: As with any trading pattern, it's crucial to have a risk management strategy in place. Use stop-loss orders to limit potential losses and consider the overall market context and other technical indicators for confirmation. 9. **Confirmation**: Many traders use additional technical indicators, such as moving averages or oscillators, to confirm the bearish flag pattern before taking a position. Remember that no trading pattern is foolproof, and trading always carries risk. It's essential to conduct thorough analysis and consider other factors like market news and economic events when making trading decisions. Additionally, practicing on a demo account or using paper trading can help you become more proficient in identifying and trading patterns like the bearish flag.
NSE:BANKNIFTY
by Anand_7
BANKNIFTY, October 26, 2023Pre-market analysis for Bank Nifty: Possible surprise breakdown on expiry Bank Nifty followed the descending trendline and support and resistance levels that were plotted yesterday, as expected. No surprise breakouts occurred. I have plotted fresh support and resistance lines based on historical patterns. Considering expiry tomorrow, Bank Nifty may start with a small gap up or gap down, followed by consolidation with sideways movement. However, given the current market sentiment and trend, a surprise breakdown is also possible. This is just an assumption, and you should always keep that in mind. Take positions only when there is a clear trend and movement, especially since it is expiry. If you like my pre-market analysis, please like and comment.
NSE:BANKNIFTYShort
by UnknownUnicorn34628734