An ascending channel is used in technical analysis to show an uptrend in a security’s price. It is formed from two positive sloping trend lines drawn above and below a price series depicting resistance and support levels, respectively. Channels are used commonly in technical analysis to confirm trends and identify breakouts and reversals. Script = Tata Steel Time...
IXIC index CMP 13550 Today index registered high around 13594 levels. Ascending parallel channel resistance around 13580-13630 levels. Bearish divergence on RSI, with respect to price. Index if not able to sustain at higher levels, can give sharp reversal. 1000-1300 lower side possible as per channel structure. Bulls time to be cautious
HONAUT may give breakout soon. Expecting 10%-20% move in short term. Good for swing trading
PRESTIGE made a channel pattern breakout and it looks good for short term with SL @ 523, TGT1 : 600, TGT2 : 640 Note : It's your hard earned money always trade with SL, I'm just sharing my analysis
A defence sector play, GRSE looks poised for an upward momentum after 26 weeks of consolidation. Sustained momentum above its breakout level of 564 will be positive. Good support zones around 510, 450 and 400 levels. However, as always, keep a stop loss of 5-8% if the trade goes wrong.
Suzlon is at the cusp of a 5 year high. On a monthly chart, a long term outlook is advisable, with an initial upward targets of 15 and 17.45 and further if strength and momentum is sustained. However, would be careful if price falls below 9.30. Has the potential to be a big winner. However risk management is key with a strict stop loss. PS: Not a buy/sell...
GNFC FUT break out of descending channel on an hourly chart with good OI buildup. Also reversal candle seen on daily charts(not confirmed yet). Could be bought on the basis of channel breakout with mentioned stoploss & target.
Pattern : Channel Range : Medium Buy Above : 18580 Stop Loss : 18540 Targets : 18620, 18660 Sell below : 18500 Stop Loss : 18540 Targets : 18460, 18420 Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
KBE the ETF for the banking sector has had increasing trading volumes since early March. It was in a downtrend with the banking crisis apparently precipitated by the decreased value of fixed yield bonds and treasuries as interest rates were raised. Things have since stabilized with a pause in the rate increases in May. As seen on the 4H chart, KBE in early...
I am expecting this stock travel in the parallel channel. Just sharing my expectation
DHAMPURSUG | Channel breakout - Potential for 35-40% CMP : 278 (Dip : 270) SL : 250 Target : 370 1:3+ risk reward setup
I analyze the chart of Honeywell Automation - price, volume, trendlines, other technical data points across daily and weekly timeframe.
Nifty at crucial level at the time and the formation is double top at all time high if nifty breakouts the high then we will see new bulls trend either breakdown the double top neckline the we will see a 15-20% retraces Wait and see
Since 2009 MSCI All country World index is in parallel channel. 77-72 is imp range to have bounce
Pattern : Channel Range : Small Buy Above : 18660 Stop Loss : 18620 Targets : 18690, 18720 Sell below : 18580 Stop Loss : 18610 Targets : 18550, 18520 Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
NSE:BHARTIARTL Looks good for short and long Markets are in down trend recently. Huge resistance around 800-803. If it breaks we can go for 830 if reversal happens then 780 target. Under rador
It has broken parallel channel after 1.6 yr on weekly chart. let's see if we are going to have bear trap or the bearish fall. We yet don't have the follow through selling
SKFIndia has been falling in parallel channel after making top closing above 4250 is a breakout from channel. look for smooth 200-500 point move