Manorama in expanding Downward channelManorama on a daily timeframe is trading in a downward channel and facing resistance at the upper level. The upward movement will only come if it gives the breakout of resistance.
Parallel Channel
Breakout of parallel channelDaily and weekly good volume build up.
Breakout of parallel channel with good volumes.
Wait for retest on trendline for conformation.
NOTE: I do my analysis, do your before trade.
Rally is about to end in MCX GOLD ?MCX Gold has rallied one way from 62000 to 67000 in last 5 weeks without any major retracements.
Gold is currently respecting a rising channel pattern & currently trading at higher end of this channel pattern. I'm expecting gold to correct and touch bottom of this rising channel.
I tried to short gold last week but it went sideways so I had to close. Closed that position in 700-750 rupees in profit.
I am seeing a trading opportunity in gold.
Here's a trading opportunity.
GOLD CMP - 66780
I'm taking short positions in Gold June Future at CMP 67160.
Holding Future short position with Stoploss 67600.
I'm also planning to short MAY 65000 CE positionally which is now trading at 2500-2600.
I'm expecting a correction in Gold very soon.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
High break out with retestDaily time frame-breakout candle volume is good as compare to previous candles.
Retest also done on trend line with good enough volumes.
Weekly time frame chart also looks good.
NOTE: I do my analysis, do yours before trade.
Tata Chemicals Resistance near 1300 LevelTata Chemicals Limited (nse: tatachem) stock may face the next resistance barrier around the critical 1300 level. Closely monitor this zone. The stock's price action near 1300 remains a focal point, influencing strategic trading decisions.
CONFIPETparallel channel since early 2015
one shakeout still pending.
this may be too slow even after the breakout
FinniftyPrice is moving inside a channel, which makes it tough to under the trend direction. Important support is 20480 - 20520. Important resistance is 20720 - 20760.
Buy above 20680 with the stop loss of 20640 for the targets 20720, 20760, 20800 and 20860.
Sell below 20480 with the stop loss of 20530 for the targets 20440, 20400, 20350 and 20300.
If price breaks the above mentioned resistance with volume, then we can expect good movement.
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.
ADVENZYMESprice is traded in Channel and traded at lower end of channel so it s possible chance that price will move upper side
Stop loss will below last swing low which is marked in red area
This idea is for Educational purpose and paper trading only. Please consult your financial advisor before investing or making any position. Facts or Data given above may be slightly incorrect. We are not SEBI registered.
Zydus IdeaStock has been moving in a channel for quiet a few days and took resistance at Fib Level, If broken, can see ATH and 1027 and above.
PFIZERparallel channel started from Mar'99 and making top in Sept 21
now head and shoulder formation is complete
now a dead cat bounce and followed by bears
Nifty Midcap Select Index Rising Channel BreakdownThe Nifty Midcap Select Index (NIFTY_MID_SELECT) is showing a rising channel breakdown, indicating potential bearish movement.
Breaching lower trendline - traders may consider this as a caution period until the next bullish confirmation forms.
Ascending Channel in NiftyNifty is looking bullish with high weekly volumes and green candles, and may continue following the trend line.
TATA CONSUMER CHANNEL BREAKOUTTataconsumer breaking a channel
with huge volume
#target 1350
EDUCATIONAL IDEA
BHARTIAIRTEL PARALLEL CHANNEL BREAKOUTBhartiairtel breaking parallel channel
with good volume building up
#target can be 1240
EDUCATIONAL IDEA
KOTAK BANK FORMING PERFECT PARALLEL CHANNELThe stock has been following a proper parallel channel and has taken support at 1717 various times and it generally rebounds from this levels , easy 20 % gains can be achieved from buying it now , it can rally till 1989 which is another crucial resistance
Axis bankPrice was moving in a channel pattern and today it has given break out. Trend deciding zone is 1080 - 1085. Price has to sustain above it to move up further.
Buy above 1085 with the stop loss of 1076 for the targets 1094, 1102, 1112 and 1122.
Bearish below 1076 and price may test 1060 level.
If price is unable to sustain the mentioned level, then once again price will go inside the channel pattern and the movement will become choppy.
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.
#Relinfra cash : Trading at lower end of the channel#Relinfra cash -Positional call
01.March 2024
Stock is trading at lower end of channel
at 220-223
Continuesly making high lows &
Trading in channel ....
Strong support at
188-190 for long term investors
Cmp 220-223
HUL: At lower end of the channel
- We are looking at Channel trade potential
- Stock has been trading in a sideways channel since July 2022
- currently trading above 21 day EMA (2419) and below 63 day EMA ( 2469)
- momentum may come in once closing is above 2470 odd levels
Rest levels are mentioned in the chart itself
Take care
