ESCORTS just completed the Gartley pattern. Its kinda moving in a channel. Broke out and took support on the edge, might bounce back as a classic breakout pattern, If it crosses D again, it may test the X level, before invalidating the gartley. or it can fall down in the channel and complete the targets.
Long term weekly charts indicate nice channel. Very good risk reward ratio. Hold stocks for 3 months and get 10 % upside?
in weekly, price bounced from downtrend channel support, regular bullish divergence formed here. price should move towards channel resistance.
In lower time frame Nifty approaching 1.618 retracement. RSI also overbought so expecting a small correction. Incase of Preopen Above 10140 the entire setup will be invalid. Can initiate long at bottom
HDFC is moving in an up_channel since 6 months, now its back on the channel edge. Lets see what it does this time. Either Break out of the channel or make another leg up retesting the lifetime highs again.
Its been moving in mirror fashion. the Staircase pattern taken while the down leg, is being followed on the leg up. Also the parallel channels are being respected.
AMARAJABAT is moving in a down black channel for a few months. Currently moving in a smaller channel and on a neckline, for breakdown/reversal from the small channel
DLF is moving in a channel for a few months now. Moving into breakout/reversal zone
In daily, price is consolidating above the ascending channel support. Bounce back is expected here. sl - 246, tgt1 - 285, tgt2 - 295.
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Tata Steel CMP 649.8 On hourly charts we observe a neat channel trade Currently Channel Support comes around 642 Target comes around 672-674 There is also 20 min EMA support at 646 Ideally the stock should hold channel support, however, in case we see break of channel below 642 then stock can fall up to 618 / 600 levels Plan your trade...
Apollotyres is making a head and shoulder . now its Ranging on its right shoulder making a triangle. Currently in breakout reversal zone of the green parallel channels, either to invalidate the right shoulder by moving up or a leg down to complete the pattern
BAJAJ_AUTO is moving in a longg flag for a while. Rising Parallel channels.
Continuing its huge leg up, its testing the channel edge. Yet to make a Lower Low though.
Its Bouncing between the levels nicely. After the huge leg up , it may form a flag before retesting the Lifetime highs.
BAJFINANCE is moving in an up channel for a while. on the recent leg up, its flattening a bit, in a range.(and it can continue moving in a same small range even outside the channel, before it makes a move) right now on the edge of channel for a possible breakdown./ reversal
what level one should look for correction? It run like any thing.
In longer time frame it is in strong uptrend. In daily, it is at the support of ascending channel support. It is likely to move towards the channel resistance. sl - 248 tgt1 - 275, tgt2 - 290,