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Parallel Channel

Banknifty Bear Channel Move Decoded.NSE:BANKNIFTY Banknifty is moving in a bear channel which is just a correction in an uptrend. yesterday it formed an outside bar on a daily timeframe, and it formed a very wide channel as you can see on the chart. The price is expected to open a gap up and test the supply zone and fall again. A sneak into the past:- If you carefully observe the channels in the bull trend on the daily chart you will observe that the movement has some kind of pattern. let me explain:- Majority of the time the price opens near the high of the channel range and by the day's end it tests the support line of the channel. This occurs after a good fall and prices are not forming significant lower lows. Mass psychology is that they want a 2nd leg up. so they are justifying buying from each new low as the price is cheap but the market is in a consolidation mode and will not start trending until the supply from the upper channel got exhausted. I hope you found this helpful. Please like and comment. Keep Learning, Happy Trading!
NSE:BANKNIFTY
by SANJAYPATIDAR_
Nifty - near ATH, what's next?NSE:NIFTY reached near its All Time High 19000, peoples are talking about big fall but here the view seems different to me, As per my Elliott wave study and my counting on it which can differ with every EWT user above is my shared view, please look carefully & have a happy trading here are some points to take in consideration. 1] Price is still in channel. also there is reverse breakout from wedge. 2] Wave 4 correction was not clear until the breakout happened. 3] VIX is near 11. So, volatility would still be low with following its trend. 4] RSI - Daily, weekly, monthly is still bullish no sign of weakness. 5] Daily candle high near upper bollinger band. 6] Daily, Weekly supertrend in green indicating more bullishness 7] no weakness in banking stocks which has highest weightage in nifty.
NSE:NIFTYLong
by Ajay7871
Nifty Intraday Analysis and Live updates 25 JulStrategy :Channel Trades Outlook : Bearish to Sidways Nifty after the rally of last week, had a retracement upto 19650 levels. On 24th, bulls could not keep up the momentum but still not strong bearish enough Short : within the channels, and below 18650.Tgts: 19600 ,19560,19500 Long : 19700 . targets : 19780 Disclaimer : Ideas listed are My Trading analysis and Notes/journals. Not a RA These are NOT recommendations for Buy /Sell. Do your own analysis before jumping into any trade/Investment. Learn and then Earn.!
NSE:NIFTY
by iTechnIndica
Nifty Analysis 24 JulLast week rally had a correction of more than 250 points after the weekly expiry Wait for signals to know if the correction is Retracement or Trend reversal Follow the blue and Grey channels Sell : At the top channel lines / Break downside of channel Buy : At the bottom channel lines./Break upward channel If the down trend follows, Supports at 19680,19640 19550 and 19550 If the uptrend follows: Resistances at 19850 19900. Breach of 19900 can test 20k and 20.3 k in the near term Disclaimer : Ideas listed are My Trading analysis and Notes/journals. These are NOT recommendations for Buy /Sell. Do your own analysis before jumping into any trade/Investment. Learn and then Earn.!
NSE:NIFTY
by iTechnIndica
2
Bajaj Auto - Ascending Channel An ascending channel is the price action contained between upward sloping parallel lines. Higher highs and higher lows characterize this price pattern. Technical analysts construct an ascending channel by drawing a lower trend line that connects the swing lows, and an upper channel line that joins the swing highs. Ascending Channels: How to Trade This Technical Pattern Ascending channels are a common technical pattern that can be used to trade stocks, currencies, and other financial instruments. This pattern is characterized by two parallel lines, with the upper line representing resistance and the lower line representing support. Traders can use ascending channels in a number of ways. One popular strategy is to buy a stock when it reaches the lower trend line and sell when it nears the upper trend line. This strategy can be used to ride the uptrend in a stock's price. Another way to trade ascending channels is to look for breakouts. When a stock's price breaks above the upper trend line, this is a sign that the uptrend is accelerating. Traders can buy a stock at this point and ride the breakout to even higher prices. Conversely, when a stock's price breaks below the lower trend line, this is a sign that the uptrend is losing momentum. Traders can short a stock at this point and profit from the decline in price. There are a few things to keep in mind when trading ascending channels. First, it is important to use other technical indicators to confirm the pattern. For example, traders could look for an increase in volume or a breakout on higher time frame charts. Second, it is important to manage risk. When trading ascending channels, traders should use a stop-loss order to protect their profits. This order will sell a stock if the price falls below a certain level, preventing further losses. Finally, it is important to be patient when trading ascending channels. This pattern can take time to develop, so traders should not expect to get rich quick. Bajaj Auto Limited is an Indian multinational automotive manufacturing company based in Pune. It manufactures motorcycles, scooters and auto rickshaws. Bajaj Auto is a part of the Bajaj Group. It was founded by Jamnalal Bajaj in Rajasthan in the 1940s
NSE:BAJAJ_AUTO
by piyushbafna000