Small SL and Big ProfitBanka has the potential to turn tomorrow. The candles are big. If reversal is seen tomorrow, we can expect a big move in the same.
The chart is simple and self explanatory.
Parallel Channel
Sail can be brought above 88.2Sail has created a bottom. I am very bearish on nifty, expecting levels of 16500.
But stocks can go in other directions.
Sail is showing signs of reversal. If it crosses recent high then 6% target is possible.
I have drawn strong support and resistance lines.
Hope it helps.
I am not a SEBI registered trader. Only for educational purpose.
Gold mcx in HCB.Gold mcx presently Broken out the drawn downtrend channel in hcb. Might not sustain there and will go down again till 55150-55050, once it closes below 55750-55650 zone in hcb. Do proper study before jump.
DRREDDY INTO BEARS WARD ???!!!!Chart pattern depicts the situation clearly
REASONS
1. DRREDDY has been trading in an Ascending channel respecting the levels perfectly .
2. In Monthly timeframe, DRREDDY has given a Breakdown out of the 5 Year old trendline Support (White coloured)
3. Now, it is going through a Downswing(Descending Channel) inside the Ascending channel
4. Right now in Daily timeframe, it is Consolidating tightly in form of a Rounding Top .
5. Target & SL levels mentioned @ chart.
Safer SL - Day close above 4500
Let's wait and watch how it moves!!!!
Note - Just Sharing my view....not a tip nor advice!!!
Banknifty weekly analysis for 27/02/22.Banknifty on the weekly time frame has formed a evening star pattern and closed below the 20 ema.
Even on the daily time frame the market has closed below the 200 ema and 40k round level.
Market has been taking support from 39900 levels. If it starts trading below the levels, bearish trades can be entered and nice targets can be achieved.
On the hourly time frame, the market has closed below both the moving averages and formed a consolidation zone in the second session.
The market has consolidated in a parallel channed. Let the market start trading outside the channel and decide the intraday trend.
Support :- 39800, 39500
Resistance :- 40140, 40600
The 20 ema on 15 minutes is around the 40600 levels, watch for a resistance from it and any negative candle around it will be an opporunity.
Wait for the price action near the price levels before entering the markets.
Biocon Long Position !!!Biocon has been in a Downtrend since 2021 and may even still continue but according to the parallel channel it is trading in, it seems to have come to a good support. Also, it is al the lows of August - September 2019 which if broken could see more downfall toward 150 - 160 levels. A stop loss below 195 and target of T1 - 260 and T2 - 310 should be a good trade setup giving a 1:4 ratio.
Ascending Channel 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 = Axis bank
Time Frame = 15 min
Gold -- One leg downside possible before the huge upmoveGold is in a parallel channel in Week TF. One leg of downside possible to $1580-$1600 for a big upside movement.
Sell Gold at $1880-$1850 for a $1600.
Buy Gold at $1580-$1600 for a target of $2200-$2500.
NIFTY INTRADAY SUPPORT AND RESISTENCENIFTY 50
Time Frame = 15 Min
Pattern = Continue in channel
Pattern Type = Bearish (sideways)
CocaColaDid the big hand selling the coca-cola stock at this point of time.
Though it's very difficult to identify the next move however this is just a try to find the distribution in price
Samsungelecsince jan 2021 Samsung electronic is under selling pressure in parallel channel mode. after trying to cross 2 time still this is not able to cross the upper edge of the channel.
however this time looks to be different. It has touch the lower edge of long term channel. So I am expect the up move to continue
India Mart AnalysisHello Everyone, Today i am back with a wonderful share to swing Indiamart as you can see that there is a Inverse Head and Shoulders, a Channel and Rounding bottom which is a very bullish sign, destroying the chances of bear as stock has moved up also. This is just an opinion and do it on your own or by asking your financial advisor.
MirzaInt#Mirzaint creates a #range and when the close above 265 with #stoploss 230 then #targets are 300-325.
DFMFOODSsince 2017 it has formed a parallel channel and considering the previous monthly candle are we in good position to say this is the TOP formation?
Is Maruti is planning for a breakout?What do you think? Let me know. Also, don't forget that it is a simple analysis only and not a recommendation. Please do trading / investing with your own respnsibility. This post is only for educational purpose.
RAIN INDUSTRY LONG TERMRAIN INDUSTRIES :
On Weekly Time Frame it shows break out is awaited within few days, may be in the very next week. If it breaks out (Whose probability is high as it is currently supported by 200 EMA) , long term target would be 340 with some resistance at 240. with a very small SL , one can plan a long-term profit booking from this stock.
Stock PE : 4.50
Industry PE : 13.60
Market Cap : 5644 Cr
LTTS CMP 3612 dated 10-2-2023 LTTS CMP 3612 dated 10-2-2023
1. Parallel Channel BO @ 3550
2. Triangle BO @ 3550
3. Last Candle is Doji Candle.
Buy above 3640 for target 3725-3795-3915 SL 3500
Disclaimer :
I am not a SEBI registered Analyst so please do your own Analysis before taking any action.
The above view is shared just for educational purpose.
By no means shall be responsible for any losses amounting out of it incase if any trades on it.
It is just a view, please trade at your own risk.
AVTNPL - POSSIBLE UP MOVEAVTNPL @ 96.70 CMP , Broke out triangle pattern. TGT1-104(7%) & TGT2-115(20%) with SL @ 83 on DTF.
Educational purpose.
Channel BreakoutPlease look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Swing buy idea : MHRILWith stop below the second green line
a strong candidate for a 4 to 5% up move
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