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Parallel Channel

Banknifty Price action Symmetry NSE:BANKNIFTY Banknifty price movement is still moving in a symmetry to its structure and there are very low signs of change in symmetry and Banknifty has tested the resistance level and reversed a bit validating the make-or-break zone. The resistance level is 41300 The support level is 40800 A break of any level can give good momentum. The Up price movement from the last 2 sessions has moved up with very low momentum, and the probability of a fall is very likely. This is only for educational purposes only. Always trade with stop-loss. I hope you found this idea helpful. Please like and comment. Share with Your Friends. Keep Learning, Happy Trading!
NSE:BANKNIFTY
by SANJAYPATIDAR_
INDHOTEL Down to its 2 Year old support ??!!!!Chart pattern does pave way for the above titled opinion Reasons: 1. INDHOTEL has been trading inside an Ascending Channel pattern for the past 2 years , taking support and resistance at perfect levels till now. 2. Currently it is going through the Downswing move(in the form of descending channel pattern forming lower high and lower lows) inside the major ascending channel . 3. Weekly time frame chart below 4. Target & SL levels mentioned @ chart 5. Entry can be made after hourly breakdown out of the white trendline as shown below Let's wait & watch, how it moves!!!! Note- Just sharing my view....not a tip nor advice!!!!
NSE:INDHOTELShort
by mmjimm
Dabur India Ltd. : Intraday + Swing Setup NSE:DABUR Dabur India Ltd. Intraday + Swing Analysis 1. Dabur has been forming a Channel on the hourly timeframe and its also near a support zone Most channels are the last leg of a trend. 1.(a). For intraday, it has been forming a range near channel resistance so one can trade this range Breakout or reversal(Down leg in the channel) 1.(b).Fib retracement is at 0.5 Ratio So we will look for a breakout of the channel and resistance trendline (mention on the chart) that will give us a Double confirmation. ##Targets should be 550 for intraday and for swing 569/600+ Stop is Below channel 2.RSI divergence 3. On a Weekly chart, you can see it is near the support trendline. This is only for educational purposes only. Always trade with stop-loss. I hope you found this idea helpful. Please like and comment. Share with Your Friends. Keep Learning, Happy Trading!
NSE:DABUR
by SANJAYPATIDAR_
2
Minor Rebound is expected. On daily chart it has given parallel channel breakout after a year of consolidation which touched roughly its breakout target level of 18900. Since then, it has now retraced to retest this breakout line. Now 2 scenario could be possible mostly to me is :- 1.The market may experience a minor rebound up to the level of 173xx-177xx, before breaking into the parallel channel. 2. It may resume its bull rally and complete the flag-pole chart breakout level. However, given the current economic situation, this outcome seems unlikely. It is important to note that until the market breaks into the parallel channel, things may not be as doomsday as they appear.
NSE:NIFTY
by PriceWorksIndeed
2