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Parallel Channel

BITCOIN: Elliott Wave & ChannelGreetings, everyone.😉 I would like to present a scenario for your consideration, grounded in "Elliott Wave Theory" . ✔️ Wave initiated from the 15K level: Classified as a "Double Zigzag" ✔️ Current wave in development: Y-c-3 ✔️ Projected upward range: 93K ~ 101K The rationale behind this analysis is as follows: Zigzag patterns typically move within a parallel channel. The first zigzag wave, which started from the 15K level, adhered precisely to this parallel channel. As a result, the likelihood of a complex correction occurring is considerably high. Based on these observations, I have constructed this particular scenario. It is an illustrative representation of potential market behavior, grounded in established technical principles. Wishing you all the best of luck🍀 This is not a buy or sell recommendation. It is a personal perspective and should be used for reference only. All decisions and responsibilities lie with you.
Long
by Killer_Whales
SBINI can see two bullish patterns in chart. 1. Ascending channel 2. Rounding bottom Strong resistance is seen at the zone 824 - 826. Buy above 820 with the stop loss of 814 for the targets 826, 832 and 840. Sell below 810 with the stop loss of 815 for the targets 805, 800 and 795. 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.
NSE:SBIN
by vanathi
4
JIOFIN - Falling Channel Breakout- Daily JIOFIN - Falling Channel Breakout - Daily Name - JIOFIN Pattern - Falling Channel Timeframe - Daily Status - Breakout Volume - Good Cmp - 344.9 Target - 386 SL - 337.5 Pattern: Falling Channel Fundamentals: Here are some key financial ratios for Jio Financial Services Ltd. (JIOFIN): Price to Earnings (P/E) Ratio: 139.82 - very high Price to Book (P/B) Ratio: 1.61 Price to Sales (P/S) Ratio: 121.02 Enterprise Value to EBITDA (EV/EBITDA) Ratio: 134.42 Return on Equity (ROE): 1.15% Return on Assets (ROA): 1.11% Net Profit Margin: 77.83% Operating Profit Margin: 81.12% EBITDA Margin: 97.49% Debt to Equity Ratio: 0 (debt-free) Quick Ratio: 2513.46
NSE:JIOFINLong
by VCharts_TA
1
Bankex - Sep 2Price faced resistance at 58600 zone and fall down on friday. Pattern : Channel. Range : Medium. Trend strength : Normal. Buy Above : 58320. Stop Loss : 58220. Targets : 58420, 58500, 58580, 58660 and 58780. Sell below : 58120. Stop Loss : 58200. Targets : 58040 ,57960, 57840, 57720 and 57640. 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.
BSE:BANK
by vanathi
Attention Bitcoin Holders: This Could Be Your Last Chance!Dear Colleagues and Traders. 😉 In this post, I intend to share my analysis of the anticipated trajectory of Bitcoin, supported by both technical indicators and historical patterns. To begin, I anticipate that Bitcoin may experience a near-term rebound, which could be followed by a subsequent decline. Before we delve into the specific details of this analysis, I recommend reviewing my previous post, where I provided a comprehensive overview of Bitcoin’s long-term outlook. This context will allow for a deeper understanding of the current market conditions. ⬇️Previous Post (Long-Term Perspective) If you have reviewed that analysis, we can now proceed to examine the three critical pieces of evidence that substantiate the forecast presented today. ✔️BTCUSDT.P / BINANCE / 8H / Current / First Piece of Evidence This chart illustrates Bitcoin’s movements from June 7, 2024, to August 5, 2024, within a clearly defined descending channel. Bitcoin remains constrained within this channel, with no breakout having occurred thus far. The reliability of this channel is noteworthy. This reliability is particularly evident when we examine the midline, which has acted as both support and resistance on five occasions, thereby reinforcing the channel's structural integrity. ✔️BTCUSDT.P / BINANCE / 4H / Past Example 1 This chart, covering the period from April 14, 2023, to May 23, 2023, similarly displays a descending channel. During this time, the price consistently encountered support and resistance at the midline before ultimately breaking out to the upside. ✔️BTCUSDT.P / BINANCE / 4H / Past Example 2 Another example can be observed from January 11, 2024, to January 21, 2024. This channel, although formed over a shorter timeframe, also demonstrated a similar pattern, with the price finding support at the midline before eventually breaking out upward. ✔️BTCUSDT.P / BINANCE / 1H / Past Example 3 In this example, spanning from March 30, 2023, to April 5, 2023, we observe a comparable pattern. The midline provided robust support, and the price consistently failed to close below it, further solidifying the channel’s credibility. This setup also culminated in an upward breakout. ✔️BTCUSDT.P / BINANCE / 8H / Current Returning to the current chart, with the benefit of historical data, it becomes increasingly feasible to predict the future trajectory of Bitcoin's price. If the current descending channel maintains its integrity, a rebound, supported by the midline, appears likely. — ✔️BTCUSDT.P / BINANCE / 4H / Second Piece of Evidence The second key piece of evidence involves the RSI indicator on the 4-hour chart, where a "Hidden Bullish Divergence" is emerging. In this scenario, the price is forming a higher low on the right side of the chart compared to the left, while the RSI is creating a lower low. This formation, known as a "Hidden Bullish Divergence," often precedes an upward movement in price. Let us consider some historical examples. ✔️BTCUSDT.P / BINANCE / 4H / Past Example 1 In this chart, dated around March 30, 2024, we observe a higher low in price on the right, accompanied by a lower RSI, indicative of a "Hidden Bullish Divergence." This setup led to a price increase of approximately 13%. ✔️BTCUSDT.P / BINANCE / 4H / Past Example 2 Another instance, from October 2, 2023, presents a similar pattern: a higher low in price with a lower low in RSI, signaling a "Hidden Bullish Divergence." Following this formation, Bitcoin experienced a surge of approximately 114%, reaching a new all-time high. ✔️BTCUSDT.P / BINANCE / 4H / Past Example 3 This example from June 25, 2024, also shows a higher low in price coupled with a lower low in RSI, confirming a "Hidden Bullish Divergence." This setup resulted in a price increase of around 9%. Now, let us return to the current chart. ✔️BTCUSDT.P / BINANCE / 4H / Current With these past examples in mind, it is evident that a "Hidden Bullish Divergence" is also forming in the current chart. Should this pattern hold, we can reasonably expect an upward movement in Bitcoin’s price. — ✔️BTCUSDT.P / BINANCE / 4H / Third Piece of Evidence The final piece of evidence derives from Elliott Wave Theory, a concept that may appear complex but can be simplified. Following a low of $48,888, Bitcoin completed an upward wave, peaking at $65,737.2. We are currently in the corrective phase of this wave. This correction appears to be unfolding in the form of a "Flat" pattern, comprising three waves. The final wave in this "Flat" pattern should ideally manifest as an impulsive wave. At present, the chart suggests that an "Ending Diagonal" pattern is the most probable scenario, which could indicate a forthcoming rebound. It is imperative to note that if the price breaches the current low, the "Flat" pattern will be invalidated. However, until such a breach occurs, a strategy of buying on dips remains rational. — In summary, here is a recap of the evidence supporting today’s analysis: ⬇️ First Piece of Evidence: Descending Channel The price is currently finding support at the midline of the descending channel. Should this support hold, a significant rebound could ensue. ⬇️ Second Piece of Evidence: Hidden Bullish Divergence The price is forming a higher low, while the RSI is forming a lower low. Historically, such "Hidden Bullish Divergences" have often preceded upward price movements. ⬇️ Third Piece of Evidence: Elliott Wave Theory We are currently in the corrective phase of an upward wave, likely forming a "Flat" pattern, with an "Ending Diagonal" scenario suggesting a potential rebound. — In conclusion, based on today’s analysis, here is my trading strategy: I have set a stop-loss at the $55,969 level and plan to accumulate Bitcoin on dips from this point forward. The risk-reward ratio is highly favorable, and the stop-loss level is clearly defined, making this a prudent and strategic approach. This concludes today’s analysis. I appreciate your time and attention in reviewing this detailed post. Should you find it insightful, your support through a boost and a follow would be greatly appreciated. - ✔️ This analysis does not constitute a recommendation to buy or sell any financial instrument. ✔️ It reflects a personal perspective and is provided for informational purposes only. ✔️ Any investment decisions should be made at your own discretion, and you assume full responsibility for any actions taken based on this information.
Long
by Killer_Whales
SAFARI- Box or Consolidation BO with very good volumeSAFARI- Box or Consolidation BO with very good volume Name - SAFARI Pattern - Box or Consolidation Timeframe - Wkly Status - Breakout with very good volume Cmp - 2476 Target - 2945 SL - 2314 Pattern : A box pattern in technical analysis is a chart pattern that indicates a period of consolidation where the price moves within a defined range, forming a rectangular shape. Fundamentals: Here are some key financial ratios for Safari Industries Limited: Price-to-Earnings (PE) Ratio: 96.61 Price-to-Book (P/B) Ratio: 13.92 Debt-to-Equity Ratio: 0.093 Return on Equity (ROE): 25.8%2 Net Profit Margin: 9.87%1 Revenue Growth (5-Year CAGR): 44.7%2 These ratios indicate Safari Industries’ valuation, profitability, and financial health. The company has a relatively high PE ratio, suggesting it is valued at a premium compared to its earnings. The low debt-to-equity ratio indicates a conservative approach to leverage, and the strong ROE reflects efficient use of equity.
NSE:SAFARILong
by VCharts_TA
RADICO - Box or Consolidation BO with very good volumeRADICO - Box or Consolidation BO with very good volume Name - RADICO Pattern - Box or Consolidation Timeframe - Daily Status - Breakout with very good volume Cmp - 1942 Target - 2340 SL - 1882 Pattern : A box pattern in technical analysis is a chart pattern that indicates a period of consolidation where the price moves within a defined range, forming a rectangular shape. Fundamentals: Here are some key financial ratios for Radico Khaitan Limited: Price-to-Earnings (PE) Ratio: 96.61 Price-to-Book (P/B) Ratio: 10.062 Debt-to-Equity Ratio: 0.091 Return on Equity (ROE): 11.3%1 Net Profit Margin: 6.81%3 Enterprise Value to EBITDA: 25.793 These ratios indicate Radico Khaitan’s valuation, profitability, and financial health. The company has a relatively high PE ratio, suggesting it is valued at a premium compared to its earnings. The low debt-to-equity ratio indicates a conservative approach to leverage.
NSE:RADICOLong
by VCharts_TA
Balaji Amines - Long Term Channel - Potential breakout ahead?Balaji Amines Ltd (NSE: BALAMINES) has been moving within a well-defined ascending channel on the monthly chart. The stock has shown consistent growth, respecting both the upper and lower boundaries of this channel. The stock has been trading within this ascending channel for over a decade. Recently, it has tested the lower boundary and seems to be gearing up for another upward move. Watch for a confirmed breakout above the trendline shown. The upward trajectory in the channel suggests that the long-term trend remains bullish, but caution is advised if the support at the bottom of the channel fails. If the price breaks out above the upper trend line, it could signal the start of another impulse wave, potentially testing the upper boundary of the ascending channel. Disclaimer: This analysis is for educational purposes and should not be considered financial advice.
NSE:BALAMINESLong
by gurinder1988
National Alumimum : Showing Bullish Momentum.Price Action: 1. Trend Channel:The price is moving within an ascending channel, with multiple touches on both the upper and lower trendlines, indicating the price respects these levels. 2. Bullish Divergence:** A bullish divergence is visible as the price forms lower lows while the RSI forms higher lows. This suggests a potential reversal or upward momentum. 3. Current Price:The price is currently at ₹181.98, bouncing off a lower support level with a strong move upward of 5.09% on the day. Volume Analysis: Volume Spikes:** Noticeable spikes in volume indicate significant buying interest, particularly near the support level of the channel, which reinforces the potential for a reversal. RSI Analysis: Bullish Divergence: As highlighted, the RSI is showing a bullish divergence, where the RSI formed higher lows while the price formed lower lows, indicating waning selling pressure and a likely reversal. Current RSI Level The RSI has crossed above 50, indicating strengthening bullish momentum. Outlook: Bullish: Given the bullish divergence, upward price movement, and strengthening RSI, the stock may continue moving upward, potentially targeting the upper boundary of the ascending channel. Key Levels: The next resistance could be near the recent high around ₹200, while support remains at the lower boundary of the channel. Conclusion: This chart suggests a bullish outlook in the short to medium term, supported by a breakout from the bullish divergence, rising RSI, and positive price action within the ascending channel.
NSE:NATIONALUMLong
by brijmohan_h
KOLTEPATIL AT DAILY DEMAND ZONEKOLTEPATIL (KOLTE-PATIL DEVELOPMENT) About the company The company has been creating landmarks for over 3 decades and has developed and constructed over 50 projects including residential complexes, commercial complexes and IT Parks covering a saleable area of ~20 million square feet across Pune, Mumbai and Bengaluru. Kolte-Patil is a trusted name with an established reputation for high quality standards, design uniqueness and transparency. Stock is at Daily Demand Zone Look At the chart👇👇 Trade Setup- LTP 429 any dip upto 400 can be bought For targets🎯 457 / 483 / 505 / 521++ Above 525 it would be a breakout..... Breakout Targets🎯 555 / 581 / 600 / 625+++ WEEKLY SUPPORT 380---370 Tecnical Analysis... 1) Formation in progress of..Falling Wedge pattern on Daily Charts... 2) Volume addition 3) At good and strong numbers 4) Daily and Weekly Support Regards... Harm⭕️nics4Life 17/07/2024 Disclaimer & Risk Warning I am not sebi registered analyst. My studies shared here are for educational purposes .. Do Consult Your Financial advisor Before Taking any Trade.....Good Luck!
NSE:KOLTEPATILLong
by Harmonics4Life