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Parallel Channel

BALKRISHNA INDUSTRIES LTD – Descending Channel Pattern 1. Pattern Analysis The price structure has developed a Descending Channel Pattern over a span of 10 months, making it a tradable and valid setup as per Mr. Chartist's methodology. The pattern is defined by a sequence of lower highs and lower lows, bounded by clearly marked red resistance and blue support trendlines. The price is currently hovering very close to the upper resistance of this descending channel, indicating an attempt at a breakout. Given that descending channels are typically considered bullish reversal formations when price action breaches the upper trendline, this chart now sits at a critical juncture. 2. Volume Analysis The volume dynamics offer strong evidence of accumulation, particularly in the recent phase where the price surged from the lower end of the channel toward resistance. There has been a notable increase in volume during the most recent upswing, especially as the price approached the upper trendline. This suggests the presence of institutional buying or smart money entering the stock at lower levels. The previous downswings were characterized by muted volume, while the upswings are supported with rising participation — a classic bullish divergence in volume behavior. 3. Candlestick Analysis Recent price action has been marked by bullish candles with expanding bodies and strong closes near the day’s highs. This aggressive price movement toward the channel resistance, backed by rising volume, reinforces the bullish undertone. In particular, the bullish momentum off the lower support (around ₹2,150) to the current level suggests a shift in sentiment from supply dominance to demand. However, the current candle sitting just at the resistance line is crucial — a strong breakout with a wide-range candle closing above ₹2,700 would confirm a pattern breakout and trend reversal. 4. Validation of Signal The bullish setup is nearly validated but not fully confirmed yet. The descending channel pattern’s resistance has been tested but not conclusively broken. The stock is showing strength as it challenges this upper boundary with both price action and volume signaling intent. If the price can sustain above the channel with follow-up buying pressure, it would mark a valid breakout. Until then, the breakout anticipation remains strong but requires confirmation on a closing basis. The risk/reward remains favorable, given the proximity to breakout level and supportive buying volumes. 5. Tradable Points Determination Entry Point Determination A clean and confirmed entry will be on a breakout above ₹2,700 with strong bullish follow-through. Traders may also consider a pre-breakout entry between ₹2,660–₹2,690 with a tight stop, expecting a breakout in the next few sessions. Target Point Determination Based on the height of the descending channel (roughly ₹600), the measured move target after breakout would project toward ₹3,250–₹3,300, aligning well with previous consolidation zones from early 2024. Stop Loss Placement and Trailing SL Follow-Up For initial risk control, a stop loss can be placed below the most recent swing low at ₹2,500. Upon breakout confirmation, this can be trailed to the breakout zone (around ₹2,700). As the stock moves past ₹2,900, further trailing can be done using higher swing lows on the daily chart to lock in gains while allowing trend continuity.
NSE:BALKRISINDLong
by Mr_Chartist_
CUPID LTD – Descending Channel Pattern 1. Pattern Analysis CUPID Ltd has been trading within a well-defined Descending Channel Pattern for the past 1 year, marked by a consistent sequence of lower highs and lower lows. The pattern is bounded by a red resistance line at the top and a blue support line at the bottom, reflecting a controlled downtrend. This descending channel reflects a classic corrective phase after a prior sharp fall, allowing the stock to gradually stabilize its structure. As of the latest price action, CUPID is testing the upper boundary of this descending channel, suggesting a potential breakout attempt. While a clean breakout hasn’t yet been confirmed, the approach toward this resistance zone after a strong move from the lower boundary increases the probability of bullish continuation. The channel structure remains valid and offers a clear risk-to-reward framework for traders anticipating a breakout. 2. Volume Analysis Volume behavior in CUPID has undergone a significant shift in recent sessions. During the earlier phases of the downtrend, volume remained muted and largely unconvincing on both up and down days, confirming the overall weakness. However, in the most recent up move, particularly the rally from ₹56 to ₹78, there has been a noticeable surge in volume, pointing toward renewed buying interest. Notably, the bars representing this advance have coincided with volume expansion, which is often an early indicator of accumulation. This surge hints at the presence of institutional or smart money entering the counter at lower levels. Additionally, the volume spike near the lower blue channel support suggests buyers stepping in strongly at value zones, further lending strength to the ongoing bullish momentum. 3. Candlestick Analysis / Price Analysis The price action in CUPID has shifted to a bullish tone, especially since bouncing off the lower boundary of the channel. Over the past few weeks, the stock has formed a series of higher lows, and the recent candles are characterized by strong bodies with minimal upper wicks—indicative of decisive bullish control. The move from the ₹56–₹58 zone to ₹78 has been quick and with conviction. These price formations near the channel resistance convey an intent to break out rather than reject the level, which makes the ongoing structure even more interesting. The absence of strong bearish reversal candles and the steady upward grind suggest that sellers are gradually losing control. Additionally, the recent price bars have consistently closed near their intraday highs, signaling aggressive buying during market sessions. 4. Validation of Signal Although the price has not yet cleanly broken out of the descending channel, the convergence of volume, price behavior, and structure validates a bullish setup in progress. The current structure hints that CUPID is building strength for a breakout. The key validation will occur once the price closes above ₹80–₹82 with strong volume, confirming that supply has been absorbed. Until then, the setup can be considered a pre-breakout accumulation stage with bullish bias. The stock has not shown signs of exhaustion or long-wick candles that would indicate rejection, reinforcing the expectation of further upside. A breakout from such a long-standing descending channel would signal a major reversal, potentially changing the trend from bearish to bullish for the medium term. 5. Tradable Points Determination Entry Point Determination An ideal entry can be considered near the current levels around ₹76–₹78, with confirmation to add aggressively above ₹82 once a breakout candle closes strongly. Traders willing to anticipate the breakout may initiate positions with tighter risk management. Target Point Determination The height of the descending channel is approximately ₹35–₹40, ranging from the lower boundary (₹55) to the upper resistance (₹90). On a successful breakout above ₹82, we can expect the following targets: Target 1: ₹95 (near-term resistance) Target 2: ₹105–₹110 (measured move projection) Target 3: ₹120+ (extended rally potential) Stop Loss Placement and Trailing SL Follow-Up A logical stop loss should be placed just below the recent swing low at ₹70 to protect against failed breakout attempts. For trailing: Move SL to ₹75 once price crosses ₹90 Move SL to ₹85 once price crosses ₹100 Lock profits at ₹95+ and trail for ₹110 or beyond This trailing approach ensures protection of profits while participating in potential long-term reversal.
NSE:CUPIDLong
by Mr_Chartist_
Bearish Setup in Gold: Breakdown Confirmed with Strong Volume!Hey, what's up Traders! I’ve been watching Gold closely, and it seems like we’re seeing a descending channel setup. After hitting the top, it’s now testing the lower boundary. If Gold can't hold this support level, we could see a nice downward move. The entry range I’m eyeing is around 3275-3295 , with a stop loss just above at 3239 . 1st target : 3209 2nd target : 3160 Final target : 3120 The volume behind this move suggests we might see more selling pressure. If Gold breaks through the lower trendline, the downside move could gather more momentum. As always, let’s manage risk carefully, stay sharp, and watch the price action closely! Disclaimer: This analysis is for educational purposes only. Please consult a financial advisor before making investment decisions. If you found this helpful? Don’t forget to like, share, and drop your thoughts in the comments below.
TVC:GOLDShort
by TraderRahulPal
15
Nifty at Crucial Juncture. 22670 To Watch For!Nifty has shown some resilience despite Global Fallout following Tariff War. Scenario B had been in the Play until Friday. However The Retaliation from China led to Historical Correction in Global Market. Considering above Change in Global Sentiment, Our Approch needs some reconsideration. With Scenario C likely to come into play with Big Gap down suggested by Gifty, let's have a look at Crucial Level that is 22670. Whether Nifty sustains and Closes the coming Week above it or Below it could decide which Scenario plays out Scenario A - Nifty doesn't break the Low made at 22000 and closes above 22670. This could lead to further upside testing 24750 25000 Zone. Scenario B - Nifty falls out of the Green Parallel Channel closing below 22670. This could lead to further downside testing 21300 Zone. However in either scenario Chances of Downfall Continuation looks less likely given the Weakness Suggested by The Divergence in RSI And Nifty trading near Demand Zone. We Need a decent Pullback before further Greater Downfall.. Which Scenario do you think will be in Play this week? We will be on sidelines next week unless Nifty takes Support at 22670 Zone or tests 21300 Zone. 🤞
NSE:NIFTYLong
by DrAnandM
Breakout Vinati Organics Ltd. (Daily Timeframe)Downtrend channel since August 2024. Well-established descending channel broken decisively on the upside. Breakout from the downward parallel channel, signaling potential trend reversal. Price closed above both the upper trendline and horizontal resistance (around ₹1,690–₹1,700). Immediate Resistance 1,690–1,700 is Broken, Next Resistance can be 2,309. Stock breakouts 1,690 resistance, now this resistance turned into support. Breakout Entry: Around 1,700–1,729 (current levels suitable for momentum buyers) Retest Entry: Ideal entry on pullback to 1,690 if price retests breakout zone SL: Below 1,650 Wait for a daily close above 1,730 for confirmation if entering late.
NSE:VINATIORGALong
by RA_Dongre_Ji
TRF Ltd- Descending Channel Pattern BreakoutWeekly Chart- 1. Pattern Analysis TRF LTD currently showcases a powerful confluence of three distinct bullish patterns across varying timeframes, making the setup especially notable. On the monthly chart, we identify a Rounding Bottom pattern spanning an impressive 13 years. This rare and robust pattern has finally transitioned into the breakout phase, confirming a long-term structural reversal from its historic lows. The neckline breakout occurred above the ₹360 level, with the next major resistance seen around ₹467. Simultaneously, the weekly chart illustrates a strong recovery from the ₹360 support zone, a level that has held significance for over a year. The price has now started reclaiming higher levels with renewed momentum. Adding to this setup, the daily chart reveals a Descending Channel breakout, a pattern that spanned nearly a year. Price has decisively broken above the upper trendline of the descending channel, completing a short-term reversal within a broader long-term bullish context. Together, these patterns highlight a strong reversal narrative, where long-term and short-term structures are aligned, increasing the reliability of the bullish signal. 2. Volume Analysis Volume behavior is a critical supporting indicator in this setup. On the monthly timeframe, we’ve observed volume expansion during the breakout phase of the 13-year Rounding Bottom. Such elevated volumes indicate strong accumulation by institutional players, likely building long-term positions. The weekly volume remains significantly above average, particularly in the last two candles, as the stock pushed above the ₹360 level. This supports the idea that the bounce is not random but backed by genuine buying interest. On the daily chart, the breakout from the Descending Channel was marked by a surge in volume, creating a classic volume-price breakout pattern. This alignment of increasing volume with breakout points across all timeframes signals strong conviction behind the price move and validates the breakout quality. 3. Candlestick / Price Analysis The price action on the daily chart has turned highly constructive. A sequence of strong bullish candles with wide ranges and strong closes confirms intraday demand dominance. The candle on the breakout day from the channel is particularly notable, closing near the day’s high with a wide range, forming a bullish marubozu pattern—often a signature of trend change. The weekly chart reflects a clean reversal with the current candle engulfing previous minor resistances and forming a powerful bullish candle. The shift in sentiment is visible through successive higher lows and higher highs over the past few weeks. On the monthly chart, the structure confirms the end of a multi-year base-building phase, with the current candle showing strong follow-through after a confirmed breakout. The price is well above the 10-month average and is now targeting prior highs with limited resistance in the near zone. 4. Validation of Signal All three timeframes – monthly, weekly, and daily – are currently aligned in favor of a bullish reversal. The monthly rounding bottom breakout is validated with both volume expansion and price follow-through. The weekly chart confirms a successful retest of the ₹360 level, and the daily breakout from the descending channel adds momentum and timing for potential swing and positional entries. Moreover, price is now hovering close to the ₹433 level, just shy of the major monthly resistance at ₹467. A sustained move above ₹467 would likely open doors to higher targets based on the full projection of the rounding bottom base. Thus, we have a multi-timeframe breakout confirmation that strengthens the bullish signal and reduces the probability of a failed breakout. 5. Tradable Points Determination Entry Point Determination Traders may look for an entry around the current price near ₹430–₹435. Given the recent breakout and strong bullish structure, any small dip or consolidation near this level would offer a low-risk entry setup. For those waiting for confirmation, a breakout above ₹467 will act as a further entry trigger. Target Point Determination Based on the rounding bottom base width and prior high projections: Target 1: ₹525 – a near-term swing target based on channel height from the daily pattern. Target 2: ₹600 – medium-term target from the breakout of the descending channel and historical supply zones. Target 3: ₹700+ – long-term target derived from the height of the Rounding Bottom base, projected from the ₹360 neckline breakout level. Stop Loss Placement and Trailing SL Follow-up An initial stop loss can be placed below ₹385, just under the breakout zone and recent swing low. For positional trades based on the monthly structure, a wider stop near ₹360 may be considered to accommodate volatility. Once price sustains above ₹467, traders should consider trailing the stop loss higher—perhaps to ₹420 initially and then to ₹467 as price nears ₹525. This trailing approach helps secure profits while staying in the trend.Mo
NSE:TRF
by Mr_Chartist_
BANKNIFTY Descending Channel Breakout Alert – Targeting 57450+The chart displays a descending channel breakout in the Bank Nifty Index on the daily timeframe. After months of consolidation between a downward sloping resistance and support trendline, a strong breakout has been observed. 🔺 Resistance Zone (Red Channel) Multiple rejections along the red downward sloping trendline marked as Resistance. The breakout candle has successfully closed above this zone, confirming a bullish breakout. 🔻 Support Zone (Green Channel) Historically strong buying zones identified at the green support trendline. Each dip toward this line was followed by a bullish move. 📈 Breakout Confirmation The price has broken out of the resistance channel, and the breakout zone is highlighted with a black circle. The pattern height is used to estimate potential upside targets post-breakout. 🎯 Target Levels Post-Breakout Initial Target: 53,950+ Next Target: 55,450+ Projected Final Target: 57,450+ (Calculated by adding the pattern height to the breakout level) 🛑 Stop Loss Strategy A strict stop loss is placed below 51,450, to manage risk in case the breakout fails.
NSE:BANKNIFTYLong
by TradZoo
GOLD XAUUSDGold is into bullish uptrend where everyone wishes to get boarded and super bullish for coming months. however personally I am not comfortable with this pace of the metal. I had gone wrong multiple time with this bullish up move. I will be more happy to go wrong again. Bullish up move parallel channel upper edge again may act as profit booking area. 3250 is imp level for bulls. It's too early to say if profit booking comes after that or it's going to be sideways movement which act as time correction with price staying range bound.
TVC:GOLD
by SunilDhawan
NIFTY in a ChannelNifty inside a channel. This content is for informational and educational purposes only and does not constitute financial, investment, or trading advice. All opinions expressed are solely my own and should not be considered as recommendations to buy or sell any financial instruments. Trading and investing involve substantial risk and may not be suitable for all individuals. Always conduct your own research and consult with a qualified financial advisor before making any trading decisions. I am not responsible for any losses you may incur.
NSE:NIFTY
by tomjm1
Trent Faces Deeper Correction RiskTopic Statement: Trent has witnessed a major correction along with the broad market decline but still remains overbought indicating further downside risk. Key points: - Stock retraced to the 50% Fibonacci level and found support near ₹5000. - Price is moving within a well-defined down-trending channel. - Despite the correction, price is still significantly above the 180-day EMA, suggesting selling pressure may continue until valuation cools off.
NSE:TRENTShort
by yogeshwar
1
COLAGTE Falling Wedge + Stong Base = Breakout Loading (COLPAL)Falling Wedge + Strong Base = Breakout Loading! 🚀 🔍 Technical Overview Pattern : Falling Wedge (bullish reversal pattern). Support Zone : ₹2,347 – ₹2,409 (highlighted demand zone with historical significance). Breakout Signal : Price has broken above the wedge with a bullish candle and rising RSI. Volume : Subtle increase in volume during the breakout. 📈 Trade Setup Entry: ₹2,411 (Current price after breakout) Stop Loss: ₹2,347 (Below the wedge and support zone) Target: ₹2,713 (Previous swing resistance) 📊 Indicators RSI: Moving above 52 – bullish shift in momentum Volume: Gradual accumulation visible Trend: Base formation after a prolonged downtrend, signaling potential trend reversal ⚖️ Risk-Reward Ratio RRR ≈ 1:4 Great reward potential with a tight stop and strong technical base!
NSE:COLPALLong
by MyT_Trader
Dixon Technologies: Key Levels & Market Outlook📌 Dixon Technologies (NSE: DIXON) – Key Levels & Market Outlook Dixon Technologies (DIXON) is currently trading above a crucial support zone of ₹13,000-₹12,800. If the stock sustains this level and breaks above the ₹13,630 resistance, it could see an upside move toward ₹14,000-₹14,600. However, a breakdown below ₹12,800 may lead to further downside pressure. 🔍 Technical Indicators: 📊 Supertrend (10,3): The indicator is currently in a buy mode, supporting a bullish outlook as long as ₹12,800 holds. 📈 Fibonacci Retracement: The ₹13,630 resistance aligns with a key retracement level; a breakout above this could confirm strength. 📉 ADX (Average Directional Index): Currently at 23, suggesting a developing trend; a move above 25-30 would indicate strong bullish momentum. 📊 OBV (On-Balance Volume): Rising OBV signals strong accumulation, supporting an upward breakout scenario. 📌 Key Levels to Watch: ✅ Support Zone: ₹13,000-₹12,800 📍 Resistance Level: ₹13,630 🚀 Upside Targets: ₹14,000-₹14,600 ⚠ Breakdown Risk: Below ₹12,800, the stock may slide toward ₹12,500. A sustained move above ₹13,630 could accelerate buying momentum, pushing Dixon toward ₹14,000-₹14,600. On the other hand, a break below ₹12,800 may invite selling pressure. Keep an eye on sector trends, demand in electronics, and institutional activity for further confirmation.
NSE:DIXONLong
by Mavenette_Trader
A possible trend reversal in ACC. (01/04/2025)ACC Ltd is trading in a narrow range and is in a downtrend. There are chance of a trend reversal as the indicators are predicting and the price action too seems to follow with them. The channel break out in the stock can confirm the trend reversal. If the stock give a break out and retest, stock can be bought in cash or in F&O segment too. Good targets can be captured in the stock as the break out after a year will be there. Stop loss and Targets should be as per the risk to reward appetite. Wait for the price action and trade accordingly. Patience will help in capturing the most profitable trades, otherwise losses will be eating away the capital.
NSE:ACC
by TheMamboMomentum
BankNIFTY’s Resilience Faces a Trend ShiftTopic Statement: BankNIFTY has shown resilience compared to NIFTY during the market correction but has entered a mildly downtrending channel after breaching its long-term uptrend line. Key points: - The breach of the long-term uptrend line indicates the end of the bullish pattern. - BankNIFTY is moving in a mildly downtrending channel. - A breakout on the upper side of the channel will shift the trend back to bullish. - The price remains far above the 180-day moving average, making BankNIFTY overbought and expensive.
NSE:BANKNIFTY
by yogeshwar
GLENMARK PHARMA (NSE: GLENMARK) – Confirmed Channel BreakoutGlenmark Pharma has confirmed a breakout from a falling wedge and flag & pole pattern , supported by strong volume and a bounce from the 200 EMA . Price structure and momentum suggest bullish continuation. Key Observations: Pattern Formation: Falling wedge + flag & pole since September 2024 Breakout Confirmation: Closed above upper trendline at ₹1,519.85 on March 27, 2025 200 EMA Support: Price took support at 200 EMA and reclaimed both key moving averages Volume Spike: High volume on breakout candle validates the move Support & Resistance Levels: Immediate Support: ₹1,432 Breakout Level (Entry): ₹1,520 Target 1: ₹1,813 Target 2: ₹2,076 Major Resistance: ₹2,100 Indicators & Risk-Reward: ✅ RSI: 64.92 – showing strong bullish momentum ✅ Volume: Significant volume surge during breakout ✅ Risk-to-Reward: ~1:3 – ideal for swing setup Verdict: Bullish With pattern breakout, volume confirmation, and RSI strength, Glenmark is poised for a potential up-move. Plan of Action: BUY: ₹1,520 Stop Loss: ₹1,432 Target 1: ₹1,813 Target 2: ₹2,076 Trailing SL: Start trailing above ₹1,650 to protect profits
NSE:GLENMARK
by finnova_