Parallelchannels
Crudeoil Analysis on Daily Chart (Expecting Downside)As per my analysis, I have seen that crudeoil is travelling between this parallel channel from a long time and respecting the levels.
I am expecting more downside in the upcoming days in case bottom blueline will be break, please comment below your views about this analysis.
If you have any query, please feel free to post in comment section.
Disclaimer : Information provided here meant for study/education purposes only & should not intended to as a trading/investing advice.
SRF Parallel channel supportThe stock is travelling between parallel lines , the down line acting as demand and upper line acting as supply , buyers will take charge until the supply zone and sellers will take charge from supply zone to demand area. its for positional trade and those levels are mentioned in chart and price should come back between orange line then this idea will work . the content can be used for educational only.
Shriram Transport finance Long ideaShriram transport Fin can long as it is trading in parallel channel for target 1220++ soon
BHEL moving inside the Parallel Channel
Bhel has couple of resistance ahead, 73, 77 and 80 .
Result of this quarter has not boost the confidence of investor thus far.
So, it might move down to touch the support of the parallel channel.
Positional view for the next 10-15 days :-
Target : 65
Entry at 73+
SL: 75
for more details see the chart .
Tata Consumer breakoutTata Consumer - Short Term Range Breakout Idea
When the price crosses the range, it is likely to continue in that direction. Intraday traders then use the breakout as the entry point. In simple words, the opening range breakout strategy means taking a position when price breaks above or below the previous day's high or low
Tata Consumer Products is an Indian fast-moving consumer goods company with its corporate headquarter in Mumbai, and is a part of the Tata Group. Its registered office is located in Kolkata. It is the world's second-largest manufacturer and distributor of tea and a major producer of coffee.
Canara bank spot cmp 306Canara bank started its upmove from levels of 80 and now it trading around levels of 310 almost have given a rally of 4times in last 2 years
Now on weekly time frame counter is trading around resistance levels of descending trend line, which is around 310-325 levels,
in last one week counter is consolidating in range 303-315 levels and now able to sustain higher,
Wolf wave formation is observed from the low of 2020 to till date and counter is overbought as per the structure of wedge, 5th wave of wolf wave is almost matured and waiting for reversal confirmation, any weekly bearish candle formation would lead to confirmation of trend reversal in counter,
Bearish divergence on RSI is observed on weekly time frame, price wise reversal can be seen on weekly candle closing below 301 levels,
Its time to book your investment on this counter , fresh investment is only suggested above 331 levels on weekly closing basis, any reversal confirmation leads to levels of 260-220 levels,,
Time to be cautious on this counter.
SBIN case studyCounter is trading in ascending parallel channel structure, few days ago on result day counter gave a gap up opening and now counter have filled the gap,, now closing below 593 would lead to reversal confirmation,
so sustaining below 593 on closing basis and follow through would lead to levels of 579 and 551
going a head,,
if not able to close below small bounce can be seen..
keep watch on levels for this counter
ICICI Bank Parallel Channel: Swing TradeNSE:ICICIBANK is in a parallel channel, where the current price action is at the bottom of the channel.
So, it' a nice swing trading strategy to buy around 900 and sell once around 960. If sustains above 960, buy and then sell again on 1020. Roughly 120 point range play.
CIPLA| Leader of Next Pharma BullRun| 45% UpsideNSE:CIPLA
CIPLA - CMP in Blue Sky Zone and near Life time high
Rising in Parallel Channel since 24 month
13 month consolidation in tight range & then resumption of uptrend.
Targets: 1320 - 1458 - 1683
Upside : 45%
SL : 990
Time Frame : 6 - 18 Month
CMP above all major monthly Exponential Moving Averages
RSI in Bullish Zone