Patterntrading
PVR: HEAD AND SHOULDERAfter breaching the all time high of 2086 formed on Feb'2020, stock is correcting lower in a Complex-Corrective-Wave - WXY structure. Stock is already concluded its Wave-X at the high of 1925 and currently unfolding into Wave-Y of which wave-b is taking a formation of a Bearish Triangle . The measured target where Wave-W becomes equal to Wave-X is coming in the region of 1420.
As per the conventional chart pattern stock is also forming a Head and shoulder pattern whose neckline is in the region of 1620-1590. A breakout below the neckline should add more credence to the pattern. The measured target for the pattern is coming in the region of 1200.
Stock is also trading below its 200 EMA and currently facing a resistance on the upper boundary of the parallel channel drawn from the Aug'22 high of 2214 and connecting the Dec'22 high of 1925.
Trading strategy:
Sell 1655-1660 keeping SL of 1770 look for the downside targets of :
Tgt1: 1440-1420
Tgt2: 1350
Tgt3: 1245
Valentines special trade | Swing trading idea with full logic I daily make educational content videos for swing trading ideas
2 Swing trading Ideas for 27 jan markets I daily make educational content videos for swing trading ideas
Nifty 50This is a risky analysis I was trying to fit patterns here but couldn't fit any and the best fit I got was The cup and handle and which might not be right here but it looks more likely to be good and the analysis is that the market is more likely to go up if external factors don't affect them. I've set up the targets for both Bullish and bearish market. You can have them for the options also which may work the same according to this.
And as I've always said I'm open for any suggestions, corrections and anything which can help me learn this. Also check out my other ideas on my profile
Abbott India LimitedABBOTINDIA:- Stock has given breakout by forming cup and handle pattern, keep on eye.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
How to trade PEL for Swing basis with Pattern trading I daily make educational content videos on swing trading






















