Get started

Priceactionanalysis

RELIANCE - THE TREND SETTER?? ♠︎Hello Pivster's ★ We see a beautiful chart of (Pivot-Points + Price-Action) on the street favourite and most watched stock by the bulls to provide them a power booster for the coming sessions if required. NSE:RELIANCE has off-late been in news for one of it's business subsidiary "JIO Financial"s stock market debut in the coming month. ➖ What can we expect further from Motabhai's company in the upcoming session ↘︎ 📍One of the main X-factor for this Oil & Gas giant up-move is declining Crude Oil prices which makes the scenario beneficial for all the OMC companies as a whole. • As seen in the chart with the applied Monthly Pivot Points, it is very clear of a strong confluence at a major support level with the ML3 cam level 2460-2475. • Here the responsive buyers in the broader TF took the price above the Monthly CPR which in terms of price-action is a triangular breakout pattern. But, wait do we see NSE:RELIANCE contributing approx. 25% of the previous session NSE:NIFTY 's upmove along with IT and FMCG sector as the script alone was up by 2.25% in the previous trading session 🤓 Keeping the above factors and pointers in mind we can expect bulls to take help of NSE:RELIANCE to break through the major seller's resistance zone and can act as a catalyst for the upcoming sessions. Lastly, if you liked it and found useful share it everywhere with your fellow-traders/friends/family etc... 🫶 Regards, Mukkull
NSE:RELIANCE
by PivotMinati
1
Don't let NEULAND get Out of Hand !!!-Annual Revenue rose 26%, in the last year to Rs 1,200 Crores. Its sector's average revenue growth for the last fiscal year was 8.4%. -Annual Net Profit rose 156.2% in the last year to Rs 163.5 Crores. Its sector's average net profit growth for the last fiscal year was 1.3% -Price to Earning Ratio is 24.9, lower than its sector PE ratio of 42.6. -FII/FPI have increased holdings from 18.14% to 20.19% in Jun 2023 qtr. -Mutual Funds have increased holdings from 0.99% to 1.57% in Jun 2023 qtr. Neuland Laboratories is engaged in manufacturing and selling of bulk drugs and caters to both domestic and international markets. Their products are exported to more than 35 countries including Germany, Italy, Switzerland, the UK and the Netherlands.
NSE:NEULANDLABLong
by CannySunny
2
Hourly timeframe analysis of Canara BankA short-term trade can be initiated based solely on the hourly trendline. This approach offers a trade opportunity with a risk-reward ratio of approximately 2. (Though the potential upside seems considerable, it's wise to consider 2 as a minimum expected ratio.) For this short trade, the stop loss can be determined by looking at the support trendline drawn in the hourly timeframe or the latest low. As for the target, aiming for a price range of 350 to 360 could be a prudent strategy.
NSE:CANBKLong
by popularExpert69803
Exploring Canara Bank Stock: An Breakout of an 11-Year TrendlineIn the world of stocks, interesting trends can often reveal exciting opportunities. One such intriguing situation is happening with Canara Bank's stock. There's an 11-year-old trendline that has been obeyed by the price six times in the past. And now, it appears that a breakthrough is occurring in this stock. If we look at the monthly candle of July 3, 2023, we can observe a breakout from this resistance trendline. This breakout presents a chance for a trade with a promising risk-reward ratio of around 2.7. To explain, the recent low (trading between 270 and 278) can act as our stop loss, while the target lies within the resistance zone ranging from 499 to 514. This is our initial target. However, it's worth noting that we could even aim higher, targeting all-time highs (ranging from 723 to 732). This ambitious goal could potentially yield a remarkable risk-reward ratio of about 6.5. Yet, achieving this could take quite some time and would depend on how the stock's price action and momentum unfold during the journey to the initial target. Delving into entry conditions, we also see some promising signs on the hourly timeframe. The stock has displayed significant price action here as well. The hourly trendline, much like its longer-term counterpart, has been tested around 5 to 6 times in the past, making it a reliable marker. Once this hourly trendline is breached, it could serve as a trigger for initiating long positions. Alternatively, a short-term trade could also be initiated based solely on the hourly trendline. This approach offers a trade opportunity with a risk-reward ratio of approximately 2. (Though the potential upside seems considerable, it's wise to consider 2 as a minimum expected ratio.) For this short trade, the stop loss can be determined by looking at the support trendline drawn in the hourly timeframe. As for the target, aiming for a price range of 350 to 360 could be a prudent strategy. In conclusion, the unfolding breakout in Canara Bank's stock presents an exciting scenario. Whether pursuing a longer-term target or considering short-term gains, the trendline dynamics in both the monthly and hourly timeframes offer intriguing opportunities for investors to consider."
NSE:CANBKLong
by popularExpert69803
PNCINFRAPNCINFRA:- Consolidation is happening in a range, if we get a breakout, we can see a strong movement to the upside. 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.
NSE:PNCINFRALong
by AjayDhakad_Keep_it_simple