Priceactionanalysis
TIIL - Swing trade!TIIL Swing trade!
Good bounce from strong support!
Can look for at least 1:2 R trade!
Downtrend Wedge Pattern Breakout in SBICARDSSBI CARDS & PAYMENTS
Key highlights: 💡⚡
✅On 1 Hour Time Frame Stock Showing Breakout of Downtrend wedge Pattern .
✅ Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 885+.
✅Can Go Long in this stock by placing a stop loss below 832-.
[INTRADAY] #BANKNIFTY PE & CE Levels(12/07/2023) Today will be gap up opening in BANKNIFTY . After opening if banknifty sustain above 44550 level then possible upside rally of 400-500 points upto 44950 Level. And this rally can extend for another 400 points if it gives breakout of 45050 level. Any Major downside only expected in case banknifty starts trading below 44450 level. also possible Reversal Downside 44950 level.
RBL BANK - 14.5% upmove on charts!RBL Bank today broke out of its 80 weeks old resistance with strong volumes. Currently showing a 14.5% arbitrage, but let's see as it said in TA, let your winners run, you don't know till where it goes.
PS - I am founder of Tactic, we get you the Trade Ideas of top SEBI registered users across Intraday, BTST & Positional. We are trusted by 1000 users, we will be glad to have you as a user. Do check us out from my bio.
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Coffee Day Simple Analysis BullishNSE:COFFEEDAY After a good amount of fall has created a falling wedge which is a Bullish pattern and the price has just tested a Trap Zone, hence expecting it to go up to 41.15.
Downtrend Channel pattern Breakout in EICHERMOTORSEICHER MOTORS
Key highlights: 💡
✅On 1 hour Time Frame Stock Showing Reversal of Downtrend Channel Pattern .
✅ It can give movement upto the final target of Above 3275+.
✅Can Go short in this stock by placing a stop loss below 3191-.
Cochin Shipyard Simple Analysis BullishNSE:COCHINSHIP This stock has created a falling Wedge which is Bullish and Reacting from a Trap Zone, hence expecting a Target of 609.40.
This will be approx. 5% return on investment.
Understanding Price Action and Volume in TradingIntroduction:
In trading, there are two main components to consider: the psychological aspect and the technical aspect. While this tutorial will focus on the technical part, it's important to note that the psychological aspect is also crucial for trading success. In the technical realm, two key elements to prioritize are price action and volume. By understanding and analyzing these factors, traders can gain valuable insights into market dynamics. This tutorial will provide an overview of price action and volume and explain their significance in trading.
Understanding Volume
Definition of Volume:
- Volume represents the number of transactions in the marketplace.
- Each unit of volume indicates a single transaction (e.g., a sale).
Volume as an Indicator of Strength:
- Volume does not indicate the presence of more buyers or sellers.
- It reveals the level of aggressiveness exhibited by buyers and sellers.
- Higher volume suggests greater interest or activity at specific price levels.
- Lower volume may indicate a lack of interest or support at certain levels.
Auction Market Theory:
- The market functions as an auction place with buyers and sellers seeking price equilibrium.
- Bid and ask prices reflect the orders placed by traders and institutions.
- Understanding the auction market theory helps decipher the relative strength of buyers and sellers.
- Level 2 data, including bids, asks, and time and sales, provide insights into order flow.
Understanding Price Action
Importance of Price Action:
- Price action refers to the movement and behavior of price on the charts.
- Analyzing price action helps identify trends, breakouts, and reversals.
- Price action reflects market sentiment and the acceptance of certain price levels.
Components of Price Action:
- Candlestick patterns: Analyzing the shape and structure of individual candlesticks.
- Supply and demand: Evaluating imbalances between buying and selling pressure.
- Support and resistance: Identifying key price levels where buyers or sellers are active.
Combining Price Action and Volume:
- Integrating volume analysis with price action enhances trading decisions.
- Volume confirms or contradicts price movements, providing validation or cautionary signals.
- Analyzing price action and volume together helps identify strength, trends, and traps.
Using Indicators Properly
Limitations of Indicators:
- Many indicators are lagging, meaning they rely on price data to generate signals.
- Price action and volume are leading indicators that provide real-time insights.
Simplifying Your Trading Approach:
- Remove unnecessary indicators and clutter from your charts.
- Focus on price action and volume as primary tools for analysis.
- Develop trading strategies and playbooks based on these essential components.
Conclusion:
Mastering the technical aspects of trading requires a deep understanding of price action and volume. By simplifying your approach and focusing on these key components, you can develop a solid foundation for trading success. This tutorial has provided an introductory overview of price action and volume. In subsequent lessons, we will delve into more advanced topics such as order flow and deeper levels of analysis. Remember to avoid overcomplicating your trading and always seek continuous learning and improvement.
#NIFTY Intraday Support and Resistance Levels - 10/07/2023Nifty will be gap Down opening in today's session. After opening nifty start trading below 19310 level and then possible downside rally up to 19180 in today's session. in case nifty trades Above 19350 level then the upside target can go up to the 18470 level.
Broadening Wedge pattern reversal in GODREJCP.Godrej Consumer Products Ltd
Key highlights: 💡
✅On 4 Hour Time Frame Stock Showing Reversal of Broadening Wedge Pattern.
✅ It can give movement upto the Reversal final target of below 1030-.
✅There have chances of breakdown of Support level too.
✅ After breakdown of Support level this stock can gives strong downside rally upto below 975-.
Uptrend Channel pattern reversal in SBILIFESBILIFE INSURANCE
Key highlights: 💡
✅On 4 hour Time Frame Stock Showing Reversal of Uptrend Channel Pattern .
✅ It can give movement upto the Reversal final target of Above 1350+.
✅There have chances of breakout of Resistance level too.
✅ After breakout of resistance level this stock can gives strong upside rally upto below 1405+.
✅Can Go short in this stock by placing a stop loss below 1260-.
[INTRADAY] #BANKNIFTY PE & CE Levels(07/07/2023) Today will be FLAT opening in BANKNIFTY . After opening if banknifty Start trading above 45550 level then possible upside rally of 400-500 points upto 45950 Level. Any Major downside only expected in case banknifty starts trading below 45450 level. also possible Reversal upside 45050 level.
Bullish flag pattern breakout in AUBANKAU SMALL FINANCE BANK
Key highlights: 💡⚡
✅On 1 Day Time Frame Stock Showing Breakout of Bullish flag Pattern .
✅ Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 930+.
✅Can Go short in this stock by placing a stop loss below 732-.
WELSPUN CORP - 40% upside on chartsWelspun Corp formed a 'cup & handle' pattern in the day chart breaking its all time high. The depth of the cup from a common high is 37.2% and that ladies & gentlemen is the potential the stock can rally upto post breakout.
Technically the chart is strong, but don't forget to have your own research.
Cheers :)
Rising wedge pattern reversal in RAMCO CEMENTRAMCO CEMENT
Key highlights: 💡⚡
✅On 1Hour Time Frame Stock Showing Reversal of Rising Wedge Pattern .
✅ It can give movement upto the Reversal final target of above 967+.
✅There have chances of Breakout of resistance level too.
✅ After Breakout of resistance level this stock can gives strong upside rally upto above 1010+.
head and shoulder pattern in TATACONSULTANCYTATA CONSULTANCY SERVICES
Key highlights: 💡⚡️
✅On 1Hour Time Frame Stock Showing Breakout of head and shoulder pattern.
✅ Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 3370+.
✅Can Go short in this stock by placing a stop loss above 3220-
Reversal Inverted head and shoulder pattern in naukri✅ Naukri
Key highlights: 💡⚡
✅ On 1Day Time Frame Stock Showing Reversal of Inverted head and shoulder Pattern.
✅ Strong Doji Candlestick Form on this timeframe.
✅It can give movement upto reversal target of 3860+.
✅ Can Go Short in this stock by placing stop loss Below 3540 or last swing Low.
✅ After breakout this can give risk:reward upto 1:2+.
Parallel Channel Pattern Breakout in HEROMOTOCORP HEROMOTOCORP LTD
Key highlights: 💡⚡
✅On 1Week Time Frame Stock Showing Breakout of Parallel channel Pattern .
✅ Strong Bullsih Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 3615+.
✅Can Go Long in this stock by placing a stop loss below 2725-.
RATEGAIN - 15% Arbitrage PossibilityRategain stock has broken its earlier resistance of strong 418.6 levels. With a good strong move past it, and currently retesting its breakout. It shows a potential to test its earlier levels of 502 again.
The trade is forming like, a Buy around 438, an SL at 413 & Exit at 502, its staking 6% of stock for 15% of gain. Forming a risk reward of 1:2.5.
Have your own research & Cheers!
JK Bank - 28% Move, But Stay Away!JK Bank shows amazing strength technically & looks like it can post a 28% move. But even though you have charts telling you stories, if one is going for this stock, go with a strict stoploss after having your own research.
The management has something fishy going on & the audits in past have proved it. At the end, do your own research. Although this has a good risk reward ratio, but better to skip it :)
Cheers.
Bullish flag pattern breakout in CANFINHCANFIN HOMES
Key highlights: 💡⚡
✅On 1 Hour Time Frame Stock Showing Breakout of Bullish flag Pattern .
✅ Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 855+.
✅Can Go short in this stock by placing a stop loss below 772-.
Wedge Pattern Breakout in TATACHEMICALSTATACHEMICALS LTD
Key highlights: 💡⚡
✅On 1 Week Time Frame Stock Showing Breakout of wedge Pattern .
✅ Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 1170+.
✅Can Go Long in this stock by placing a stop loss below 960-.
