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Rectangle

Dhani Services Ltd. Based on Rectangle Pattern Breakout 1. Pattern Analysis - Rectangle Pattern: - Timeframe: 2 Years - Description: The stock has been consolidating within a rectangle pattern, with a well-defined resistance at ₹75 and support at ₹40. This prolonged sideways movement indicates accumulation and a potential buildup for a significant move. - The breakout above ₹75 marks the end of the consolidation phase and the start of an upward trend, confirming a bullish breakout. 2. Volume Analysis - Volume Behavior: - During the consolidation phase, volume remained low, which is typical for a rectangle pattern. - A notable volume spike during the breakout, as seen recently, signifies increased market participation and validates the breakout. 3. Price Action Analysis - Resistance Levels: - ₹75: The previous resistance and breakout level. - ₹90–₹100: Immediate target zone based on historical price action. - Support Levels: - ₹60: Potential retest zone after the breakout. - ₹40: The lower boundary of the rectangle, serving as the final support. - Candlestick Behavior: - The breakout was marked by a strong bullish candlestick with a close near its high, indicating momentum. - Recent higher highs and higher lows further confirm bullish price action. 4. Validation of Bullish Signal - The breakout above ₹75 is supported by a clear volume spike, showing increased demand. - The long consolidation period adds reliability to the breakout, as prolonged patterns tend to yield stronger moves. 5. Target Setting - Rectangle Pattern Target: - Height of the rectangle = ₹75 - ₹40 = ₹35. - Target = ₹75 + ₹35 = ₹110. - Incremental Targets: - Target 1: ₹90 (+20% from ₹75). - Target 2: ₹110 (+46% from ₹75). 6. Entry and Stop Loss - Entry Levels: - Primary Entry: Above ₹75 after the breakout. - Pullback Entry: Near ₹60 if the stock retests the breakout level. - Stop Loss: - Place a stop loss at ₹60, below the potential pullback zone. 7. Trade Setup Summary - Entry Levels: - Above ₹75 for momentum traders. - Near ₹60 for a pullback entry. - Targets: - Target 1: ₹90 (+20%). - Target 2: ₹110 (+46%). - Stop Loss: ₹60. 8. Final Notes Dhani Services Ltd. has successfully broken out of a 2-year rectangle pattern, with strong volume confirming the breakout. The long-term consolidation suggests that the breakout has significant potential to drive the stock higher, making it an attractive opportunity for traders. Close monitoring of price action around ₹75 and ₹60 is recommended for entry and to manage risk effectively.
NSE:DHANILong
by Mr_Chartist_
3
Breakout Soon Stock- Sastasundar Ventures Limited [SASTASUNDR 1. Pattern Analysis - Rectangle Pattern (10 Months) - The chart showcases a well-defined Rectangle Pattern, a consolidation phase that has lasted for 10 months. - The upper boundary of the rectangle is at ₹372, which acts as a resistance level, while the lower boundary is near ₹280, serving as strong support. - The price is attempting to break out of the rectangle, with a potential move higher if the breakout sustains. 2. Volume Analysis - Volume and Price Action - Significant volume spikes are observed during recent price movements, especially during the breakout attempt. - This increase in volume validates the breakout signal, suggesting strong buying interest. - The earlier accumulation phase within the rectangle pattern also exhibited gradual volume buildup, indicating institutional participation. 3. Price Analysis - Current Price Action - The stock closed at ₹372, up 6.23% in the last session, indicating strong bullish momentum. - The breakout from the rectangle is accompanied by sharp price action, further confirming the bullish trend. - Candlestick Patterns - Recent bullish candlesticks with long bodies and minimal wicks highlight sustained buying pressure near resistance levels. 4. Validation of Bullish Signal - Breakout Confirmation - A decisive close above ₹372 on high volume confirms the rectangle breakout, signaling the continuation of the uptrend. - Sustaining above ₹372 in the coming sessions will be crucial for validating the bullish move. - Key Levels - Support Levels: ₹280 (rectangle base) and ₹320 (midpoint of rectangle). - Resistance Level: ₹372 (breakout level). 5. Entry Point Determination - Recommended Entry: A buy signal is triggered if the stock sustains above ₹372 with continued volume support. 6. Target Setting - Pattern Target - The height of the rectangle (~₹92, from ₹280 to ₹372) is added to the breakout level (₹372). - Target Price: ₹464. 7. Stop Loss Placement - Recommended Stop Loss: Place the stop loss at ₹340, slightly below the breakout level, to protect against false breakouts.
NSE:SASTASUNDRLong
by Mr_Chartist_
MUHURAT TRADING 2k24 - Stocks to Add in Portfolio Happy Diwali Traders !! Here's Diwali Muhurat trading picks for 2024 NSE:SARLAPOLY Sarla Performance Fibers Ltd. engages in the manufacture and distribution of synthetic yarn. The firm also offers wind power generation. It operates through the Yarn and Generation of Wind Power segments. The company was founded on November 23, 1993 and is headquartered in Mumbai, India. Technical View:- On monthly chart it has given a strong breakout on good volume and completed a retest, CMP @94 looks Good to enter for a follow up Move Stop level should be below -50 Target levels are - 150,220,350+ NSE:GODREJAGRO Godrej Agrovet Ltd. engages in the manufacturing and marketing of animal feeds. It operates through the business segments: Animal Feed, Crop Protection, Vegetable Oil, Dairy and Other Business. The Other Business segment includes, seed business, energy generation through windmill, real estate, poultry and cattle breeding businesses. The company was founded in 1992 and is headquartered in Mumbai, India. Technical View:- The monthly chart breakout is good and now forming a Retest Of the zone, you can take a Few quantities on muhurat day but more quantities should only be added on the confirmation of retest only. CMP is 712.80 But for confirmation, we need a weekly candle close above 730 Zone. StopLoss level is 480 Targets are 950,1150,1500+ Note:- Always Use proper Position sizing rules before entering in the trade. Keep Learning, Happy Trading, Enjoy Festival.
NSE:GODREJAGROLong
by SANJAYPATIDAR_