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BHARAT FORGE - TREND CONTINUATION PATTERN GUIDENSE:BHARATFORG What is trend continuation ? Trend continuation means when we are in uptrend and witness a healthy correction most likely sideways movement in a channel and it breaks the correction sideways zone with big momentum candles then it might be signaling a strong new up trend starting. #so lets see how we can play with trend continuation on a live setup in Bharat forge. Whats happening in Bharat forge? *Used Bar chart on a weekly Timeframe. There are confluence of factors that are signaling this setup. Lets identify them one by one 1. Prior trend :- The most important thing one should confirm is the existance of previous trend, cause if there is no identifiable previous trend then how can the price form a trend continuation pattern. As in bharat forge there is a good bullish prior up trend. * on chart marked as Major up trend. 2.Correction:- The Stock should give a opposite move in the trend with low volumes and the range of movement should be narrow. the tighter the range the better it is. This correction should not break any major lows in the previous up trend. As in Bharat forge the corection is in form of channel and its on low volumes. 3.Confirmation signals:- some basic confirmation signals are (a.) Strong breakouts on small time-frame (b.) Volume picking up. (c.) Big momentum candels. As in Bharat forge formed a strong resistance at 850, the price is unable to break this level from last 1 year in 3 attempts. on 31-10-2022 it formed a Ranging candle and created a rally base rally power pattern and move above 850 can give a strong break out for a positional target of 1000+ One can hold with a stop loss of 789 and do trail the stoploss with favorable movement. Hope you like this Idea. please like and comment. Thanks for reading. Keep learning, Happy trading.
NSE:BHARATFORGLong
by SANJAYPATIDAR_
PEL ||15-12-2022||SWING AND SHORT TERMI AM NOT SEBI registered advisor please consult financial advisor for your investment. This is only for educational purpose you can also share your thoughts on the comments \\Representation: **Green dotted line--Supportive line **Red dotted line--Resistance line **Black up and down arrow--touches of support and resistance line **cmp:915 In this chart, I can see accumulation zone after bad fall. The Resistance Line was breached with very good candle and retested looks good for long term 100% returns keep following We will grow like healthy society.
NSE:PELLong
by Purushothg19
How to know that a double top or bottom will failHello Everyone as you can see here we have made two lines at the top and two lines at the bottom of the same height and you can see how it worked very well and told you very early that where it could be down and have to be cautious but it doesn't mean that everytime you find something like this you should be cautious at there and ready to exit and take the profit. Hope you get something new to learn if than pls like and follow us thanks bye.
NSE:PELEducation
by UKnowN_ThE
6
Clean Science Cmp 1524 dated 18-11-2022 BOTTOM CATCHClean Science Cmp 1524 dated 18-11-2022 BOTTOM CATCH Trading & Investment 1. Reversal from near the Support Line 2. 25 % correction done from recent high, price reversal sign. 3. Volume Rise 4. RSI BO & GOOD RRR Buy @ CMP for target 1560-1625-1695-1740-1790 SL 1475 Fundamental Points : 1. Debt Free Company. 2. Promoters, FII's & DII's altogether has 77.50 % holdings. (Strong Hands). 3.Company has a good return on equity (ROE) track record: 3 Years ROE 40.4% 4.Company has delivered good profit growth of 37.3% CAGR over last 5 years Disclaimer : I am not a Sebi registered Analyst so please do your own Analysis before taking any action. The above view is shared just for educational purpose. By no means shall be responsible for any losses amounting out of it incase if any trades on it. It is just a view, pls trade at your own risk.
NSE:CLEANLong
by SHEETAL_UDESHI
2