Post bottom reversal, the stock has been trading in the Symmetric Triangle in intermediate trend running across weeks. The Triangle was breached with Bullish expectation, and the stock is righ now in tilted rectangle - almost like a flag consolidation amidst a rally. Would be expected to break out and rise with gap.
Once stocks falls in hands of trader. it needs lot of push to break the pattern. Ujaas is such example. People/traders used to buy at around 43 and sell at around 49. As many people started doing it. It formed another resistance at around 46. So some who got it at 50 (e.g. Myself) would avoided it if looked the chart to enter either around 43 or best if it breaks 52.
WOCKPHARMA looks good to go Long at current level. SL : 707 Targets: 725, 730, 740
Relcapital has formed Rectangle channel. It is currently sitting on the resistance line. Long can be initiated with Green line as target.
TVSMOTOR is forming a Rectangle channel. Buy Above 392 Target 1 - 397
Simple classical Channel short trade is possible. Stop Loss above the high made recently and target is open depending upon the patience of the trader however the target of Fib .618 to .786. level seems to reach quite easily.
Rectangle channel in Jetairways. Breakout will result in possible targets - 410, 415,424
Clearly formed pattern with alternate touches both sides. The stock is showing strength although market is in bear grip. One can expect the price in the range of 1110 - 1145.
Hello Good Morning Friends ! Cheer Up... Yes, we do have some trade opportunities in Nifty today. Remember yesterdays Bull flag on 5mins, it appears as rectangular pattern on 15 mins, so if a Gap Up or Nifty open in zone with rectangular breakout to upside will give us real good chance of grabbing 20 points in Nifty till the resistance zone 8840's. Actually, if...
Hexaware Breakdown from rectangle
Yesterday, the price action closed below the rectangle consolidation range that indicated bearishness and weakness in the stock as marked in previous chart of LT. Today, the price action continues the weakness and downward rally, expected to reach out to 1400 levels that is also previous resistance level.
The price action is been ranging from 1516-1460, about range of 60 points for a while and now I could see a cracking or breaking of it that indicates weakness and bearishness. I would suggest to short for now with a stop loss at 1485. Target: 1400
I'm not sure why, we are getting back to back breakout trades today morning, sharing few of those with you. Yet to check Nifty chart, may be we will have breakout there also.We can see from chart how long M_M is within that rectangular range and looking for breakout. It will be positional trade, so breakout also takes time if M_M moves to upside on pullback.We...