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Dalmia Bharat - Double Bottom Chart PatternThe "Double Bottom" pattern is a bullish reversal chart pattern that suggests the end of a downtrend and the beginning of an uptrend. When observed in Dalmia Bharat's stock chart, this pattern indicates a potential increase in the stock's price. It took almost 2 months to complete the pattern. Key Characteristics: Shape: The pattern consists of two distinct troughs at approximately the same price level 1700, resembling a "W" shape. Neckline: The highest point between the two bottoms forms the "neckline." A breakout above this level confirms the pattern. Volume: Volume often decreases during the formation of the pattern and increases on the breakout above the neckline, confirming the bullish reversal. Current Scenario for Dalmia Bharat: Breakout: Dalmia Bharat's stock has already broken out above the neckline, indicating a confirmed bullish reversal. Retest: The stock is currently retesting the neckline, a common occurrence where the price returns to the breakout level to test its new support. Implications: Market Sentiment: The successful retest of the neckline can strengthen the bullish sentiment, suggesting that the previous resistance level has now become support. Entry Point: The retest provides an opportunity for investors to enter a long position at a potentially lower risk, as the new support level is confirmed. Target Price: The target price can often be estimated by measuring the distance from the bottoms to the neckline and projecting it upward from the breakout point. Target level 2000 - 2050 Example: If Dalmia Bharat's double bottom pattern had bottoms at ₹1,700 and a neckline at ₹1,850, the distance is ₹150. Following the breakout, the target price could be around ₹2,000 (₹1,850 + ₹150). In summary, the double bottom pattern in Dalmia Bharat suggests a bullish reversal, and the current retest of the neckline is a critical juncture. If the retest holds, it may present a favorable entry point for investors, reinforcing the likelihood of an upward trend. Regards Arvind Yadav. Cfa Arvind Share Academy
NSE:DALBHARATLong
by Arvind_Share_Academy
BIG Bounce Or Fall? Banknifty Simple Analysis for tomorrowRecap: As mentioned yesterday's analysis Bank nifty started with fake break out after firing 2 strong bullish candle on 15min & then a sudden dip trapped many players. But still strong support 46900 helped saved bulls to reach again for a breakout but failed & BN closed at support 46900. Analysis for Next Day: Bears have started dominating as seen today bulls failed to break 47200-47300 level twice also confirms bears presence more then bulls. Again mentioning bullish presence is strong above 47300. Trend line support has also been broken in last 30 min session today & closed at support. if BN open below 46900 this can be bearshish move. Keep eyes on opening print. Bulls can bounce from daily resistance if gap up opening is seen & for momentum they need to cross 47300. Looks like may be it will a sideways day tomorrow. Support : 46900,46700 Resistance : 47100,47300 Note : Do your own analysis before making any trade decesions.
NSE:BANKNIFTY
by Price_actiontaker14
Automation using TradingView Webhooks, I got hooked on Dhan!Brokers are the last people on earth to whom we would like to give credit. Social media is flooded with posts that say “My broker did not help me square off positions…”, “My broker’s app stuck in between..”, “My broker did not help me login…” etc. I believe 99 out of 100 support tickets they get every day would be problems, glitches, and issues. Being a broker is such a thankless job, even if you are doing okay - their customers would say “They just meet the expectations..” Maybe they should change their name from “brokers” to “platforms”, because when we hear the word broker - we relate it with commissions. It all started in real estate purchases and rentals. If you wish to rent a property, you need to pay 1 month’s rent as brokerage to the person who showed you the apartment. Similarly, the broker in stock trading connects you to the exchange - so that word rhymes with the concept of giving out some money as commissions. My topic today is not about reducing the commissions or abolishing the list of taxes every trader faces, but something about giving credit for a job done well. This list is tracking 128+ brokers in India. Together they handle about 3,24,94,922 active customers. I assume that should be 95% of all traders. The top 10 brokers handle 80% of the customers. The top 20 handles 90%. This means around 108+ brokers handle just 10% of the customers. Every broker has some pros and some cons. Switching from one broker to another is not that easy, so the customer will only do that if the new broker offers something extraordinary - a new tech or a pricing advantage. I am here to talk about one such tech that got me interested - Trade via Charts. @TradingView (TV) is a firm that provides app/web based charting solutions for most of the stocks, indices, currencies, and commodities out there. Most of the brokers provide a free integration with TradingView charts. Even trade from charts is not that new - it was there for quite some time now. @Dhan is one of the first brokers (15th in this list) that provided the TradingView integration via Webhooks. This means if we set some levels on the TV chart, it could place the orders directly on the Dhan app. This means a lot if you are serious about automating your trading plan. All we need to do is set the right levels on the TV charts via price alerts, pass the JSON script, and then set a corresponding order on Dhan app. If the stock/index crosses that price level - the system automatically places the order for you. Dhan made this revolutionary integration and then quietly but suddenly it started gaining a lot of customers. Automated trading will attract the office-goers, self-employed professionals and part-time traders because they can set these levels on the chart and then forget it. This feature will help them take their eyes away from the trading screen and focus on their main job. Lesser screen time for trading combined with a higher focus on their main profession. Lesser screen time also ensures lower stress levels. Sitting in front of the computer monitor for 6 to 7 hours watching the charts is not a child’s play. It not only eats up our energy but often prompts us to over-trade or exit prematurely. This is how I created the price alert. In the message box you need to pass the correct Json as provided by the broker (for sample I have mentioned it as just TESTING..). Once this price alert is correctly set up - it places an order if Nifty50 falls below 18900. All I need to do is create a basket with the items that need to be part of the order. For example, see image below - I created a test basket with name: 111 that will place an order of 1 lot on 18900 PE when Nifty50 falls below 18900 on the TV chart. If you are new to coding or automation - it may take some time to get a grip on what is happening. But once you have done the homework, it should work like a charm. I had no plans to open a Dhan account earlier, but as soon as this feature became stable - I wanted to try it. Now that I have been using it for half a year - I am really loving it. Once I got it working, the speed of placing the order was much better than my manual entries. I saved some slippage costs as well. The important takeaway here is that automation is highly possible, but you need to set the command correctly. Automation is not a tool to help you make profits if you were losing manually. The logic of what should happen and when it should happen should be decided by you, how it will happen is what's getting automated. Also, trading is a tough job. Less than 5% succeed. 99% of trading money deployed ends up in the hands of 1% of traders. The real clue is to get your research worked upon. Work hard to find your edge. If you are employed somewhere, use your spare time or weekends to research. Once you are ready with a good plan - you may be able to deploy this feature. If you get it programmed correctly - it may even give you peace of mind.
NSE:NIFTYEducation
by viswaram
1
WILL RELIANCE RE-TEST 200 EMA WEEKLYReliance stock appears to have breached its rising channel on the weekly time frame, indicating a potential downward trend. However, there is a possibility that the stock may re-test its 200 Weekly Moving Average, which presents a potential buying opportunity for long-term investors. Reliance has historically been a "buy the dip" stock, and investors may consider implementing a systematic investment plan (SIP) to add quantity over time. As with any investment decision, it is important to conduct thorough research and analysis before making any trades.
NSE:RELIANCE
by karuneshBajpai2
3
Morning Mantra, 14th February 2022Good Morning! Once Again on Friday we witnessed a gap down opening in the Market, which happened to continue till the end of the day. Thereby highlighting the importance of the 17,650 level. Where on being unable to cross over it, Nifty clearly took a downturn making a low of 17303, that is around our predicted support level. Hence, we can say that at this crucial time the Market seems to be critically moving within its consolidated range of 17650-17300. Wherein, now we highly need to witness a clear indication from the market about it to either break down or cross over the predicted levels. However, we can presume the mixed pack of corporate results to be responsible for such a consolidation. Besides, we are still with our words to be stock specific and to follow the Cherry Picking strategy here, as a cautious move. Nifty Levels 15580-15800-16200-16350 -16800-17200-17400-17700-17900-18000-18350 Regards, Alok Daiya
NSE:NIFTY
by alokdaiya
LRCX Lam Research and the Semiconductor Chip ShortagesLet`s put this into the context of the Semiconductor Chip Shortages: LRCX Lam Research makes the equipment needed to manufacture new chips. TSM Taiwan Semiconductor is raising its capital equipment budget. Earnings in 4 days! i expect to have solid gains. On 4/16/2021 Credit Suisse Group Boosted Price Target to Outperform ➝ $750.00 91.991B MARKET CAP 0.81% DIVIDEND YIELD 32.23 P/E Ratio This should be a safe bet for the next week. If you are interested to test some amazing BUY and SELL INDICATORS that i use, which give the signal at the opening of a candle, not at the the candle close, like others do, just leave me a message.
NASDAQ:LRCXLong
by TopgOptions
47
TATASTEEL, The following points are confirmation for U-Turn.The following points are confirmation for U-Turn . The volume will decrease if stock wants to change the direction OR, Volume will be average vol. We will see the tail end of last 2 candles after a surge in price (approx. upto 491.8) The currently TATASTEEL is trading in up-tren d, but time-Cycle(iii) is the negatives in time. The previous support can be convert into current resistance 490 nearby . From footprint of the daily chart will give very clear picture of this stock.
NSE:TATASTEELShort
by Trade-Technique
35
Dealing with 4-chart "extensively research" at Reliance price... Volume vs. Price Action: Points to be focus on: Gap (run away type) Invalid Doji (from the left to right Doji is invalid because of low volume compare to previous candle) sequence of tails (sign of existence negativeness) Interruption began to push price upward. Red Alert : sellers will take action on the Red Alert zone 1542 to 1490, and price will T1 as target. Fibonacci Retracement : confluence zone 1353 to 1329 target next target 1250 nearby if sellers will continue. Wave analysis theory ( unconfirmed ): Parallel Channel and Project : T1 -1375 to 1380
NSE:RELIANCE
by Jay_shree
77