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Dixon Technology Breakout on the Daily Chart!Dixon Technology has given a clear breakout from a bookish ascending triangle on the daily chart. It is important to notice how beautifully the stock has retested the supply zone or resistance multiple times and then given a clear breakout. When a stock tests a zone or level multiple times, the zone becomes weak and hence it is highly probable that it may give a breakout. Also, it is easy to note that the sellers became weak as the price was approaching the resistance. Will Dixon touch 20,000 levels , once again this year? Let me know by leaving your comments below.
NSE:DIXON
by anusuabose92
REC Ltd. GEARING UP FOR A BREAKOUT! 15th Jul 2021Supply Zone is one from where extreme sell off happens . It's a zone where the sellers are extremely strong , defeating the buyers and pull the prices down. On this chart , we can see that here has been an extreme sell off from the supply zone , on two instances . This is third time , the price is approaching the Supply Zone/Resistance again with weak sellers. The Supply zone can be considered as a strong brick wall, which doesn't break when hit for the first time / second time. However, generally after 2-3 attempts later, when the same zone is hit multiple times , it becomes weak and hence the brick wall breaks and price gives a breakout. One may observe how the sellers keep getting weaker and weaker at every subsequent retest of the zone. Keep a check on Rec Ltd. in the coming days, any breakout with good volumes , may mean that one can go long !
NSE:RECLTDLong
by anusuabose92
TECH MAHINDRA MAY BREAKOUT OF THE RESISTANCE SOON!!Tech Mahindra , one of the IT giants , may move up soon and break the resistance level. It has retested the resistance or the supply zone multiple times, now when there is a breakout of this zone and if it is supported by big volumes , one may go long . Also, we find a bullish marubozu candle near the supply zone which indicates that buyers are strong , but one should wait for volume confirmation and then take position . The most conservative target would be 1109 level.
NSE:TECHMLong
by anusuabose92
ASPINWALL - Explained my thought process💲💲 FOLLOW me @Averoy_Apoorv_Analysis and get these free analysis :) 💲💲 🔰Storytime : This stock from 28dec till 20 may create a good channel pattern, which was contracting and consolidating. With a BO on 4 march of inverted HnS or triangle pattern, anything is ok. gave 30% in 2 days. Means stock BO is a mover fast one :) just have to catch them. On 15 march stock came back to its original channel coz of breakdown and again respected the channels support line on 19 march + a good pin bar on 6 May = bullish. On 12 May the stock tried to Break the pattern again but gave a super bearish hammer. So basically it does not want to go down either up = range bounded. on 20 may the stock again pop out of the channel and finally ready to go up, but the candle is again indecisive. To date, the stock is above that channel contraction pattern = good support now from those levels. Also on 16th June, it gave a good BO but still a rising resistance trendline is there to hold it back, if in some days including today it breaks this line (the yellow one) amazing north move. 🔰 {Some info about me} ➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all. ➼I hope you will love my simple analysis style. ➼Feel free to suggest your view on this as learning is earning here :) ➼I take my trades on my Zerodha account :) ➼These charts are my and only my work, my thought process, just from an educational point of view and no calls. <<<<<>>>>>
NSE:ASPINWALLLong
by Averoy_Apoorv_Analysis
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