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TATATECH: Potential Bullish Breakout + Inverse Head & ShoulderBullish Analysis of TATA TECHNOLOGIES LTD Key Observations: 1. Pattern Identified: Inverse Head & Shoulders - The inverse head and shoulders pattern suggests a bullish reversal. 2. Resistance Zone: - The stock is approaching a key resistance zone. - A breakout above this zone could signal a strong upward movement. 3. Target Projections: - If the breakout happens, the first target is set at ₹1,263, followed by ₹1,333. 4. Volume: - Recent volume spikes indicate strong buying interest, supporting the potential breakout. 5. RSI: - Currently at 60.91, it indicates strength, but still below the overbought zone, allowing room for upward movement. Conclusion: - Entry Point: A breakout above ₹1,093 can be a bullish signal. - Targets: ₹1,263, ₹1,333. - Risk: Watch for failure to break the resistance zone, which may signal a short-term pullback. Follow us for STOP-LOSS updates. Note: Always consider risk management and market conditions before making investment decisions.
NSE:TATATECHLong
by Pattern_Ninja
IREDA Analysis!NSE:IREDA Analysis on a Daily Timeframe! Triangle Pattern Formation in IREDA! Triangle Pattern Breakout in IREDA! Analysis: As we can see the stock in moving in a triangle since December 2023. It was continuously consolidating in it. On 27th June it tried breaking out the resistance but unable to sustain above the resistance. Today again it has been successfully given the breakout and able to close above the breakout. As i marked all the important levels on the chart please have a look. Trade Setup: Entry = Current price level is good to Enter Key Level = 214.80 This is the All Time High Level, Price may reverse from this level but if it breaks, will the major uptrend Target = 455.85 Stop Loss = Below 173 or as per your Risk To Reward Disclaimer = Consider my analysis for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your research and analysis 3) Define your Risk to Reward ratio 4) Don't trade with full capital
NSE:IREDALong
by Avinash9087
4
Price Action and Elliott Wave Harmony Case Study Hello Friends, Here is a technical case study of RANE HOLDINGS LTD. Possible Elliott wave structure Price journey is like a story told in waves. Imagine it like a roller coaster ride. It started from a small point around 40 and climbed all the way up to a super high point at 2799. This upward journey is what we call "Wave (1)." It's like the thrilling part of the ride when you're going up. After that exciting climb, the stock took a break and dipped down to 280. We call this the "Wave (2)." It's like when the roller coaster slows down for a bit before it goes up again. What's Happening Now Right now, it looks like the stock is starting another exciting climb, which we might call "Wave (3)." In roller coaster terms, this is like the part where it goes even higher and faster. It's often the most thrilling part of the ride. Inside this "Wave (3)," there can be smaller ups and downs, like little bumps in the roller coaster track. We call these "subdivisions." They can give us more details about what's happening in the ride. Historical Correction and MACD Bullish Divergence RANE HOLDINGS LTD has a remarkable history. It reached its all-time high of 2799 in March 2018 but then experienced a significant correction, plummeting to a low of 280 in March 2020. This correction marked a staggering decline of almost 90% from its peak. Such corrections often provide an opportunity for a potential turnaround. During this challenging period, the stock exhibited a promising sign with a MACD Bullish Divergence. A MACD Bullish Divergence occurs when the stock's price makes lower lows, but the MACD indicator forms higher lows. This is a potential reversal signal, indicating that the selling pressure may have weakened, and bullish momentum could be building. Current Trading at 1200 recovered from 280 As of now, RANE HOLDINGS LTD is trading at 1200. The presence of a MACD Bullish Divergence and the stock's recovery from the lower levels indicate a shift in sentiment and a potential bullish outlook. Recent Breakouts and Support Levels In addition to the historical correction and bullish divergence, the stock has shown recent positive price action. It has successfully broken out of a horizontal resistance level on the weekly timeframe. What's even more significant is that the stock retested this same level, suggesting that the previous resistance has now transformed into support. This is often considered a strong technical signal. Also the breakout was accompanied by a good intensity of volume, indicating significant market participation and conviction among traders and investors. This increase in volume reinforces the significance of the breakout. MACD Positive Crossover In conjunction with the breakout and support transformation, the Moving Average Convergence Divergence (MACD) indicator also exhibited a positive crossover in the weekly timeframe. This crossover reinforces the bullish sentiment, aligning with the price action. Key Takeaways Elliott wave structure suggesting impulsive move towards north may be reach new all time highs with invalidation level of 280, for Long term period. The stock experienced a substantial correction, falling almost 90% from its all-time high. A MACD Bullish Divergence formed during the correction, suggesting a potential reversal in the downtrend. The stock is currently trading at 1200, indicating a recovery and possible bullish momentum. Recent breakouts and support transformation, along with strong volume, suggest further upside potential. The question is will it touch again previous all time highs ? I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:RANEHOLDINLong
by RK_Chaarts
3