LONG Tanla SolutionsLooking at the Monthly charts of TANLA SOLUTIONS, it has given a Breakout after a 10 year consolidation period. Can be accumulated near the 85-100 level. SL should be maintained at 65 on the EOD closing basis. This is a positional view. If the SL is respected the target for this trade is around 220-250. Respect the risk management first before entering the stock.
Reversal
## Nifty chart ## learning chartCheck out this chart. why nifty reversed today. so many resistances were coinciding at the same spot. first 200ema is an important level.the trendline is also at the same level. also if you plot finonacci levels u will find 61.8% retracement level at the same spot. so many resistances are at the same level. so a strong resistance is at the level. now need to check if bulls can hold the reversal or bears overpower them.
NIFTYToday's weak opening and recovery so far looks similar to the lower circuit and recovery on March 12, 2020, we know what followed next. BOTTOMS are RARELY made in V shape. They consolidate before gaining momentum. Intra day and stock specific would be a different matter, else let the mayhem fizzle out then look for reversals. Resistance at 9800.
Bearish Bat - Nifty 50Bearish bat appearing in Nifty 50. Price already entered PRZ.
R2 Around 9550. We need to look for signs of reversals (if any) between 9480 and 9550.
Trade only if strong signal bar appears as currently Nifty trading in a strong bullish momentum.
** Study only for educational purposes, do your own risk assessment before trading **
3 Drive at bottom with Divergence REVERSALBank Nifty has clearly formed the 3 Drive at bottom pattern and showing Divergence. Those who prefer to take risk can put it the index on radar and initiate a long trade.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
just for chart learning this chart is shared how to analyse trend and its possibility to continue its trend or reversal
Inverse Head & Shoulder Pattern BreakoutThis Classical Pattern does not require any explanation. Just posting for my friends to take the trade accordingly.