We are close to reversal in NiftyNSE:NIFTY is near the trendline from the high made in October last year. Breakout point is around 17800 but it may turn out to be a false breakout, if that happens. RSI is high and when RSI breaks the trendline on closing basis, we might have a confirmed trend reversal which could last for sometime. Exiting longs above 17800 may be a good idea. Keep an eye!
Reversal
KEI INDUSTRIES - WEAKNESS?Evening Star pattern has been formed near Trend Resistance inD1 Timeframe. Evening Star pattern shows a trend reversal if it's formed near resistance. In M30 timeframe, Head and shoulder pattern has been formed. So closing below 1350 may show some weakelness.
Disclaimer :- I'm not a SEBI registered analyst. This are my personal view. Information given is for educational purposes only. Do your own analysis before investing.
Multiple Reversal patterns in Nifty IT !!!As visible on charts CNXIT has given a breakout from multiple reversal patterns
which are Island Reversal, Double Bottom, Inverse Head & Shoulder.
CNXIT has formed double bottom around 26450 along with RSI divergence
and finally given its breakout at 28600.
The index fell with a gap and also reversed with a gap hence, leaving
behind an island and showing an island reversal pattern.
Along, with above two patterns, inverse head & shoulder are also visible
which further conforms to a reversal in the IT sector.
Spice JetWith reducing payables, Spice Jet is out of mess. can see a reversal in chart pattern. #educational purpose only
INVERSE head and shoulder in HINDPETROWe can initiate a long swing trade in hpcl if it gives closing above the levels of 245 forming an inverted head and shoulder pattern.
It's a high dividend paying stock as well so one can think of adding some quantity in the portfolio. A trend reversa NSE:HINDPETRO l could happen.
buy at 31 levels.It is a good stock to invest in and Jefferies has given a target of Rs 100. But Fibonacci levels show that the stock may fall to Rs 31.
$CAD CHF $ possible buy forecast I am looking to buy #CAD CHF# this week,, Expecting an retracement 0.75000 and continuation to the upside. We have confluences with major HEAD AND SHOULDER reversal pattern and price broke major resistance level and closed above with support and creating strong resistance with rejection. thanks.
Nifty 50 1.global sentiment weekly positive
2. war was not end
I was Not clear about nifty for this week
(Chart shows a breakout )
(small Up Trend )
1.IF Tomorrow gap up 5 min or 15 min candle if break the resistance 15720 .. if we can see the price action for buying side and exit at the target price
2.If Open in flat wait for the trend up side or downside Or it may have side ways then take the trade
3.if gap down cross wait For close the 5 min or 15 min candle. see the price action then crossed 15533 buy and wait for the target
Weekly high and low should be mark
when 1st time hit resistance and halt for 1 day or 4 to 5 hour may change the trend .. Monday may gap up it may have chance to up side
Possibility my have on up side (up to previous week swing high)
Note . this just prediction. market can happen anything
BankNifty weekly1.global sentiment weekly positive
2. war was not end
possible for gap up check the price action in charts buy are sell in 15 min time frame
(Chart shows a breakout )
(small Up Trend )
1.IF Tomorrow gap up 5 min or 15 min candle if break the resistance 33776 .. if we can see the price action for buying side and exit at the target price 34339
2.If Open in flat wait for the trend up side or downside Or it may have side ways then take the trade
3.if gap down cross wait For close the 5 min or 15 min candle the crossed 33389 buy and wait for the target
Weekly high and low should be mark
when 1st time hit resistance and halt for 1 day or 4 to 5 hour may change the trend .. Monday may gap up it may have chance to up side
Possibility my have on up side (up to previous week swing high)
Note . this just prediction. market can happen anything
I Don't Know how to insert in pic in the text documents Can any one suggest me
TATA MOTORS DVR - Long term Bullish1. Bull Flag Pattern formed...
2. Long-term Bullish trend
3. When it breaches the resistance will go upward direction... waiting for the market correction.
Note:
1. I’m not a SEBI Registered advisor, my views are personal and for educational purposes only.
2. Always check with your financial advisor and take the trade as per your risk/reward ratio.
3. Follow me for more patterns and like, and share so that we feel it is helpful to many and share more patterns...
Buying Climax: What, Why and HowBuying Climax:
is a situation on the chart that represents ‘exhaustion’. This is the sharpest upward price surge where the last set of buyers enter the stock, thinking that the stock is going to the moon and never look back. This also reflects ‘Greed’ entering in to the stock. Investors who bought at the lower prices, during accumulation, take it as an opportunity to exit from the stock. Therefore, it represents those pre-conditions that lead to price correction.
The climax is associated with very wide range up bars/candles with exceptional volumes, followed by supply in most cases.
I will take up the case of Dr. Reddy with no particular reason but as a good example that just came in front of me and I thought it will be a good idea to share with the trading community what a climactic action looks like.
Dr. Reddy had been in a downtrend between Oct2015 to Aug2017. It then consolidated for more than 2years before it decisively broke out of Rs2800 supply zone in Jan-Feb2020. It retested the supply zone in Mar2020 market correction and held it as a new support.
Thereafter we can observe three major breakouts seen on this weekly chart, which would help us in understanding a buying climax in a better way.
At every breakout you need to observe the range of the breakout candle and the volume involved in the breakout. A good breakout needs a wider candle with a strong closing and good volume. Let us see what happened.
Breakout 1
Range of the candle – 600 pts or around 18%
This seems an average type of range compared to the pre-breakout candles. So nothing alarming here.
Volume –
Slightly higher than the average volumes.
Breakout 2
Range of the candle – 600 pts or around 15%
It’s also an average type of range
Volume –
Is very high, more than any candle in this uptrend since 2020
Breakout 3
Range of the candle – 1160 pts or around 27%
This is exceptionally wide range
Volume –
Exceptionally high (More than 36mn). Not seen anywhere on the chart.
This is buying climax. You can see that, on the very next week, there was extremely high volume on the downside. This further validates that seller have entered the market and the upside could be limited.
We can draw a resistance line from this Sep2020 highs. Price corrected 25% from this resistance in the next 5-6months.
Also observe the Breakout4 (Jun2021) of the resistance (vertical dotted line)
Candle Range – narrow
Candle volume – very low compared to previous breakouts.
This is a weak breakout which could not sustain and is followed by a big supply candle. Further indication that the stock has lost steam.
I hope this idea was helpful.
Do like and comment for more such educational posts in the coming days.
Nifty Spot Weekly Outlook 16th May to 20th May
Falcon Analytics Outlook Nifty 50 for the week ( May 16 – May20 )
Technically on the daily charts we see major support on the downside for Nifty50 index lies at 15560 levels,
whereas major resistance on the upside is capped around 16387 levels.
If Nifty50 index breaches major support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 15304/15049 and and if breaches major resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 16642/16898 .
Currently Nifty50 index is trading Below 200 day EMA @ 16819 suggests long term trend is Bearish .
Falcon Analytics predicts range for the week is seen from 15049 on downside and 16642 on upside.
Below Mentioned Spot Levels can be used to trade Long Or Short during the week ahead.
( All Spot Levels)
RESISTANCE 4: 16898
RESISTANCE 3: 16642
RESISTANCE 2: 16387
RESISTANCE 1: 16229
WEEKLY PIVOT LEVELS: 15973
SUPPORT 1: 15718
SUPPORT 2: 15560
SUPPORT 3: 15304
SUPPORT 4: 15049
All above views for education purpose only.
Regards,
MD .
Nifty PRZ trade plan.Nifty formed a base on 9.5.2022 and has re-tested that base thrice. It gave a good bullish move after that and is trading around previous day high. The overall sentiment and trend of the market is still bearish. Also Nifty has formed a BEARISH DEEP CRAB formation and the PRZ level comes around 16450 . One can take a bearish trade once Nifty touches 16450 with a SL of 16485 on a 15 mins closing basis. The reason for the SL is that 16478 is the SL for the harmonic pattern and 16484 is the high of 6.5.2022. One can keep the the following targets according to Fibonacci :-
T1 - 16404
T2 - 16375
T3 - 16352
ORIENT GREEN POWER CO LTD --- DOUBLE BOTTOM ORIENT GREEN POWER CO LTD- DAILY CHART
1. Trendline breakout seen on daily chart recently
2. Triangle pattern breakout also can seen on chart
3. Double bottom formation seen, where both double bottom candles are hammer candle,
4. After hammer candle last closing candle is bullish green which confirm double bottom and trend reversal to bullish
5. wave trend also seen double bottom formation on oversold line
6. Double Bottom form at 200 SMA support line that is also bullish indication of trend reversal
RISK FACTOR.
* Currently % price band ( 5% circuit limit in NSE/BSE) in such case stock can go either one way parabolic form . stop loss should be strictly placed .. profit booking trailing stop loss method more useful.
BUY ORIENT GREEN POWER CO LTD @ 11.65
TARGET 15-18
stop loss 8
@@ THIS IDEA IS FOR EDUCATIONAL PURPOSE .. trade at own risk
HAPPY TRADING. !!