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Reversalpattern

Indiabulls Housing Finance - Long Term Buy ?The Stock has been in a downward spiral for many months. It has created a descending channel on the daily chart as well as another small descending channel inside the bigger descending. 3 touches of a pattern indicate pattern completion. Here both the descending channels have completed their respective 3rd touches at the same point. We have also a Morning Star candle shape formation at this low. This is a stock to buy and hold for the coming weeks or months. The Levels are indicated on the Chart. Technical Overview - Buy and Hold Timeframe - Daily Disclaimer This content is for information and educational purposes only and should not be considered as a piece of investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital which you are prepared to lose.
ILong
by PranamGhagare
Axis Bank | Double Top patternAxis Bank had been on a good bull run tracing a rising channel. Strength in bulls looks to have lost steam where it couldn't make new highs. Right now, looking at the chart we could identify a Double top pattern with neck level at 760. Yesterday's close below the neck level has confirmed the pattern and it would be right to take bear bias. However do look for a retracement for better entry to manage risk-reward. Target according to the pattern comes in at 700. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:AXISBANKShort
by AkhilSuryaFS
1
ICICI Bank | Head & Shoulder and Bear Flag observedICICI Bank chart exhibiting two chart patterns, both indicating bearish bias. One is Bear flag pattern which imply bearish continuation and the other is Head & Shoulder pattern which illustrates prior trend reversal. Do notice a rising trendline as it may have some significance. Bear flag pattern is valid as the price has cracked below 428.75. Considering that pole of flag begins at around 440, the target depth as per pattern will be around 15 points i.e at 413.50 Head & Shoulder pattern has not been confirmed yet as price has not breached 424.60 i.e. neck level. Once price closes below neck level (eventually it should as indicated by bear flag) the stock could fall to 406.80. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:ICICIBANK
by AkhilSuryaFS
2
Maruti | Inverted Head & ShoulderInverted Head & Shoulder pattern observed in Maruti. Pattern is confirmed as price has broken above 6045. Pattern suggests a target of 6190. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:MARUTI
by AkhilSuryaFS
2
Did you sell Ultratech?What and where you could have sold it? In intraday time frame we had a bearish divergence as marked with an arrow. Once it fell from the top 4707 and made a bearish divergence we had chance to sell, but what would be the sl? That would be the high of today. What would be safe entry ? After 1 hour of bearish candle reversal, we could have sold near bounce at 4670 with Sl 4707, now is divergence in intraday tf reliable for such big fall? Yes, if you know price action. Let us see how we predicted this move --> Here we predicted for upmove --> Here we predicted overall rough picture --> Regards, Sharma Yogesh
NSE:ULTRACEMCOEducation
by yogi_sharma_elliottician
Tata Steel | Double TopDouble Top pattern spotted in Tata Steel . Pattern is confirmed as price has broken below 500; neck level retesting looks to have done already. Pattern suggests a target of 485. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:TATASTEEL
by AkhilSuryaFS
Tata Chemicals | Double Bottom - WeeklyDouble Bottom pattern observed in Tata Chemicals. Neck level was broken in second week of May thereby confirming the pattern. The recent fall could be counted as neck level retesting. In that case the stock will move up to 672 where the pattern target falls. However, a trendline still holds and we could see noticeable resistances at 635 and 658. A break above 635 will be key. Hence, if resistance at 635 fails Tata Chemicals could move swiftly towards double bottom target. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:TATACHEM
by AkhilSuryaFS
LONG in MINDTREE on NSE (INDIA)This is weekly chart of MINDTREE (CMP @ 834.60) on NSE (INDIA) which looks good for a long trade based on following observations on the chart: 1. A horizontal line drawn on the chart has acted as resistance during April 2015 to Jan 2018 till price broke out of it on 19th Feb 2018 (marked by arrows). Now, the resistance line has turned into support as indicated on the chart. Price after deep correction has once again tested this support and showing reversal. This support line also coincides with key retracement level of 50% on Fibo as shown on the chart. 2. Stochastic RSI indicates bullish crossover in oversold zone. Therefore, it looks a good long trade with stop below the current candle on weekly chart with immediate target of 935 (resistance above). Happy Trading....
MLong
by DEVERAMA
LONG in KOTAKBANK on NSE (INDIA)This is daily chart of KOTAKBANK (CMP : 1132.15) on NSE (INDIA). In my opinion, it's a good opportunity for a long trade. Opinion is based on following observations on the chart: 1. Support zone has been marked on the chart which is indicated by multiple supports/resistances using arrows. 2. Trendline drawn on the chart has been tested several times (marked by arrows) 3. Bullish kicker has been formed on 2nd Nov 2018 after testing support accompanied with substantial rise in volume which is a strong reversal sign. 4. RSI has taken several supports at 40 and this time also, it shows reversal from 40 accompanied with bullish kicker as mentioned in preceding point no. 3. In view of above, it could be a long trade with Stop @ 1198 (below swing low) and immediate target could be 1180 (forthcoming resistance) Happy trading....Your view points are valuable in cross learning.....
NSE:KOTAKBANKLong
by DEVERAMA