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CarTrade Tech- CnH FnP. Keep on Radar📊 CarTrade Tech - Technical Analysis 🚗 Reason for Picking This Stock: CarTrade Tech has been in an uptrend since March 2023, trading within a rising channel. The stock tends to take support near the 50 DMA and the channel bottom, showcasing strong demand in those areas. ✨ Key Highlights: 1️⃣ Breakout from 3.5-Year Resistance: The stock has broken above a significant 3.5-year-old resistance level of ₹1,622.85 and gave a weekly closing above it. 2️⃣ Chart Patterns: Cup and Handle (CnH) formation near the 3.5-year resistance. Flag and Pole (FnP) pattern adds conviction to the breakout. 3️⃣ No Overhead Resistance: The left side of the chart shows no major resistance, providing room for upside movement. 4️⃣ Relative Strength in Market Correction: The stock has held strong during the broader market correction. 🎯 Trading Levels & Risk-Reward (R:R): Entry: ₹1,835 Stop Loss (Closing Basis): ₹1,514 Positional Target: ₹2,543 SL %: 17.5% R:R: 1:2 📌 How to Trade: ✅ Wait for Confirmation: A clear breakout with volume and a wide-range candle will strengthen the setup. ✅ Small Position Size: As the market trend is bearish, trade with reduced risk. ✅ Pullback Entry: Look for a pullback to the 50 DMA region or channel bottom for better risk-reward entries. ✅ Add on Base Formation: If the stock consolidates above the breakout level and breaks out again, consider this as a further entry point. ⚠️ Risk Considerations: 🚨 The broader market is trading well below the 50 DMA and 200 DMA, with a death cross in play. Committing large capital at this point may not be advisable. 🚨 This is a pure technical call on a fundamentally weak company. Perform your own due diligence before trading. 💡 Key Points to Watch: 1️⃣ Clear breakout from the Flag and Pole (FnP) and Cup and Handle (CnH) patterns. 2️⃣ The channel top may act as a resistance, so monitor price action near those levels. 3️⃣ Broader market stabilization above the 200 DMA and 50 DMA is crucial for larger capital deployment. 🚦 Final Thoughts: CarTrade Tech is showing relative strength in a falling market—a key factor for stock selection during corrections. The intention is to highlight opportunities in stocks performing well despite broader market weakness. Trade cautiously and stick to strict risk management. 💪 and do not wait for target to be achieved in this market condition. Try to book partial and trail SL. 📉 Disclaimer: This analysis is for educational purposes only and not financial advice. Always consult your financial advisor before making any trading decisions.
NSE:CARTRADELong
by sagartharayil
Kamat Hotels - Bullish Breakout with Massive VolumeKamat Hotels - Bullish Breakout with Massive Volume 🚀 📊 Timeframe: Daily Trade Setup 🔹 Entry Level: ₹273.20 🔹 Stop Loss (SL): ₹226.11 (~17.23% below entry) 🔹 Target Levels: T1 (Pivot High of April 2024): ₹315.45 (+15.46%) 🟢 T2 (Positional Target - ATH): ₹374.00 (+36.93%) 🏆 Risk-to-Reward Ratio (R:R): R:R for T1: 0.89 R:R for T2: 2.14 Technical Highlights 🔥 Volume Spike: Breakout supported by 4-5x higher volumes than recent sessions. Volume is the key reason for this suggestion. 📈 Price Journey: The stock started its upward journey in March 2020, slowly rising while trading inside a channel. Made a peak (ATH) in January 2024, followed by a sharp fall. After the fall, the stock formed a base and consolidated, leading to the current breakout. 📈 Resistance Levels: Immediate Resistance: ₹292.45 (Pivot High from May 2024 – 8 months ago). Target 1: ₹315.45 (April 2024 Pivot High). 🌟 Candle Analysis: Strong, clean candle with no upper shadow, showing bullish strength. 📊 Trend Consideration: While technically bullish, keep in mind this is against the broader trend, which increases the risk of failure. 💡 Pyramiding Opportunity: Consider adding positions gradually (pyramiding) on follow-through price action. Fundamental Perspective ⚠️ Fundamentals: Nothing extraordinary here; this is purely a technical trade driven by a volume-backed breakout. Actionable Advice & Risks 🔍 Wait and Watch: Look for follow-through price action before committing significant capital. ⚡ Sharp Retracement Risk: Breakouts can often retrace sharply, especially against the trend. Consider adding only small quantities or trade according to your risk appetite. ❗ Trend Risk: 2 out of 3 trades fail if the market sentiment turns bearish, so trade cautiously when going against the prevailing trend. Disclaimer This idea is for educational purposes only and is not financial advice. Please consult your financial advisor and trade according to your risk tolerance. Summary: The stock shows a technically strong breakout, supported by massive volume, and has been gradually rising since March 2020, trading inside a channel. It made an ATH in January 2024, followed by a sharp fall, formed a base, and consolidated before breaking out. Immediate resistance lies at ₹292.45, followed by T1 at ₹315.45, and positional traders can aim for the ATH of ₹374. While fundamentals are not strong, the volume-backed breakout and clean price action make this a compelling technical setup. Be cautious of retracements and manage your risk effectively.
NSE:KAMATHOTELLong
by sagartharayil
Rising Channel Respecting 50 EMA Breaking Crucial LevelsNSE:SHAILY is Breaking Crucial Levels on Daily Charts Respecting the 50 EMA in a Rising Channel Formation with Volumes Significantly Increasing. Keep in Watchlist. Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
NSE:SHAILYLong
by Karanshah137
SUNDARAM FINANCE - RISING WEDGE SINCE AN YR Hi All, This idea is about Sundaram Finance Holding Fundamentals Market Cap - 6k Cr Mkt Cap/Sales - 20.9 ROE - 12% P/BV - 1.27 Div Yield - 2.81% Technicals Price action has been in a rising wedge pattern since Jul 23 & currently consolidating at the bottom of channel for past few days. It can give a upmove of nearly 25% in very short term. Traders can take positional trades to capture the move. There is a small resistance for which traders need to be careful. Price reverted twice from that level SL will be lower channel breach Hope for a successful trade, Thanks, Stock-n-Shine
NSE:SUNDARMHLDLong
by Stock-n-Shine
Finolex cables case studyFinolex Cable spot CMP : 455 Study :- Price action + chart patterns + Elliot wave Time Frame :- Daily There is Rising channel formation, currently price is around the demand line of long term structure, on smaller range of time frame there is formation of symmetrical triangle formation, which have demand line around current levels. so there are 2 structure formation as per chart patterns and both have demand levels around current levels. confluence of demand levels gives more confirmation of reversal. Counter have demand zone as per price action, which can be considered as a retest of previous break out levels, demand zone is marked on the chart which almost confluence with the demand levels of chart pattern structure. Elliot wave formation :- counter at present look to be in corrective wave 4 of impulse phase and is about to mature, if major wave 4 matures and major wave 5 unfolds for the demand zone reversal can be seen and much higher level possible as per calculation of major wave 5 maturity.
NSE:FINCABLES
by RUDRA007
ITC case studyITC bearish case study. Rising channel formation with resistance line around 270 levels. Bearish crab pattern formation with prz around 263-270. Elliot wave formation with impulse phase maturity around 272 levels RSI divergence between last two swing high ,, Taking all to gather 263-272 stiff resistance zone,, view gets violated above 277 levels. Counter made entry in resistance zone Not able to sustain and slips down,, First target zones of 240-246 and below 240 Second targets levels of 218-221
NSE:ITC
by RUDRA007
7
PNB - Buy Positional Trade - 3 Rising Valleys Pattern Target 55 Scrip : PNB Setup: 3 Rising Valleys Pattern, Rising Channel, Chikou Span in open space and PSU bank Index giving breakout above 2 years levels Target 1 - 55 Risk: Slightly Risky Trade as PSU bank Stoploss: Please determine, manage and adhere to your stoplosses as per your risk profile and appetite. A close below 35 could be a determined as a Stoploss level. Also note, I am not a SEBI Registered Analyst or a Financial Advisor. Please initiate trades as per your knowledge and risk profile.
NSE:PNBLong
by BeingNick
4
WHAT IS A CHANNEL PATTERN ?CHANNEL PATTERN :- It is nothing but a formation of two almost parallel lines between which the stock oscillates. Channel can be of 3 types : 1) Horizontal Channel 2) Rising Channel 3) Falling Channel It is a constant fight between bears and the bulls and victory is decided by the breakout or breakdown of the channel pattern. Bulls wins the fight if breakout occurs , bears wins the fight if breakdown occurs. When fight is over, the stop loss of other team is hit hence we can see a very strong move after the breakout or a breakdown. I have explained everything on the chart itself but here is one tricky point which i would like to again repeat. :- When a stock fails to touch the either of the line , there is a possible chance of breakout on the opposite side. ( as clearly seen in the chart breakout took place on above side when stock didn't touched the support line ) In above scenario bulls were more strong as they didn't let the stock move towards the support line, bears lose hope and finally breakout took place. Another secret point i would like to share with you all :- When stock gives a fakeout (breakout + moving back into the channel ) there is a possible chance of breakdown on the opposite side. and When stock gives a fakedown (breakdown + moving back into the channel ) there is a possible chance of breakout on the opposite side. I have shared many channel pattern stocks in my previous analysis , feel free to watch them for better understanding.
NSE:INDIGOEducation
by headymuk
59
Rising Channel movement, Higher High Higher Low Structure.IEX is moving in rising channel. It evident from volumes at lower end of the supports that stock has taken support at lower end of the channel. Keep SL below the current swing low at 385 levels. Final Target will be upper end of the line around 470 levels. Partial profit booking level around 438. After that either book partial profit and hold balance with CTC SL or hold full quantity with CTC SL. Overall the Reward at final Target is around 3 times the risk. Will review at all mentioned levels, if it shows strength at 470 levels will look for 520 by making the trade risk free. Note channel is drawn based on line charts, if you draw on candle stick charts trend lines will pass through the candles. Line charts remove noise and give clear chart. Technical Analysis is not solely candle stick, there are other types too.
NSE:IEXLong
by varadtambolkar
4