Rising channel chart pattern
Buy at CMP- 132 or at 129
Target- 147, 149
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Finolex 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...
ITC 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.
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....
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...
Next few target levels of Cadila, I have drawn rising expanding channel with wave counts. I am really excited for upcoming news. Cipla and Cadila were the two picks from me since the starting of this COVID Era, I knew their capabilities. I expect some consolidation in the stock, till 540-550 and it will be a good buy.
TCS breaking out of a triangle and the price is moving in a rising channel.
Go long as per your risk appetite and capital management.
Buying breakouts offers a poor risk-reward ratio. So it's better to look for a suitable risk-reward before trading.