The pair was moving in a steep rising wedge pattern from the past 1.5 months. GBPINR, in the previous session, gave a daily close below the lower trend line of the wedge pattern, confirming a breakdown. In doing so, the pair also breached crucial support of 21 days EMA (88.1609). Now, it is susceptible to heavy selling that can take the price to 86.5692. The stop...
Bata has been in a sideways channel on the daily timeframe for quite a while. The stock is approaching the 3rd touch of this channel at the top. The interesting thing about this is, it is approaching the top in a rising wedge formation giving us an idea of a potential dip in the stock. If the stock breaks this small rising wedge formation it has the ability for a...
Rising Wedge pattern observed in BPCL. Pattern looks to have confirmed suggesting a bearish outlook. Target depth of wedge is around 128 points. With confirmation of pattern occurring at 364, Target of the pattern comes in at 236.
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A rising wedge at the verge of breakdown, but with a good support around 950 - 955.
Breaking 950, the stock could seek support around 930, 910.
Below 910 the next stop could be around 870.
Besides, a sell on rise candidate around 995 - 1000; with a SL of 1015.
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I am not responsible for...
The steep rally in AUD/NZD is losing its steam.
It is marked by the formation of rising wedge pattern in the hourly chart.
As expected, it vented a bearish breakout.
Also, the MACD indicators has turned bearish and posits a incrementing bearish momentum.
Hence, we have a bearish view of the counter for the short-term.
We are doing USDJPY Analysis in Daily Time frame
You can keep an Eye on USDJPY it is forming rising channel pattern you can take a trade on the breakout of this pattern.
Note: This is only for Educational Purpose this is not Investment advice.
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Tata Motors has huge probability of falling today. Tschnically Tata Motors is creatingr rising wedge and reached the resistance level. Today if it brokes the resistance level then the stock will increase in the coming days. But it is most unlikely things going to happen, as confirmed by technical indicator ADX. ADX is in decling phase which means stock trend is...
As mentioned in the chart, looking at the level at which Banknifty currently is, there is at long term trendline resistance,a rising wedge which seems to have come to an end and a possible Head and Shoulders pattern in the making.
Would look for shorting opportunities here with a stop few points above 27900 for a target around 26400 and 25600...