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Rising Wedge

MINDTREE (Daily) | Rising WedgeA 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. The charts posted by me are only for learning and not for trading purposes! I am not responsible for any trade action taken by anyone whomsoever on the basis of the views published! I am not a certified Technical Analyst or SEBI Registered Investment/Trade Advisor!
MShort
by gr.sanjeevkumar
TATA MOTORS SHORT TODAYTata 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 very weak and soon breakout So today you can short Tata Motors Short around 180 Target 175 Stoploss 186
BSE:TATAMOTORSShort
by Anshulamrit
Banknifty - At confluence of ResistancesAs 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 levels. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:BANKNIFTYShort
by nano6yogesh
Rising Wedge Breakout - As a Continuation Pattern - RR 1 : 3.90MGL sell Below 834.60 Stoploss - 855 Target - 756 Risk - 2.42% & Reward 9.42% RR Ratio 1 : 3.90 Reversal or Continuation Pattern Rising Wedge Prices are moving upward, forming higher highs and higher lows, but the price is confined within two lines which get closer together to create a pattern. This indicates a slowing of momentum and it usually precedes a reversal to the downside. This means that you can look for potential selling opportunities.
NSE:MGLShort
by Equity-Earningz
Rising Wedge Breakout - Continuation Pattern - Risk Reward 1: 3Short Bajajfinsv Below 5550 Stop-loss: 5745 Target 1: 5160 Target 2: 4955 Risk 3.50% & Reward 10.75 % RR Ratio - 1: 3 RR is Calculated on 2nd Target. Reversal or Continuation Pattern Rising Wedge Prices are moving upward, forming higher highs and higher lows, but the price is confined within two lines which get closer together to create a pattern. This indicates a slowing of momentum and it usually precedes a reversal to the downside. This means that you can look for potential selling opportunities.
NSE:BAJAJFINSVShort
by Equity-Earningz
RISING WEDGE PATTERN ( REVERSAL OR CONTINUATION )Reversal or Continuation Pattern Rising Wedge Prices are moving upward, forming higher highs and higher lows, but the price is confined within two lines which get closer together to create a pattern. This indicates a slowing of momentum and it usually precedes a reversal to the downside. This means that you can look for potential selling opportunities. IDENTIFICATION GUIDELINES 1. The Shape of The Rising wedge – Two price trendlines both sloping upwards, the upper one following higher highs and the lower one following higher lows. Both trendlines must slope upwards and eventually intersect. 2. Formation of The Rising Wedge – Prices should rise to hit the upper trendline at least three highs(1-3-5), then fall away. Prices should fall to the lower trendline at least twice(2-4), then rise again before a final breakout. When you see less than 3 swing highs and 2 swing lows between the upsloping trendlines, be cautious about it. 3. Duration of The Rising wedge- The Rising Wedge has a minimum duration of 3 weeks and it rarely exceeds 3 or 4 months long. Anything less than 3 weeks of duration likely to be a pennant formation, not a rising wedge. 4. Volume inside The Rising Wedge – Volumes tends to be decreasing through the formation. 5. Pre-mature or False Breakout – Because volume is usually low in The Rising Wedge formation, it takes very little activity to bring about an erratic and false movement in price, talking the price outside of trendlines. 6. Breakout – Price closing below the lower rising trendline confirms the breakout. HOW TO TRADE A RISING WEDGE Trading Rules. 1. Entry – Sell short the stock day after Prices closing below the lower rising trendline. If you miss it, wait for the pullback then short when price resumes the breakout direction after the throwback completes. When you missed and, If you Don’t Get A pullback to the lower rising trendline then Don’t Chase The Stock Price for selling short. 2. Price Target – The technical target is the price which was a starting point of the lower rising trendline. 3. Taking Profit – For short-term traders, cover short when the price reaches near to the price which was a starting point for the lowe rising trendline. For intermediate and long-term traders, hold the stock as per your risk & capital management applied before entering into a trade. 4. Stoploss – usually, price closing above swing high or top is a stop-loss. But very often, The gap between swing high and breakout price is very high. So it won’t be suitable for a good risk-reward ratio. Without a Good Risk to Reward ratio in trading or investing can never create a wealth. Always Pay close attention to Risk-Reward Ratio. We must have RR above 1: 2.
NSE:NIFTYEducation
by Equity-Earningz