RUSHIL DECOR - Swing Trade Analysis - 3rd August #stocksRUSHIL DECOR (1W TF) - Swing Trade Analysis given on 3rd August, 2024
Pattern: SYMMETRICAL TRIANGLE BREAKOUT
- Weekly Resistance Trendline Breakout & Retest - Done ✓
- Strong Pullback candle after retest - Done ✓
- Demand Zone Retest & Consolidation (for a small SL and a better RR) - In Progress
Please Note:
- There is a stock split expected on the 9th of August
- Only working on the momentum for this trade
* Disclaimer
Rushildecor
RUSHIL DECOR - Price analysis & Observation1. Consolidating as of now.
2. Above 450 I will be interested.
3. Moves can slow and choppy. (Not a momentum trade)
4. Results are weak.
5. Decent volume spikes means this can be a good accumulation zone.
- Stay tuned for further insights, updates and trade safely!
- If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading!
Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing.
Thanks & Regards,
Anubrata Ray
Double Bottom & Head and Shoulders Bottom PatternRushil Decor Ltd.
Daily Chart showing Double Bottom & Head and Shoulders Bottom Pattern Formation
Double Bottom Pattern
The price seems to have reached a bottom after failing to break through a support level and ultimately rising higher in a sign of reversal to a new uptrend.
The Double Bottom pattern forms during a downtrend as the price reaches two distinct lows at roughly the same price level.
Head and Shoulders Bottom Pattern
The price seems to have reached the end of a period of "accumulation" at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend.
The Head and Shoulders Bottom is created by three successive declines in the price following a significant downtrend.
Note for everyone who came across this reference:
This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade.
