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Bearish Engulfing in Maruti: Bounce or Selloff Ahead ?What happened today The daily candle is a strong bearish engulfing—today’s real body fully engulfed yesterday’s real body. That shows aggressive supply stepping in and a potential short-term reversal after the prior advance. Today’s high ₹15,250 is your invalidation: as long as the price stays below this, the bearish setup remains active. What confirms the signal tomorrow A follow-through (confirmation) candle that closes below today’s low and ideally on above-average volume. Bonus confirmation if intraday retests of the engulfing body’s mid-point get sold into (upper wicks, weak closes). Downside roadmap if confirmed A confirmed breakdown increases odds of a slide toward ₹13,600 (prior demand/congestion) and then ₹13,000 (major psychological level / deeper demand). Momentum often accelerates after an engulfing + follow-through combo; expect lower highs, weak bounces, and moving-average rollovers on shorter timeframes. Risk management / trade plan (discipline first) Trigger: Consider shorts only after confirmation—i.e., sustained trade below today’s low; avoid pre-empting if price gaps up and holds. Stop: Above ₹15,250 (setup invalidation) or above the confirmation candle’s high if that’s tighter and still logical. Targets: T1 ₹13,600, T2 ₹13,000; trail stops on lower highs to lock gains. Avoid traps: A close back inside/above half of today’s body without follow-through weakens the signal; a decisive close above ₹15,250 invalidates the view. Bottom line Bearish engulfing sets the stage; a confirmation candle tomorrow is key. If it comes, ₹13,600 → ₹13,000 opens up. If not—and especially if ₹15,250 is reclaimed—the bearish thesis is off.
NSE:MARUTIShort
by ChartsBySachin
Maruti’s Bearish Engulfing – Will We Get Confirmation?Maruti has formed a bearish engulfing candle on the daily chart today, which is a strong reversal signal when it appears after a rally. This pattern suggests that sellers have overpowered buyers. ⚖️ Importance of Confirmation A bearish engulfing pattern requires a confirmation candle (a red follow-through candle on the next day) to validate the setup. We’ve seen this before: on 4th September, Maruti also formed a bearish engulfing, but on 5th September, the follow-up candle was missing, which invalidated the bearish setup at that time. Hence, waiting for tomorrow’s confirmation is crucial to avoid a false signal. ✅ Key Levels & Targets If we get the confirmation candle tomorrow, then downside levels of ₹14,600 → ₹13,600 → ₹12,900 could unfold in the short to medium term. On the flip side, if no confirmation comes, the pattern may fail just like in early September, and the stock could remain range-bound or resume upward momentum.
NSE:MARUTIShort
by ChartsBySachin
SBICARD at Key Level: Watch ₹780 Support, ₹830 BreakoutSBICARD is currently displaying a double bottom pattern on the daily chart — a bullish reversal setup that typically forms after a downtrend. This pattern signals that the stock is attempting to establish a strong base and could be preparing for an upward move. ⚖️ Key Levels to Watch Support Zone: As long as SBICARD holds above ₹780, the structure remains strong and the pattern is valid. A breakdown below this level could weaken the setup. Breakout Confirmation: A closing above ₹830 will serve as bullish confirmation of the double bottom breakout. Upside Targets: Once confirmed, the stock has potential to rally toward ₹860–880 levels in the short term. ✅ Summary In short, SBICARD is in a consolidation phase, attempting to break out from a double bottom. Holding above ₹780 keeps the bullish bias intact, while a breakout above ₹830 can trigger the next leg higher.
NSE:SBICARDLong
by ChartsBySachin
NVDA Breaks Trendline, Eyes $155–150 SupportNVIDIA recently gave a trendline breakdown on the chart, indicating that bullish momentum has weakened. After the breakdown, the stock also retested the broken trendline from below, which is a common technical behavior — often referred to as a breakdown and retest pattern. This confirms that the broken trendline has now turned into a resistance level. ⚖️ Implications Since the retest failed to reclaim the trendline, selling pressure is likely to continue. The stock is now vulnerable to further downside and may gradually drift lower. The immediate support zone lies at $155–150, which coincides with prior demand areas where buying interest previously emerged. ✅ Key Levels Resistance (Invalidation): The broken trendline — if price reclaims and sustains above it, bearish momentum weakens. Support: $155–150 zone (short-term target area). Trend Bias: Bearish as long as the stock trades below the retested trendline.
NASDAQ:NVDAShort
by ChartsBySachin
RLMD — Breakout After 10-Month ConsolidationRLMD has finally broken out above its long-standing resistance after nearly 10 months of consolidation. The breakout is supported by good volume, which adds strength and reliability to the move. 🔑 Why This is Significant Long consolidation: When a stock trades sideways for months, it builds strong accumulation. Once price escapes the range, moves are often sharp and sustained. Volume confirmation: Breakouts on higher-than-average volume signal real demand, reducing the chances of a false breakout. Gap to fill: There’s a price gap up to $1.70. Gaps act like magnets — if the breakout holds, price often travels to fill them. 🎯 Levels to Watch Breakout trigger: $0.70 → needs to sustain trading above this level. Immediate targets: $1.40 → $1.70 (gap-fill). Invalidation: A daily close back below $0.70 would signal a failed breakout and likely return to consolidation. ✅ Conclusion As long as RLMD holds above $0.70, bias stays bullish with a possible gap-fill move toward $1.70. Traders should watch for retests of $0.70 acting as support, along with continued volume confirmation.
NASDAQ:RLMDLong
by ChartsBySachin
Head & Shoulders on DAX Daily Chart – Watch for BreakdownThe DAX index is currently forming a Head and Shoulders pattern on the daily chart, a well-known bearish reversal formation. This pattern typically signals a potential shift in trend from bullish to bearish if the breakdown occurs. Left Shoulder – Formed when prices peaked, followed by a correction. Head – A higher peak, marking the top of the uptrend, followed by another decline. Right Shoulder – A lower high compared to the head, showing weakening bullish momentum. Neckline – The key support line connecting the lows between the shoulders and the head. ⚖️ Implications If the DAX breaks below the neckline with strong volume, it will confirm the pattern. This breakdown could trigger further downward momentum, with potential targets calculated by measuring the distance from the head to the neckline and projecting it downward. ✅ Summary Pattern: Head & Shoulders (bearish) on daily chart. Trigger: Breakdown below the neckline. Outcome: Increased probability of further decline, with downside targets extending to lower support zones.
XETR:DAXShort
by ChartsBySachin
Long Term View on Bank NiftyRising Wedge Pattern (Bearish Setup) The red trendlines form a rising wedge, which is typically a bearish pattern. After years of an uptrend, the index has near its support from the wedge. Current Position (53,655) Bank Nifty has corrected sharply in the last few days/weeks and is now trading around 53,600 levels. The immediate support marked on the chart is around 53000. If this breaks, further downside could open. Key Support Levels 50,600 – first crucial support. 48,000–47,500 zone – next major support if selling extends. 32,448 – long-term support marked, aligns with pre-COVID breakout levels. Possible Scenarios (Green & Red Arrows on Chart) Bullish case (green path): If Bank Nifty stabilizes near 53,000-52,500 and reclaims 55,000+, it can attempt a bounce. Bearish case (red path): Sustained breakdown below 53,000-52,500 could accelerate fall towards 48,000 -47,500, and in extreme bearishness, even 32,500 over the medium term. ⚖️ Interpretation The structure suggests weakness after a long rally; if the wedge breakdown happens, then a trend reversal could happen. The next 1–2 weeks will be crucial: holding 53,000-52,500 may trigger a bounce, but a breakdown could confirm a deeper correction.
NSE:BANKNIFTY
by ChartsBySachin
ICICI Bank Under Pressure: Breakdown Could Open ₹1,360–1,340ICICI Bank has been exhibiting persistent weakness over the past few sessions, underperforming relative to the broader market and showing clear signs of profit-booking. Despite being one of the stronger banking names in the past, the stock has recently struggled to sustain upward momentum, reflecting near-term bearish undertones. Currently, ICICI Bank is trading around a crucial support band of ₹1,400–1,390. This zone has historically acted as a strong base, where buying interest has emerged in the past. However, repeated testing of this support without a meaningful bounce raises concerns about its sustainability. A decisive breakdown below ₹1,390 could accelerate weakness and potentially drag the stock towards ₹1,360 and ₹1,340 levels, which are the next major support zones. These levels are important markers that could determine the medium-term trend. On the upside, for sentiment to improve, the stock must sustain above ₹1,400–1,420 with strong volumes. Until then, caution is advised, as the undertone remains weak, and any breakdown may invite further selling pressure.
NSE:ICICIBANK
by ChartsBySachin
Bounce or Breakdown? HDFC Bank at Crucial Support BandHDFC Bank has been under sustained pressure over the past few sessions, reflecting both stock-specific concerns and broader market volatility. The stock has failed to participate meaningfully in the recent market upmove, which highlights underlying weakness in its structure. Selling pressure has intensified, and price action shows that the stock is struggling to hold above key support zones. At present, HDFC Bank is trading around a crucial support band of ₹950–₹940. This zone has historically acted as an important demand area, where buyers have stepped in to defend the price. However, the inability of the stock to bounce strongly from this range in recent days raises caution. A decisive breakdown below ₹940 may trigger further weakness, opening the door for a slide toward ₹930, ₹900, and even ₹870 levels in the near term. These levels are important psychological and technical supports, and a test of them cannot be ruled out if selling continues. Overall, unless the stock manages to sustain and bounce above ₹950 with strong volumes, the undertone remains weak. The coming sessions will be crucial to determine whether HDFC Bank stabilizes at this support zone or extends its downtrend.
NSE:HDFCBANK
by ChartsBySachin
Crucial Week Ahead: Bounce or Breakdown for Nifty?The Nifty ended Friday’s session at a very crucial technical level, which makes the coming week particularly important for market direction. The index has been showing signs of weakness after a sharp rally, and the 24350 level has now emerged as a key support zone. If Nifty fails to sustain below this level, it could open the doors for further downside. The next major support is placed around 24000–23800, which also coincides with previous demand zones and moving average clusters. Traders should note that the market sentiment next week will be critical. A sustainable bounce from the current level could re-establish bullish momentum and keep the uptrend intact. However, a decisive breakdown below 24350 may trigger profit booking and a short-term trend reversal toward lower levels. Overall, next week could act as a make-or-break zone for the Indian market, as price action around these levels will decide whether we continue higher or witness a deeper correction.
NSE:NIFTY
by ChartsBySachin
Bitcoin Analysis – Support Break & Next LevelsBitcoin has broken below its key ascending trendline and also lost the horizontal support around 111k–112k. The breakdown was followed by a retest of the trendline, which got rejected, confirming the weakness. 🔑 Key Levels to Watch 124,272 → Major resistance (recent swing high). 111k–112k → Broken support, now acting as resistance. 100,407 (~100k)→ Next important support zone to test. 92k–90k (red zone) → Strong demand area if 100k fails. 76,719 → Deeper support if selling continues. 📊 Possible Scenarios 1. Bearish Continuation (Base Case): Price likely to move toward 100k support. A bounce is possible here, but if Bitcoin closes below 100k on daily timeframe, next downside targets are 96k → 92k–90k. 2. Bullish Invalidation: If BTC reclaims 112k and sustains above it, short-term bearish outlook weakens. A break above 120k could reopen the path toward 124k. ✅ Conclusion Right now, the bias remains bearish below 112k, with 100k as the immediate support to watch. Reaction at 100k will decide whether we see a bounce back to 111k or a deeper correction into the 90k zone.
BITSTAMP:BTCUSDShort
by ChartsBySachin
Chart Analysis - Dow Jones (Breaking Important Resistance)The US30 index has successfully broken through an important resistance level today, which is a key technical development. This breakout suggests the potential beginning of a strong bullish trend, provided the index is able to sustain itself above the red zone. If it continues to hold above this zone, buyers will likely remain in control, paving the way for higher upside targets in the coming sessions. However, if the index fails to stay above this red zone and falls back below it, the breakout will be considered a false breakout, which could lead to renewed selling pressure and possible downside movement. In short, the red zone is the make-or-break level that will decide whether the trend continues upward or reverses.
TVC:DJILong
by ChartsBySachin
Chart Analysis - TCS1) Weekly support (context) Price is sitting near a multi-week demand zone (prior swing lows / consolidation base). Weekly supports matter because bigger timeframes filter noise and attract institutional flows. When price returns to a weekly support and stabilizes, it often transitions from distribution to accumulation. 2) Daily double bottom (pattern) A double bottom forms when price tests a low, bounces, then retests roughly the same low and rejects it again. That shows buyers defending the level twice. The neckline is drawn across the swing high between the two lows. A daily close above the neckline confirms the pattern. 3) Volume confirmation Healthy: rising volume on up-days, especially on the rally from the second bottom and on the neckline breakout. That says demand is active, not just a technical bounce. 4) Risk line (“invalidates below today’s low”) Your statement “bullish till it holds today’s low” defines a clear invalidity level. If price closes below today’s low, it suggests the second bottom failed—cut risk there. 5) Trade planning (illustrative, not advice) Entry ideas: (a) Aggressive: near current price with stop just below today’s low. (b) Conservative: on a confirmed close above the neckline, or on a pullback/retest to the neckline that holds. Stops: A few ticks below today’s low (aggressive) or below retest low (conservative). Management: Scale partial at interim resistance; trail stop under higher lows / 20-EMA on the daily. 6) What would weaken the setup Weak or declining volume on rallies, repeated rejections at the neckline, or a decisive daily close below today’s low/weekly support. In short: Weekly support + daily double bottom + volume = constructive. Confirmation comes with a neckline break; invalidation is a close below today’s low.
NSE:TCSLong
by ChartsBySachin
Chart Analysis – Bajaj Finance LtdThe stock was trading inside a rising channel for a long time but eventually broke down from it. After the breakdown, a retest of the broken support trendline was observed, confirming weakness. Currently, the price is struggling near the ₹890–₹900 zone, which is acting as a resistance. The critical support lies around ₹850. ⚠️ If the stock closes below ₹850, it will confirm further bearish momentum. The next support levels open up towards ₹820–₹800, which is also a strong demand zone (green highlighted area on chart). 📌 Summary: Unless the stock reclaims and sustains above ₹900, the bias remains weak. A close below ₹850 can accelerate the fall toward ₹820–₹800.
NSE:BAJFINANCEShort
by ChartsBySachin
SPX forms a bearish engulfing candle again Last week, the S&P 500 Index (SPX) printed a bearish engulfing candle on the weekly chart. This candlestick pattern occurs when a larger red (bearish) candle completely "engulfs" the body of the previous green (bullish) candle. It is a classic reversal signal, often indicating that the momentum may be shifting from bullish to bearish. What makes this significant is the recurring pattern we've observed: At each of the last three market tops, the SPX formed a bearish engulfing pattern—and each time, this was followed by a notable correction or pullback. The current candle mirrors those past setups almost identically, suggesting that the market may again be vulnerable to a short-term decline. However, the big question remains: "Will this time be different?" In short, the bearish engulfing pattern is a warning sign—especially given its historical reliability at tops—but confirmation is key. Ask ChatGPT
TVC:SPX
by ChartsBySachin
Bajaj Finance – Trendline BreakdownBajaj Finance has broken a key ascending trendline on the daily chart, with a minor retest underway. The price now trades below the 21 EMA (926.59), indicating short-term weakness. RSI stands at 38.31, showing bearish momentum with room for further downside. A significant volume spike confirms strong selling pressure. If the retest fails, the stock could drop toward the 790–830 support zone. This bearish setup remains valid unless the price reclaims the trendline and closes above the EMA. Traders should watch for rejection at the trendline to confirm further downside.
NSE:BAJFINANCEShort
by ChartsBySachin
Bajaj Finance – Bearish Divergence and Short Bajaj Finance is currently exhibiting a classic bearish divergence, which is a well-known signal in technical analysis indicating a potential trend reversal or weakness in the ongoing uptrend. 1. Price Action – Upward Trending Channel The stock price of Bajaj Finance has been making higher highs and higher lows, forming a well-defined upward channel. This typically suggests a strong bullish momentum, where buyers are in control, and the price continues to rise steadily. 2. RSI Indicator – Downward Channel In contrast to the price, the Relative Strength Index (RSI) – a momentum oscillator – is not confirming the bullish trend. The RSI is forming a downward channel, with lower highs and lower lows over the same time period. This means that while the price is moving higher, the momentum behind the move is weakening. 3. Bearish Divergence This mismatch between price movement and RSI is called a bearish divergence. It often signals that the upward trend may soon lose strength or reverse, as the underlying buying momentum is fading. Divergences are typically seen as early warning signs by technical traders. 4. Trade Setup – Good Short Opportunity Given the divergence, Bajaj Finance presents a high-probability short trade setup. Conclusion: The divergence between Bajaj Finance’s rising price and its declining RSI suggests that the bullish momentum is unsustainable. This creates a good opportunity to consider shorting the stock, especially for traders looking for setups with strong technical justification and attractive risk-reward profiles. Always ensure risk management is in place before entering the trade.
NSE:BAJFINANCEShort
by ChartsBySachin
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