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PFC - 1D TF - Cup & HandleCup & Handle pattern forming on Daily Chart of PFC. BUY 104, SL 86.9, Target(s) - 114, 119, 124. Handle is beyond the 50% limit of the Cup Depth. The stock has touched the price of 103.95 twice in the past, so it is acting as a strong resistance. It will give a nice breakout above that level. Will take a look at it again when price crosses 100 for any changes, if required. But if it goes below 86.9 before crossing 104, you might as well scrap this pattern for good. Cup Depth = 29.8. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
NSE:PFCLong
by c0dchef
AXIS BANK - 1D TF - Trend Line(s), Head & ShouldersAxis Bank has formed a nice support at 425, from where it keeps bouncing back. While 425 is strong support as seen from the Daily Chart, 415 is the critical level where also same base formation has happened in the past. Infact, it can be said that the support has travelled upwards to 425, which is quite good. The stock is moving in a similar fashion like before, except, it looks like the candles have gotten bigger and it has opened up for some upside move but is not sustaining. A Head & Shoulders pattern is in the making here, same way it had been back when the support was 415. Don't know what's gonna happen but no selling below 425. And below 415 -> 400. Last time it did not materialize and all banking stocks took a support at their respective levels. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
NSE:AXISBANK
by c0dchef
HDFC - 1D TF - Boxes, Bottoms, Heads & ShouldersLarge or Small, Rectangular Boxes are all over the Daily Chart of HDFC. Narrowing down for a support or a breakdown quite aggressively. Thrown with a couple of Head & Shoulders. A fall is in the offing, so, if it happens than on breaking of 1760 -> 1725-30 -> 1675-80. Index Heavyweight, so the dent will be quite big. If it takes a support at this levels, than this will mark a very important & critical support zone(bottom formation), given the proximity of recent lows happening since the month of June. BANKNIFTY looks weak on a shorter TF. Clone the rectanglular box. Put it exactly right below and see the magic. It takes us very close to the levels last seen in the month of March & May. I'm not sure if this mayhem is possible, once again. At the same time, the almost identical boxes are not forming out of the blue either. So take this cloning thing with 69 pinch of salt & turmeric. But if it happens, then -> mainebolatha.com | I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
HShort
by c0dchef