Late night Technical analysis talk - Watch with patience 👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins
✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows
✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges , and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts
✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position.
✣ Supply/ Demand: In the supply zone , the prices are higher than the bid price, and in the demand zone , they are lower. The bid price is what a trader is willing to pay for a stock
👑 Important levels - explained well
👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :)
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
☃☃☃☃ Thank You Have a Nice Trading Day ☃☃☃☃
Search in ideas for "Chart Patterns"
10 Star analysis on NBCC - 10% possible move 👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins
✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows
✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges, and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts
✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position.
✣ Supply/ Demand: In the supply zone, the prices are higher than the bid price, and in the demand zone, they are lower. The bid price is what a trader is willing to pay for a stock
👑 Important levels - explained well
👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :)
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
☃☃☃☃ Thank You Have a Nice Trading Day ☃☃☃☃
Late night Technical analysis talk - Give me 12 mins if possible👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins
✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows
✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges , and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts
✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position.
👑 Important levels ( also most of it depends on your entry and mindset during trading hours )
✣ A 1hr close on 685-687 levels can trigger a breakout as explained in the terms section above
✣ Risk of 3% can be taken at the point = 660 points to be specific from entry
✣ Targets can be 1- 722 and 2- 750 for your 5% and 10% up move profit booking of the initiated swing trade
👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :)
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
☃☃☃☃ Thank You Have a Nice Trading Day ☃☃☃☃
10 Star analysis on SUNPHARMA - 10% possible move 👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins
✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows
✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges, and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts
✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position.
👑 Important levels ( also most of it depends on your entry and mindset during trading hours )
✣ A 1hr close on 685-687 levels can trigger a breakout as explained in the terms section above
✣ Risk of 3% can be taken at the point = 660 points to be specific from entry
✣ Targets can be 1- 722 and 2- 750 for your 5% and 10% up move profit booking of the initiated swing trade
👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :)
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
☃☃☃☃ Thank You Have a Nice Trading Day ☃☃☃☃
Nifty 50 Bullish Reversal is Expected.In this chart 15 min you can clearly see a Bullish Harami also as an closing candlestick pattern, on 1 day chart my indicators are telling me that we can expect a bullish opening tomorrow i.e. reversal and the trend can change as its been two to three bearish days and today we are seeing a slight hope of reversal. Just one thing that we have to see is that how well or bad the global markets will open today. The global markets will make a great impact on NSE for tomorrow market.
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*Disclaimer*- This is just an analysis of the data on the basis of technical factors such as chart patterns, candlestick patterns, trend line , option chain data, etc,. Stock Market or Trading in any type of market is subject to high financial risk. You should see this idea as just an analysis. You are not obliged to follow my instructions. You will be responsible for all types gains or loses in the market.
When both the bullish patterns reversed after decent gainsWe are told that technical analysis and chart patterns are 99% accurate, but here we are going to see the 1% deviation from expectation.
1st, there is a reverse head and shoulder formation, at the breakout from the right shoulder, there is a volume spike along with a price rally. The profit target is 23 points ( from the head till the neckline). The rally stays only till 156, just 12 points up. From there, its a bear candle and the price rally down to all the way below the low of the 'inverse head'. On a two day swing position, this would have been a good recommendation, but the bear rally would have wiped out all profits.
2nd, immediately after the head and shoulder, it is followed by a rally which eventually rises, forming a 'Cup' and a downward trend as a small consolidation. Price breaks out at 145 and sustains only till 165 and then falls to the level of the initial breakout at 145. Thus, 145 can test for a good support level.
The only worry is that though both of the bullish patterns have given swing gains, both of them failed to last and broke out of the bull rally. Over the last 4 days, the stock is in a side wards consolidation.
BAYERCROP Looks Good on ChartsBayerCrop NSE:BAYERCROP has given a breakout...
Yellow lines mark the next resistances.
For Educational purposes only.
More about me:
I am an investor for 4 years now. I used to do most of the analysis based on Macro-Economic factors for the last 4 years.
Seeing the recent changes in the market sentiments and habits of new retail investors compelled me to analyze chart patterns. New to this approach. Do support if I make any mistakes.
Britannia: Double Bottom ReversalWeekly chart of Britannia shows Double Bottom Reversal Pattern. This is one of the most reliable reversal chart patterns. Pivot is around 3798 and the stock has closed around this break out zone. The stock is expected to trade with positive bias and may challenge its previous high.
On a daily time frame the stocks is quite extended from its 20 EMA. So gradually it can be added around its 20 EMA line. Stop Loss is the close below 200 SMA.
fretail is in accumulation phasefretail has shown extraordinary price action since last couple of weeks. Its all happened in this counter
news, earnings, board meetings....but beauty of technicals of a stock is it still followed the chart patterns. In case of buying strict stoploss to be followed below the green support trendline as per one wishes. My view is not more than 10 percent .Remember this is a weekly chart and decision to be taken on weekly candle close.
happy trading.
BhartiAirtel "The most awaited pattern Cup and Handle"These types of breakout chart are seen once in lifetime. As shown in the chart BhartiAritel has formed cup and handle. After 570 it should fly as rocket. The target should be considered from the bottom of cup. This can turnout into multibagger.
Best Funds of 2020
Disclaimer
I’m one of several internet enthusiasts who trade in stocks in cash segment of NSE and BSE and invest in mutual funds.
I am NOT a SEBI registered advisor or a financial adviser.
Any of my investment or trades I share on are provided for educational purposes only and do not constitute specific financial, trading or investment advice. Any Advice or information on this website is general advice for education purpose only and does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here.
I never share a stock tip but if you find any stock discussions, the idea is to provide the educational information based on actual trade or actual information available about the company in the public domain.
Most SEBI registered advisors or the brokerage houses provide stock recommendation with a price target and stop loss but do not share how and what is the basis of such recommendation. I prefer to share how one can calculate those stop loss and target levels based on chart patterns.
PIDILITE - WILL THE ADHESIVE GIVE OFF?DOJI HAD FORMED AT 1098-1128. MULTIPLE TOPS AT 1296 FOR THREE CONSECUTIVE DAYS IS SEEN.
ON BREAKING LOWER SIDE (1098) TARGETS ARE 1280 AND 1210.
ON BREAKING HIGHER SIDE (1130) TARGET UPTO 1440 IS ESTIMATED.
MY OBSERVATION IS IT WILL COME DOWN.
REASON IS HOURLY CHART AND 4 HOUR CHART PATTERNS.
HDFC BANK - AN INVESTMENT PICK AT MOUTHWATERING VALUATION?The HDFC Bank extended decline today, after marking its biggest single-day drop since March 2020.In the last two days alone, HDFC Bank has corrected more than 12%.
This decline is fine but there's another picture to it which no one is talking about.
While there is so much panic among investors and traders but this panic can be a good investment opportunity.
There exists a curve resistance at long term charts around 1700-1720 levels which HDFC respected this time also and fell from that level.
On the other hand, If we talk about technical patterns, There is a clear Inverse Head & Shoulders pattern in making at long term charts. Such long term chart patterns don't fail most of the time.
HDFC current market price is 1500 and It is trading at a support zone of 1480-1500 & valuation is good at cmp.
Inverse Head & Shoulders pattern breakout level is 1690-1700.
Breakout of this pattern will take it to 2200 levels which is approximate 46-47% upside from current level. Incase It falls further, then It can be added more at 1450-1420-1400 levels.
This could be a great investment for long term investors.
XAUUSD BUY ONLEVELTechnical Analysis:
Examine price charts for trend patterns, support/resistance levels, and key technical indicators (e.g., Moving Averages, RSI, MACD).
Identify potential entry points based on chart patterns or breakout scenarios.
Fundamental Analysis:
Consider economic factors that might influence the price of gold, such as inflation rates, interest rates, and geopolitical events.
Monitor global economic conditions and currency movements that could impact the US Dollar.
Sentiment Analysis:
Assess market sentiment through tools like the Commitment of Traders (COT) report, which shows the positioning of different market participants.
Look for news and social media sentiment related to gold and the US Dollar.
Risk Management:
Define your risk tolerance and set stop-loss levels to manage potential losses.
Consider the overall risk-reward ratio for your trade.
Ushamart: Riding the BullsUshamart has garnered attention in the market for showcasing a notably bullish structure, accentuated by robust trading volumes. The combination of a positive chart setup and strong trading activity suggests an optimistic outlook for the stock.
Investors and traders alike are drawn to the favorable technical patterns exhibited by Ushamart's chart. The bullish structure implies a potential upward trajectory, with key indicators pointing towards a positive sentiment among market participants.
What further underscores the bullish sentiment is the substantial trading volumes accompanying Ushamart's recent moves. Elevated volumes often serve as a validation of price movements, signaling active participation and conviction among investors in the stock.
As market dynamics evolve, it becomes imperative for investors to conduct thorough research, considering both technical indicators and fundamental aspects of Ushamart. Understanding the factors contributing to the bullish structure and the associated trading volumes provides a comprehensive view of the stock's potential.
While embracing the optimism, prudent risk management remains essential. Monitoring market conditions, staying informed about industry trends, and aligning positions with individual risk tolerance are crucial steps for those considering opportunities presented by Ushamart's current bullish structure. Seeking guidance from financial professionals or advisors can offer valuable insights tailored to individual investment goals and risk profiles in light of the promising chart patterns and volumes observed in Ushamart.
NAZARA - Symmetrical Continuation Triangle (Bullish) pattern Here's a breakdown of the key components and characteristics of the Symmetrical Continuation Triangle (Bullish) pattern :
Converging Trendlines: The pattern is formed by two converging trendlines, one drawn connecting the lower highs and the other connecting the higher lows. This creates a triangle-like shape on the price chart.
Price Consolidation: The pattern typically forms during a period of consolidation, where the price movement becomes range-bound. This consolidation phase signifies a temporary pause or uncertainty in the market after a prior uptrend.
Decreasing Volume: As the pattern develops, trading volume tends to decrease. This reduction in volume reflects the indecision and lack of strong conviction among traders regarding the future direction of the price.
Price Breakout: The key event in this pattern is the price breakout. Before the triangle pattern reaches its apex (the point where the trendlines converge), the price breaks out above the upper trendline. This breakout is characterized by a noticeable increase in trading volume, indicating a surge of buying interest.
Confirmation of Uptrend Continuation: The breakout above the upper trendline is seen as a signal that the prior uptrend is likely to continue. The increase in volume suggests that a significant number of traders are now confident in the upward direction of the price.
Overall, the Symmetrical Continuation Triangle (Bullish) is interpreted as a bullish continuation pattern. It suggests that after a period of consolidation and uncertainty, buyers have regained control, and the price is likely to resume its upward movement.
It's important to note that while chart patterns like this can provide insights into potential price movements, they are not foolproof predictions.
Traders often use these patterns in conjunction with other technical and fundamental analysis tools to make informed trading decisions.
PLEASE NOTE THAT:
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.
Pole and Flag Pattern Flag Pattern is one of the most popular chart patterns, formed by price action, which is contained within a small rectangle or a channel in the shape of a flag. Flags are short-term continuation patterns that mark a small consolidation before the previous move resumes.
What is 'Flag' Pattern?
A flag chart pattern is formed when the market consolidates in a narrow range after a sharp move. Usually a breakout from the flag is in the form of continuation of the prior trend. Flags give very high risk reward ratio which means relatively small risk and high and quick profits.
The flag pattern could be bullish or bearish pattern. Flags can be seen in any time frame but normally consist of about five to 15 price bars.
Targets: The length of the flagpole can be applied to the resistance line of the flag to estimate the advance or target area.
Power of Inverted Head and Shoulder PatternI had posted this analysis on 25th June and see how well the price action worked in this case.
After breaking out of Neckline 2 of inverted head and shoulder pattern 2 the stock moved up the same depth as that of shoulder 2.
After that there was a perfect pullback and continuation to complete our Inverted head and shoulder pattern 1.
The first estimated target was the depth of shoulder 1. That target has been achieved in 10 trading sessions. Typically in these patterns the main target is set to the depth of head.
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My original idea was as below:
(We can see perfect price action for Inverted head & shoulder pattern here.
The price made shoulder 1 and moved down to form complete inverted head & shoulder pattern 2.
It gave a breakout with shoulder 2 target met in confluence with neckline of pattern 1.
Then proper pullback and continuation is seen to neckline 2 and then back to neckline 1 completing our pattern 1.
Now it has given a breakout and looks good above 1075 level for a positional target of 1172.)
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Price action is one of the best techniques to take intraday and swing trades.
Once you understand the basics of chart patterns and how to set your targets and stop loss, you can book decent returns on your capital.
Learn & Earn,
Dr. Tanya Kumar
NSE:SBIN Levels respected very well !! checkoutNSE:SBIN
We can trade confidently only when we have fair idea of what we are dealing with, If we are able to identify the levels of Support and resistance, Half job is done, later part u can do by identifying the chart patterns and volumes !
Bullish Spike: People also call it as Bullet, If this candle pattern is formed, irrespective of any time frame, there will be high chances of Upside momentum !!
#SBIN Chart check out the levels, Patterns respected !!
Power of Price Action !!
Happy LEarning !!
Bank Nifty 13-7-2021Bank Nifty is looking quite bullish as Nifty 50 is also bullish but one thing that you should remember is that the Bank Nifty is considerably weak then Nifty 50. So you can expect a bullish view tomorrow. A gap up is expected because
1. There can be a break out due to ascending chart pattern that I analyzed in previous analysis. So keep an eye out their.
2. After analyzing the option chain we saw that the call writers exited their shorts in huge and amount and their is a short buildup heavily on the bullish or put side.
3. The PCR is 1.18 which is slightly overbought this is one of the reason why Bank Nifty is weak than Nifty 50.
4. The Bank nifty has gave a great closing of above the dangerous level of 35500 which is quite a bullish sign.
Now, the major(Yellow) and immediate(Blue) supports and resistance zones are give below. You can have a bullish view for tomorrow.
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*Disclaimer*- This is just an analysis of the data on the basis of technical factors such as chart patterns, candlestick patterns, trend line , option chain data, etc,. Stock Market or Trading in any type of market is subject to high financial risk. You should see this idea as just an analysis. You are not obliged to follow my instructions. You will be responsible for all types gains or loses in the market.
Bank Nifty 12-7-2021Bank Nifty can be a little bearish which may have an impact on Nifty also but same as nifty it will consolidate between the specified regions. There will be no more particular breakouts. So you can have a short strangle or you can sell a call or buy a put near the specified resistance zone. Or you can buy a call and sell a put near the support zone. Overall as I analyzed before that the Bank Nifty is forming an ascending triangle chart pattern. So overall momentum is still bullish and you can also buy a future of Bank Nifty in this dip.
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*Disclaimer*- This is just an analysis of the data on the basis of technical factors such as chart patterns, candlestick patterns, trend line , option chain data, etc,. Stock Market or Trading in any type of market is subject to high financial risk. You should see this idea as just an analysis. You are not obliged to follow my instructions. You will be responsible for all types gains or loses in the market.
NIFTY 50 12-07-2021Today the chart of Nifty 50 is showing a neutral sign and the market can give both upside and downside move between the specified ranges. So, you must take trade responsibly after observing today's global markets and fundamentals. Also you can consider this day as a consolidation period for Nifty for a good breakout and trade in the options of some stocks. As tomorrow's day will be considered as a resulting day for concluding whether the nifty will give a break out or not.
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*Disclaimer*- This is just an analysis of the data on the basis of technical factors such as chart patterns, candlestick patterns, trend line , option chain data, etc,. Stock Market or Trading in any type of market is subject to high financial risk. You should see this idea as just an analysis. You are not obliged to follow my instructions. You will be responsible for all types gains or loses in the market.
Is Aditya Birla Fashion and Retail in the consolidation region?The technical analysis of the chart patterns indicate that the stock is in the consolidation region swaying between upper band of 153 and lower band of 131 The CMP of 137 indicates a small uptrend to 153. The RSI indicates that it is fairly valued and The also with the future group being sold to reliance could add extra capital to ABFRL as well as provide a wider market by entering the retail units of Reliance and online AJIO.
Disclaimer: The ideas posted are the author's personal opinion by analyzing the chart patterns and information available in the public domain. Due diligence is required.
NSE:ABFRL