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Ashokley Numerous Bearish signs!!!!Chart Patterns look good for a short trade REASONS 1. In Weekly timeframe, Ashokleyland broke out of the Ascending channel on sep 2022 & Right now it formed a Bearish Pennant pattern and Gave breakdown for that too!!!(SHOWN BELOW) 2. In daily time frame, it is moving alike Inverted cup& Handle pattern(shown below) 3. In 2hr timeframe, it is trading inside a DESCENDING CHANNEL and also there is Bearish pole pennant pattern seen. 4. There is an UNFILLED GAP ZONE (127- 125 RANGE)(Gaps often gets filled) 5. Target(dashed bright green lines) & Sl(dashed red line ) levels mentioned @ chart 6. Gap zone(green rectangle ) can acts as good support!! Just be fixed with the SL level. Let's wait and watch how it moves!!! NOTE - Just sharing my view....not a tip nor advice!!!!
NSE:ASHOKLEYShort
by mmjimm
Bears got Upper hand in CROMPTON ??!!!Chart patterns just impressing me with the title stated above. Reasons : (with respect to weekly time frame) 1. Crompton is travelling(and respecting) in expanding triangle pattern. 2. Now, there is bearish flag formation and given breakdown with volume (shown in chart). 3. Breakdown candle is a bullish engulfing candle. 4. Purple line(315 level) can be considered for the target.(as it may turn to be a consolidation zone) 5. If purple line too broken (chances are high) , then we can think about the next level target(will update) 6. Safe less risky SL can be Day candle closing above the flag (yellow line). Let's wait and watch how it moves. Note - Just Sharing my view....not a tip nor advice!!!
NSE:CROMPTONShort
by mmjimm
MUTHOOTFIN Down to see 800 level ??!!!Chart patterns insist me the above titled opinion. Reasons 1. Muthoot finance has been travelling in a expanding triangle pattern from 2015. 2. Till now, its respecting the pattern by taking support and resistance at perfect levels. 3. Currently it is in downswing inside the pattern. 4. It may take take support at the Major support (GRENN LINE 800 LEVEL ) soon . In Weekly timeframe, there is BEARISH PENNANT formation , yet to give BREAKDOWN. 5. only if the Bearish Pennant gives BREAKDOWN , we can confirm the down move . I will update(Target and SL) once it gives Breakdown!!! We need to wait, as the breakdown can occur this week or 2 month later or never. Let's wait for the Market's decision!!! As of now, (on seeing the chart) its not easy for bulls to charge up. Note : Just sharing my view....not a tip nor advice!!!
NSE:MUTHOOTFIN
by mmjimm
7
PIDILITIND SERIES OF BEARISH FLAGS !!!!Chart patterns look apt for a short trade in Pidilite industries REASONS 1. PIDILITIND from September 2022 has been in Downtrend forming lower highs and lower lows 2. Currently it is ,at its 3rd BEARISH FLAG pattern (gave breakdown with volume spike) 3. Previous 2 Bearish flags achieved their targets(as per pattern-pole length) without any sluggishness 4. There is DEMAND ZONE down near 2100 levels 5. SL as shown @ chart 6. Target - 2140, 2100(trail the SL) 7. Lower low formed on Friday(24 Feb) increases the probability of our short trade Let's wait and watch how it moves!!!! NOTE- Just Sharing my view...not a tip nor advice!!!
NSE:PIDILITINDShort
by mmjimm
DAMODARIND Nice Swing Opportunity ??!!! Better not to Miss!!!!Chart patterns look convincing for a long swing trade Reasons 1. Cup & Handle is in process. 2. 0.618 fib level broken out with volume(weekly timeframe) . 3. Double bottom with low and higher low . 4. Good volume support at perfect levels. Safe to get in after Cup & Handle Breakout.... Risky entry can be made if keeping the SL as Day close below 50. Quick Target can be the Neckline(70 level)!!! Fundamentally, Operating activity has been showing good numbers. Promoter pledge has been in the negative side of this stock... Will update once it breaks out!!! If pattern gets breakout....target as per pattern can be 120 level. Let's see how it moves!!! Note: Just Sharing my view...not a tip nor advice!!!
NSE:DAMODARINDLong
by mmjimm
NIFTY -- 3 BLACK CROWS vs MORNING STAR Chart patterns looks interesting from both bull and bearish point of view REASONS BEARISH VIEW 1. 3 Black crows (perfect closing) with rise in volumes ( www.tradingview.com) 2. February monthly candle looks like BREAKDOWN candle with low tested the next month 3. Weekly H&S pattern in progress 4. Bullish flag Breakout candle (october 2022 candle) low got tested....sign of bears strength BULLISH VIEW 1. Overall it is in uptrend(making higher highs and higher lows) 2. Morning star pattern (www.tradingview.com) 3. DAILY time frame Inverted H&S pattern given Breakout 4. April 2023 candle looks like a breakout candle (volume only concern) Let's wait and watch whether it is bulls or bears turn !!!! NOTE- Just Sharing my view....not a tip nor advice!!!! - mmjimm
NSE:NIFTY
by mmjimm
UPL Bearish way ahead ??!!!!Chart patterns convincing me to publish this above titled opinion REASONS 1. UPL has been trading inside an Expanding Triangle pattern(10 year- from 2013) taking support and resistance at perfect levels till now. 2. Currently it is under the down swing move inside the pattern 3. Pink trendline from 2020 acting as support, Bears trying to get break that trendline ( June 2022 (1st time), Oct 2022(2nd try), now Dec 2022(3rd try)). 4. During the june 2022 and oct 2022, weekly candle broke that line(with wicks), but low didn't get tested and bulls took charge. 5. But, now the Breakdown candle(19 dec weekly candle) is more alike BEARISH MARUBOZU candle with LOW TESTED!!!! 6. This may be a sign of Bearish way ahead!! 7. In the Daily time frame, its been travelling in a channel pattern and respecting it too and currently an inverted cup & handle like pattern too formed in verge of a Breakdown!!(shown below) 8. It is better to not to Go long even if you don't short now!!! 9 . Strong day close above the 775 will pave way for weakness in Bears approach!! If the stock goes as per levels shown, fib 0.382 , 0.5 can be the Target levels ahead!! In the short term, we can have SL - day close above 738 and Target as 680 Let's wait and watch, how it is going to move!!! Note - Just Sharing my view....not a tip nor advice!!!!
NSE:UPLShort
by mmjimm
4
WIPRO End of Fall ??!!Chart patterns insist me to go with above titled opinion REASONS 1. In Monthly timeframe , WIPRO has been trading inside Ascending channel taking support and resistance (shown below) 2. Middle yellow trendline- Resistance turned Support looks favourable for the bounce. 3. Entry(safe) can be made after a good voluminous Breakout out of the white slanting trendline. 4. SL can the low of the Breakout candle. As the stock has fell more than 50% , we can even wait for WEEKLY BREAKOUT and then enter upon retracement. Will update as it moves!!! Let's wait & watch , how it moves!!!! NOTE- Just sharing my view...not a tip nor advice!!!
NSE:WIPRO
by mmjimm
2
UBL Brewing down to its Major Support ??!!!Chart patterns look apt for a short trade in UBL REASONS 1. In Monthly time frame, UBL has been trading inside an Ascending channel pattern taking support and resistance at perfect levels till now. (shown below) 2. Right now, it is under its down swing move inside the Ascending channel pattern 3. In Daily timeframe , Bearish Flag pole pattern developing and due for BREAKDOWN!!! (shown below) 4. In 4 hr time frame, it is looking good to enter the trade ( STRUGGLING TO MAKE HIGHER HIGH) 5. Entry can also be after a 2hr breakdown out of the flag pattern(pink line) 6. Target(bright green)& strict SL(bright red) levels mentioned as Horizontal dashed lines Let's wait & watch how it moves!!!! NOTE - Just sharing my view....not a tip nor advice!!! Regards, mmjimm ;-)
NSE:UBLShort
by mmjimm
BHARTIARTL UNDER BEARS SPECTRUM !!!!Chart Patterns insist me the above titled opinion REASONS 1. BhartiArtl has been trading inside a Ascending channel pattern(bright red & green trendlines )and right now down swing move is under process(in the form of descending channel) 2. In the weekly time frame , it looks alike a Bearish pennant formation and given breakdown out of consolidation(shown below) 3. In the daily timeframe , Head & Shoulders pattern too visible (shown below) 4. There is Consolidation zone(in form of a rectangle box). 5. SL can be day candle closing above 796 (candle escaping out of the box) 6. Target - 730,717,700 7. Strong support down near 675 levels(rectangle box shown) Let's see how it moves!!! NOTE - Just sharing my view....not a tip nor advice!!!
NSE:BHARTIARTLShort
by mmjimm
KOTAKBANK in Bear's Radar ??!!!Chart patterns look impressive and paves way for the above titled opinion REASONS 1. KOTAKBANK has been trading inside ASCENDING CHANNEL(Bright red and green trendlines) taking support and resistance at perfect levels till now. 2. Currently it is going under the down swing move inside the ascending channel . 3. In daily time frame , it looks like a Bearish Pennant in process yet to break. 4. Target & SL levels as mentioned (dashed yellow horizontal lines)@ chart. 5. It may take support @ Green line( 10year old strong support from 2014 ) (channel support) soon. 6. In addition to the above mentioned points, A GAP remains UNFILLED till now. 7. Gap often gets filled .....there is a chance for that to happen... .let's stick with our targets and trail our SL!!! 8. Better to enter after a day or at least 2 hour Breakdown out of the Yellow trendline .(as shown below) Let's wait & watch how it moves!!!! Note- Just Sharing my view....not a tip nor advice!!!!
NSE:KOTAKBANKShort
by mmjimm
2
DRREDDY inside an Inverted Cup & Handle ??!!!Chart patterns look good for a short trade Reasons(all with respect to 1 hr time frame) 1. Drreddy has been travelling in an ascending channel pattern 2. Recently it broke out of the channel pattern with volume support 3. Inverted Cup & Handle pattern too looks perfect 4. Entry can be made after 1 hr breakdown out of the yellow trendline. 5. Target & Sl mentioned as dashed horizontal lines. Let's wait & watch , how it is going to move!!! NOTE - Just sharing my view....not a tip nor advice!!!!
NSE:DRREDDYShort
by mmjimm
BULLS regaining momentum IN SBICARDS ??!!Chart patterns indicating bulls favour in sbicards !! 1. Major Channel pattern respected in weekly and daily time frame. 2. Another small channel pattern (1hr time frame) paves way for a F&O trade. 3. Entry only after a 1HR Breakout with VOLUME . 4. SL- 809 (better to consider 1 hr closing price). 5. Target levels mentioned in chart.(F&O - trail the stoploss). 6. We can expect it to go near 1000 levels soon.(Will update once this target is achieved) Let's wait and watch!!!! Note- Just Sharing my view....not a tip nor advice!!!!
NSE:SBICARDLong
by mmjimm