Mindtree (Hourly) - Double Bottom Chart Pattern Mindtree (Hourly)- Double Bottom Chart Pattern
Current market price - 4653
Target - 4893
Bollinger band is challenged on the upper end
RSI is above 60
Stochastic 14,3,3 is in positive crossover
ADX is above 15 and +DI is above -DI in Directional Movement Index
On the daily tide, all indicators / oscillators are positive too
MACD of the daily tide is uptick
Elliott wave count
Price is in 3rd wave in hourly timeframe
Price is in 5th wave in daily timeframe
Search in ideas for "oscillator"
Bajaj Finance (Hourly) - Inverted Head & Shoulders Chart PatternBajaj Finance (Hourly) - Inverted Head & Shoulders
Current market price - 7360
Target - 7813.20 (depth of the head)
Price has done breakout of the inverted head & shoulders chart pattern neckline
Bollinger band is challenged on the upper end
RSI is above 60
ADX is above 15 and -DI is above +DI in the Directional Movement Index (DMI)
All indicators / oscillators on the daily tide look good too
In fact, on the daily timeframe, the price has entered the 5th wave
HDFC Bank (Hourly) - Inverted Head & Shoulders Chart Pattern HDFC Bank (Hourly)
Chart Pattern - Inverted Head & Shoulders
Target - 1610 (Depth of the head)
Seems to have retested the neckline after the breakout
Has entered the 3rd wave in hourly and 5th wave in daily
RSI is above 60 and the stochastic 14,3,3 is in positive crossover
Bollinger band is challenged on the upper end
+DI is above the -DI in Directional Movement Index (DMI) with ADX above 15
All indicators / oscillators are positive in hourly and daily time frame
On weekly timeframe, thought the MACD is downtick but we have an early buy signal of stochastic 5,3,3 being in positive crossover
Kotak Mahindra Bank - Head & Shoulders Neckline Breakdown Kotak Mahindra - Daily
Chart Pattern - Head & Shoulders
Neckline breakdown
Lower bollinger band is challenged and the price candle is extending below it
MACD below the zero line of the histogram
Solid red bars below the zero line in the histogram
RSI is below 40 and in oversold zone
Stochastic is in negative crossover state
ADX is above 15 with -DI > +DI
5 EMA < 13 EMA
Even the weekly chart has indicators and oscillators indicating price is poised to go down
Indiabulls Housing Finance - Trendline Breakout Indiabulls Housing Finance (Daily) - Trendline Breakout
It seems to have entered the 5th wave after a long 4th wave
And currently it seems to be in the 3rd internal wave of the 5th main wave as per the Elliott wave count
This is the fifth attempt in which it has done a breakout of the long slanting trendline as shown in the image attached
RSI is above 60, Bollinger Band is challenged on the upper side and the ADX is well above 15
On the weekly tide, all indicators / oscillators are positive as well
spice jet bullishsentiment, oscillators, opening economy all favor spice jet along with spice cargo IPO
box breakout after consolidation since April 21. fib levels mentioned in channel. education purpose only
Btc weekly closeH1 chart comfirms the breakdown. Horizontal line on previous ath weekly close seem to be turning out as a resistance on h1. Have around 2 and half hours to recover. If not we go south and alts goes underground 😉. As such, though many say btc can remain over brought for long on oscillators, I personally disagree.
#BANKNIFTY Short Term Positional View Banknifty closed above 38,00 for the first time and all moving averages & oscillators are in buy mode.
VIX has surged to 18.05 ( VIX doesn't guarantee fall)
37,860 is the pivot level.
5 DMA:-37,590
10 DMA:- 37,404
20 DMA:- 36,998
50 DMA:- 36,044
Trying to find out weakness in the market is fool's paradise, just based on assumptions or astrology.
Don't listen to anyone, as long as 36,500 holds in the market, the medium-term trend is up and every dip has to be used to get it, with SL of 36,000 on a closing basis.
My heart is saying fall, but my brain is saying where are you seeing fall!!!
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Regards,
SG
EURUSD eyes 1.1790 break to keep controls on US inflation dayEURUSD struggles to keep rebound from monthly low ahead of the key US Consumer Price Index (CPI) data for August. Given the latest chatters over Fed tapering before the next week’s FOMC, today’s US inflation data becomes crucial for the markets. Ahead of the data, the US dollar slips and prints mild gains on the face of the EURUSD. However, failures to cross the 1.1910 horizontal resistance and sluggish oscillators keep sellers hopeful. It should be noted, though, that the 50-DMA and 20-DMA, respectively around 1.1795 and 1.1790, restrict the quote’s short-term downside ahead of July’s low near 1.1790.
If US inflation data rejects tapering concerns with a downbeat figure, the EURUSD prices may recover from the key moving averages. With this, the latest swing high around 1.1850 may offer an intermediate halt before highlighting the 1.1910 horizontal area, comprising multiple tops marked since June 30. In a case where the EURUSD bulls manage to keep reins past 1.1910, odds of its rally towards May’s bottom near 1.1985 and the 1.2000 psychological magnet should return to the charts.
#BANKNIFTY Short Term Positional View 13-17th Sep#BANKNIFTY Short Term Positional View 13-17th Sep
BankNifty is closing at 36,683, this is the first time in the last 18 months we have back-to-back two weekly closings above 36,000.
This week was more of consolidation after breakout due to a truncated week with low volume.
Last two weeks closing:- As per the data points, 36,000 areas will continue to be a demand zone.
Date Price Open High Low - Volume Chg%
Sep 05, 2021 36,683.20 36,818.55 36,912.90 36,155.45 175.84M -0.21%
Aug 29, 2021 36,761.15 35,781.05 37,140.00 35,721.90 816.66M 3.18%
On Daily timeframe, the closing price is above 5,10,20,50 DMA ( 36,654/36,507/36,088/35,587), trend & momentum oscillators are in buy mode and the majority of pivot points are placed around 36,672 (near our closing price).
To sum up data points, we are bullish.
On hourly chart pole & flag pattern, again bullish.
That's what I read from the chart, dil bola short but brains say stay long.
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Regards,
SG
@centralbankofindiaHello everyone!
Here Is a very good opportunity to buy CBI at this level and stop loss and target has been marked on chart
So reasons behind this entry I’ll explain
it has taken support on trend line & it is looking bullish
it’s on 50% of fib retracement i.e a good and healthy retracement
oscillators are also giving us signal in bullish direction
if we enter here SL should be respected for everyone
I don’t know the fundamentals so any wants see they can check I believe on technical only
Thanks!!
#banknifty view for 6th to 11th Sep'21:-#banknifty view for 6th to 11th Sep'21:-
BN at 36,761 is trading above all the DMA (5/10/20/50/100), all trend & momentum oscillators are in buy mode, all major pivots, and weekly closing at the highest point in the last 6 months.
Weekly high :- 37,140 & Low:- 35,721
No sign of any weakness in the market, the potential target on the upside is 37,250 / 37,550 and next is 38,150. Please allow the market to show weakness before you shart shorting the index.
All posotional SL is 36,200 spot.
DZ:- 36,750, try to trade the uptrend channel on the chart.
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Regards,
SG
#banknifty view for 17th Aug'21#banknifty view for 17th Aug'21
Do you see #banknifty weak?
No, trading above SDMA (5/10/20/50/100) and all trend & momentum oscillators are in buy mode.
What do I do, go long or go short? I don't see any weakness in the market until 35,531 is breached. Till that time, its buy-in dips the market for higher targets.
Do I get a shorting opportunity at higher levels? Yes, might be close to 36,760 to 36,983 areas, with an SL for 200 points.
Where do you see major support for BankNifty ? 35,855 - 35,910 / 35,703 / 35,531
Where do you see major resistance for BankNifty ? 36,446 / 36,584 / 36,760 / 36,851 /36,983
DZ:- 36,050
On 4 hour time frame:- 50% & 61% projection is placed at 36,905 & 37,563 which may or may not be achieved.
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Regards,
SG
#banknifty view for 16th Aug'21 #banknifty view for 16th Aug'21
Excellent Weekly Closing above 36,000 at 36,169.35, bulls are in full control.
Do you see #banknifty weak?
No, trading above SDMA (5/10/20/50/100) and all trend & momentum oscillators are in buy mode.
What do I do, go long or go short? I don't see any weakness in the market until 35,531 is breached. Till that time, its buy-in dips the market for higher targets.
Do I get a shorting opportunity at higher levels? Yes, might be close to 36,760 to 36,983 areas, with an SL for 200 points.
Where do you see major support for BankNifty ? 35,937 / 35,703 / 35,531
Where do you see major resistance for BankNifty ? 36,446 / 36,584 / 36,760 / 36,851 /36,983
DZ:- 36,089
On 4 hour time frame:- 50% & 61% projection is placed at 36,905 & 37,563 which may or may not be achieved.
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Regards,
SG
#banknifty view for 12th Aug'21 #expiry#banknifty view for 12th Aug'21 #expiry
Do you see #banknifty weak?
No, BN at 35,806 is trading above the majority of SDMA (10/20/50/100) and 5 SDMA is 35,903, and the majority of momentum & trend oscillators are in buy mode.
What do I do, go long or go short? I don't see any weakness in the market until 34,861 is breached. Till that time, its buy-in dips the market for higher targets.
Do I get a shorting opportunity at higher levels? Yes, might be close to 36,600 to 37,900 areas
Where do you see major support for BankNifty ? 35,211 / 35,404 / 35,596
Where do you see major resistance for BankNifty ? 36,372 / 36,631 / 36,891
DZ:- 35,900
On 4 hour time frame:- 50% & 61% projection is placed at 36,905 & 37,563 which may or may not be achieved.
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Regards,
SG
Rising Wedge Pattern formingAfter head and shoulder pattern failed to break sell side it is formed rising wedge pattern yesterday. Don't even think about short.Adding short and entering short is risky. RSI and other oscillators showing over sold. but as per my trading experience only pattern work well in this current situation. I calculated Target 16450,16750,17000
Don't add short nifty at this moment.
Do your own research before take trade.good luck.
3 10 Momentum trading with Heikin Ashi Idea consist of EMA 13 offset by 1
Linda 3 10 oscillator
3 10 Trend Signal
Enter Long once Linda 3 10 oscillator signal line (Red Line) crosses above zero from below
Wait for trend signal to turn green
Wait till 2 consecutive heikin ashi bullish candles closes above 13 EMA offset 1
Enter above high of second bullish heikin ashi candle
Trail your sl with13 EMA offset 1
exit as 2 consecutive bearish heikin ashi candles closes below 13 EMA offset 1
VICE VERSA for bearish trades
#banknifty view for 9th Aug to 13th Aug'21#banknifty view for 9th Aug to 13th Aug'21
#banknifty 35,809 weekly closing is strongest after 15th Mar'21 almost after 4 month.
All Daily Moving Averages, Momentum & Trend Oscillators are in buy mode:-
Period Simple
MA5 35517.90 Buy
MA10 35114.54 Buy
MA20 35181.18 Buy
MA50 35133.42 Buy
MA100 34162.39 Buy
MA200 32632.53 Buy
The majority of pivot points are around 34,870.
On technical indicators side, it's a buy until 35,180 holds.
On price action analysis:-
On 4 hour time frame:- Minimum 38% Fibonacci Projection for wave is nearly achieved after break above 35,985. Next 50% & 61% projection is placed at 36,905 & 37,563 which may or may not be achieved.
On 15 min time frame:- We have completed wave 3 and in Wave 4 - Can be anything 35,211 / 35,404 / 35,596, the price might reverse from GAP 35,238 - 35,313 and move up for 36,250 area.
How to trade? Below 34,700 the price might try to fill up the gap & from there you can expect the next up move above 36,000.
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Regards,
SG
GRANULES : Eve & Adam Double Bottom1. Since No'20, Price BREAK-OUT can be seen, many times, after CONSOLIDATION that indicates the price will start trending higher .
2. Mid-Term MA (tells that stock is in up-trend) and Resistance level of Eve & Adam DB , are almost at same levels, which indicates strength in stock.
3. About Double Bottom pattern .....
The first bottom of the pattern is just a continuation of the previous downtrend and is a new lower low. The middle peak of the double bottom is an expected retracement after the lower low. However, trouble arises when prices move down from the middle peak and attempt to make yet another lower low for the downtrend. Traders have been able to push prices progressively lower thus far, but when prices fail to fall past the previous low, traders become worried. Once the high of the middle peak is penetrated, the downtrend is considered dead by traders. Prices were unable to make lower lows (making lower lows is one of the definitions of a downtrend) and now since the high of the middle peak (technically a high) has been broken above, now a new high has been created (making a higher high is one of the definitions of an uptrend). Now that the downtrend has been broken and a new uptrend has been created, it is expected that traders will pile onto the new uptrend and prices will move higher.
EA double bottom pattern is the third best performing of the four double bottom patterns with an average rise of 37% after the price breakout confirmation before any retracement of 20% or more occurs.
Identification of Eve & Adam DB:
1. Price trend: Downward leading to the pattern.
2. Shape: Two distinct valleys that look different. Eve bottoms appear first and are wider and more rounded looking. Adam bottoms appear after Eve and are narrow, V-shaped, sometimes with one long price spike. Spikes that appear tend to be more numerous and shorter on Eve bottoms.
3. Peak: The rise between bottoms should measure at least 10%, but allow variations.
4. Bottom price: The price variation between bottoms is small, usually between 0% and 4%. The two valleys should appear to bottom near the same price.
5. Confirmation: The double bottom confirms as a true double bottom once price closes above the peak between the two valleys.
Last but not least - MACD : The Moving Average Convergence/Divergence indicator is a momentum oscillator primarily used to trade trends. Although it is an oscillator, it is not typically used to identify over bought or oversold conditions. It appears on the chart as two lines which oscillate without boundaries. The crossover of the two lines give trading signals similar to a two moving average system. "SHOWS POSITIVE DIVERGENCE"