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AKSHARCHEM Trendline BO & Harmonic PatternIn this analysis, we will delve into the technical aspects of the weekly chart for AKSHARCHEM, aiming to provide insights into potential trading opportunities based on key patterns and indicators. Breakout of Weekly Trendline: The chart presents a significant breakout of a weekly trendline. Breakouts of trendlines, especially on longer timeframes like the weekly chart, can signal a shift in market sentiment. In this case, the breakout indicates a potential transition from a bearish trend to a bullish one. This breakout is a critical point of interest for traders, often influencing their decision-making process. Confirmation Through RSI Breakout: The breakout observed on the Relative Strength Index (RSI) adds more weight to the breakout from the trendline. RSI is a popular momentum oscillator that measures the speed and change of price movements. The fact that the RSI has also broken out suggests a convergence of signals, enhancing the credibility of the bullish scenario. Black Swan Harmonic Pattern: Adding further intrigue to the analysis, a Black Swan Harmonic Pattern is discernible on the chart. This pattern, also known as the alternate bat pattern, is a relatively rare occurrence and can be seen as a reversal pattern. The presence of this pattern might imply that the current trend is at a potential turning point. Proposed Trade Strategy: Taking the insights from the chart analysis into account, here's a proposed trade strategy: Entry: Consider entering a long position at the current market price (CMP) of ₹260.9. This entry point aligns with both the breakout from the weekly trendline and the confirmation from the RSI breakout. Stop Loss (SL): Implement a stop loss at ₹230. This level is strategically chosen to allow for reasonable price fluctuations while providing protection against sudden adverse movements. Effective risk management is vital to successful trading. Targets: Set multiple targets to take advantage of potential price movements: Target 1: ₹290 Target 2: ₹344 Target 3: ₹399 These target levels are determined based on the potential upside suggested by the breakout from the weekly trendline and the Black Swan Harmonic Pattern. Conclusion: While technical analysis offers valuable insights, it's important to note that no analysis guarantees specific outcomes in the stock market. Trading involves risks, and comprehensive research, risk management, and consultation with financial professionals are essential before making any trading decisions. The breakout from the weekly trendline, confirmation from RSI, and the presence of the Black Swan Harmonic Pattern create an interesting scenario for AKSHARCHEM. However, market conditions can change rapidly, so staying informed and adaptable is crucial for successful trading.
NSE:AKSHARCHEMLong
by yaashul
BNB/USDT: Bullish Breakthrough - Inverse H&S with RSI Divergence💎 Hey ParadiseSquad, let's focus on BNB/USDT. Looking at the 1-hour chart, we can spot an inverse head and shoulders pattern accompanied by bullish divergence on the RSI. Notably, the right shoulder is shorter than the left one, indicating a pattern of higher highs and higher lows. 💎 If the price successfully breaches the resistance level at 220, we could reasonably expect a strong bullish upswing targeting the next resistance points at 224.7 and 230.4. However, if the price drop below the invalidation zone of 211.5, this bullish pattern would lose its significance. 💎 Presently, the price seems to be consolidating around the breakout level. Remember, the more the price lingers here, the greater the potential for a significant move. Stay sharp with your trading instincts, ParadiseSquad!
Long
by MyCryptoParadise_Nathan
Bharat Forge Cmp 898 Rectangle BO, RSI BO, HLBharat Forge Cmp 898 date 27-7-2023 1. Rectangle Consolidation BO above 920. 2. RSI already had BO 3. Higher Lows Buy above 900 target 920-950-980-1000-1025-1050-1080 SL 850 News: Bharat Forge granted approval to participate in potential defence programs in future. The auto components maker also said that it has been granted a license for small arms and ammunition by the Ministry of Home Affairs under Arms Rules, 2016. It is just a view, please trade at your own risk.
NSE:BHARATFORGLong
by SHEETAL_UDESHI
6
BTC/USDT Crossroads:Short Term Bearish Signals & What Lies Ahead💎 Paradisers, let's dive into BTC/USDT. The asset has recently slipped below its supportive trendline and is currently hovering near the demand zone of 25,792 on the weekly chart. My anticipation is that we might witness some stabilization in this region for a few days or perhaps a week before the price determines its subsequent trajectory. Presently, the scales tip towards a bearish sentiment, primarily due to the bearish divergence spotted on the RSI, signaling a potential trend reversal. Yet, it's essential to stay attuned to the price action. 💎 If BTC/USDT plunges past the 24,214 demand threshold, we might be steering towards the subsequent demand zone at 21,753. Intriguingly, this aligns with the Fibonacci's 0.618 level, often dubbed the 'golden zone'. Any bullish signs here could suggest a potential uptrend. However, if this zone crumbles, our sights are set on the 16,603 mark, a formidable demand zone and an optimal juncture for long-term accumulation. 💎The market might exhibit a lateral movement, potentially shaking out the less tenacious traders. Given the room for further decline in both the RSI and price, Stay vigilant and keep soaring, ParadiseSquad!
Short
by MyCryptoParadise_Nathan
EGLD/USDT Alert: Wedge Pattern Sparks Bullish Momentum!💎 Hey Paradisers, let's explore EGLD/USDT. Zooming in on the daily chart, a falling wedge pattern has emerged over time. Right now, it's getting closer to a strong support trendline, and a noticeable bullish MACD divergence is in play. 💎 If EGLD/USDT stabilizes on this support line and breaks the 29.82 level, we might be gearing up for an exciting bullish momentum. Potential targets? Our sights are set on resistance at 33.64 and maybe even 36.31. Interestingly, a bounce from the support could catch rookie short traders off-guard. Those who shorted at the previous low might get trapped, and as the price climbs past their entry points, triggering their stop losses, we could witness a bullish surge. 💎Stay alert and trade smart, ParadiseSquad!
Long
by MyCryptoParadise_Nathan
XAUUSDDetailed analysis of Gold XAUUSD Past two days gold is in sell trend but can't break the weekly trend line so that trend has been changed.... AO (Awesome Oscillator) also indicates at... Even chart on Lower Lower but AO is in Higher Higher formation so that buying will be happen.... Entry will be 1964-1968. Stop Loss below 1933.... 1st supply zone is 1952-1955 Resistance 1959.... 4h trend line passing zone 1966-1976 2nd supply zone 1976-1985 Resistance 1989.... Once touch 2nd supply it may come to retracement on 4h trend line area. Once got retracement. 3rd supply zone will be 2014-2019 Big sell zone is 2054-2066.... Notes: ONLY EDUCATION PURPOSE....DO YOUR OWN ANALYSIS....
OANDA:XAUUSDLong
by SATHAYAM_ACADEMY
7
OBEROIRLTY is an attractive cheap BUY.TECHNICAL ANALYSIS OF OBEROIRLTY The LAST CLOSE PRICE of OBEROIRLTY is 958.85. The PARABOLIC SAR is showing the BUY SIGNAL with TREND as UPTREND . The FIBONACCI LEVELS analysis shows that the CLOSEST FIBONACCI LEVELS is 0.5 at the FIBONACCI STOCK PRICE LEVEL of 943.65. From here, the Key Support and Resistance levels are SUPPORT 1 at 929.75, SUPPORT 2 at 912.55 with RESISTANCE 1 and RESISTANCE 2 at 957.55 and 1002.55 respectively. The Key 50% FIBONACCI LEVEL stands at 943.65 which is the crucial Fibonacci Level determining whether the scrip will maintain the trend or not. The STOC RSI has the values K and D as 46.07 and 37.08 respectively. At this level it the status is WITHIN OVER BOUGHT AND OVER SOLD RANGE. When we look at the Moving Averages, MACD is the crucial indicator to look into. With MACD VALUE at 8.45 and 5 at 8.42 alongwith HISTOGRAM showing valus of 0.02, the STATUS is clearly BUYING CROSSOVER. The best indicator to determine the Trend Reversal is FISHER TRANSFORM and currently the values of FISHER and TRIGGER stand at 1.05 and 0.59 with signal as UPTREND. A very important factor while making the investment is to see if there has been already too much of Buying or Selling, and that are we entering too late into the transaction or not. Thus, with WILLIAM's R% value at -0.371 the STATUS is WITHIN OVER BOUGHT AND OVER SOLD RANGE. No one wants to buy costly things, and thus always look for the bargain or appropriate price levels to buy things. Same applies to Stocks, howver the only exception would be some Hot Stocks that one wants to have any price. Looking at this perspective, the P/E RATIO of the stock stands at 17.96 which signifies its Price Level to be VERY CHEAP. >>> RECOMMENDATION is : BUY. TARGET PRICE 1 = INR 957.55. TARGET PRICE 2 = INR 1002.55. STOP LOSS 1 = INR 929.75. STOP LOSS 2 = INR 912.55. Disclaimer: The following information is for educational and informational purposes only and should not be construed as financial advice or a recommendation to buy, sell or hold any stock or investment. Technical analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume. However, the future performance of a stock or investment cannot be guaranteed based on technical analysis alone, and other factors, such as economic conditions and company fundamentals, should be considered when making investment decisions. Before making any investment decisions, please consult with a licensed financial advisor and conduct your own research to determine if an investment is suitable for your individual circumstances and risk tolerance. Past performance is not indicative of future results, and investing involves risk, including the possible loss of principal.
NSE:OBEROIRLTYLong
by finogent
2
SUNPHARMA: Good Buy in PHARMA Space"TECHNICAL ANALYSIS OF SUNPHARMA The LAST CLOSE PRICE of SUNPHARMA is 999.6. The PARABOLIC SAR is showing the UPWARD SIGNAL with TREND as UPTREND . The FIBONACCI LEVELS analysis shows that the CLOSEST FIBONACCI LEVELS is 0.618 at the FIBONACCI STOCK PRICE LEVEL of 999.45. From here, the Key Support and Resistance levels are SUPPORT 1 at 985.1, SUPPORT 2 at 973.15 with RESISTANCE 1 and RESISTANCE 2 at 1002.15 and 1023.85 respectively. The Key 50% FIBONACCI LEVEL stands at 973.15 which is the crucial Fibonacci Level determining whether the scrip will maintain the trend or not. The STOC RSI has the values K and D as 100 and 95.75 respectively. At this level it the status is OVER BOUGHT. When we look at the Moving Averages, MACD is the crucial indicator to look into. With MACD VALUE at 2.71 and 22.23 at -4.36 alongwith HISTOGRAM showing values of 7.08, the STATUS is clearly UPWARDS. The best indicator to determine the Trend Reversal is FISHER TRANSFORM and currently the values of FISHER and TRIGGER stand at 2.51 and 2.05 with signal as UPTREND. A very important factor while making the investment is to see if there has been already too much of Buying or Selling, and that are we entering too late into the transaction or not. Thus, with WILLIAM's R% value at -0.0505 the STATUS is OVER BOUGHT. No one wants to buy costly things, and thus always look for the bargain or appropriate price levels to buy things. Same applies to Stocks, howver the only exception would be some Hot Stocks that one wants to have any price. Looking at this perspective, the P/E RATIO of the stock stands at 27.94 which signifies its Price Level to be OK. >>> RECOMMENDATION is : BUY. TARGET PRICE 1 = INR 1002.15. TARGET PRICE 2 = INR 1023.85. STOP LOSS 1 = INR 985.1. STOP LOSS 2 = INR 973.15. Disclaimer: The following information is for educational and informational purposes only and should not be construed as financial advice or a recommendation to buy, sell or hold any stock or investment. Technical analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume. However, the future performance of a stock or investment cannot be guaranteed based on technical analysis alone, and other factors, such as economic conditions and company fundamentals, should be considered when making investment decisions. Before making any investment decisions, please consult with a licensed financial advisor and conduct your own research to determine if an investment is suitable for your individual circumstances and risk tolerance. Past performance is not indicative of future results, and investing involves risk, including the possible loss of principal"
NSE:SUNPHARMALong
by finogent
TCPLPACK's Trendline Support and RSI SupportIn this post, we will conduct an analysis of TCPLPACK's chart, focusing on the approaching trendline support, RSI support, and the potential for a short-term bounce. By examining these technical aspects, we aim to provide insights into the stock's current situation and the potential for upward movement. Let's delve into the analysis and explore the situation. Chart Analysis: Upon reviewing the provided TradingView chart for TCPLPACK, we can observe that the stock is approaching a trendline support around the 1410-1425 level. This support level indicates a price range where buyers are expected to enter the market, potentially leading to a bounce in the stock's price. RSI Support: In addition to the trendline support, we can also observe that the RSI (Relative Strength Index) is showing support. The RSI is an oscillator that measures the speed and change of price movements. When the RSI reaches support levels (typically around 30-40), it suggests that the stock may be oversold and due for a potential rebound. Short-Term Bounce Potential: Considering the approaching trendline support and the RSI support, there is a potential for a short-term bounce in TCPLPACK's stock price. The bounce could potentially drive the price up to around 1540. However, it is important to exercise caution and wait for further confirmation before entering a trade. Complete Test and Daily Chart Confirmation: To increase the probability of success, it is advisable to wait for a complete test of the trendline support in the 1410-1425 level range. This test will help validate the strength of the support level and confirm the potential buying opportunity. Additionally, traders should wait for a green signal or bullish indication on the daily chart, such as a bullish candlestick pattern or a positive crossover of moving averages, to further validate the potential upward movement. Risk Management: Implementing risk management strategies is crucial when trading or investing. Setting a stop-loss level helps limit potential losses in case the anticipated bounce does not materialize as expected. In this case, a suggested stop-loss level of 1330 can be considered, but individual risk tolerance and the support levels on the chart should be taken into account when determining the appropriate stop-loss level. Conclusion: Based on the technical analysis, TCPLPACK's chart indicates the approaching trendline support in the 1410-1425 level range and RSI support. These factors suggest a potential buying opportunity and the potential for a short-term bounce in the stock's price, with a target around 1540. However, it is crucial to wait for a complete test of the support level and obtain further confirmation on the daily chart before considering a trade. Traders and investors should consider these technical factors alongside other fundamental and market-related information before making any trading decisions. It is advisable to consult with a financial advisor or conduct further research before making any financial decisions. Disclaimer: The information provided in this blog post is for educational purposes only and should not be considered as financial advice. Trading stocks involves risks, and past performance is not indicative of future results. It is advisable to consult with a financial advisor or conduct further research before making any financial decisions.
NSE:TCPLPACKLong
by yaashul
1