Get started

Shark

Analyzing CUB's Harmonic Shark Pattern, Trendline SupportIn this post, we will conduct a comprehensive analysis of Cub's weekly chart, focusing on the formation of the Harmonic Shark pattern based on Fibonacci levels. Additionally, we will explore the presence of trendline support, the demand zone, and the RSI indicator. By examining these technical aspects, we aim to gain insights into the potential direction of the stock. Let's delve into the analysis and explore the situation. Chart Analysis: Upon reviewing the provided TradingView chart for Cub, we can identify the formation of a Harmonic Shark pattern on the weekly timeframe. This pattern is based on Fibonacci levels and suggests a potential reversal in the stock's trend, indicating a shift from a bearish to a bullish market sentiment. The Harmonic Shark pattern incorporates Fibonacci retracement levels to identify potential reversal zones. It consists of five key points: X, A, B, C, and D. The pattern is formed by the price retracing from point X to point A, followed by a rally from point A to point B. The subsequent correction from point B to point C creates the potential reversal zone. Finally, the price moves from point C to point D, representing the potential reversal and continuation of the bullish trend. Trendline Support, Demand Zone, and RSI: In addition to the Harmonic Shark pattern, we can observe the presence of trendline support on the chart. This support level adds significance to the potential reversal indicated by the pattern. It suggests that the stock's price might find buying interest in this area, potentially leading to a bounce or a continuation of the bullish momentum. Furthermore, the chart also indicates the presence of a demand zone. This zone represents an area of significant buying interest and may act as a support level for the stock's price. The convergence of trendline support and the demand zone strengthens the potential for a bullish move. Additionally, the RSI (Relative Strength Index) on the weekly chart is starting to show attractiveness. The RSI is an oscillator that measures the speed and change of price movements. An RSI reading below 30 is often considered oversold and may indicate a potential buying opportunity. The attractiveness of the RSI suggests a possible shift in momentum to the upside. Analysis and Targets: Considering the Harmonic Shark pattern, the suggested entry point would be the current price of 125. The initial target for this pattern is set at 156, with a subsequent target of 180. These levels represent potential areas where traders may consider taking profits. To manage risk, a suggested stop-loss level of 109 is recommended, which helps limit potential losses if the anticipated reversal does not materialize. Conclusion: Based on the technical analysis, Cub's weekly chart exhibits the formation of a Harmonic Shark pattern, indicating a potential reversal and continuation of the bullish trend. The presence of trendline support, the demand zone, and the attractiveness of the RSI further enhance the potential for an upward move. Traders and investors should closely monitor the price action around the trendline support, the demand zone, and the confirmation of the Harmonic Shark pattern before making any trading decisions. It is important to consider other technical indicators, market conditions, and consult with a financial advisor before making investment choices. 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:CUBLong
by yaashul
Be Ready for another retracement in SBICARDSName of the Stock - SBICARDS Time Frame - Hourly . . Name of the Pattern - G2 Bearish Shark Harmonic Pattern . PRZ 1 - 847.85, PRZ 2 - NA , PRZ 3 - 847.30 . Stoploss - 850.15 . Additional Signal - Trendline acting as Resistance is near PRZ Zone . . . Note : Previously I have Posted Harmonic Analysis on Higher Time Frame including Daily, Weekly and Monthly. Some user asked me, try to post Harmonic Analysis on Smaller Time Frame. So I am posting this first analysis on smaller Time Frame.
NSE:SBICARDShort
by VIJAY_ARUN_SURYAWANSHI
8
JKLAKSHMI's Anti-Shark and Bat Patterns, Potential TargetsIn this post, we will conduct a comprehensive analysis of JKLAKSHMI, focusing on the formation of the anti-shark and bat patterns on the chart. Additionally, we will consider the impact of a rumored reduction in Goods and Services Tax (GST) on cement products, which could potentially influence the stock's performance. Let's delve into the analysis and gain insights into the situation. Chart Analysis: Upon examining the provided TradingView chart for JKLAKSHMI, we can observe the formation of both the anti-shark and bat patterns. These patterns provide potential trading opportunities for investors. The bat pattern has an activation zone at 688.5, suggesting a potential bullish reversal if the price reaches this level. The first target for the bat pattern is set at 715.2, with the second target at 738. It is important to establish a stop loss at 655 to manage risk effectively. The anti-shark pattern has an entry point at 693, indicating a potential bullish reversal. The first target for the anti-shark pattern is set at 719, with the second target at 741. A stop loss at 660 is recommended to limit potential losses. Support and RSI Analysis: The daily chart of JKLAKSHMI displays a weak trendline support, further enhancing the potential significance of the anti-shark pattern. A buying price of 660, with a small stop loss of 645, is suggested for trendline traders. However, it is essential to exercise caution and ensure confirmation through other technical indicators and price action before making trading decisions. Additionally, the daily Relative Strength Index (RSI) is in the oversold zone, indicating that the stock may have been oversold and could potentially experience a rebound in the near future. While this can provide a supportive argument for the bullish case, it should be considered alongside other factors and indicators. Impact of GST Reduction Rumors: It is crucial to consider the potential impact of the rumored GST reduction on cement products. If the GST rate on cement products is reduced from 28% to 18% in the next GST meet, it could have a positive influence on cement manufacturers like JKLAKSHMI. Such a reduction could potentially lead to increased demand and improved profitability for the company, which might positively affect its stock price. Conclusion: Based on the analysis, JKLAKSHMI exhibits the formation of the anti-shark and bat patterns, which suggests potential bullish reversals. Traders should carefully monitor the price levels mentioned, along with the suggested stop losses and targets, while considering additional technical indicators and price action for confirmation. Furthermore, the rumored reduction in GST on cement products could act as a catalyst for JKLAKSHMI's stock price. Investors should stay informed about developments surrounding the GST meetings and subsequent decisions. However, it is important to note that trading and investment decisions should be made after thorough analysis and consideration of both technical and fundamental factors. It is advisable to consult with a financial advisor or conduct further research before making any financial decisions.
NSE:JKLAKSHMILong
by yaashul
CanFinHome: Weekly Chart Analysis Signals Bearish MomentumIn this technical analysis article, you can examine the CanFinHome weekly chart and evaluate various indicators and patterns to gain insight into potential price movements. We focus on horizontal resistance, Elliott wave theory, daily RSI, anti-shark patterns and price action to estimate the future direction of the stock price. Weekly horizontal resistance: The first significant observation on the Can Fin Homes weekly chart is the presence of a pronounced horizontal resistance level. This level creates an obstacle to price gains and often results in stock trend reversals. Traders and investors should monitor this level closely as it could put strong selling pressure on stocks. Completion of the Elliott Wave: Based on Elliott Wave theory, Can Fin Homes appears to have completed the 5th wave. According to this principle, 5 waves are usually completed followed by a correction phase. This indicates a possible stock trend reversal, increasing the likelihood of a downtrend. Daily Overbought RSI Range: The Daily Relative Strength Index (RSI) is an important momentum indicator that helps identify overbought and oversold conditions. In the case of Can Finn Holmes, the RSI on the daily chart is in overbought territory, indicating that the stock may face a downside or consolidation phase. This further underscores the pessimistic outlook for the stock. Weekly shark action chart pattern: Another notable pattern on the weekly chart is the presence of anti-shark patterns. A variation on the famous shark pattern, this pattern features a rapid drop in price followed by a strong reversal. An anti-shark pattern suggests that stocks may fall before a potential upside reversal. The price spread suggests a premium zone around 720: Analyzing price movements on the weekly chart, we can see that Can Fin Homes is hovering around the 720 level. This points to the existence of a potential premium zone where sellers can start to dominate and push prices down. Traders should closely monitor price action around this level for further confirmation. Trading settings: Based on the analysis of the indicators and patterns above, the possible trade setups are: Entry: 697 Goal 1: 679 Goal 2: 663 Stop loss: 719 Conclusion: In summary, Can Fin Homes' weekly chart-based technical analysis points to bearish momentum for the stock. The presence of horizontal resistance, the completion of the 5th Elliott Wave, the daily RSI in the overbought region, the anti-shark pattern, and price action suggesting a premium area around 720 all point to a potential downside for the stock. However, it is important to remember that technical analysis is not absolute and traders should always consider other factors and risk management strategies before making a trading decision.
NSE:CANFINHOMEShort
by yaashul