Shortsetup
Ultratech - At Crucial LevelThe stock price has doubled since June 2022. As per the chart, has been traveling in a rising parallel channel. This time resting at the upper edge. If the price is rejected here, there may be some correction time ahead.
One has to decide the entry and exit levels very wisely.
This illustration is for learning and sharing only. Not a piece of trading advice in any form.
The setup fails if the price breaches the channel above and sustains.
All the best.
AU Small Finance Bank Analysis! NSE:AUBANK Weekly Analysis!
Double Top Pattern Formation is AUBANK!
Double Top Pattern breakout in AUBANK!
RSI Divergence!
AUBANK crossed 50,100 and 200 EMA, will is leads towards further downtrend?
Analysis:( Only for Pattern Analysis )
NSE:AUBANK formed Double Top Pattern on a Weekly time frame. We can clearly see on the chart that previous trend was uptrend and Double Bottom ideally formed after an uptrend so it's a valid scenario to be move ahead with the Double Bottom or M Pattern. I have done complete analysis on the chart so please have a look on it.
Trade Psychology and Setup:
Entry = Current levels are not good for short(570-580)
Target = 495.70
Stop Loss = 674.95
Disclaimer = All my analysis is for Educational Purposes only.
Before entering into any trade -
1) Educate Yourself
2) Do your research and analysis
3) Define your Risk to Reward ratio
4) Don't trade with full capital
Head and Shoulder Pattern in ICICI bank
Today price break the trend line. As we can see price create a head and shoulder pattern. It's indicate that price will go down with in couple of days.
Indicator:
MACD divergency.
Support 1: 1042
Support 2:1032
if we can see a bearish candle create near 1042 then we can take short position target of 1032 .
Short Opportunity in Reliance - Long Term Resistance ZoneSymbol : Reliance
Trading Idea : On daily and weekly TF, It looking like a consolidation & breakout but as per my analysis, Reliance is currently Trading at 2 year resistance zone & this breakout may fail as the stock is already given a huge upmove on weekly TF.
One can go short at current levels of 2640-2670 with SL of 2710.
Target 1 : 2545
Target 2 : 2485
NIFTY... ALL SET FOR A CORRECTION...21830 remains a stiff resistance for NIFTY.
After a good bull run, I expect a decent correction in our markets.
The euphoria attached to Ayodhya and the Budget is over now, and the Market has to face the next uncertainty in the form of Elections in a few months.
As per Elliot wave analysis, Nifty is likely to fall by 1400 points over the next ten days. (I'm expecting it by Feb 9, though time analysis may not be accurate).
1400 points fall correlates to 1.618 of fibonacci and also fills the gap formed in nifty around 20300 levels.
The market is always right, and it can always surprise us. So trade with caution.
NESTLEIND - Evening StarNESTLEIND - Watch out for a good breakdown/ shorting opportunity in 1D timeframe.
A few points to note:
1. There is a weekly reversal sign (bearish - Evening star pattern)
2. The stock is below 50DMA
3. Ascending wedge pattern - Usually is a bearish sign.
4. Overall on a higher timeframe, the stock is rallying - hence it is wise to be cautious and have a hedge.
Imbalance $65 | Short BiasOn day chart
ELGD has created imbalance around $65. Besides, ELGD's in consolidation phase $48 - 60
The previous signal when ELGD closed below $55 that is signal for reversing if price can't close above $73
So I think ELGD pullback to higher then drop to Golden Ratio at $40
Wait for next move
Dow Jones - Time for Reversal?After rallying steep for about 10 weeks, Dow Jones currently trading at 37,400 levels.
Dow Jones is currently trading within a narrow range of 400 points between 37,300 & 37,700.
37,500-37,700 is now an important resistance zone & Dow Jones must break 37,700 to move further up.
On breaking and closing below 37,200 level, Dow Jones can test 36,200 and 35,500 levels.
Short position can be taken below 37,200 for targets 36,200 and 35,500 with SL 37,550.
POLYCAB - Weekly Channel pattern - Read description carefullyPOLYCAB - Although the company has corporate governance issues, there could be good swing trading opportunities in the stock.
My thoughts (not a trading recommendation): 2 scenarios -
I'd go long if the stock takes support at the channel bottom with good price action & reversal candlesticks. My stop loss will be if the channel breaks.
I'd go short if the channel breaks with good volumes and my stop loss will be if the stock comes back into the channel.
Bajaj Finance : Free fall on the way ?? Alert! Bearish Pattern Spotted! 🐻
📊 Pattern: Rising Channel
📌 Symbol/Asset: BAJFINANCE
🔍 Description: Stock has made Broadening pattern and then not able to cross the resistance.
Now stock is making Rising channel and its near to the resistance.
If resistance is not broken then
We can see fall from 8250-8350 levels.
👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation.
GIFT NIFTY : A Big Fall is on the way ??Alert! Bearish Pattern Spotted! 🐻
📊 Pattern: Possible Broadening Pattern
📌 Symbol/Asset: GIFT NIFTY
🔍 Description: Gift Nifty is might be making Broadening Pattern and we can see support around 21100-21200 range
Then Index can bounce upto 22300-22500 levels.
And Finally if Resistance is not broken then we can see huge fall of 2000-2500 points !!
Keep Tracking so we can see other possibilities and patterns which are in making
👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation.