Sideways breakout, trend to continue upwardsAfter a long term uptrend, went sideways for short time of week or so. Breaking out today from the range, expected to continue the ongoing trend.
Sidewaysconsolidation
Target 1 achieved in Siemens | 5% mover This idea is a follow-up to Siemens
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Banknifty bearish viewi think market wii be sideways to bearish tommarow my analysis is only for educational purpose
Make or break - ATH till ?After a very sharp uptrend movement, stock is consolidating sideways for a long time.
If a major resistance is break with high volumes we can see further upside movement for the ATH.
If a major support is break with high volumes we can see further downside movement.
How to trade in and out of a sideways range?Horizontal price movement is seen when the powers of demand and supply are roughly equal, thus forming a "sideways trend". This usually occurs during a period of consolidation before the price continues a prior trend or reverses into a new trend. A sideways trend is also sometimes referred to as a "horizontal trend".
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An important indicator is volume, which usually remains flat during a sideways trend as the bulls and the bears balance out each other. A surge in volume is seen when the breakout or breakdown is expected to occur.
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Ways to profit from a sideways trend :
1. Typically traders will try to capitalize on breakouts or breakdowns, to try and ride the momentum in the direction of the break, thus generating profits. But breakouts are prone to failures, so a more prudent approach can be to wait for a re test of the level price broke out from and then initiate the trade.
2. If the price regularly rebounds from the support and resistance levels as can be seen in the chart, traders may try to buy the security when it nears the support levels and sell it when the price nears resistance levels.
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Now, as we can see that the price of IGL was bouncing around in the sideways channel. It failed to move past 545 on 09.04.21 and 11.06.21. Similarly it bounced back from 500, at 5 occasions, on 25.03, 06.04, 19.04, 30.04 and 21.05.21. It finally broke out above 545 with above average volume on 29.06.21 and soon made a high of 584.
It travelled almost the width of the range after breaking out as is expected. And then it started pulling back and has touched the top of the range. A continuation candle with strong volume has occurred now.
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A long can be initiated with the following levels in mind if the price sustains above the "LONG ABOVE" level for 15 minutes.
LONG ABOVE: 548.70
STOP LOSS: 534.80
TARGET 1: 562.60
TARGET 2: 576.50
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Analysis on demand of Subscriber | #1 | IndusTowersA weekly supportive level with a daily trend line that too supportive if both broken downwards cant give u good momentum unless a big gap down takes places with follow-up selling on it making it a gap down power candle (RED). Well, we can't see that happening here + it also has good resistance on the upper = it needs a big (green) candle power one with volumes above average to make it bullish for the future too. Thus a side way momentum is generated in such cases.
I would have a neutral approach on this stock unless any one things of the 2 mentioned above happen.
I hope u like what I see and help u people in any way...
Happy trading :)
Consolidation phase expectedNifty taking support at 100EMA (wkly) as well as a strong weekly trendline. Expecting a sideways phase of 2-3 months in a small range of 10800 - 11100 before it breaks the trendline to travel towards 10000 level. Swing traders need to be careful in this period. It will be safer to go for intraday moves and not carry position overnight
Wipro | Approaching Range bottom Wipro is trading sideways between 280 and 300 as we could see in chart. Currently the stock is in the lower bottom of the range making it an opportunity from Risk-Reward perspective to go long.
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