Get started

Sterlitetech

Sterlite Technologies LimitedThis one stock is roaring bullishly in this bearish market, the stock has been rallying since the last three sessions and there seems to be no stopping in near time. After yesterday’s 4% rally, the stock again surged 4% in the early trade, as its demand is not seeing any signs of suppression. Finally, today it has given breakout with good intensity of volumes on daily time frame. If you think that the majority of the move has been missed, then you should have a look at the daily chart of the stock, which is eye candy to the bulls. Today, the stock gave a breakout above the trendline resistance of a symmetrical triangle chart pattern, after a long contracting range. Also chart pattern like cup n handle was broken today, along with lots of indicators supporting same bias, also wave structure is suggesting bullish impulsive bias. Elliot wave structure on daily time frame Breakout from symmetrical triangle with good intensity of volume Cup n handle chart pattern Price closed above RK's Magic level and also closed inside Mass psychological cloud in daily time frame MACD positive crossover and uptick above zero line in daily time frame MACD positive crossover and uptick in weekly time frame RSI uptick and above 60 in daily time frame Price challenging upper band in daily time frame DMI ADX positive in daily Price above 50, 100, and 200 DEMA's Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
NSE:STLTECHLong
by RK_Chaarts
3
Complex Inverted Head & Shoulder Breakout** Inverted Head and Shoulders- The inverse head and shoulders occurs when a downtrend reverses into an uptrend, and is basically the head and shoulders pattern we have just analyzed turned H & S pattern . As such, it’s really just a gradual change in the direction of the trend, marked by a penetrated trend-line and weakening of the current trend. ** The Complex Inverted Head and Shoulders _ Of course, everything is not straightforward, particularly in the trading world, and you won’t always get a perfect copybook head and shoulders pattern. One variation that you can find is called the ‘Complex Head and Shoulders Pattern’, and this is a more complicated version which includes extra parts. The extra parts include a double head or double shoulder – basically the trend is taking longer to turn from one direction to the other. This pattern has the same forecasting ability as the normal pattern, and you can run through the same principles to see why. This is not a very common occurrence. Because the head and shoulders is so widely known, you may find that other traders beat you to the punch in trading the reversal, and you lose some of the move. For this reason, you may find traders that don’t wait for the confirmation of the pattern before they enter the trade. For instance, some will anticipate the completion while the right shoulder is still in formation, and start entering some trades. In this stock scenario Complex Inverted Head & Shoulder breakout already happened with high volume . so that the basis of this pattern i am bullish on Sterlite Tech limited. Kindly Let us Know if you have any question . Thank you
NSE:STLTECHLong
by PrasantaP