L&T Finance has been in a long-term downtrend falling wedge, that has beautifully drawn out into an Inverse Head & Shoulders reversal pattern.
The stock is now trading above all its long-term moving averages, which provides strong support to push up towards the targets indicated.
Breakout of a falling wedge is a bullish reversal, which has taken support of the 89/100 EMA.
A re-test of the breakout has taken place, and targets over the short to mid-term have been mapped out on the chart.
Federal Bank is one of the Big Bull Rakesh Jhunjhunwala's big bets.
The stock has broken up above the downward trendline forming since March 2021, with a downward trendline formed since October 2017 very close above it.
Federal Bank is seeing some consolidation in this range before it makes the next leg up above the second trendline.
After taking the support near 665 zone, stock is forming HH HL on shorter time frame which can be taken as first signal for short trend reversal . one should go long on cmp with SL of 740 & look for the tgt of 780/800 zone.
In the daily timeframe, m_m is forming a descending triangle. This pattern has more chances of giving a bearish move but in this case seeing volume, candles and ema, there is more chance of a breakout. You can watch this stock to trade on Monday.
The big upside move yesterday in ZEEL ended up closing the day with it's resistance breakout.
The further targets are marked in the pic at app 307 & 402.
Though due to the big price move yesterday leading to a such a big candle, the Stop Loss seems to be quite big.
This also leads to a probability of stock going sideways.
Hence, it will be prudent to wait for...
The charts clearly shows short term bearish RSI divergence coming in the way of a Rising Wedge pattern on the Daily charts of SGX Nifty.
Last week Friday ended up forming a Spinning Top in SGX Futures while Spot formed a Grave Stone Doji.
These are early waring signals that we may witness a downside as the market finds immense pressure at the moment to continue...
The daily chart of DLF has formed an Engulfing Bearish Candlestick showing signs of negativity coming into the stock.
One can go short only below a valid Break Down of support marked.
An upside channel can also be seen.
If the stock manages to close above the channel then it would generate buy.
Trade as per priceaction.
Mindtree (CMP: 2310) is moving in an ascending channel, if this channels is broken with with more than avg volume then long positions can be taken. Keep it in your watchlist and trade as per the charts