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Supportandresistancezones

KPIL - Swing Trade Analysis - 7th April #stocksKPIL (1D TF) - Swing Trade Analysis given on 7th April, 2024 Pattern: ASCENDING TRIANGLE - Volume buildup at Resistance - Done ✓ - Resistance Breakout - In Progress - Will look at a partial entry at the break of the Resistance and pyramid into if it moves up quickly - However, if there is a retracement from the Resistance then I will average into once (if) the lower trendline is respected with a proper pullback - This will also give for a better RR and a smaller SL * Disclaimer
NSE:KPILLong
by TradeRyteStockz
LT- A bullish pattern & AnalysisHi, I bet most of you would be familiar with this pattern and some of you might have even traded it. I would still not name it here and look for your answers in the comment section below. Action near resistance zone You can see that the stock has been in a strong uptrend but faced a resistance near 3700 zone or level A(see chart). Observe heavy volume gap down in January from this level and the stock took almost 2months to finally get through 3700. The second reaction The stock reacted for the second time from 3700 in the first half of March but could not break the low B. Rather it made a higher low C and then broke out of A. Retest of an important zone The stock is pulling back to 3700 to test if any supply is still there. If 'holds' here, we can expect 4000 or 5000 psychological level or may be higher if there is overall market support. Another simple method used by most traders is to measure the height of this pattern, that is from A to B and then add the number to A. This will give a probable figure 4150-4200. Simple is not always easy Hold near 3700 means a bullish candle, which should be enough to take the trade. It could be a Doji, Hammer, Marubozu etc. Bearish Scenario The opposite scenario could be that the price pushes strongly below 3700 again, which might turn the tables for a bearish action. #For any bearish opportunities, one should wait for price to actually trade below C and then show further weakness (weak pullbacks etc. on the upside). I hope this idea added to your knowledge. Don't forget to press🚀 and name the pattern or your experiences with this pattern below💬 Enjoy the new chart type (Volume candles) on TV⚡
NSE:LT
by Bravetotrade
17