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Supportandresistancezones

Anupam Rasayan - Inverse H&S Breakout on Weekly ChartChart patterns are the most loved trading strategy among traders. There are different kind of patterns traded in stock market. One of which is inverse head and shoulder - a trend reversal pattern. Upon formation of this pattern the stock trend get reversed. Generally if the stock is in consolidation phase then this pattern is seen. Now here I have observed inverse head and shoulder pattern formation in one of the chemical manufacturing company in India named Anupam Rasayan India Ltd. On closely observing the chart, I found that the stock is in downtrend since May 2022 after making a high of 1234 and remain in downtrend till Oct 2023. Now the fresh uptrend in the stock is supported by inverted head and shoulder pattern which signifies that the stock can continue the uptrend in coming months. The targets for this stock can be found by projecting the depth of head just after the breakout which comes around 1320. Also the stop loss for this trade can be put at the depth of right shoulder which is around 990. Disclaimer: The stock shared is only for educational purpose and does not hold any buy or sell recommendations.
NSE:ANURASLong
by Vipin_Dixena
CAMLINFINECAMLINFINE Symmetrical Triangle Pattern Actually this chart pattern is very beautiful. Technically, while doing analysis, entry is taken after breaking the high or low of the retest after the breakout. But it has been observed that this pattern brings a lot of money. Targets are met. So it is important to be patient for some time. However, what I think is that if the market gives a positive response by buying, then there will be a bullish signal and the targets will be 10%, 15%, 20%, 25%. for MORE check in my TradingView ID If You LIKE MY Idea ……Boost………….. its “Disclosure : I am not Sebi-registered.” This channel is for only educational purpose. Any profit/loss, I am not responsible. Before taking any trade on our charts /calls , please consult your financial advisors. Thanks [/b
NSE:CAMLINFINELong
by asAMOLSUTAR
BTCUSD Analysis- Shakeout or Pullback🤷‍♂️In the monthly chart, on the left-hand side, it can be observed that 2017 highs acted as a strong resistance. But once this level was taken out, it started acting as a support in 2022. Holding the very basic idea that a resistance once taken out, start acting as a support. You would observe this concept several times on this chart. On the right-hand side, we can see a shift in structure from LL-LH to HL-HH formation near the above-mentioned levels (2017 highs). It was analyzed and explained in the following idea- The resistance area of 25200 was broken out in March2023 and later tested twice in June and September2023. We can see a range creation between 31200 and 25200. The 25200 resistance now acted as a support and the range broke out in October2023. It continued higher with a small area of consolidation in-between November, which finally broke out this month (December). Currently we are facing a pullback from near 44700 to 40132 on this chart. The volume was high during this pullback but there is no follow through. This is indicating that this pullback could be just a shakeout. ⚡I would discuss three scenarios here for different type of traders: -Overtly Bullish -Moderately bullish -Cautiously bullish 🚀Overtly Bullish- This is the most probable scenario at this point and is suitable for short term traders. Market will resume higher after the shakeout. There is a wholesale entry near 40000-40100 zone with stop below this zone. Targets could be 44500/48200 for short term. 🚀Moderately bullish- As per this scenario, we have stretched too far and expecting further pullback. This scenario is suitable for those who have intermediate term perspective. In this case 38000 (previous resistance) may act as support, so a bounce play could be an option from there. The stop would be below 38000 and target 44500 or higher. 🚀Cautiously bullish- This scenario is for those who are looking for longer term opportunities in the market. They would ignore entries near the higher prices and wait for deeper corrections. For them expect a break till 35000/33400 could be best where more buyers would show up in the October2023 breakout zone. Which category do you belong to? Write in the 💬section below. Do boost🚀the idea if you think it was informative. Regards. Disclaimer: The levels discussed are for educational purpose only and not a trading or investment advice.
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INDEX:BTCUSDLong
by Bravetotrade
14
MGL : Best Bearish setup : Long term Resistance zone Alert! Bearish Pattern Spotted! 🐻 📊 Pattern: Broadening Triangle Pattern 📌 Symbol/Asset: MGL 🔍 Description: Stock is around long term resistance zone. and on a smaller timeframe stock is on the resistance of broadening triangle pattern. One can take short position from here. This is the best short trade setup for now !! 👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation.
NSE:MGLShort
by FiveCircles
2