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Symmetrical Triangle

Beautiful Breakout in UCO BANK.Good morning Traders. Here is the technical analysis of UCO Bank we all should know. >> Chart is self explanatory but to elaborating more Stock was consolidating in Symmetrical tringle pattern since 9 months. Where it has made a beautiful support and resistance lines in triangular shape and gave a Nit and clean breakout. >>In the weekly time frame, we can observe that it had previously given a rectangular breakout after 15 months of consolidation and went up by more than 150%. Now, after this previous rectangle breakout, a recent triangle pattern has emerged, appears more of a flagpole pattern in weekly TF. These increase the likelihood of success for this stock. >> Over the past decade, the stock has undergone a substantial correction of over 90%. However, upon examining its financials, it appears to be more stable and promising, as its non-performing asset (NPA) ratio has consistently decreased. >>Now, we can consider entering the trade if it continues to sustain above the breakout line. Our target could be a minimum of 20% at the 37 level, while it's important to set a stop-loss at 13% below, around the 26.80 level. Do consider pressing the boost button🚀🚀, It helps me bring more interesting analysis. And if you've any question and suggestion please feel free to post in comment section. Please note I am not SEBI registered. Do your own research before investing.
NSE:UCOBANK
by BullishLine
Breakout alert in CSB bank.>>Stock has been in an uptrend since last year. >>Over one year, it has been following a special trend line. >>Since January 2023, it has slightly changed its direction and is now forming a beautiful symmetrical triangle pattern. >>Today, it has reached its resistance level and appears promising to break it. >>If it breaks the trend line, we can initiate positions with a 1:1 risk-reward ratio as explained in the chart. >>PSU banks were in the limelight today due to their exceptionally good Q1 results. >>CSB banks also performed well, suggesting a brighter future for this stock.
NSE:CSBBANK
by BullishLine
Gujarat GAS LTD | Good Opportunity Hello Friends, Here is another stock am looking for to make position. Because 1. In sector rotation this stock / sector is in red zone means oversold zone so now it has time to come back. 2. In consolidation since long time 3. Triangle pattern which looks to strong break out up side. 4. can be small / short term swing trade for 20-30 points profit. 5. Or Good and Best for long hold 6. This sector are booming in futures so there will be good return on this stock. So these are the points that i find for this stock. So make your own analysis for this stock and give your comments. * This is not suggestions or recommendation for stock. Do analysis and trade on your own risk management. Like | Share | Comment Thank you
GLong
by apstockanalysis
Rain might Make it HailRain industries is currently in a symmetrical triangle pattern resting on the 200EMA and is on a strong area of confluence which is acting like a support zone, it is also supported by a moving average right below which is the 50EMA which gives us 3 major support zones. Looking deep into the volume of the consolidation, you can see that the consolidation was on low volume and a good green candle has formed with good volume showing buying at that level. Normally when the market breaks out, we miss the best entry, to prevent that, we indulge in a riskier trade with the help of position sizing giving us maximum gain and minimum loss. What is position sizing? It is when you first add half your position to check If the market is saying you are right or wrong, if the market moves in your direction, you will add your second half and tighten your stop loss. This way you add two positions but one only when the market shows you that you are correct. Example: Suppose your risk is 100 per trade, You first buy enough Qt to risk only 50 ( Typically with a larger stop) and if the market forms a green candle or another bullish sign, you add another Qt to risk 50 more ( Total risk 100) and your second stop loss becomes tighter ( most probably at the breakeven of the first position) this way you minimise your loss but ur reward is the same and even more. If your first stop gets hit, you accept your mistake and move on. Add to more on break of triangle Target with a good risk to reward Stop loss below 50EMA Keep It Simple
NSE:RAINLong
by Krish_Kohal
Significant breakout in JTL IND.Happy Friendship day to all my fellow Traders! -> As already Explained from chart JTL INDUSTRIES has given a remarkable symmetrical tringle breakout. -> Since 8 months It was in consolidation phase forming a beautiful tringle pattern. -> After successful breakout it has retraced back to its breakout point multiple times and started accumulating, Then again in a last trading day it made a fairly big green engulfing candle which covered its all previous candles. That made this pattern more efficient and more convincing. ->In the latest quarterly earnings report, the stock did really well. Please have a look at its 10 years financial data. Pros. *PE- 32 *ROCE- 37.6 % *Reduced debt. *Profit grew 62.5% annually for 5 years. *Strong 34.5% ROE over 3 years. *Improved debtor days from 49.5 to 32.9. *Consistent 22.6% median sales growth over 10 years. Cons. *Over the last 3 years Promotor holding has reduced by 15.7%. *Company still falls under small caps that makes it a bit volatile. (But overall its growth looks promising in a long run.) ->Now this stock is ready to be traded/Invested, one can put stoploss of 370 and go further depending upon the patience level. But anyone who is convinced in its long turn growth then they can invest more when it gives a pull back. Do consider pressing the boost button🚀🚀, It helps me bring more interesting analysis. And if you've any question and suggestion please feel free to post in comment section. Note I am not SEBI registered. Do your own before investing.
NSE:JTLIND
by BullishLine
Tata Chemicals rangebound Tata chemicals has formed a beautiful symmetrical triangle pattern and requires traders to trade the range, buying at the lower trend line and selling at the higher. It has also formed a golden cross- When 50EMA passes 200EMA from below showing bullish nature. A break of the lower trend line will see an end to the trade, making it a risky one.. Hence we should position size in a smart way. What is position sizing? It is when you first add half your position to check If the market is saying you are right or wrong, if the market moves in your direction, you will add your second half and tighten your stop loss. This way you add two positions but one only when the market shows you that you are correct. Example: Suppose your risk is 100 per trade, You first buy enough Qt to risk only 50 ( Typically with a larger stop) and if the market forms a green candle or another bullish sign, you add another Qt to risk 50 more ( Total risk 100) and your second stop loss becomes tighter ( most probably at the breakeven of the first position) this way you minimise your loss but ur reward is the same and even more. If your first stop gets hit, you accept your mistake and move on. I would suggest to risk only half of what you normally risk on this trade since the risk to reward is very favourable with a small stop loss. Example- If you normally risk 1000 per trade, this time risk only 500 since the potential is the same reward with lesser risk making it a A+ set up. If a green candle or a bullish candle is formed at the trend line, we can add to more positions. Keep It Simple
NSE:TATACHEMLong
by Krish_Kohal
MANGALAM | INCOMING BREAKOUTMangalam Drugs has been attempting to break the 155 level, with its previous attempts getting rejected. But this time, with the solid foundation of a Double Bottom base, & a Symmetrical Triangle formed near the resistance zone, the chances of a successful breakout increases. Following points to note before initiating a Long trade: -------------------------------------------------------------------- 1. Price keeps getting rejected from a resistance zone around the 155 level. 2. This time, price breaks out of a Symmetrical triangle near the resistance zone 3. A double bottom base provides a good foundation towards the eventual breakout of the resistance zone Keeping the above points in mind, a long can be initiated as follows: Entry CMP SL 139 Targets of 1). 175.3, which is the Symmetrical triangle Pattern height, 2). 182.7 As always, keep your risk appetite mind before taking any trade. And always enter your SL first.
NSE:MANGALAMLong
by Divergent_trader
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