Symmetric Triangle on Bank Nifty and it may break either side. BNF having limited upside due to EMA 50 lying on near to 18395, so price trend is downside. However, this triangle may break either side. "Safe Trade"
Trade (Spot Price)
Buy above - 18335
Target - 18395
Stop Loss - 18285
Reward Points - 60
Risk Points - 50
RSI above 50.
MACD on bullish crossover and Histogram on above '0' line.
Stochastic on bullish but in overbought level, so may be take some time to make correction.
Price lying above the EMA 50 and EMA 5/20 bullish crossover.
Buy above - 631
Target 1 - 637
Target 2 - 642
Stop Loss - 625
Reward Points - ...
GAIL is making a beautiful triangle with less white space and being compressed from both sides. This Coil when busted may give good trading opportunity. Please watch it and take advantage of it. Good Luck
It is been observed that the price action breaks out from a symmetrical triangle on a daily chart, indicating a strong selling and further weakness ahead. It is important to confirm the breakout with a close below 350 levels.
It is been observed that the price action firstly broke from a symmetrical triangle on daily chart, indicated bearishness in the price action. Now, the price action breaking new support levels and forming lower lows, again indicating further bearishness ahead.
It is been observed that the price action formed a big symmetrical triangle on hourly chart. Now the price action breaks and closes below the symmetrical triangle trendlines, indicating a confirmation on further bearishness ahead.
Target 1: 563 (next support levels)
Target 2: 550 (As per triangle measurements)
It is been observed that the price action forms a symmetrical triangle where the seller put their dominance and breaks to downside of the triangle. It is assumed that the price action shall further move down and reach to previous support levels.
It is been observed that the price action firstly breaks out from a symmetrical triangle formed on a daily chart. The price action touched the price levels of 915 which was previous support levels and bounced back quickly to 1080 levels which is previous support of the triangle acting as resistance. Now the price action is retracing and it shall go further down to...
I really don't know what to write in description, everything is in chart itself. I'm really bored with Fx markets, thats why posting equities :)
(i) Enter after valid confirmation only
(ii) Use tight stops, if we are wrong on direction, Tight stops help you to cut down loss
(iii) Check your risk & trade plan once before entering the trade
If any specific doubt...
On hourly chart, the price action breaks out from symmetrical triangle at the last hour of trading indication bearishness and dominance of sellers. It shall further go down on Monday.
Duration 1-2 days
It is correcting Wave 4 of Wave C in a consolidated triangle pattern, which is a continuation pattern. The break shall take the prices down to complete Wave 5. Kindly find the below attached chart to look for targets.
It is been observed in the price action of petronet that after a steady rally, it consolidates in symmetrical triangle formation where there is buyers and sellers indecision with price actions. On the previous symmetrical the buyers took control and we got an upside breakout with high volume and it rallied well to 340 levels.
Now, the price action has come again...