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Trendfollowing

Mankind Pharma Ltd - Cup with handle pattern formationThe cup with handle pattern is a bullish chart formation resembling a cup with a slight consolidation (handle) on the right. A trading strategy involves entering a position when the price breaks above the resistance level at the top of the cup, ideally after confirming bullish momentum. Mankind Pharma is forming a cup with handle pattern on the hourly timeframe, signaling potential bullish movement. The handle has formed on a flat base, reinforcing the bullish setup. Where the prior resistance become support (Support-Resistance Flip). Chart Structure: Price is creating higher tops and higher bottoms, indicating a strong uptrend where as RSI is trending higher and remains above 50, confirming positive momentum. Trade execution planned above 2835,anticipated target is above 3000, suggesting substantial upside potential if the breakout is confirmed. SL would be the last higher swing low.
NSE:MANKINDLong
by Arvind_Share_Academy
18 Mar ’24 — Is Nifty above or below 22051? Check Chart closelyNifty Analysis - Stance Bearish⬇️ Recap from yesterday: “The only reason we pushed through the resistance yesterday was because of NiftyIT. And today NiftyIT started with cuts of -0.9%. Do you agree with me now that the main villain is NiftyIT which is preventing Nifty50 for a smooth directional trend?” 4mts chart Is Nifty above or below 22051? I must change the stance from bearish to neutral if it's above. If it's below - then the bearishness continues. As per the chart, Nifty closed at 22051 while the weighted average close was 22055. For some reason or another, I did not feel like punching manual orders today, I just let the algo orders do their magic and was keenly watching the chart and doing nothing. I got a bit excited when Nifty started falling i.e. 11.11 and 11.15 candles when Nifty went till 21916. My marked support was at 21913, so the eagerness was to check if we would break that or not. If you take a look at the chart, we had multiple instances of touches at 22051 levels, by 14.19 I almost felt we were breaking out and then the bearish positions may go into deep losses. Somehow or the other, I am not able to relate to the price actions of Nifty50, NiftyIT, and BankNifty these days. All 3 of them are never in agreement and you club the “weak hands” holding the CE shorts - a recipe for disaster. The CALL sellers run for cover now and then creating the quick ripples, and then it fades out 30mts hence. You won't believe me if I said Nifty50 has made a W pattern (double bottom) on the 63mts timeframe. Take a look, you could spell the entire “W”. Interestingly it has formed at the crucial support of 21913. The only thing that could override this W pattern is the lower high, lower low formation. LH, LL will take precedence over a short-duration pattern all the time. For tomorrow, I would like to start the day with the bearish tone itself and see how the 22051 resistance holds. 63mts chart
NSE:NIFTYShort
by viswaram
USDJPY Downtrend AnalysisTrade Analysis : Swing USDJPY Downtrend Trendline analysis on USDJPY Trend Identification: Swing Downtrend USDJPY. Support/Resistance Levels: Identify key levels on the chart for potential entry and exit points. Price Behavior: Daily Bullish pullback with market structure. Targets: T1 = 143.375, T2 - 143.00. Check for Entry and Stop-loss. Risk Management: Set appropriate stop-loss levels to manage risk and protect against adverse price movements. Confirmation Indicators: Support/Resistance Levels, Higher High, Higher Lows. Conclusion: Based on the chart analysis of , USDJPY is Downtrend has been identified. Combine this analysis with thorough research and risk management strategies to make well-informed trading decisions. Avoid counter-trend trading. Happy trading! (Note: Trading is subject to market risk. This is analysis not an trade idea for trade.)
Short
by JagadishSinghR
USDJPY Swing Downtrend AnalysisTrade Analysis : Swing USDJPY Downtrend Channel analysis on USDJPY Trend Identification: Swing Downtrend USDJPY. Support/Resistance Levels: Identify key levels on the chart for potential entry and exit points. Price Behavior: Daily Bullish pullback with market structure. Targets: T1 = 139.00, T2 - 137.50. Risk Management: Set appropriate stop-loss levels to manage risk and protect against adverse price movements. Confirmation Indicators: Support/Resistance Levels, Higher High, Higher Lows. Conclusion: Based on the chart analysis of , USDJPY is Downtrend has been identified. Combine this analysis with thorough research and risk management strategies to make well-informed trading decisions. Avoid counter-trend trading. Happy trading! (Note: Trading is subject to market risk. This is analysis not an trade idea for trade.)
Short
by JagadishSinghR