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Banknifty : Rising wedge break out with liquidity trap• BN was trading in a rising wedge from 7th May. • An event of liquidity trap for the sellers occurs on 9th of May when market traded below the wedge. • A Marubozu candle on 12th May opening indicate the big boys wants to move the BN upward and grab all the seller's liquidity. • A higher high pattern is clearly visible on the rising wedge with resistance and support trendline. • A consolidation of approximately one month indicates accumulation phase. • 06th of June opening candle broke the wedge. • A retest happens in next 2 days. • On 11th June a retest entry trigger on top of the wedge in opening hours. • A trade with 1:5 RR with a target of long run channel mid point. • Preferable a bull call spread due to recent volatility crash and high risk to reward. • Game is on. Just for educational purpose post.
NSE:BANKNIFTYLong
by trader_ghosh
Tirumalai: The Anatomy of a BreakoutOn the daily chart, TIRUMALCHM appears to be approaching a potential breakout from an ascending triangle pattern, a formation often associated with bullish continuation. Notably, the price has managed to close above all key EMAs, including the 200-day EMA, which is widely regarded as a long-term trend indicator. From a momentum perspective, both the RSI and MACD indicators are showing strength on the daily and weekly timeframes. These signals may suggest the early stages of a sustained upward trend, contingent on broader market conditions and follow-through price action. Given the current technical setup, the stock may be considered for gradual accumulation near the CMP. Alternatively, more conservative participants might prefer to wait for a potential retest of the breakout zone in the coming sessions, which could offer a more favourable risk-reward entry with a next long term resistance of ₹340 . A technical invalidation level could be considered below the ₹251 mark, depending on individual risk tolerance and trading strategy. Disclaimer: This analysis is intended solely for educational and informational purposes. It does not constitute investment advice or a recommendation to buy or sell any financial instrument. Market participants are strongly encouraged to conduct their own research or consult with a qualified financial advisor before making any investment decisions.
NSE:TIRUMALCHMLong
by NiftyNotion