Get started

Trendlinerejection

Godrej Properties -SELL Technically it is forming a lower high lower low structure which indicates that the stock is in downtrend and with this it is also facing a downward resistance trendline and this can be seen when the inverse head and shoulder formation was formed and it failed to break through the trendline and thus eventually created a false breakout. Thereafter we can see an inverted flag forming and achieving its target. Now it is forming a descending triangle pattern on daily chart and a head and shoulder on the weekly time frame both indicating downwards movement within this period. Thus taking a short positions is more favorable than long ones due their higher probability rate for success here according to these indicators with the 14 day RSI confirming the trend. A sell position can be taken with a daily closing below 1130 with a Sl of 1160 and a downside target of 1100 and 1070. Confirmation from other tools like Fibonacci Retracement levels & 14-day RSI provide additional support towards my assessment being correct; suggesting further confirmation before executing the trade
NSE:GODREJPROPShort
by vedgawkar
Gold: Analysis✔Gold was holding 50200 since mid of May. It held this level at three occasions (see chart) but finally broke it in the mid of September. ✔So, a lot of traders who bought at 50200 support, with stop loss underneath this level, were shaken out in this breakdown. Most would have reversed their positions to short. Gold revisited 50200 in a retest attempt and this normally attracts pullback traders to go short. So many short positions are supposedly added till the end of September, with stop loss just above 50200. ✔But as Gold managed to sustain above 50200 again, most stop loss orders got triggered leading to short covering. Everyone who was shorting below this level, had to buy in order to close their positions. Also fresh buyers would look to catch this opportunity. This huge flux of buy orders lead to a sharp rally. ✔Presently it is near 52000 round number which has acted as an important level in the past too. Also there is trendline resistance, joining April and August highs at around 52100. ✔So two things can happen around above resistance levels. Either buyers would absorb supply at resistance and push Gold to next resistance 52750-52800 in the short term or profit taking/sellers would push it back to 51000 or 50200. Only further price action would throw more light upon this. Thanks for reading. Do not forget to like for more such ideas in future.
MCX:GOLD1!
by Bravetotrade
3
KRITI INDUSTRIES DAILY CHART ANALYSIS AS ON 11.02.2022 POSTED 10.02.2022 for KRITI INDUSTRIES above 123 for a Target 128. Today 11.02.2022 stock couldn't break the Trend line to reach buy level. Market turned out to be bearish due to higher inflation in USA and more increase in fed interest rates.Market will continue to be volatile as DII are in buy and FII are in sell mode. Will update for any stocks only market turns positive for a buy and also any stock has the possibility to achieve Targets like NDTV which i had posted 10.02.2022.
NSE:KRITI
by UnknownUnicorn19608572
SHORT - Bearish Flag at Trendline Resistance - Risk/Reward 1:5Short < 1338 Stop-loss > 1403 Target 1000 Risk/Reward 1:5 Piramal Enterprise - Price broke the upward trendline on 4th September and pullback but faced trendline resistance at 1403 and fall back. Price made a bearish flag and breakout of the same is a shorting opportunity. On a daily chart, the price made a lower high followed by a recent lower low and that confirmed the daily time frame trend as down. Looking at the Weekly time frame price is already in a downward trending channel. It took resistance at the upper channel line of the channel and fall back. Also, the 0.382 Fibbo retracement level of the ongoing downtrend on weekly acted as a resistance.
NSE:PELShort
by Equity-Earningz
6
TCS - Trendline rejectionTCS NSE:TCS again got rejected at the long term trendline resistance which has been holding strong since Oct 1,2018. I can see that it formed a long Bearish candle and an Evening Star pattern on Feb 28. Good opportunity to shot for targets of 1940 and 1920 with stop loss a few points above the downward sloping trendline. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:TCSShort
by nano6yogesh
Maruti _ trendline rejectionMaruti NSE:MARUTI has again been rejected at the long therm downward sloping trendline. Also, Friday's large Bearish candle erased all of Thursday's gains and looks like there is a formation of an Evening Star like pattern. The stock may reach earlier support levels of 6700 and 6500. Good to short here with stop just above the trendline. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:MARUTIShort
by nano6yogesh
1
Infosys - Trendline rejectionInfosys NSE:INFY has been in a downtrend since October making lower swing highs. I can see that it again got rejected at the trendline resistance and formed a Bearish Engulfing candle. Shorted here with stop loss a few points above the trendline resistance for a first target of 625. A deeper correction can take it to 610. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:INFYShort
by nano6yogesh
1
ICICI Bank - Topped out ?After a very swift rally from 257 to 345 levels, looks like profit booking is due in ICICI bank NSE:ICICIBANK . I can see that the stock has failed to clear major trendline resistance and also got rejected at 78.6% of its previous downmove. Good opportunity to short here with a stop loss just above the trendline and a target around 311 levels. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:ICICIBANKShort
by nano6yogesh
IndusInd bank - Topped out ?IndusInd bank made a lifetime high around 2040 on August 3, 2018. However, with other strong banks like HDFC bank and Kotak bank coming off their highs, looks like IndusInd bank too will follow a similar path. I can see that the stock got rejected at its long term trendline resistance and is slowly moving down. Good opportunity to go short with a stop loss of 2050 and successive targets of 1950 and 1900. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:INDUSINDBKShort
by nano6yogesh
HCL Technologies – Downtrend resumes ?After a rise from the lows of 881 to 1022 levels, looks like HCL Tech NSE:HCLTECH has topped out signaling the end of countertrend. I can see that the stock has got rejected at the trendline resistance and also at 61.8% retracement of the previous downmove. Also, it has formed an Evening Star like pattern today as well as on July 13. Good opportunity to short here with a stop loss of 1015 for successive targets of 968 and 936. Keep an eye on result which is set to be declared on July 27,2018. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:HCLTECHShort
by nano6yogesh
1