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Trendreversalpattern

NIFTY DAILY - 4/3/2024Index open with positive note and made all time high that is 22440. Index has formed Doji candle on the daily chart at the top of the market which indicates thug of war between buyers and sellers as the closing was near the opening levels. We may see trend reversal in near future. Next levels for nifty will be 22520 upsides and 22303 level downsides. ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:NIFTY
by radha_23
NIFTY DAILY - 21/2/2024Market falls from nifty’s new all-time high that is 22249 level and Bulls lose its winning streak in the market. Nifty formed shaven head candle on the daily chart which indicates participants are selling from higher level. Nifty has formed Bearish Engulfing Pattern on daily chart which indicates trend reversal. We may see further weakness in market. Nearest support will be 21986 level with resistance of 22381 level. ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:NIFTY
by radha_23
SAREGAMA looks good for investment for medium to long termThe recent price action of this asset has signaled a significant shift in market sentiment. After a prolonged downtrend, it exhibited a notable uptick in buying interest, successfully breaching the previous lower high of the downtrend. This breakout strongly suggests the initiation of a potential trend reversal. In addition to the promising technical indicators, the company's fundamentals also appear robust. It has demonstrated impressive growth in annual net profits, and the current-year profits have already surpassed the previous year's figures, showcasing a noteworthy performance that underscores its strong financial health and growth prospects.
NSE:SAREGAMALong
by anuragAnand321
IRCTC Analysis (Head and Shoulders)! NSE:IRCTC ANALYSIS! IRCTC Analysis on a daily Timeframe! Descending Triangle Pattern Formation, Breakout and Retesting on a Weekly Timeframe! Inverted Head and Shoulder Pattern Formation, Breakout and Retesting on a Daily Timeframe! Bullish RSI Divergence in IRCTC! Trend Reversal in IRCTC! IRCTC has made Descending Triangle Pattern on weekly Timeframe , and it has given a breakout to its resistance trendline and retested its support level. If we reduce timeframe to Daily timeframe, then we can see the clear INVERTED HEAD AND SHOULDERS PATTERN at the bottom. We can see previous trend is Downtrend. If we combine RSI analysis with it, then we can see a Bullish RSI Divergence. After the bullish divergence the trend has been changed from Downtrend to an Uptrend. After that RSI and Price both are trending Upwards. This is a clear indication of the bullishness. I have extended neckline and support trendline both may act as a Support Trendlines. Rest of all Analysis is on the chart itself and I have marked all the important levels with price do study thoroughly. Thank You! Important Note= Please have a look on my previous IRCTC Analysis which is based on Weekly Analysis. Entry = Current levels are considered to be a good buy. Stop Loss = Below 615.50 Targets = 1) 661.50 2) 66490 3) 711.55 Disclaimer = All my analysis is for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your own research and analysis 3) Define your Risk to Reward ratio 4) Don't trade with full capital
NSE:IRCTCLong
by Avinash9087
2
GUJARATPOLY Analysis(H&S Pattern)! BSE:GUJARATPOLY Analysis! Inverted Head and Shoulders Pattern Formation in GUJARATPOLY on Daily Timeframe! Inverted Head and Shoulders Pattern Breakout in GUJARATPOLY! Trend Reversal in GUJARATPOLY! GUJARATPOLY has made INVERTED HEAD AND SHOULDERS PATTERN on a daily timeframe. We can see the price was moving in Falling Parallel Channel . Price has given breakout to the channel on 11 May but it hasn't sustained so we can considered it as a Fakeout . Again prive has given breakout to the channel on 29 May and it has sustained. Also given breakout to the Neackline but we have experienced a selling pressure around it's necklevel. Entry = Aggressive investors can buy at current levels, Conservative investors can wait for small retest. Stop Loss = Below 37.40 Targets = 1) 49.70 2) 56.99 3) 65.01 Disclaimer = All my analysis are for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your own research and analysis 3) Define your Risk to Reward ratio 4) Don't trade with full capital
BSE:GUJARATPOLYLong
by Avinash9087
4
SKFINDIASKFINDIA:- The stock has broken its lower high lower low pattern and has also given a breakout of the trendline at 4372.50. If the price sustains then we may see upside movement. Keep an eye on the stock. Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:SKFINDIALong
by AjayDhakad_Keep_it_simple
GODREJCP ready to move upThis stock has been in a downtrend. Few days earlier, it has broken out of trend reversal double bottom pattern. Also retested the the neckline couple of times. In fact, both the times, it went below neckline and again came up with a huge volume. This clearly suggest that strong buyers are standing below that level. The stock is consolidating near it's downward sloping trendline. After watching the huge volume near double bottom pattern, one can easily guess that this stock is getting ready to break that trendline and move higher. Swing traders must add this stock in watchlist.
NSE:GODREJCPLong
by sumedhb100
A beautiful double bottom pattern on TTKPRESTIGOn daily charts of TTKPRESTIGE prices have formed a very subtle and beautiful double bottom pattern after short term downtrend . If we look at the weekly chart price has came to retest it's previous three times resistance level, which was broken last year around the same month and now suppose to act as support. On hourly charts, huge volume is visible when both the bottoms were being formed. Price is near it's neckline. Hourly close above the neckline (Rs.875) will be considered as a breakout of the pattern. Intra-day and swing traders can add this scrip in watchlist.
NSE:TTKPRESTIGLong
by sumedhb100
Trend Reversal with Double Top Pattern & Candlestick formationsImportant SR levels Update based on volume profile analysis for NSE:RELIANCE Hello Trader. If you like the idea, do not forget to support with a like and follow. Above is purely my opinion. It doesn't mean that you need to trade accordingly. Please note that I'm not Sebi registered advisor or technical analyst . Trade on your own conviction and please consult your advisor before investing . #supportandresistance #volumeprofileanalysis #stockmarketindia #reliance
NSE:RELIANCEShort
by Ami8singh
SHAKTIPUMP to revers it's downtrend from strong weekly support.SHAKTIPUMP is has been in a downtrend for a long time. Now it has formed double bottom pattern on its strong weekly horizontal line support. Also is forming a bullish hammer candlestick pattern on weekly support line. This suggest that there is a strong demand for this share around this level. The stock has closed above the neckline of double bottom in hourly chart in the back of huge volume. It clearly shows strong buying interest. Swing traders keep this stock on radar and look to enter in dips. Swing traders may book their profit around downward sloping trendline. If it breaks that line then the stock will surely touch new highs in coming future.
NSE:SHAKTIPUMPLong
by sumedhb100
'Inside' Story of 'Inside' Candle !!!! -> Definition of Inside Candle As the name suggests, an inside bar chart pattern engulfs the inside of a large candle, some call it a mother bar. It’s a pattern that forms after a large move in the market and represents a period of consolidation. The inside bar pattern can be a very powerful price action signal if you understand how to trade it properly. Matching lows and highs are acceptable, however, the inside bar’s range must not be outside of the mother candle by even 1 point. -> Facts about Inside Candle Inside bar pattern within the trading range (or shadow) of the preceding bar. It is at least a two candlestick formation. Mother candlestick can be either bullish(green) or bearish(red). The inside bar chart pattern can be bullish or bearish. Inside bar setup. -> Procedure to trade Inside Candle Entering: – When the price action completes an inside candlestick chart pattern, you should mark the low and high of the Inside Bar consolidation range. These two levels are used to trigger a potential trade. Remember, the inside candle clues us into the eventual breakout and likelihood of a continuation outside the range in the direction of the break, however, it doesn’t give us information about the direction of the breakout through the range, prior to the actual move. In simple terms, if the price action interrupts the range upwards, then you should go long. If the price action breaks the range downwards, then you should trade the short side. Exiting: – Projecting the potential move with Inside Bar Breakouts can be challenging. Often inside bar trades can lead to a prolonged impulse move after the breakout, so employing a trailing stop loss after the price has moved in your favor is a smart trade management strategy. Stop Loss: – In either case (If you are Long or short), your stop should be located below the bottom of the range, as stated in the picture below. There can be a buffer of 1% below the range. -> Inside Candle helps to identify change in trend The inside bar candlestick pattern is such a valuable tool because it tells us that the market is not as bullish or bearish as it was in the preceding period. Being able to identify periods of market expansion and contraction will help any trader improve their odds of finding a winning trade because we know from history that expansion and contraction can only last so long. When either of those market phases ends, the resulting moves can be explosive! My OBSERVATION -> It is more effective if used with RSI i.e. when RSI is greater then 70 and inside candle is formed , that spot is best for shorting, and if RSI is less then 30 and inside candle is formed , that spot is best to go long.
NSE:NIFTYEducation
by Chaser30
27