Breakout in JKTYREJKTYRE has broken neckline of double bottom pattern which was formed after downtrend. Swing traders may look to enter in this stock if it retraces back to it's neckline.
Trendreversalpattern
wockpharma longStock is currently at monthly demand zone.
keep accumulating for higher targets as mentioned in charts.
Its Monthly QML reversal Area at 256 /231. stock will bounce strong from this area.
Short to Long term investors
keep accumulating from 275 / 256 /231.
Sl weekly closing below 208.
Views are purely based on Zone.
#EGLD/USDT | 4HR | TREND REVERSALMACD and RSI are showing signs of FALLING WEDGE REVERSAL.
*just an idea do your research before investing.
KEEP AN EYE HINDUNILVR After creating a new high, it broke the trend line and support was taken at a good level (2300 level). It tried to move up. Only if price action shows any movement above the channel can we expect a good entry into Hindustan Unilever Ltd. Below 2300, we need to wait for the postive triggger.
Trend reversal pattern signals seen in BajFinanceUpTrend reversal pattern signals seen in BajFinance
Reasons :
Daily chart trend closed below 5 MA
Evening star candle stick formation seen with today close
Earlier 2 inverted cross doji's formed and not activated yet
Rally is paused after 31st August
Volume Decreasing
RSI Decreasing
Trend is far away from 20 and 200 MA
For healthy uptrend, stock has to test retracement of 38.2/50/61.8 Fibanocci levels
Stock did not retrace since 16th August
What can happen next :
Scenario 1 : Below 7414, it can go till 6890/6711 (if we consider 7615 as retest on 6th Sep for the high made on 1st Sep 7674.50)
Scenario 2 : Can retest 7615/7675 before going down
For any further uptrend 0.382 levels needs to be tested..
Lets see..
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
HEROMOTOCO .... BOUNCE from SUPPORT LINE.. <TREND REVERSAL>HEROMOTOCO is likely to take a BOUNCE from support line @ 2700 lvls as suggested by a bullish candle and past behavior on the chart
TRADE
BUY @ 2700
TARGET 1: 2800
TARGET 2: 2875
STOPLOSS: 2590
expecting head and shoulder patterntrade set up
1. trend line breakout
2. expecting head and shoulder pattern
3. all entry exit and stop loss mentioned in chart
APOLLOHOSP Had formed a trend reversal pattern. Earlier was in uptrend but now trend have reversed.
Can see short opportunity in coming days.
M Top or Double Top Bandhan BankThe Daily chart in Bandhan Bank shows a clear-cut M Top or Double Top pattern.
Note that it's a trend reversal pattern. As you can see before the M top it was bullish and After the M top it created a bearish Trend.
Let's call the first candle which crosses Neckline as Point B, and the Resistant line as Point A.
when the candle finally crosses the neckline after creating M Top or Double Top draw a line from point A to point B. and place it below the neckline that shows the target.
It's clearly seen that it has given a significant profit of 16%.
LTTS two opportunites Long and Short first long with the target 2900, then short with the target of 2800 always trail your stop loss
LTTS buy around 2500-2530 with the sl of 2430 ( sl on 15 min candle close )
Sell around 3000-2950 with sl of 3070 (sl on 15 min candle close )
Bank Nifty Trend Conversion/Positive Break-out 19-04-2021Bank Nifty opened with a Gap-Down and was trailing with the same trend till it breaks out the Projection level and changes the Trend.
BPCL trend reversalBPCL was in a very clear uptrend from 22nd December... after that yesterday it formed a green candle with small wicks, today it opened gap up but could not retain the price and closed deep into yesterday's body.
The encircled pattern is called Dark Cloud Cover.
As the name suggests, a downtrend is expected after the appearance of this pattern.
You can keep a target of the 200-day exponential moving average.
The stop loss will be the highest high among both the candles forming the pattern.
In this case, the highest high is the high of the first day (green) candle.
BIG OPPURTUNITY SEEN:Completion OF Elliot Wave & Triangle PatterONE SHOULD NOW GO LONG AS OTS ELLIOT WAVE PATTERN IS ALMOST COMPLETED NOW.
WHICH COULD LEAD TO TREND REVERSAL
BHEL making double top BHEL made a double top. It is expected to fall of 10-15% if the breakdown the support @35
An investment idea in YESBANK on NSE (INDIA)This is monthly chart of YESBANK on NSE (INDIA) which looks good for an investment. Opinion has been formed based on following observations :
1. A horizontal line has been drawn on the chart which acted as resistance during JAN 2015 to MARCH 2016 which turned into key support during recent fall in prise. Finally, the said resistance was broken in April 2016 and now it acted as support after massive fall in price. This support also coincides with 78.6% retracement level on fibo as shown on the chart.
2. Trendline drawn on the chart indicates support with arrows which is yet another confirmation towards likely reversal in trend.
3. Inverted hammer formation in Oct 2018 is another conformation indicating possible reversal. Similar inverted hammer formation was observed in Sep 2013 and there is massive surge in volume at both the occasions as volume bar has engulfed the previous month volume bar (Sep 2013 and now in Oct 2018).
In view of above, it could prove to be an excellent investment idea with stop @ 160 (below the recent swing low) with target @ 368 (resistance drawn on the chart) or beyond.
Happy investing !!! Kindly share views which will help all of us...
realty sector looks bearish in short termin daily, head and shoulder pattern formed after an established uptrend. it can easily retrace to 50% level as shown.
bhusan steel looks bullish in med to long termIn monthly, it seems a complete elliott wave cycle is complete, and stock has bottomed out.
in weekly, we can see that, round bottom is forming and fresh impulse already started here.
round bottom pattern tgt
so with a sl - 54, 1st tgt - 95, 2nd tgt - 151, long term tgt - 500.
jppower looks bullish in medium to long term. in longer time frame, it was in long term downtrend, then inverted Head and Shoulder formed in weekly, breakout done with good volume, after a pullback, it reversed and moving up now.
sl - 5, tgt1 - 8.3, tgt2 - 9.3.
Also there is a good probability for round bottom, after the formation on Inv H&S(classic reversal pattern) at the bottom.
tgts for round bottom - 14, 20, 26. (it is strictly long term tgts).
lyka labs looks bullish in medium term In weekly, inv HnS pattern formed, then breakout with good volume, strong base is formed, and price reversal is complete.
also horizontal resistance broken with good volume,
1st tgt - 76, 2nd tgt - 90, sl - 53
Quick Heal - Perfect example of Three Falling Peaks Pattern.Three Falling Peak Pattern
1. This pattern is a pattern that signals change in current trend and start of new trend.
2. This pattern is explained by Thomas Bulkowski in his book " Encyclopedia of Chart Patterns "
3. This pattern is used to avoid creating long positions in stock that may enter in bear markets.
Rules of this Pattern
1. There should be a uptrend preceding this pattern.
2. Formation of similar/identical Three (3 ) peaks , each lower than the last.
3. Pattern gets confirmed , when prices closes below the lowest valley.
4. Stop is to placed at the last peak
5. Target of this pattern is derived by deducting 33% of the difference between First peak and the lowest valley, from the lowest valley price.
6. If the Bear trend extends further,second target can be find by deducting the entire height of highest peak between lowest valley,from the lowest valley.
Here in this Quick Heal Chart , three peaks pattern formation can be clearly seen, i have marked the three peaks as 1 -2-3 (
The peaks are thick and look identical, i have placed a horizontal line at the lowest valley( 232.2 ).
The stock opens gap down , broke the lowest valley support( 232.2) , hence confirming the trend change in the stock signaling start of a bear trend.
First target for this stock was: { 232.2 - 33% of } = 211
Second Target { 232.2 - } = 169
Well this pattern cannot be used as a system to exit long position , as it takes long to get confirmed, where more of your profit would be eaten away, if you wait for this pattern to get confirmed, however this pattern can help you avoid creating long positions in stocks which has entered in a bear market and saves you from making losses, and aggressive traders can also creates short positions with the help of this pattern.
