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Triangle

Ascending Triangle in formation. Price Action: 1. **Ascending Channel**: The price is still moving within an upward sloping channel. Currently, the stock seems to be testing the lower trendline of the channel, which has served as support in the past. A break below this level could lead to a deeper correction, while a bounce off this support could trigger a rally toward the upper end of the channel. 2. **Downtrend Line**: There is a descending trendline acting as resistance for the recent price action. This line connects the peaks from July 2023 onward. If the price breaks this resistance, it may signal the continuation of the bullish trend. 3. **Volume**: The volume bars show a spike in recent sessions, indicating increased activity. This could be a sign that the stock is approaching a pivotal point. If the price breaks either above the descending trendline or below the channel, this volume could support the momentum in that direction. ### RSI: 1. **Current RSI**: The RSI is around 52.79, close to the neutral zone. This indicates that the stock is neither overbought nor oversold at the moment, but the RSI is still following a downtrend line, meaning the momentum is not strongly in favor of the bulls just yet. ### Potential Scenarios: 1. **Bullish Scenario**: If the price can break above the descending trendline, it might resume its uptrend within the channel. The target would be the upper boundary of the channel, around ₹220-₹240. The volume increase supports this possibility, but the RSI trendline needs to be broken for stronger confirmation. 2. **Bearish Scenario**: A break below the lower boundary of the ascending channel would invalidate the bullish trend. This could lead to a more significant downside move, with potential support around ₹150-₹160. The RSI divergence could further support this breakdown scenario. ### Conclusion: L&T Finance Ltd. is at a critical point, balancing between its support and resistance levels. The next few trading sessions will be key in determining the direction—whether the stock breaks out above the downtrend line and continues upward or breaks down below the channel and sees a correction. Posted for my own analysis as I learn to trade based on the technicals.
NSE:LTFLong
by brijmohan_h
Bank Nifty - Sep 11Price was moving within a range and formed an ascending triangle. And also price is at trend line support. Pattern : Support/Resistance, triangle. Range : Medium. Trend strength : Normal. Buy Above : 51320. Stop Loss : 51240. Targets : 51400, 51480, 51560, 51640 and 51760. Sell below : 51140. Stop Loss : 51220. Targets : 51060, 50980, 50880, 50800 and 50720. Check the live market updates. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NSE:BANKNIFTY
by vanathi
20
Symmetrical Triangle Breakout: INOX WIND LTD (INOXWIND)INOX WIND LTD is showing strong bullish momentum. The price is above key moving averages, and the RSI is in a bullish zone. The MACD is also indicating a bullish trend. Additionally, the chart is forming a symmetrical triangle pattern, which could lead to a significant breakout. A potential target can be determined based on the measured move from the symmetrical triangle. A stop-loss can be placed below the recent swing low. Moving Averages: The 20-day and 50-day exponential moving averages are both above the price, suggesting a bullish trend. RSI: The RSI is currently above 50, indicating a bullish trend. However, it is approaching the overbought zone, which could suggest a potential short-term pullback. MACD: The MACD line is above the signal line, indicating a bullish trend. Volume: The volume has been increasing during the uptrend, which is a positive
NSE:INOXWINDLong
by supertraders_india
FLUOROCHEM - Symmetrical Triangle -Breakout-wklyFLUOROCHEM - Symmetrical Triangle -Breakout-wkly Name - FLUOROCHEM Pattern - symmetrical triangle Timeframe - Wkly Status - Breakout Volume - Very Good Cmp - 3808 Target - 4883 SL - 3580 key fundamental ratios for Gujarat Fluorochemicals Ltd (FLUOROCHEM): Ratio Value Market Capitalization ₹41,812 Cr Price to Earnings (P/E) 122.43 Price to Book (P/B) 6.09 Return on Equity (ROE) 7.59% Earnings Per Share (EPS) 31.11 Net Profit Margin 9.18% Operating Profit Margin 14.37% Debt to Equity Ratio 0.338 Dividend Yield 0.08%1 Always welcome for any comments with your feedback or give it a like if you find it useful.
NSE:FLUOROCHEMLong
by DailyCharts03
SBICARD - Bullish Descending Triangle -Breakout - WklySBICARD - Bullish Descending Triangle -Breakout - Wkly- Name - SBICARD Pattern - Descending triangle Timeframe - Wkly Status - Breakout Volume - Very Good Cmp - 800 Target - 930,1029, 1060 and 1256 SL - 765 A descending triangle consists of: A descending trendline (resistance): As the price moves lower and posts lower highs, it will create a falling trendline A horizontal trendline (support): This line represents a key level of support
NSE:SBICARDLong
by DailyCharts03