2 Symmetrical Pattern trades, Index Ideas for 20 October marketsI daily make educational content videos on financial markets.
Triangle
Bank Nifty - Weekly Review Oct 10 - Oct 14Patterns in chart : Symmetrical triangle formation near the support 38600 - 38850.
38600 - 38850 is the nearest trend deciding level and sustaining above that will make the price to give another 1000 pts move towards 39660.
If the price stays below 38600, then it will move towards 38300,38000,37650, 37500.
Note : Take trade when the trend direction is clear to you.
TataMotorsIn daily time frame, price is at trend line resistance now. 417 – 420 is strong resistance. Price have to sustain it to move towards 424,430 and 435. Bearish below 413 – 416 for the targets 409, 405 and 401.
Note : Understanding trend strength is important to trade in this volatile market. Place stop order once you take an entry.
Adani Wilmar Ltd 782 dated 21-9-2022 HUGE VOLUME BOAdani Wilmar Ltd 782 dated 21-9-2022
1. Ascending Triangle pattern BO @ 770
2. Volume Rise
3. RSI BO
Buy for a target of 805-830-875 SL 735
Pattern Target 1000 SL 700
Disclaimer :
I am not a Sebi registered Analyst so please do
your own Analysis before taking any action.
The above view is shared just for educational purpose.
By no means shall be responsible for any losses
amounting out of it incase if any trades on it.
It is just a view, pls trade at your own risk.
Dr Lal Path Lab Cmp 2333 dated 20-9-2022 BUY@SUPPORTDr Lal Path Lab Cmp 2333 dated 20-9-2022
1. Trendline Support taken & reversed.
2. RSI Reversal
3. Triangle Formation
Buy @ Cmp for target 2365-2450-2550 SL 2250
Disclaimer :
I am not a Sebi registered Analyst so please do your own Analysis before taking any action.
The above view is shared just for educational purpose.
By no means shall be responsible for any losses amounting out of it incase if any trades on it.
It is just a view, pls trade at your own risk.
Hindalco Cmp 412 dated 19-9-2022Hindalco Cmp 412 dated 19-9-2022
1. Triangle Pattern formation
Breakdown below 405
Sell below 405 for target 395-385-378-365 SL 425
Buy trade considering taking support @ trendline.
Buy @ Cmp for 425-440-445-450 SL 400
Disclaimer :
I am not a Sebi registered Analyst so please do your own Analysis before taking any action.
The above view is shared just for educational purpose.
By no means shall be responsible for any losses amounting out of it incase if any trades on it.
It is just a view, pls trade at your own risk.
KPIT TECH CMP 573 DATED 9-9-2022KPIT TECH CMP 573 DATED 9-9-2022
1. Ascending Triangle Formation
2. Volume Rise
Buy @ Cmp for tgt 595-615-635-660-700-750 SL 525
Disclaimer :
I am not a Sebi registered Analyst so please do your own Analysis before taking any action, The above view is shared just for educational purpose. By no means shall be responsible for any losses amounting out of it incase if any trades on it.
It is just a view, pls trade at your own risk.
Symmetrical TriangleA symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope.
How to identify a Symmetrical Triangle correctly
1.The sides of the triangle slope equally (that's why it's symmetrical)
2.The triangle has lower highs AND higher lows – at least two of each.
3.It looks like a funnel, with the price “squeezing” from the left towards the right.