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Trianglebreak

Triangle Pattern in Nifty 50 ?Nifty 50 is in very important zone & forming triangle kind of pattern in a daily time frame, considering 29 Apr 2022 as a staring point. From 17 June 2022, the bearish movement is paused and we can see a bullish rally from that date. Therefore we can see, triangle is squeezing & Now we have to see, who take further movement Bulls or Bears ? For the bull run Financial Sector should support, as now Auto sector performing well by breaking its previous all time high. Then only we will get whether the recent bullish movement is genuine or not. Weakness of INR against dollar and increase in inflation are major factors that need to be considered. Important level are marked in the Chart in the case of breakout or breakdown. Share your opinion in the Comment section. NSE:NIFTY
NSE:NIFTY
by varun_devadiga
Everest Kanto major resistance breakout in a daily chart? Major Resistance breakout in Everest Kanto. After the continues fall, the momentum was paused from 12 May 2022 @140-155 range. This range is tested multiple time, which helped in forming important Demand zone. Which confirm buyer are slowly taking control, and now, we can see there is a breakout of major resistance. Stock is having potential to reach 260 range, If it is coming for retest 175 range must act as support, for the upside rally stock has to close today's high. Ideal SL will be 163. This is just a view, not a recommendation to trade. Do your own analysis before taking any trade. NSE:EKC
NSE:EKCLong
by varun_devadiga
4
Bank Nifty 1h Chart Analysis 04-07-2022 we can see a breakout in bank nifty in 1 hour Chart frame. 33790 Zone was a strong resistance previously, today that level is broken with a good candle, which gives clear idea how bulls took control last 1 hour. If it breaks 33980-34000 range then we can see a bull run in coming days and there is gap at 33350 range, should fill that first, for further upside movement. If it is coming for retest then previous resistance zone 33790 must act as a support, if it a genuine breakout. For downside we can see a see a solid trend line support. For breakdown, Watch out for this trend line (support Green Color). For this rally main reason is ICICI BANK, looks its 1hour chat for more datils. Now, HDFC BANK and Kotak bank should support for bank nifty rally. In that HDFC BANK is still in side zone and yet to perform. Probable targets , Support are given in the chart. This is not a recommendation, do your own analysis before taking any trade, Give your opinion in the comment section. Happy Trading :)
NSE:BANKNIFTY
by varun_devadiga
Three Genuine Triangle EntriesTriangles are very common and promising patterns. Normally they are considered as continuation patterns in the direction of prevailing trend. I am presenting here three useful entry techniques. None is better than the other and each one has its own strengths and weaknesses. ANTICIPATION SETUP As the name suggests, the trade is taken before the triangle breakout. It is in anticipation of a continuation breakout. Entry is taken at the third touch of the uptrendline. Stoploss is fairly smaller, below previous swing low A, compared to other setups. Stop can be brought up to breakeven as soon as breakout happens. As entry is taken before breakout, the chances of hitting the smaller stop are fairly high. BREAKOUT SETUP Entry is taken above the prior swing high B with stop below the recent swing low C as shown in the chart. The stoploss is relatively large but chances of hitting the stop is also relatively less. CONFIRMATION SETUP Many a times, after the breakout, price pulls back to the triangle for a retest. The entry is taken above the swing high E formed after the breakout as shown in the chart. Stop is kept below the recent retest swing low F or the last swing low D inside the triangle. Stop may be large in this case but it comes with higher chances of a successful trade. TARGETS Target in all the three cases should be the height of the triangle, shown in the chart, as measured from the breakout point of the triangle. PRO TIP ♦ The triangle breakout should occur within 1/3rd to 3/4th the length of the triangle (see chart). The late breakouts are not considered as valid continuations and may end up as a trading range. ♦ Ideally volume dries up as the price consolidates in a triangle. Volume starts picking up as the breakout occurs which is a good sign. ♦ Triangles setups are valid in both uptrend and downtrend. I hope the above information would be helpful. Thanks for reading 😉
NSE:NIFTYEducation
by Bravetotrade
11