Triangle Pattern is formed and it has given a breakout today. Given, the bank nifty is positive, this can continue its upward trend.
TRADING PSYCHOLOGY : The stock forms a triangle pattern when the tug of war between BULLS and BEARS is at the end stage where one is bound to give up. BD line will act as resistance line. AC line will act as support line. when to trade : The candlestick has to break the support/resistance line with increasing volume to confirm the direction. STOP LOSS: If the...
TRADING PSYCHOLOGY : The stock forms a triangle pattern when the tug of war between BULLS and BEARS is at the end stage where one is bound to give up. BD line will act as resistance line. AC line will act as support line. when to trade : The candlestick has to break the support/resistance line with increasing volume to confirm the direction. STOP LOSS: If the...
Very good spot to trade, since we can capture the initial momentum. This can breakout tomorrow if market is positive.
Triangle Pattern formation + High Volume = Breakout is Possible
After forming back to back red candles from last 9 sessions, stock has seen some profit booking today. Also taking support of the lower trendline it has given a breakout from triangular pattern. It has also witnessed some strong OI today and a positive price change with strong OI clearly depicts long build up. It could rally more for coming few sessions. Let's...
Price action clearly depicts the strong bearish view for short term. Prior to the failed breakout price action was quite bullish but after the breakout failed the stock has continuously made LH & LL which is a classical bearish price action. RSI confirms the strength of bears and weakness of bulls. Once the RSI falls below 40, one can expect a sharp fall with...
TRADING PSYCHOLOGY : The stock forms a triangle pattern when the tug of war between BULLS and BEARS is at the end stage where one is bound to give up. AC line will act as resistance line. BD line will act as support line. when to trade : The candlestick has to break the support/resistance line with increasing volume to confirm the direction. STOP LOSS: If the...
BHEL has formed a bullish triangle pattern on the 30 min chart. This is very favorable trade in terms of RR (3.84:1). Strategy: Looking for breakout above the previous highs from the current levels. Buy @ 41.5 SL @ 40.5 T1 @ 44.2 T2 @ 45.1
Another 3:1 opportunity on CONCOR. This is another bullish triangle breakout strategy. Buy @ 430.5 SL @ 425 (previous low) T1 @ 443 T2 @ 445 (near term high)
NSE:COLPAL After a big rally seen in pharma sector which is now taking a pause and FMCG stocks on the other hand giving good upside moves after a consolidation depicts that the momentum has now been shifted to FMCG sector which can been significantly noticed by seeing the price action in CNX FMCG. After a big move in Britannia and HUL, also ITC. Price action...
The breakout could occur from triangle or the stock can stay range bounded for some days. Watch MACD, the stock is likely to move up or down in upcoming days.
Go long above 133 with SL at 128 Short below 128 with SL at 133 I would prefer taking long trades !
Today the National Aluminium has broken out from the Ascending Triangle . --- The volume is comparatively high. The quarterly results are positive too. --- Now the breakout has happened, the previous resistance will act as a support 35.00 --- This is a good chance --- Ignore the RSI
Possible Shriram Transport breaks down the 693 level today. We will initiate short below @693 for the final targets of 677 667 & 661.
Go long above 1015 for 1035, 1050 & beyond with SL at 990
The RSI is also in the overbought (>70) zone and hence once it rechecks the marked level in the chart one can easily take a BUY call. Target : 3% Risk : 1% Risk : Reward : 1:3. Will keep updated here. Do follow to keep motivating you ! Also you can follow me on Quora (Jago Niveshak )where I will explain the whole setup and levels to BUY for two stocks for 7th July 2020