Nifty Auto - Interesting Price FormationsNSE:CNXAUTO - Overview on all timeframes - MTF, WTF, DTF
DTF its trading within ascending triangle. Expect price to consolidate
WTF its taking long term support and might make double bottom as long s 12675 is held on weekly closing basis. Also showing signs of flag pattern formation but that will be only confirmed if 12675 is held. If thats broken, bullish bias would get negated
MTF its taking long term support of 2020 support line and making HH formation. The only exception is that monthly candle is not looking good so far and thats cos Nov candle is a hanging man and price has been declining so far
Bias on larger time frame remains bullish and only DTF, WTF, the prices may just remain sideways or consolidate within the ascending triangle which may not result in large moves. As an option buyer, I would remain mildly cautious on long trades and remain stock specific.
Let's see how the story develops. Best wishes!
Disclaimer -
- The opinions expressed here are my own. This is for my own records as well as what I see on charts.
- If you are referring to this, please keep in mind that it is only for educational and research purposes.
- Past performance is no guarantee of future results.
- You must accept responsibility for any decision you make. DO NOT TAKE THIS AS AN INVESTMENT RECOMMENDATION.
- It's your hard-earned cash. Trade / Invest wisely, keeping in mind your trading style, goals and objectives, time horizon, and risk tolerance.
- Before investing, conduct your own research and consult with a financial advisor.
TIA!
VCP
Why Pick Stocks in an Uptrend ? Here I show why I bought some #ROSSELLIND. The stock has been in an uptrend with heavy volumes supporting it. The stock was taking a breather before continuing it's ascent. I found a low risk point to get the entry and the stock immediately shot up.
#ROSSELLIND #MARKMINERVINI #LOWRISK #VOLATILITYCONTRACTION #VCP #INDIA #
INDIA BULLS HOUSING FINANCE : SHARP VOLATILITY CONTRACTION - India Bulls Housing Finance has suffered a rapid fall and now price has been trading in a range.
With upper range at 300 and lower range at 85-90 levels.
A Sharp volatility contraction is happening in the stock which can break on the upside.
Check the video for more details , risk reward for this trade is 1:4.
Cheers,
priceNpedia
Tata Coffee - VCP base analysiss3.tradingview.com
1) Strong stage 2 uptrend on weekly tf
2) within base, strong institutional demand with wide range candle on heavy volumes
3) three contractions with volumes decreasing subsequently, price action getting tighter, indicating supply has reduced
4) no wide range bearish candles with volume on downside when stock was correcting, instead candles with long tails. this suggests stock is under institutional accumulation
Long - CMP
SL - 212
Target - 272
TATACOFFEE has VCP pattern formation one of the strongest VCP pattern formation one of the strongest and most accurate patterns
IDFC chart analysis for swing trade IDFC chart analysis for swing trade (15 min)
Entry & exits are given on chart.
only for learning, trade at your own risk.