Get started

Volumeanalysis

ASAHIINDIA breakout of pennant patternIf we take a look at weekly chart of ASAHI INDIA GLASS, it is going in smooth uptrend. In daily chart, it had formed double bottom pattern on weekly support trendline. After breaking out of this trend reversal pattern, the neckline was retested twice. While retesting the neckline, stock was forming pennant pattern in hourly chart. Today it came to apex point of pennant and price went upward sharply on the back of volume. So swing traders can find opportunities to enter this stock on pullback. Target price of Pole and Pennant pattern is coming around 540. Add this stock in watchlist without fail.
NSE:ASAHIINDIALong
by sumedhb100
SHAKTIPUMP to revers it's downtrend from strong weekly support.SHAKTIPUMP is has been in a downtrend for a long time. Now it has formed double bottom pattern on its strong weekly horizontal line support. Also is forming a bullish hammer candlestick pattern on weekly support line. This suggest that there is a strong demand for this share around this level. The stock has closed above the neckline of double bottom in hourly chart in the back of huge volume. It clearly shows strong buying interest. Swing traders keep this stock on radar and look to enter in dips. Swing traders may book their profit around downward sloping trendline. If it breaks that line then the stock will surely touch new highs in coming future.
NSE:SHAKTIPUMPLong
by sumedhb100
ACCELYA may reverse it's downtrend.ACCELYA Solutions Ltd. A small cap IT company catering to Airlines & Tourism Industry. Toady it came up up with good quarterly results. Stock has been in a short-term downtrend. Now price has reached it's weekly support trendline. Also if we go back to MAY-JUNE 2021, we can see huge volume around this price. In daily time frame stock has formed a pattern similar to double bottom. On hourly chart symmetrical triangle has formed and price is inching towards narrower range. On 15 minute chart in the last trading session, we have seen a buying with volume. Considering all these factors, I believe that smart money is interested in this stock around this level. Long term investors and swing traders can keep this chart on radar.
NSE:ACCELYALong
by sumedhb100
The Rising Wedge PatternA rising wedge is a bearish pattern when it appears at the top of a mature uptrend. It signifies that a potential top might be in the offing. The duration (short/medium/long term) of the top depends upon the timeframe on which it appears. Preconditions ------------------ > A strong mature (multi-day/week)trend in the background > Wave HH1 to be extremely smaller than H > HH2 should be smaller than HH1 > HH-HL structure results into a rising wedge or arrowhead > It should appear at the potential top of a rally > Wave LL has to be snappier/abrupt/faster than wave HL & L Volume characteristics ---------------------------- > The volume in HH1 is generally less than volume in wave H > Volume in HH2 is less than volume in HH1 > Volume in wave LL should be higher than volume in wave HL and L Confirmation ----------------- > Wave LL breaks the low of wave HL Psychology -------------- > Weak character of waves HH1 & HH2 with shortening of length and lesser volume means buyers are not interested at these levels > Breakout buyers trapped above H and HH1 > Sharp wave LL with increasing volume suggest that sellers are taking over and a potential medium to long term top may be in place Trading --------- > Book profits full/partial, in any long position, at the break of HL > Risk takers short at the break of HL but risk in may be large as stop loss (above HH2) could be wide > Other may wait for a pullback on the upside (after break of HL); price often reverts back to average prices where short position can be taken > Always try to minimize risk, either by reducing position size or otherwise Do not forget to like/comment/share for more updates in future. Thanks for reading
Editors' picks
NSE:NIFTYEducation
by Bravetotrade
28
RATEGAIN forming bullish continuation patternRATEGAIN is forming a bullish pennant pattern after breaking out from double bottom i.e. trend reversal pattern. Few weeks earlier it rose sharply after breaking double bottom pattern and now this vertical rise can be considered as flag. The stock is now consolidating, volumes are also drying and moving eastside towards apex point of pennant. Intraday traders and Swing traders can keep eyes on this, as it may breakout anytime. Once you see volume picking up, one can enter.
NSE:RATEGAINLong
by sumedhb100
GODREJPROP - Head and should patternAll details are given on chart with clear explanation. 1. Godrej Properties was in the downtrend since Nov 2021 with LH and LL pattern. 2. Last LL was not taken out by following candles and formed Head and Shoulder pattern in the bottom which indicates trend reversal 3. Breakout happened but with not much impressive volume 4. Chart pattern looks very good and attractive 5. Overall Real Estate sector is in positive Disc - Am not a SEBI registered. This post is only for educational purpose and do your own analyses before taking any position.
NSE:GODREJPROPLong
by Grow_YourCapital