Get started

Wedge

Bank Nifty - Up, Up & Away ( 1000+ points) -Move RepeatsDisclaimer: Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell. WaveTalks - Market Whispers: Can you hear them? Bank Nifty went up again, just like before, this time 1000+ points today 31st Jan 2024. It went down a bit first to 45071, retracing 50% of 44429 to 45660 upside move as expected & gave second buying opportunity & then shot upside holding true to our expectation. Now, it's close to hitting a target of 46500, reaching 46132 so far at the moment. 25th Jan 2024 Bank Nifty jumped big after a wedge pattern unfolded at the bottoms of 44429 lows. We thought it might go up to reach 46500, and it already went up 1231 points on both days combined 25th & 29th Jan 2024. Last Idea - Bank Nifty-Post Wedge Crack from 45500-600 - 2nd Buying Opportunity? What We expected Next? For those looking to buy, think about doing so if it goes above 45700 or if it drops a bit from its rise from 44429 to 45660. 31st Jan 2024 Banknifty retraced 50% of the 44429 to 45660 to the opening lows of 45071 & Boom upside 1000+ points today 31st Jan 2024. 44429 lows was critical low If Bank Nifty goes below 44429, then the expectation of it going up might not hold, and it could drop more & new lows can be expected immediately when the idea was published. BankNifty Bulls The goal is still to reach above 46500+ especially if it stays above 45660 which now becomes our support & earlier 45660 acted as resistance. From WaveTalks Market Whispers: Can you hear them?
NSE:BANKNIFTYLong
by WaveTalks
8
ZENTEC - Continuation Wedge (Bullish) Pattern A "Continuation Wedge (Bullish)" chart pattern formed on Zen Technologies Ltd ( NSE:ZENTEC ). This bullish signal indicates that the stock price may rise from the close of 742.15 to the range of 842.00 - 920.00. Supportive Points: -After a temporary interruption, the prior uptrend is set to continue. -Also there was a gap on 7th Aug 2023 which was filled on 26th October 2023. -Pattern formation took roughly 71 days, so target will be sooner or later than 71 days. -FII has Increased Qty - You can refer third party tool to verify the same. Quarterly Results : M.Cap ₹ 6,237 Cr PE 71.0 Item YOY Sep 2023 Jun 2023 Sep 2022 Sales ⇡ 203% 64.0 132 21.1 EBIDT ⇡ 304% 21.8 66.2 5.39 Net profit⇡ 279% 17.3 47.1 4.58 EPS ⇡ 255% ₹ 2.06 ₹ 5.61 ₹ 0.58 PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:ZENTEC
by hardeepssethi
Bank Nifty-Post Wedge Crack from 45500-600 - Buying Opportunity?Disclaimer: Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell. WaveTalks - Market Whispers: Can you hear them? As discussed over the HDFC Idea Got an explosive upside move in Bank Nifty & pattern looks to be terminated downside with a falling wedge. Post wedge- Bank Nifty jumped 1231 points appx. As updated recently we were looking for 1500+ points as logical target upside towards 46500+ out of which it rallied 800+ points in the 1st hour of trading today i.e. 29th Jan 2024 Second Buying Opportunity Plan your buying trades above 45700 breach on upside or wait for retracement of the the move 44429 to 45660 as another buying opportunity or strategy. Stoploss View becomes invalidated if Index drops below 44429 lows - In that case, fall may extend downside further & to be reviewed later. Expected Upside Target 46500+ with halt in 45500- 45600 zone as suggested over HDFC Idea this morning, holding above 44429 - recent low From WaveTalks Market Whispers! - Can you hear them?
NSE:BANKNIFTY
by WaveTalks
Continuation Wedge - Bullish PatternA continuation wedge , is a technical analysis pattern found in daily chart of MTARTECH. Let's delve a bit deeper into the components and dynamics of this pattern. Bullish Continuation Wedge: Shape and Structure: Trendlines: A bullish continuation wedge consists of two converging trendlines that slope downward against the prevailing uptrend. These trendlines create a narrowing price range, forming a wedge shape. Market Psychology: Temporary Interruption: The wedge pattern represents a temporary pause or interruption in the ongoing uptrend. It suggests a consolidation phase where both bulls and bears are active, and the market is undecided about the future direction. Battle between Bulls and Bears: During the formation of the wedge, bears attempt to gain control and reverse the trend. This can lead to some price retracement or sideways movement as selling pressure increases. Resolution and Outcome: Breakout to the Upside: The key moment occurs when prices break above the upper trendline of the wedge. This breakout signals that the bulls have ultimately triumphed over the bears, and the prior uptrend is likely to continue. Volume Confirmation: Ideally, the breakout should be accompanied by a noticeable increase in trading volume. This helps validate the strength of the bullish move. Trading Strategy: Entry: Traders may consider entering a long (buy) position when the price breaks above the upper trendline of the wedge. Stop-Loss: A stop-loss order can be placed below the lower trendline of the wedge to manage risk. Target: The length of the wedge pattern can be used to estimate a target for the bullish move. This is measured from the beginning of the wedge to the point of breakout. Cautionary Notes: False Breakouts: While the pattern is reliable, false breakouts can occur. Therefore, it's essential to wait for confirmation, especially through increased volume. Confirmation with Other Indicators: Traders often use additional technical indicators or chart patterns to confirm the potential success of the breakout. In summary, a Bullish Continuation Wedge is a pattern that indicates a temporary pause in an uptrend, with the ultimate resolution being a resumption of the upward movement. Trading decisions based on this pattern should be supported by additional analysis and risk management techniques. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade
NSE:MTARTECH
by hardeepssethi
Jupiter Wagons Ltd forms bullish "Continuation Wedge" "Continuation Wedge (Bullish)" chart pattern formed on Jupiter Wagons Ltd ( NSE:JWL ). This bullish signal indicates that the stock price may rise from the close of 309.50 to the range of 348-380. The pattern formed over 37 days which is roughly the period of time in which the target price range may be achieved. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade
NSE:JWL
by hardeepssethi
SATIA INDUSTRIES, Fast growing but still Undervalued Paper stockSATIA Industries is looking good on weekly chart... CMP 145.. Chart attached shows good position building.. Its a weekly chart and candle is not closed, So I am kind of preempting further move. SL below 131 DCB for short term trade, and 114 for positional/medium term trade. Fundamentals are very good for this company and hugely undervalued. CWIP+Just completed expansion will contribute to more than 20% in next year's revenue... PE is just 6 and intrinsic value of more than 360 as per screener.in P.S. :- I am not SEBI registered analyst, This post is for educational purpose only. DYOR or consult your financial advisor before taking any action on this post.
NSE:SATIALong
by Abhi_Katkar