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Wedge

Axis bankPrice has formed a rising wedge and the consolidation is getting narrow. Pattern : Wedge. Range : Medium. Trend strength : Normal. Buy Above : 994. Stop Loss : 989 Targets : 999, 1004 and 1010. Sell below : 985. Stop Loss : 990. Targets : 980, 975 and 970. Price in one hour time frame. Check the live market updates. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NSE:AXISBANK
by vanathi
BANKNIFTY November 8, 2023BankNifty turns bullish as expected! On November 7th, NSE:BANKNIFTY broke through neckline resistance with a bullish momentum candle, confirming the bullish trend that we have been anticipating. The weekly chart shows a rising wedge formation, which could lead to a short-term bullish trend, with BankNifty breaking through 45,000 and reaching an all-time high before reversing. I have plotted and adjusted support and resistance levels on the chart. Please watch the market closely and trade accordingly, especially on expiry day, as there may be surprises. Like and follow me for more updates!
NSE:BANKNIFTYLong
by UnknownUnicorn34628734
Finnifty - Nov 7Price is moving up for the past few days, but the width is narrowing in the form of rising wedge. So you should be careful as it may fall suddenly. Buy above 19660 with the stop loss 0f 19610 for the targets 19700, 19740 and 19820. This will happen if the price retains the bullish strength. Sell below 19570 with the stop loss of 19610 for the targets 19530, 19490, 19450 and 19400. The fall may be more if the price gains bearish strength. Support zone : 19420 - 19460. Resistance zone : 19790 - 19820. Do your own analysis.
NSE:FINNIFTY1!
by vanathi
3
Nifty weekly expiry for 02/11/23.Nifty has formed a red candle on the daily charts and is trading between both the moving averages. It is showing a bearish trend on smaller time frame, also forming a fall wedge pattern. If the market starts trading below 18900, there will be a huge sell off as the low will be cleared and support will be around 18720. On the hourly charts, the market has been trading below the moving averages which signify some negativity. Support :- 18870, 18720 Resistance :- 19250, 19400 Tomorrow is weekly expiry for nifty and today it has fall 90 points on day to day close. Watch if the market open flat to negative and starts trading above the resistance of wedge. The pattern will work in the bullish side more effectively. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
NIFTY positional - 1000 pts move NIFTY index on a weekly timeframe, a notable diamond top formation seems to be developing. Historically, diamond patterns have often signaled significant price reversals. Based on this observation, a potential 1000 pts move could be on the horizon. Analysis: Diamond Top Formation : The diamond pattern, often considered a reversal formation, has manifested after NIFTY's bullish run. This pattern encapsulates a period of market indecision, with the price oscillating within converging trendlines. A decisive breach of these trendlines can indicate the future price direction. Bearish Scenario: If NIFTY breaks below the lower trendline of the diamond formation, a swift downward move can be expected. The depth of the diamond provides a hint at the potential move, which, in this case, suggests a 1000 pts drop. Supporting Indicators : The recent retest of the wedge and subsequent rally shows a strong bullish momentum. However, with the emergence of the diamond top, this momentum may be waning. A confirmation of the bearish view would be a decisive breakdown below the diamond's lower trendline, preferably with a spike in trading volume. Conclusion : While the diamond top formation suggests a potential bearish reversal, it's crucial to await a clear breakdown for confirmation. A 1000 pts move is significant, so traders are advised to be vigilant, employ risk management techniques, and consider other technical and fundamental factors influencing the market. Disclaimer: Technical analysis is based on historical price action and patterns. While patterns can give insights into potential future movements, they don't guarantee outcomes. Always trade with caution and employ proper risk management strategies.
NSE:NIFTYShort
by msk_analysis
2
🚨 #BankNifty Weekly Time Frame: What's Next? 🚨NSE:BANKNIFTY On the weekly chart, there's a huge rising wedge shaping up for BankNifty. This week, we've tapped the trendline again. The weekly candle has got a significant wick at the bottom, showing buyers are still in the game. 📈 Support Zone: 41800-42000 Resistance Zone: 43800-44000 A drop below 41800 might kickstart a bearish run. Or, we could consolidate in this zone and see some sideways action before the next big move. Keep your eyes peeled for a breakout or a bounce back!
NSE:BANKNIFTY
by TrendTechnician
Mighty Nifty - Oct 19Pattern : Falling Wedge. Range : Medium. Trend strength : Normal. Buy Above : 19640. Stop Loss : 19610. Targets : 19680, 19720 and 19750. Sell below : 19560. Stop Loss : 19590. Targets : 19530, 19500 and 19460. Expiry day range is 19450 to 19750. Check the live market updates. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NSE:NIFTY
by vanathi
A Continuation Wedge (Bullish) pattern in ARVINFASN A Continuation Wedge (Bullish) is a technical chart pattern often observed in financial markets, particularly in price charts of stocks, currencies, commodities, and other assets. This pattern is characterized by its appearance during an uptrend and signifies a temporary pause or consolidation before the prevailing uptrend resumes. Here's a breakdown of its features and implications: Pattern Appearance: The Continuation Wedge (Bullish) consists of two converging trendlines, both of which slant downward against the prevailing uptrend. The upper trendline, often referred to as the resistance line, is formed by connecting the swing highs (peaks) of the price action. The lower trendline, known as the support line, is created by joining the swing lows (troughs) of the price action. As the pattern evolves, these trendlines gradually converge, forming a wedge-like shape. Duration: This pattern typically spans a relatively short period, usually a few weeks to a few months, during which the price movement becomes increasingly narrower within the confines of the converging trendlines. Volume: Throughout the formation of the Continuation Wedge (Bullish), trading volume often contracts. This decrease in volume signifies a lack of conviction among traders and investors, contributing to the narrowing price range. Market Psychology: The pattern reflects a tug of war between bullish and bearish forces. The bears attempt to reverse the ongoing uptrend, causing the price to move within the confines of the converging trendlines. However, despite the bearish pressure, the bulls eventually gain the upper hand, leading to a breakout to the upside. Breakout: The most critical aspect of the Continuation Wedge (Bullish) is the breakout. The bullish breakout occurs when the price breaches and closes above the upper trendline (resistance line) of the pattern. This breakout signals the end of the temporary interruption and the resumption of the prior uptrend. Price Target: To estimate the potential price target following the breakout, you can measure the height of the widest part of the wedge (the distance between the highest and lowest points of the wedge) and add it to the breakout point. This can provide a rough idea of how far the price might move upward after the breakout. Confirmation: As with any technical pattern, it's important to wait for confirmation of the breakout before making trading decisions. Traders often look for a clear, convincing close above the upper trendline and an increase in trading volume to confirm the validity of the breakout. Remember that while technical analysis can provide valuable insights, it's not foolproof and should be used in conjunction with other forms of analysis and risk management strategies. Note for everyone who came across this reference: 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:ARVINDFASN
by hardeepssethi
BHEL ltd,.; min 30% Return ; right time to investFundamentally good stock, For long term investment. . . Entry: 102 target: 104 -119 - 130 sl: 97 major stoploss/ support: 87 . Enter only after breaking & close above " Yellow box" mentioned. Or else wait for some time. ' ;good for long term investment. ' ' Don't make complicated trade set-up.📈📉 Keep it " simple, focus on consistency 💹 Refer our old ideas for accuracy rate🧑‍💻 Valuable comments are welcomed-✌️ . refer old ideas attached below
NSE:BHELLong
by TheNuraTrading
3
EQUITASBNK - Continuation Wedge (Bullish)Daily chart analysis of EQUITASBNK tells me that following a brief pause, the previous upward trend is poised to resume. A Bullish Continuation Wedge illustrates a momentary pause in an ongoing upward trend, characterized by two converging trendlines that both slope downward against the prevailing trend. Throughout this phase, there's a struggle between bearish and bullish forces, with bears attempting to gain control over bulls. Eventually, the bulls emerge victorious, as evidenced by a decisive breach above the upper trendline. This breach serves as an indicator that the prior upward trend is set to carry on. Target is marked on the chart. Note: Traders and investors often use them in conjunction with other technical and fundamental analysis tools to make more informed decisions. 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:EQUITASBNK
by hardeepssethi