Trading in Narrow range on Daily chart Indigo Paints trading in a narrow range, with very high chances of a breakout.
Buy above 1460, SL 1410.
NOTE: Please maintain good Risk to Reward, as per your appetite.
Wedge
18 Aug ’23 Post Mortem on Nifty - 19309 support breached 🐻🐻🐻There was only 1 goal for the bears today, to close the markets below 19309. Somehow they got it done today which means we are in for a bear ride next week. Let me try to explain.
We opened right at the 19309 level and then fell to 19258 levels by 10.45 in a show of strength by the bears. From there there was a reversal till 12.00 where we re-touched the 19309 SR zone.
Leg 2 of fall was from 12.00 to 13.40 where we managed to re-test the 19258 levels. I was monitoring very closely to see if we will break this swing low and fall towards the 19186 levels. Instead we had a surprise rally of 111pts ~ 0.58% between 13.45 to 14.15. The news about RELIANCE-JIO shares getting listed on 21 Aug would have led to short covering. A move of +2.5% in RELIANCE is more than enough to spoil the technical analysis patterns & levels.
Nifty ended up making a double bottom today at the 19258 levels and the surge of 111pts to go green would have worried many bears. I sure got rattled, I even thought a close below 19309 may not be possible. However the bears finally got their act together and ensured to push down the prices below 19309 levels.
The fall below 19309 has just managed to negate a falling wedge or a descending triangle pattern. This is good for the bears as the mainline support is breached, which will open up the downside possibilities. The next goal is to take out the break-away gap that was created on 30th June. I wish to maintain my bearish stance for 21 Aug 2023, If we have a gap-up opening or a strong rally to take out the 19309 resistance - I might be forced to change the stance from bearish to neutral.
13% Upside potential in OLECTRA🔋⚡️📈🚀Falling Wedge was formed on OLECTRA breakout has been done.
Currently it is at the resistance zone volumetric breakout of the resistance zone will unlock 13% upside potential.
EGLD/USDT Alert: Wedge Pattern Sparks Bullish Momentum!💎 Hey Paradisers, let's explore EGLD/USDT. Zooming in on the daily chart, a falling wedge pattern has emerged over time. Right now, it's getting closer to a strong support trendline, and a noticeable bullish MACD divergence is in play.
💎 If EGLD/USDT stabilizes on this support line and breaks the 29.82 level, we might be gearing up for an exciting bullish momentum. Potential targets? Our sights are set on resistance at 33.64 and maybe even 36.31. Interestingly, a bounce from the support could catch rookie short traders off-guard. Those who shorted at the previous low might get trapped, and as the price climbs past their entry points, triggering their stop losses, we could witness a bullish surge.
💎Stay alert and trade smart, ParadiseSquad!
Ashok Leyland BreakoutFalling Wedge Bullish Pattern Breakout on Daily & Weekly Candles
Highest Close since 10 oct 2022 ;
Breakout at 154.5
CMP - 154.7
Target 165-175
Time 2-3 months
Educational Discussion Only
BankNifty completes rising wedge pattern next week ?Hi All,
Hope all are doing great.
Here’s my 1D timeframe analysis. As we can see in the chart from 14-Dec-2022 to 6-Apr-2023 around 113 days there was a good falling channel pattern. It broke and achieved twice the target.
The next 113 days from the previous breakout is forming beautiful rising wedge pattern. As per the pattern nature it might break below to the given support level 43659.
Always trade carefully with proper SL because it’s your hard earned money.
Please note this is just my observation and purely for educational purposes only. Consult with your financial advisor before taking any trade.
XRP/USDT's Rising Wedge: Trade Alert for Potential Gains or Dips
💎 Paradisers, let's zoom into XRP/USDT. The asset has been tracing a rising wedge pattern for a while, adhering to both resistive and supportive trendlines. Interestingly, it's played a couple of traps during this phase and is currently hovering near the supportive trendline.
💎 If we witness an upward momentum from this point, potential bullish targets could be set at resistance markers of 1.344 and 1.374. On the flip side, a bearish scenario would need a dip below the demand zone at 1.231. If this breakdown occur, our sights would be set on the subsequent demand zones at 1.156 and 1.101.
💎Trade with caution and stay informed, ParadiseSquad!
Falling wedge pattern breakout of Weekly chart of DMARTNice Falling wedge pattern breakout of the weekly chart of DMART.
Buy Above 3990, SL 3750.
NOTE: Please maintain good Risk to Reward, as per your risk appetite.
ETH/USDT: Navigating Consolidation and SEC's BTC ETF Verdict 📈💎 Paradisers, let's dive into ETH/USDT. The asset is forming a rising wedge pattern, and currently, it's in a consolidation phase while we await the SEC's decision on the spot BTC ETF. If the SEC leans towards disapproval and the price falls below the 1757 threshold – which serves as both the lower boundary of the rising wedge and a significant demand zone – we might witness a decline towards 1642, and potentially even 1478.
💎 In case panic selling takes over the ETH market, there could be further drops ahead, potentially reaching as low as 1368 and 1171. However, if the SEC approves the spot BTC ETF, it could be a good idea to focus our bullish efforts on BTC rather than ETH. Stay attentive and make well-informed decisions, ParadiseSquad! 🚀
IBULHSGFIN Falling Wedge breakout in Monthly Time FrameIBULHSGFIN Falling Wedge breakout in Monthly Time Frame. Short term breakout happen. watch and Enter.
AAVE/USDT Price Alert: Traders Beware of Upcoming Bullish Surge!💎 Paradisers, let's take a closer look at AAVE/USDT. Historically, it's demonstrated three traps within a rising wedge pattern, leading to significant moves. Currently, after breaking its lower trendline, it's making a comeback upwards. This could potentially ensnare traders who went short after the lower trendline breakdown of rising wedge pattern.
💎 Moreover, AAVE/USDT has surpassed its resistive trendline, hinting at bullish momentum. If it manages to climb above the supply level at 66.38, we might witness a bullish surge. This is because short traders' stop-losses would likely be triggered here, propelling the price further. Our eyes are set on potential ascents to supply levels at 67.01 and 67.98. Stay sharp and informed, ParadiseSquad!
POLICY BAZAAR - #Longterm This is a purely Technical Call.
Low Risk High Reward
Insurance space in India is very premature. With the current gen understanding the importance of Insurance and financial assets, there would be a surge in this sector going forward and not to forget this gen is tech savvy.
PB Fintech Ltd, is a multinational financial technology company, popularly known as Policy Bazar is India’s largest online platform for insurance and lending products through its flagship brands - Policybazaar and Paisabazaar platform through which they provide convenient access to insurance, credit and other financial products.
Policy Bazaar – Launched in 2008 , is India’s largest digital insurance marketplace with a 93.4% market share based on the number of policies sold. Furthermore, in FY20, 65.3% of all digital insurance sales in India by volume was transacted through Policybazaar.
51 Insurer Partners have offered over 340 term, health, motor, home, and travel insurance products on Policybazaar’s platform. As of March 31, 2021, over 48 million Consumers have registered on Policybazaar’s platform and purchased over 19 Mn policies from its Insurer Partners. In Fiscal 21, the annual number of visits on the Policybazaar’s website was 126.5 Mn
Paisa Bazaar – Launched in 2014 , has built 54 partnerships with large banks, NBFCs, and fintech lenders who offer a wide range of product offerings on the platform across personal credit categories, including personal loans, business loans, credit cards, home loans, and loans against property. It is India’s largest digital consumer credit marketplace with a 51.4% market share, based on disbursals in fiscal 2020. Approximately 21.5 Mn unique Consumers have accessed their credit score from Paisa Bazaar. During FY21, Paisa Bazaar enabled disbursals of Rs. 2916 Crs
With the use of Artificial Intelligence, Machine Learning, and Deep Data science. the company has developed capabilities in marketing, product discovery, KYC, risk assessment, claim to process, facilitating the delivery of suitable products which enabled the company to gain a high Market share. The company also helps financial services industry insurers and lending partners create and design customized products for consumers by utilizing broad data insights and data analytics skills
BITCOIN soon under Bearish ZoneBITCOIN 1-day Chart on #BitStamp
This chart pattern show out the movements of 3-month cycle as per daily analysis from dec-2022 to Nov. 2023 of 1-year market trends. Into every 3-month cycle, CRYPTOCAP:BTC downtrend divergence by Falling Wedge Pattern.
Market need a big correction, ad first Lower-Low divergence will be FWB:27K - FWB:25K , and if market goes into hard FUD/FOMO impact, then its Last Lower-Low cut-off point is around here.... $21.5k to $19.5k.
Always #DYOR, Trade with #StopLoss, It's #NFA
&
Must LIKE, SHARE % Comments
NIFTY POISED FOR FALL AFTER THE BREAKOUT FROM ASENDING WEDGE
ASCENDING WEDGE BREAKOUT -
Nifty has recently broken out of the ascending wedge pattern by testing the lower trendline several times indicating strong downward pressure
SL & TP -
TP - 19525
SL - 19625
Nifty daily analysis for 08/08/23.Nifty has formed a doji and trade whole day in a range of 100 points.
The market is following a rising wedge channel and today has given closing above 20 ema.
On the hourly chart, it has closed above both the moving averages.
There seems no opportunity for option buyer. Market opened gap up and remained volatile.
Fight between buyer and seller couldn't take market anywhere and it closed only 80 points higher.
On 15 minute chart, nifty took support from 20 ema and in the second half after crossing 200 ema took support from the level. Both the moving averages are close enough.
Support :- 19535, 19420
Resistance :- 19600, 19720
Nifty struggled to cross 19600 levels today and closed below it. The market is giving gap up opening and not giving much opportunity to option buyer on intraday basis.
Wait for the price action near the levels before entering the market.
Nifty Falling Wedge Correction : Swing Analysis NSE:NIFTY
Nifty is Trading very choppy for the last few days as it's in a trend correction mode.
it is forming a falling wedge pattern.
Today it can touch the lower range of the wedge and bounce from there.
the breakout level will be above the swing high of 19800, and then 19690 will become a new swing if it plays according to the level marked on the charts.
Comment your analysis on Nifty.
Keep Learning,
Happy trading.
NiftyNifty looks like forming a falling wedge pattern and looks on the base now for buy.
Can enter buy side with stop of the low of this candle. Purely for observation and study purpose
CAMS Stock: Still in Correction, Wait for Wave 5 to CompleteNSE:CAMS is currently in a correction phase, according to the Elliott Wave Theory. The stock has completed wave 3 of the correction, and wave 5 is yet to complete. This means that the stock is likely to continue to decline until it reaches the Fibonacci level of 0.618, which is around ₹1,863 per share. Once the stock reaches this level, it is expected to start a new uptrend.
The Elliott Wave Theory is a technical analysis tool that uses wave patterns to predict future price movements. The theory states that stock prices move in five waves, with three waves up and two waves down. The waves are labeled as A, B, C, and so on.
In the case of CAMS, the stock has completed wave 3 of the current correction, which is a downtrend. Wave 5 is yet to complete, and it is expected to be a downtrend as well. The Fibonacci level of 0.618 is a common support level, and it is likely that the stock will reach this level before it starts to rally again.
Therefore, investors who are interested in buying CAMS stock should wait until it reaches the Fibonacci level of 0.618 before they buy. This will help to ensure that they are buying the stock at a good price.
Falling wedge pattern with fibo target Ipca has shown falling wedge patten and fit with fibo support and resistance
only for educational purpose
not suggestion
NTPC - 50% RETURNS!!!BUY - NTPC
CMP - Rs. 176
Target - 1: Rs. 205
Target - 2: Rs. 240
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Technicals - 1) Bullish Wedge Breakout
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Follow me for more!
Amber Enterprises: Positional Play Complete AnalysisNSE:AMBER
A complete analysis of Amber is explained on the chart.
Entry should be above - 2100 closing on daily Candle.
Stoploss - will be below Box low 1840.
Target are :- 2550/2780+
It shows multiple signals can start an Up-trend are:
1. Price at 4-year long support Trend line (Trend is intact from its life low)
2. Fib Retracement at 0.618 Significant ratio. (Measured up trend from life low to life high)
3. Falling wedge pattern is formed at support and its breakout is also done with good momentum.
4. There is a Rectangle Box Base is Forming. ( The price should break above its horizontal resistance of 2095)
this is only for educational purposes only.
Always trade with stop-loss.
I hope you found this idea helpful.
Please like and comment.
Share with Your Friends.
Keep Learning,
Happy Trading!
NiftyIf this level holds we can expect an upside for target of 100 points . But if it breaks this analysis doesn’t work and becomes invalid.
Nifty - near ATH, what's next?NSE:NIFTY reached near its All Time High 19000, peoples are talking about big fall but here the view seems different to me, As per my Elliott wave study and my counting on it which can differ with every EWT user above is my shared view, please look carefully & have a happy trading
here are some points to take in consideration.
1] Price is still in channel. also there is reverse breakout from wedge.
2] Wave 4 correction was not clear until the breakout happened.
3] VIX is near 11. So, volatility would still be low with following its trend.
4] RSI - Daily, weekly, monthly is still bullish no sign of weakness.
5] Daily candle high near upper bollinger band.
6] Daily, Weekly supertrend in green indicating more bullishness
7] no weakness in banking stocks which has highest weightage in nifty.
