Siemens volatility compressionSiemens has formed ascending triangle and is at the top of the triangle. It will be interesting to watch if stock breakouts or continue to remain sideways inside the wedge.
Wedge
Buying opportunity in BankniftyTry to keep the SL small as there some good resistance, But still there is a high probability to break the resistance.
Falling wedge pattern reversal in CONCORCONCOR
Key highlights: 💡
✅On 1D Time Frame Stock Showing Reversal of Falling wedge Pattern .
✅ It can give movement upto the Reversal target of above 735+.
✅There have chances of Breakout of resistance level too.
✅ After Breakout of resistance level this stock can gives strong upside rally upto above 828+ .
Idea for shorting Nifty 18-1-2023There are some reasons for shorting Nifty,
Reasons :-
23.6% Fibonacci rejection level,
Rising Wedge,
Multiple time tested support zone,
Rejection zone,
There is a High Probability of breaking support.
Approach towards USDJPY Long.Hello Traders!
It's a simple trade today. Very basic . Sometimes we tend to complicate the market when all it needs is simplification.
1. Falling wedge pattern with trend respected.
2. A comfirmation in 30 min tf (W pattern) and 2hr tf ( indecision candle and then a bullish reversal candle).
3. But still, as a precautionary measure, we'll wait for the the current high to be broken. Better safe than sorry!
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
COLPAL is breaking down. Price has formed a rising wedge pattern in the last 14 years, which is now breaking down. It is yet to give a monthly closing to give a breakdown. But overall it is important to analyse stock both technically and fundamentally. Not only COLPAL, DMART and PGHH are all showing the same behaviour technically. Hence the whole sector can be at an important point.
Berger paints on a crucial support.Price is forming a falling wedge pattern and is on a support level. After the fall of 2020 price crossed 560 and then never closed below it on a month on month basis. Although it went below it 2 times it bounced and closed above 560. Also if we plot volume profile from Jan 2022 to Jan 2023, POC comes at 580. Hence it is an important time to study the stock and the business.
Fusion Micro Finance Ltd. wedge formation.Fusion Micro Finance has formed a wedge and is hovering near breakout level for last few trading sessions. If stock sustains above 400 then it will head for new all time high.
Elliotical Approach to US30 Short.Hello Traders!
1. The US30 market is on the verge of completing its 2nd wave of Wave C of the complex correction as originally published in a prior idea (link attached).
2. We see an ending diagonal forming in the 1hr tf at the moment.
3. Also, wave 4 often divides an impulse into harmonic ratios. There can be that possibility with the division of 61.8% and 38.2% (total 100%). We take this possibility into picture because we also have the retracement level of 78.6% of wave 1 at almost the same level.
4. What is an invalidation level ? It is the level at which are analysis will have been wronged. So, in this case, if US30 market goes above 34950, our analysis will be wronged and we will have to look for a new picture. That's how accurate Elliot Wave Theory is!
5. Clearer targets will be available when we have a clear impulse down.
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
state bank of indiasbin in 4hrs time formed symmetrical triangle chart pattern. getting support from down side and facing resistance from upper side. waiting for break out in which direction stock will give then we can make 8 to10% return from stock as we can see in chart
ABFRL losing strengthOn a monthly chart, stock is forming a rising wedge pattern. Now it is near resistance and volume on the monthly chart is also decreasing.
ALGN might not be over yet.Stock made a high of 370-380 in Sep21 and then fell 75% to $172 in Nov22. It is not new for it. Stock fell more than 60% in 2001-2002, 2004-2005 and 2007-2008. With all of that on a log chart it is forming a rising wedge pattern. 172 is important. Firstly it was the lower end of the wedge and second it has always been a major support for the stock. Looking at the past we can say if the price falls below $172 it always came back and closed above it.
BTC breakout in Falling wedge pattern. Its just a Breakout.BTC breakout in Falling wedge pattern. Its just a Breakout. Real Rally Will start Soon. :D
Nifty Falling WedgeNifty Falling Wedge formation on 30 min TF. Go long on breakout by keeping 17760 as your stop loss. There is also Triple bottom marked on the chart, which gives us double confirmation of reversal of trend.
Salasar peanut formation.The stock is looking for either side breakout after volatility compression. One shall wait for breakout and then trade.
Falling wedge breakout in GoldiamGood breakout in this counter after long consolidation in falling wedge.
quick target of 220 levels expected.
Considering SL will be at 120 buying limited qty to avoid huge exposure can be considered.
Reliance Short Trade Setup!Rising Wedge Breakdown Negative For Long Term And Short Term, RSI Also Weak. Sell Positional With Stop ~ 2580, For Target ~ 2350. Expected Time Jan Expiry.
Chennai Petro CP Wedge and Flag BreakoutChennai Petro CP breaks out on 1D timeframe. It has given a Double Pattern breakout from Falling Wedge and Flag patterns. Target & Stop Loss are explained on Chart. Be wary of upcoming earnings. Do Trail your Stop Loss and follow proper Risk Management.
Crisil weekly trend analysisCrisil weekly trend analysis.
> Falling wedge breakout
> 7 months downtrend break on weekly timeframe. (From may 2022)
> Size of the pattern is 890 rs.
> Forming an Inverted H&S Which is bullish pattern.
> Entry break and trade above 3100.
> Potential targets 3223,3424,3626,3840.
> keep will be 7-10% below entry price.
> position size : 10-20% of the trading capital.
> max risk : 1-2% of trading capital.
> time : 1-6 months.
> Happy swing/positional trading.
Note: only for educational purpose, trade at your own risk.
Inverted H&S pattern in weekly chart of NESTLEINDThe chart is pretty much self explaining.
In larger TF it has already made an inverted H&S pattern. And after completing formation of right shoulder now it is making a flag.
This is a good long opportunity.
BTC 4h TFNanbas due to the slow market #BTC 4h TF la same pattern. Still facing resistance near 200MA and EMA. Moving in a ascending broadening wedge and small bull flag is seen.
NTPC LONG OPPORTUNITY!!falling wedge pattern is seen NTPC.
Long opportunity is possible
initiate long positions if NTPC gives breakout above 168 and upto 180-190 levels in coming days!
Falling Wedge Pattern in Nifty and Breaking of 18000 supportNifty is forming a falling wedge pattern, there is a high likelihood Nifty may trade within this channel. During this channel, it may take support and resistance of 17800 and 1800 in between.
In hourly chart, Nifty is trading below 50 EMA and 100 EMA which further confirms bearish pattern.
How to trade this setup ?
1. Sell call option and choose strike basis your risk profile, risk averse trader should choose higher strike price.
2. Buy put option when there is bounce with weak candles near resistance
You should not do -
1. Buy call option unless Nifty decisively break the 18200 levels
2. Sell put option must be avoided.
Macros in favours of Bearish Pattern.
1. Interest Rate Hike by US, India (FOMC Minute)
2. Risk of COVID infection, hospitalization
3. DXY is rising creating pressure on USDINR rate
4. Policy related change in budget 2023, tax implications
Happy Thursday :)
Regards.
TradeManthan Team
Disclaimer
We are not SEBI registered investment adviser, trade at your own risk. The above information is for learning and knowledge only.
