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Wedge

CONCOR: Confluence of multiple Bullish PatternsNSE:CONCOR looks extremely bullish in weekly timeframe. And note: There is a mulling over Govt for the potential disinvestment of CONCOR to reduce Govt shareholding from 55% to 34% and relinquish the management control to strategic buyer(s). Looks like market is factoring that in. There is a 5 years long monthly trendline shown as the green slanted line Then in weekly it creates a confluence of multiple bullish breakout pattens: W pattern, Cup-and-Handle, Ascending triangle - all points bullishness. COI (Cumulative Open Interest) is showing sufficient long build up in Nov contract. One can put a SL of 690 for a target of 785 and 840 thereadfter. Please note: The bullish buildup seems in the anticipation of the disinvestment.
NSE:CONCORLong
by pradipandsuvra
A bearish move in Bajaj Finserv (analysis for 20/10/22)Bajaj Finserv has been trading in a range and forming rising wedge pattern on the daily time frame. The stock has been taking support from 20 DMA and has closed just near the level. A morning star pattern is there on the daily time frame. Stock has closed between both the moving averages on the hourly time frame. An entry can be made in the down side, as rising wedge is a downtrend pattern. Target :- 1670, 1628 Stop loss :- 20 DMA (daily close above it) Enter the trade once the stock break downs the pattern. Swing and intraday trades can be initiated, if the daily candle close below the level. Watch for the quarterly earning of the stock.
NSE:BAJAJFINSVShort
by TheMamboMomentum
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