NBVENTURES | Strong RSI divergence (Lower time frames), oversold in Daily time frame. Bounce and breakout from the falling wedge can give us
CMP : 47.50 (Ideal to enter @ 46.50)
SL : 44
Target : 58 or exit near the trendline as it is getting narrow.
Almost 1:6+ risk reward setup
P.S : Trade with very lite position size as the volume history is not stable...
CASTROLIND | Nice channel breakout , 30% potential for second target.
CMP : 123
SL : 119
Target : 132, 158
1:2 risk reward setup for first target (8%) . But it has all the potential to goto second target, just need patience for that. Similar to our previous POLYCAB chart.
WELCORP | Flag & Wedge formation - 52% potentially it can go up side
CMP : 100
SL : 92
Target : 150
Almost 1:6 risk reward setup
(P.S: Its a weekly chart, Small cap, Circuit range is 5% so plan your trade accordingly - Could take time upto Weeks to Months)
Price makes a falling wedge pattern and breaks beautifully. Trend line line running from the top where the price gets rejected on every touch now will become week and gives way for the price to pierce through hopefully.
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Tata Motors (tatamotors) formed a falling wedge pattern breakout on a bigger timeframe (monthly/weekly) candlestick chart. The level to watch is 160 + or 120 -. Any side breakout and stay above/below this shared level, it will move one side.
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Price was expected to break the resistance in the month of September, as it is unable to close strong enough to sustain the break it falls and the bears took for a ride. Now price is at the support levels and consecutively making falling wedge pattern to raise. Hopefully it will break in the coming week to 608 levels.
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Price almost at its previous resistance levels (2018 resistance, dotted line) by forming a Raising Wedge pattern and you know what I mean, but don't jump in and short the price until it reaches the levels else if one is aggressive in kind short and have your stop above the previous high candle with buffer.
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INDIAMART INTERMESH forming consolidation after a strong move.
RSI taking support near 40 levels.
We are seeing a breakout from the pattern.
CMP = 5010
Stoploss = 4610
Target = 6000
Time horizon = 4-6 months.
Material for strictly educational purposes. Assess your risk and enter positions.
DO NOT TAKE LEVERAGED POSITION, ONLY CASH.
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