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Wedgepatterns

Elgi Equipment Next leg rally to start?Details of entry and exits are mentioned on charts. Stop loss ~5% and target ~15%. Given target is for swing trading, if aggressively breaks wedge upper line expect it move rapid up in longer term. Please Boost this analysis with likes and comments. DISCLAIMER: There is no guarantee of profits or no exceptions from losses. The stock and its levels discussed are solely the personal views of my research. You are advised to rely on your judgement while investing/Trading decisions. Seek help of your financial advisor before investing/trading. Investment Warnings: We would like to draw your attention to the following important investment warnings. -Investment is subject to market risks. -The value of shares and investments and the income derived from them can go down as well as up. -Investors may not get back the amount they invested - losing one's shirt is a real risk. -Past performance is not a guide to future performance. -I may or may not trade this analysis --------------------------(((((LIKE)))))-------------------------------
NSE:ELGIEQUIPLong
by Niftydirection
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
Ethereum moving towards $1k#Ethereum Daily Chart Analysis CRYPTOCAP:ETH #BearishWedge pattern starts from june 2022, after previous BullRun's downfall towards #BearishZone market, and now it will be very nearby to finish its final cycle of last Bearish mode within next 35-50 days. As per present scenario. CRYPTOCAP:ETH will be goes towards $1k, while its Last Lower-Low target will be around $950-$850 maximum and $750 - $650 will be the minimum cut-off mark last time into this Bear Market. After this #BullRun completion, it will be major chances, that CRYPTOCAP:BTC & CRYPTOCAP:ETH also start trading under #ETFs fund then Ethereum will be also at new Highest point of #ATH approx. FWB:12K -$15k, it means if CRYPTOCAP:ETH will be reach-out min. $1k then upto FWB:12K -$15k , its easily gives you benefits of 12x-15x. Anyway, those are just predictions as per Technical & Fundamental Analysis as per market Acceptances of two most popular and top-2 #crypto Currencies in #CoinMarketCap. but, always #DYOR before investing into any #Crypto as well Trade wisely by using of #StoppLoss and It's just #NFA. Also, always LIKE, SHARE, FOLLOW & COmment on it...!!
Short
by AskToRahulSirohi
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
Nifty 50 Analysis!FWB:NSE : NIFTY Weekly Analysis! Rising Wedge Pattern in Nifty 50 Weekly Chart! Rising Wedge Pattern with Upside Breakout! Nifty 50 is trading at its all-time high, don't be greedy in this situation. We can see the strong upside momentum but hold your horses. We can see, I have applied fib retracement on the current price action(prev high and prev low). Now we may face strong resistance at the 20306.05 level because as per price action, NIfty has to establish support at the previous resistance level. Then we should find the following buying opportunities at this level. I have also marked the possible Demand zone on the chart one should consider this level for conservative investing. So as per my suggestion let the Nifty retrace because we are already in the greedy zone. I don't want investors to get trapped in this zone and hunt their stop losses. Disclaimer = All my analysis is for Educational Purposes only. Before entering into any trade - 1) Educate Yourself 2) Do your research and analysis 3) Define your Risk to Reward ratio 4)Don't trade with full capital
NSE:NIFTY
by Avinash9087
BNB Coin at Super Bearish Mode#Binance [ CRYPTOCAP:BNB ] Coin Daily Chart Analysis CRYPTOCAP:BNB Coin continuously falling towards #Downtrend in this Bear Market. This movements running as per Bearish Wedge Pattern in daily chart cycles from last 20 plus months and at present reaching into very dangerous situation... Basically, CRYPTOCAP:BNB coin best strong support was $185 to $200, and as per market situation towards #BearishZone, there will be major chances to break-out this support in September. If this Support breaks, then next Lower-Low support was around $125 and it is almost 45-50% down from present situation. So, Traders use #StopLoss, please #DYOR before investing in this high volatile situation on market. Also, LIKE, SHARE, Comment on it...
Short
by AskToRahulSirohi
1
BankNifty-Selling The Tops with Wedge: The Precise Peak 44650Hello All, Our tiny heroes reached a majestic peak at 44669 as per last idea published yesterday, just as we imagined in our dreams! This peak was not just a high point, it was a place where they could see the entire playground sprawling below. But as we all know, after reaching the top, there's a thrilling slide waiting! Our numbers decided to swoosh down, and guess where they are heading? Yes, you got it right, towards the fun zone of 44300, our lower band of support we chatted about yesterday! (Precise top at 44669 - What a sight to behold!) The Rising Wedge close to 44650’s the Rising Wedge! WaveTalks spotted - this intriguing pattern early on through last idea. It’s like a see-saw that's tilting ever so slightly, warning our number friends to be ready for a possible change in the direction of their play. And guess what? Our assumption came true! The numbers took a fabulous turn, bringing a rush of exhilaration to our adventure! (A fabulous start with a cautious note from the rising wedge) Intraday Targets 44400 44300 44150 Best Wishes from WaveTalks Remember, at WaveTalks, we're always listening to the whispers of the waves, sharing the secrets of the numbers' adventurous journeys. We ask, "Can you hear it?" The Last Idea based on 109 Session Moving Average Disclaimer: Trading in financial markets comes with its risks, and one might encounter dips and turns that could result in loss. Always consult with your financial advisor before making decisions in this adventurous playground. WaveTalks encourages a responsible and informed approach to the financial adventure.
Editors' picks
NSE:BANKNIFTYShort
by WaveTalks
31
IOLCP - A Continuation Wedge (Bullish)A Bullish Continuation Wedge is a pattern that emerges when there's a brief pause in an ongoing upward market movement. It's characterized by the formation of two trendlines that gradually converge in a downward direction against the prevailing uptrend. Throughout this consolidation phase, there's a struggle between the bearish and bullish forces. The bears aim to reverse the upward momentum, but ultimately, it's the bulls that emerge victorious. This is evident when the price breaks above the upper trendline of the wedge. This breakout is seen as a confirmation of the resumption of the previous upward trend, indicating that the bullish momentum is likely to continue. This bullish pattern can be seen on the daily chart of IOLCP. PLEASE NOTE THAT: 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:IOLCP
by hardeepssethi
28 Aug ’23 Post Mortem on Nifty - critical juncture 19310Nifty Analysis Contrary to the expectations, today turned out to be a boring day. The open was right at the SR level of 19310, still it was gap up as our prior close was near 19250 levels. Even then the resistance breach did not come then, we had to wait till 11.15 for a 5mts candle above the SR zone. BankNifty was looking in tremendous form today, we will discuss that separately in the analysis below. Due to this Nifty was also staying afloat, the real breach of resistance came at 12.30 only. And it looked like we may break out from the channel today. But by 14.05 it became quite clear that we will not have a break-out today. Surprisingly Nifty gave a final close below 19310 which still gives hope to bears. On the 1hr chart - things are still not clear. There is an overlap of 2 technical patterns. 1. Walling wedge 2. Bearish channel Most importantly the 19310 support/resistance stands in between. A break in support may cause Nifty to follow the bearish channel. Whereas a breach in resistance will give Nifty breakout momentum as it exits the falling wedge. I wish to go with a neutral stance for tomorrow till we get some clarity.
NSE:NIFTY
by viswaram
HDFC Life Insurance - An interesting CaseHere I am presenting an intriguing case involving HDFC Life Insurance stock⚡ On the left-hand side 👈 we have the weekly chart where two distinct zones emerged: a support zone and a resistance zone. An attempt to breach the support zone, occurring around 500, was made; however, this endeavor ultimately lacked follow through 😐 This resulted in a sudden and pronounced upward surge that propelled the stock past the resistance zone, situated around 617 🦾 On the right-hand side 👉 we have the daily chart. You can observe that the breakout of the resistance was not only successful but also promptly retested within a few trading sessions, leading to a resumption of the upward movement 🥂 Nonetheless, the stock encountered difficulties while approaching the 700 zone, culminating in the formation of a rising wedge pattern. It's worth noting that such a pattern is deemed bearish within the context of technical analysis ⚔ Subsequently, the stock experienced a retracement and has since retraced back to approximately the breakout level of 617. This specific level has previously acted as a point of resistance, thereby suggesting a likelihood of role reversal (may act as a support this time). Moreover, a closer examination of the candlestick patterns reveals that they have become narrower in proximity to the support area, indicating a potential waning of selling pressure👍 Furthermore, a falling wedge pattern, characterized as bullish, has also manifested. Should the stock's price successfully breach this wedge pattern to the upside, it may pave the way for an upward movement towards levels around 660, 700, or even 750 🚩 It's important to consider that this perspective would lose its validity should the price fails to escape the confines of the falling wedge pattern or commence trading below 600. Thank you 🙏 for taking the time to read this analysis. If you find it insightful, please express your support 🚀 and anticipate more such ideas in the future 💰 Disclaimer: This is not an investment or trading advice. Please apply your own due diligence before investing your hard-earned money.
NSE:HDFCLIFELong
by Bravetotrade
17
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.
NSE:NIFTYShort
by viswaram
5
BankNifty:Tale of Triumph and Trials,Bulls or Bears-Which Side?Netflix - Scoop The riveting Netflix web series "Scoop" brought to life a powerful saying from the book **"Behind Bars in Byculla: My Days in Prison" by Jigna Vora**. The line, **"If someone says it’s raining, and another person says it’s dry, it’s not your job to quote them both. Your job is to look out of the window and find out which is true" is a fitting metaphor for our exploration of the BankNifty index.** Here, we don't just parrot what others say, we strive to unravel the truth behind the numbers and the patterns. **The story began at WaveTalks**. On the 25th of July, 2023 we published an enticing TradingView idea focusing on the BankNifty Index and outlined an **Expanded Ending Diagonal** . For the adventurous risk takers, we pointed towards potential targets: - First stop at 46155 - A second milestone at 46263 - The final leap to 46369 The narrative took a thrilling twist on the 27th of July, 2023 . The Index raced towards our 3rd target, pausing just short at 46310. Then, it took a breathtaking nosedive, shocking the bulls with a Niagara-like fall from the highs of **46310 to the lows of 45238**. **Now, traders are left wondering, "What's next?" The markets never sleep, so our story continues...** **On the larger timeframe-4 Hour Chart** We're seeing the formation of a tantalizing pattern - a potential rising wedge once again. **But here's the caveat**: **the Index needs to hold its footing at the crucial psychological level of 45525 to bounce back upwards.** **If we stand firm above 45525**, we're looking at an exciting upward trajectory: - First target at 45790 - Second target at 46300 - Third target at 46500 - **And if we cross beyond 46500**, we're aiming for a final target between **46900-47000+**, coinciding with the completion of the wedge pattern. **Here comes the thrilling climax**. **What happens after reaching a new all-time high?** Brace yourselves as we could see a rerun of the Niagara plunge from the 27th of July, 2023. From the new all-time highs of around 47000, the Index could potentially tumble to 43345, as marked by the menacing black arrow downside. **WaveTalks** wishes everyone a joyful weekend! As we delve into the narrative of BankNifty, we ask you - are you siding with the bulls or the bears? Stay tuned for more, and remember, it's not about echoing what others say, it's about understanding what's unfolding in the market.
Editors' picks
NSE:BANKNIFTY
by WaveTalks
18
Refex Industries - 25% of Upside!Refex Industries opened up with a gap few sessions back. It has created a wedge then, a gap and then a wedge and now a breakout, Can't be strong technically anymore. The price has a potential to move to the upside of 25% straight. PS - I am founder of Tactic, we get you the Trade Ideas of top SEBI registered users across Intraday, BTST & Positional. We are trusted by 1000 users, we will be glad to have you as a user. Do check us out from my bio. Thanks
NSE:REFEXLong
by parvezdosani
3
Larsen case studyLarsen spot cmp 2480 Weekly time frame Elliot wave study Counter is trading in last leg of motive phase which might mature around current levels. v of 5 is in play, Ascending wedge pattern indicate counter is overbought as its trading above structure. RSI and MACD have bearish divergence with respect to price. Last week counter made high of 2483 levels and today it made high around 2493 levels, As per measured move wave 5 should mature around 2500 levels so till counter does not give weekly close above 2500 levels , long should be cautious.. Counter have out performed rest of the counter in this last rally of over all market. Now its time for counter to give away. Keep watch, if this study pans out counter can give good fall going ahead.
NSE:LT
by RUDRA007
1
PostMortem on BankNifty Today & Analysis of 23 JUN 2023Even in spite of the recent greenish momentum, we were all looking for a bearish breakthrough. I cannot say with 100% confidence that we are on the verge for a timely correction - but the markets are quite indicating that way. Banknifty is again scoring over Nifty50 by staying more stable and swinging lesser. Today's episode may be linked to ADANIENT, but over the past few weeks - I think Nifty50's volatility is higher than Banknifty. Mainly because the options premium & the daily price swings per strike depends on the uncertainty of the underlying. And if you are an option seller, nifty's options gave more bang for the buck compared to banknifty. --- Banknifty opened slightly gap down, filled the gap immediately and then made a downswing. The LOD was 43519 at 09.35 which was recovered pretty quickly. By 10.25 BN turned positive and maintained ground. The session from 12.45 to close made some price action which showed a sentimental level weakness - but nothing serious. In fact Nifty50 hit its LOD during the closing minutes, but not banknifty. --- Nifty50 1hr chart shows the trade that was carried out today was below the resistance zone for 18762. Yesterday's trade was concluded right at this SR level and then today's breakdown helped the momentum to play its part. Yesterday also we discussed the price action forming a 2 legged downward move --- Banknifty's 1hr chart on the other hand is showing a converging price, the top keeps falling and the bottom stays steady. A falling wedge is a bullish indicator - but at present I dont see signs of outright bullishness.
NSE:BANKNIFTY
by viswaram