This stock is very interesting for me. Why? Let me explain
Let's start with monthly chart.
Last time it touched 200 level it bounced back like anything and again it touched level of 200 and this time also it failed to break those level and more interestingly it created a W pattern with Double bottom in longer term as...
HINDUNILVR | At long time trendline support, very important level and looks W Pattern to my eyes.
CMP : 2026
SL : 1930
Target : 2400
Almost 1:4 risk reward
(P.S : Have shared atleast 110+ charts in tradingview community and i used to put a google spread sheet link where i have the records analytics i post with the live status. But due to tradingview rule they...
Price action lovers must be watching it like a hawk but we have lot of things to understand. Let's try to understand few...
1. Price action is showing that it has stopped making new lows.
2. Made a W Pattern already(We just need to wait for the neck line break).
3. Taking support at 200 EMA with gap also acting as support.
4. Volumes ? dont forget to look at the...
Timken India broke out from its resistance some time back and after breaking its resistance became support and as this is fresh retest it help itself beautifully.(Marked with big circles.)
After retest it made a w pattern which is again a beautiful sign that stock does not want to go down.
Small circles denote the present resistance at 1130. It has already tested...
PREVIOUSLY BUY TRADE IDEA POSTED ( LINK SHARED BELOW FOR REFERENCE)
POST WHICH NOW
***W*** PATTERN FORMATION ON 15 MN TF - ( HARMONIC PATTERN )
WHICH USUALLY GIVES A FALL ON PATTERN COMPLETION.
BASED ON THEORY - SALE WUD BE TRIGGERED @ 630 - 32 LEVEL
disclaimer - join you own study to take trade.
The KEI Industries chart is following W pattern. I had prepared KEI International chart on 18-11-2020.At that time, price was 365 and today it is 424 which is ~16% rise in just few days. (I am unable to attach png file of 18-11-2020 chart of KEI Internatioanl here. Do let me know in comments if there is any way for that. I used to save all the charts in png format...
After almost 2500 points rally price consolidating for the last three months and reached the resistance levels, if breaks this level then it will make new high. Interestingly price is making W pattern and it is almost going to complete the pattern by touching the ATH levels.
Shree Cement is on a clear downtrend. But the W pattern would make one think that downtrend has come to an end as it is a bullish reversal pattern seen at the end of a downtrend.
Here's why I'm short:
1) Bearish engulfing candle. (right at important level where if it crosses above, would make one to take a long position)
2) Bearish engulfing candle after a nice...
A great price action in the place. All the price action lover must be looking at the important levels.
Few points to consider is this stock came for the first time to the support or say gap acting as support along side a break of trendline from top is another signal that it might go up & making a W pattern while going up can be another signal too.
A parallel price action zone between 32 to 40.. Price rarely moved out of this zone & any move beyond the zone rejected sharply.
There are multiple attempts to cross the 40 but every time rejected violently.
Once price fell out of 32 support zone .. It corrected sharply following the bullish W pattern.
Now there is another attempt & price is above this zone.....
Zeel is at the possible breakout stage of a monthly trendline in daily as well as 1 hourly time frame.
Reason to Buy:
1) Healthy 'W' patten break out.
2) Buyers dominance at lower levels.
3) Monthly trend line break out.
4) Increased volume levels.
Best place to enter at 225.00.
SL should be at previous support i.e near about 215.50.
PS: Stock is known for...
2 rounding bottoms combining with double bottom pattern and then consolidation near resistance level & 200 ema seems good.
Today's volume and closing gives a better sign tooo.
Keep an eye folks. Happy Trading.