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Wpattern

18 Mar ’24 — Is Nifty above or below 22051? Check Chart closelyNifty Analysis - Stance Bearish⬇️ Recap from yesterday: “The only reason we pushed through the resistance yesterday was because of NiftyIT. And today NiftyIT started with cuts of -0.9%. Do you agree with me now that the main villain is NiftyIT which is preventing Nifty50 for a smooth directional trend?” 4mts chart Is Nifty above or below 22051? I must change the stance from bearish to neutral if it's above. If it's below - then the bearishness continues. As per the chart, Nifty closed at 22051 while the weighted average close was 22055. For some reason or another, I did not feel like punching manual orders today, I just let the algo orders do their magic and was keenly watching the chart and doing nothing. I got a bit excited when Nifty started falling i.e. 11.11 and 11.15 candles when Nifty went till 21916. My marked support was at 21913, so the eagerness was to check if we would break that or not. If you take a look at the chart, we had multiple instances of touches at 22051 levels, by 14.19 I almost felt we were breaking out and then the bearish positions may go into deep losses. Somehow or the other, I am not able to relate to the price actions of Nifty50, NiftyIT, and BankNifty these days. All 3 of them are never in agreement and you club the “weak hands” holding the CE shorts - a recipe for disaster. The CALL sellers run for cover now and then creating the quick ripples, and then it fades out 30mts hence. You won't believe me if I said Nifty50 has made a W pattern (double bottom) on the 63mts timeframe. Take a look, you could spell the entire “W”. Interestingly it has formed at the crucial support of 21913. The only thing that could override this W pattern is the lower high, lower low formation. LH, LL will take precedence over a short-duration pattern all the time. For tomorrow, I would like to start the day with the bearish tone itself and see how the 22051 resistance holds. 63mts chart
NSE:NIFTYShort
by viswaram
JSL : 1-3 Months#JSL #trendingstock #momentumtrade #patterntrading Jindal Stainless (JSL) : 1-3 Months >> Trending Stock >> Stock in Momentum >> Good Strength & Volumes Buildup >> Low Risk High Reward Trade Swing Traders can Lock Profit at 10% & Keep Trailing Please give a Boost or comment if u r Liking the analysis & Learning from it. Keep showing ur Love by following Disclaimer : This is not a Trade Recommendations & Charts/stocks Mentioned are for Learning/Educational Purpose. Do your Own Analysis before Taking positions.
NSE:JSLLong
by moneyfesttrading
29 Jan ’24 — All 6 Green Candles, Nifty Stance UpgradedNifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “Yesterday’s W pattern is no longer valid as today’s action has nullified it. Our stance continues to be neutral with a slight inclination to the bearish side. It seems like FIIs are not done unwinding their positions — the run-up to the Budget 2024 looks interesting.” 4mts chart Two major things stand out today Nifty gets a small gap-up, but most gains came via trading - which shows how the control went to the Bulls. Zero pullback - one-way trip. Gifty was contradicting with a value of 21650+ and Nifty50 pre open was suggesting only an open around 21450 levels. The 200pts variance seemed pretty odd earlier in the day, but once N50 started steaming ahead - it made perfect sense. From the previous close, Nifty went up 394pts ~ 1.85% today - most importantly it took out the 21491 resistance with so much ease. The only thing that did not make sense today was India VIX rising 13% to 15.6 levels. 63mts chart We are changing our stance from neutral to bullish as we had all 6 green candles today. Ideally, the stance change should come only after the 21913 resistance breach - but we are taking a bit of risk here. The pattern played out to be a W (double bottom). We would now look for bullish opportunities and the first target would be 21913. The global macros are not looking good with the war in the Middle East, news from Taiwan, and news from N Korea. Hope our markets will give a strong clue in case the situations escalate.
NSE:NIFTYLong
by viswaram
swing trade for yearCertainly, let's replace the currency symbol with Indian Rupees (INR) in the analysis: ### Technical Analysis: #### 1. W Pattern - Double Bottom: The W pattern is a bullish reversal pattern that resembles the letter "W" and signifies a potential reversal of a downtrend. The double bottom within the W pattern is a positive indicator. #### 2. Breakout of Neckline: The breakout of the neckline is a crucial confirmation of the W pattern. It suggests that buying interest has intensified, and the stock may experience an upward trend. #### 3. Entry Activated: With the W pattern and the breakout of the neckline, the entry signal is activated. This is typically a signal for traders and investors to consider entering a long position. #### 4. Stop Loss at ₹260: Placing a stop loss is a prudent risk management strategy. In this case, the stop loss is set at ₹260, indicating a level where the trade would be exited to limit potential losses. #### 5. Target at ₹445: The target of ₹445 indicates the expected price level where traders might consider taking profits. It is crucial to have a target to lock in gains and have a predefined exit strategy. ### Conclusion: The technical analysis suggests a bullish outlook for Heritage Foods based on the W pattern, double bottom, and the breakout of the neckline. The entry has been activated, and the stop loss and target levels provide a clear risk-reward framework. However, it's important to note that all trading and investment decisions carry risks, and market conditions can change rapidly. It's advisable to monitor the stock's performance regularly and adjust the strategy as needed. Remember that this analysis is based on technical patterns, and it's always a good idea to complement technical analysis with fundamental analysis and stay updated on relevant news and events that could impact the stock.
NSE:HERITGFOODLong
by hunterhunt777
SPARC : Breakout Soon#sparc #swingtrade #momentumtrade #patterntrading SPARC : Swing / Momentum Trade >> W pattern clearly visible >> Volumes building up >> Good Strength in stock Low Risk High Reward Trade Swing Traders can lock 10% profit & keep trailing Please Like or comment if u r Liking the analysis & Learning from it. Keep showing ur Love Disclaimer : This is not a Trade Recommendations & Charts/ stocks Mentioned are for Learning/Educational Purpose. Do your Own Analysis before Taking positions.
NSE:SPARCEducation
by moneyfesttrading
HUL Analysis! W and Flag and Pole!HINDUSTAN UNILEVER ANALYSIS! HUL Daily Analysis! HUL Analysis with combination of Patterns and RSI! Double Bottom Pattern Formation and Breakout in HUL! Flag and Pole Pattern Formation and Breakout in HUL! HUL has made Double Bottom pattern on daily timeframe it has given a breakout to the neck level and retested it's support level on the Neckline only. The interesting fact is, during it's retesting treading sessoins it has made Flag and Pole Pattern and also given a strong breakout. So we have combination of Patterns now with proper Breakouts and Retests. We can expect further upmove in HUL. Nifty also trending upwards. Entry = Aggressive Investors can buy at current levels, Conservative investors can wait for small retest. Stop Loss = Below 2577.65 Targets= 1) 2689.80 2) 2740.20 3) 2790.25 or 2827.35 Disclaimer = All my analysis are for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your own research and analysis 3) Define your Risk to Reward ratio 4) Don't trade with full capital
NSE:HINDUNILVRLong
by Avinash9087
52
Double bottom chart patternICICI Securities given double bottom formation on chart breakout level is 577 if price sustain above 577 there will be more up side in stock you can place target up to 734 after This breakout level is resistance which will become support after breakout once it break 577 price will suddenly rise after it may be some profit booking for intraday traders those who take it at breakout because of this profit booking by very short term traders this will take price down so it may retest the level of 577 after breakout when it retest that level resistance will become support here again fresh buying will come those who not able to take because of fast up movement at breakout they are waiting to take again if price come at that level of 577 this will lead to take price again in up direction after retesting from here there may be a good move in stock for target of 734 Double Bottom chart pattern : This chart pattern is seems as " W " pattern where price comes down from higher side and give a price correction which make first bottom Then price again try to follow trend and comes down but price rejected to go more down by buyers and near support of first bottom it reject the trend continuation and this up move from support with first bottom create second bottom on chart which seems as "W" At previous correction high by price given last swing high this high is consider as breakout level for double bottom chart pattern This chart formation is a sign of trend reversal
BSE:ISECLong
by RA_Dongre_Ji
2