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Wpattern

Timken India- Break and Retest and potential RiseTimken 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 it twice and reached there for the third time. Volume in today's candle is also pumping up. A break above 1130 might give some wings to this stock. Keep an eye folks and Cheers.
NSE:TIMKENLong
by LearnersParadise
Hdfc Life:- Price action suggesting buyPrice 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 towers marked in circle. 1 Question for everyone who generated those volumes? You? Me? someone big? 6. Trendline break with confirmation is necessary. Levels will be plotted on chart. Keep an eye folks. Cheers and Happy Trading.
NSE:HDFCLIFELong
by LearnersParadise
4
Failing W pattern in Shree CementShree 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 bull run. 3) Stochastic RSI overbought. Target: 18000 SL: 20720 I've also given a screenshot of Shreecement in a lower time frame of 15 min, which gave me further conviction to go short.
NSE:SHREECEMShort
by bhagat109
Muthootfin-A great price actionA 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. But remember folks it can't go up straight in one line so it should hold at this level for some time and after that when it breaks it should go up real fast.. Keep an eye folks. Hope it helps. Disclaimer:- I am not SEBI registered. Trade with your own risk and trade with caution.
NSE:MUTHOOTFINLong
by LearnersParadise
BirlaMoney: Overcame Supply zone ( W pattern trading)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.. Good volumes are appearing in the chart which indicates this time it could break the barrier, Target would be 52 rs.
NSE:BIRLAMONEYLong
by finalyticsbreweries