Morning StarA morning star is a visual pattern made up of a tall black candlestick, a smaller black or white candlestick with a short body and long wicks, and a third tall white candlestick.
The middle candle of the morning star captures a moment of market indecision where the bears begin to give way to bulls. The third candle confirms the reversal and can mark a new uptrend.
Script = ABFRL
Time Frame = 1 Day
ABFRL trade ideas
PERFECT EXAMPLE OF SUPPORT & RESISTANCE ABFRLStock is giving a good example of support and resistance the main factor which worked in stock market or in stocks.
𝐒𝐮𝐩𝐩𝐨𝐫𝐭 𝐚𝐧𝐝 𝐫𝐞𝐬𝐢𝐬𝐭𝐚𝐧𝐜𝐞💡
𝐈𝐟 𝐭𝐡𝐞 𝐩𝐫𝐢𝐜𝐞 𝐟𝐚𝐥𝐥𝐬 𝐛𝐞𝐥𝐨𝐰 𝐚 𝐬𝐮𝐩𝐩𝐨𝐫𝐭 𝐥𝐞𝐯𝐞𝐥, 𝐭𝐡𝐚𝐭 𝐥𝐞𝐯𝐞𝐥 𝐰𝐢𝐥𝐥 𝐛𝐞𝐜𝐨𝐦𝐞 𝐫𝐞𝐬𝐢𝐬𝐭𝐚𝐧𝐜𝐞. 𝐈𝐟 𝐭𝐡𝐞 𝐩𝐫𝐢𝐜𝐞 𝐫𝐢𝐬𝐞𝐬 𝐚𝐛𝐨𝐯𝐞 𝐚 𝐫𝐞𝐬𝐢𝐬𝐭𝐚𝐧𝐜𝐞 𝐥𝐞𝐯𝐞𝐥, 𝐢𝐭 𝐰𝐢𝐥𝐥 𝐨𝐟𝐭𝐞𝐧 𝐛𝐞𝐜𝐨𝐦𝐞 𝐬𝐮𝐩𝐩𝐨𝐫𝐭. 𝐀𝐬 𝐭𝐡𝐞 𝐩𝐫𝐢𝐜𝐞 𝐦𝐨𝐯𝐞𝐬 𝐩𝐚𝐬𝐭 𝐚 𝐥𝐞𝐯𝐞𝐥 𝐨𝐟 𝐬𝐮𝐩𝐩𝐨𝐫𝐭 𝐨𝐫 𝐫𝐞𝐬𝐢𝐬𝐭𝐚𝐧𝐜𝐞, 𝐢𝐭 𝐢𝐬 𝐭𝐡𝐨𝐮𝐠𝐡𝐭 𝐭𝐡𝐚𝐭 𝐬𝐮𝐩𝐩𝐥𝐲 𝐚𝐧𝐝 𝐝𝐞𝐦𝐚𝐧𝐝 𝐡𝐚𝐬 𝐬𝐡𝐢𝐟𝐭𝐞𝐝, 𝐜𝐚𝐮𝐬𝐢𝐧𝐠 𝐭𝐡𝐞 𝐛𝐫𝐞𝐚𝐜𝐡𝐞𝐝 𝐥𝐞𝐯𝐞𝐥 𝐭𝐨 𝐫𝐞𝐯𝐞𝐫𝐬𝐞 𝐢𝐭𝐬 𝐫𝐨𝐥𝐞.
𝐍𝐎𝐓𝐄-: 𝐓𝐇𝐈𝐒 𝐈𝐃𝐄𝐀 𝐈𝐒 𝐎𝐍𝐋𝐘 𝐅𝐎𝐑 𝐄𝐃𝐔𝐂𝐀𝐓𝐈𝐎𝐍𝐀𝐋 𝐏𝐔𝐑𝐏𝐎𝐒𝐄.
𝐑𝐞𝐠𝐚𝐫𝐝𝐬-: 𝐀𝐦𝐢𝐭 𝐑𝐚𝐣𝐚𝐧
ABFRL AnalysisABFRL on weekly timeframe is showing early signs of reversal, the stock is currently consolidating around 50% retracement level from Covid low to ATH and after a correction from top, since last 4 weeks it is making base here.
This may even turn out to be higher bottom in comparison to June low.
Overall the level is also at a channel trendline support zone and does provide a low risk entry here.
On daily time frame, the stock is trading in a range and has formed a morning star pattern with a 20dema breakout as well. The volumes were also good in today's session. RSI is also gaining momentum with a some hints of positive divergence ..
ABFRL : Short Trade OpportunityGood Day,
Hello Traders,
ABFRL is ready for a big downside as it went through different phases
Firstly, it was in a parallel channel upside from Feb 21 till May 22.It incldes a HEAD and SHOULDER pattern which it formed during this phase.
It broke the neckline in June 22 with a heavy sell off in the weekly candle.
Suprisingly , it rallied since July 22 till Oct 22 unprecendently.
It followed up with a Big sell off..
This time around the Sell off is done with Heavy Volumes.
Big downside is evident. Good candidate for Short side.
Time Frame : Weekly
It also depends how market behaves.
Chart Self Explantory.
Disclaimer : I am not SEBI registered analyst, this is for educational purposes.
Please trade as per your risk and do consult with your financial advisor before taking any
trading decisions..
If you really like the analysis , please do comments, LIKE and Follow me.
Breakdown in Aditya Birla Fashion And Retail Limited...Chart is self explanatory. Levels of breakdown, possible down-moves (where stock may find support) and resistances (close above which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE ABFRL – Motive Cycle BeginsTimeframe: Daily
NSE ABFRL has been forming into the corrective formation for more than 15 weeks. This manner of the price is corrective because it is falling steeply into the channel.
As per the rule of the channel, the corrective wave respects the channel because they don’t have the power to break out from the parallel lines. The impulse breaks the channel, whereas the correction forms within it.
Currently, the price has accomplished wave 5 of wave (C) at 240 , and the price started lifting near the upper band of the regression channel. This breakout can be a holy grail for bulls to reach near wave (B). Safe traders can wait for the retracement to ride the impulse.
Aditya Birla Fashion Retail LimitedABFRL (Daily):
- Stock is taking support on Rising Trendline
- ABFRL is consolidating near support (Trendline Support)
- Can consider going long above closing of 258 levels
- Stock has given closing above 20 Days MA in Daily Time Frame
- Also RSI is reversing from Oversold Zones in Daily Frame
Note: Above analysis is just for educational purpose.
ABFRL - Low risk High Reward Trade on Breakout RetestABFRL - On the 15-minute time frame Aditya Birla Fashion has breached a key level, and current trend is bullish on higher time frames.
Entry should be made on a retest of the breakout, and stop loss should be kept below the key level zone.
I hope this analysis was helpful to you. If so, I would appreciate it if you would like it and follow me on TradingView for more of these kinds of analysis.
Disclaimer: I am not SEBI registered and this analysis is not intended to be financial, investing, trading, or other sorts of advice or recommendations.
ABFRL Trend AnalysisABFRL is at strong support. Trade with a tight SL
DISCLAIMER: I am not SEBI registered analyst. All posts are for educational purpose only. I am not responsible for your any loss or profit. Consult your adviser before taking any trade. I help people to learn technical analysis & charts reading.
[Intraday] ABFRIL 3BBR Buy BetNote -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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