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CRAFTSMAN AUTOMATION LTD

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CRAFTSMAN trade ideas

CRAFTSMANVolatility Contraction Pattern is popularized by Mark Minervini, who is a two times US Investing Champion. Last year he won the championship with a record-beating 300+% in the year. He primarily uses VCP for his trading setups. It is a twist on the ascending triangle pattern with some variation. It has the following characteristics: The Stock must be in stage 2 uptrend. A period of price consolidation must take place in thebase. Price consolidation occurs after a stock has moved up in the price, the consolidation (or correction) is a constructive chart pattern that allows the stock to digest the bullish price movement. Price volatility must contract through the base (from left to right). During this period of price consolidation the stock price will correct. Price must correct through a series of smaller contractions. Each contraction should be tighter than the last, representing the absorption of more weak holders. Ideally this pattern has between2-4 contractions.
NSE:CRAFTSMAN
by lokeshparihar
Series of Bullish Patterns in CRAFTSMANCRAFTSMAN stock chart has formed a series of bullish patterns. Let's break it down: 📈 Inverse Head and Shoulders Pattern 📈 ➤ The inverse head and shoulders pattern formed from January 2023 to May 2023 at all-time high levels. ➤ Inverse Head and Shoulders is generally considered a bullish signal. 📈 Breakout and Retest 📈 ➤ On May 31st, 2023, a breakout occurred for the inverse head and shoulders pattern with good volume, indicating a potential upward move. ➤ The next day, on June 1st, a retest of the breakout level occurred at the neckline of the inverse head and shoulders pattern, further strengthening the bullish case. 📈 Ascending Triangle Pattern 📈 ➤ Following the retest, an ascending triangle pattern formed on the lower 15-minute time frame. ➤ An ascending triangle is a bullish continuation pattern, indicating potential upward momentum. 📈 Based on these patterns, the overall technical outlook appears positive. The inverse head and shoulders pattern followed by a breakout, retest, and subsequent formation of an ascending triangle suggests potential upward momentum in the stock's price. Consider planning a buy entry upon the breakout of the ascending pattern if you missed the entry at the retest of the neckline. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. I am not a SEBI registered analyst. Always conduct your own research and consult a qualified professional before making any investment decisions. 💬 Feel free to share your observations and insights in the comments section. Your comments and feedback are greatly appreciated. Don't forget to like this analysis if you found it helpful! 🤝 Thank you for your continuous support, likes, follows, and comments. Your engagement keeps me motivated to consistently provide valuable content. Follow me on TradingView for more articles and trade setups: in.tradingview.com 🚀🔥 Trading is a journey. Stay motivated and keep learning! 🔥🚀 Technical Terms Explained : Inverse Head and Shoulders Pattern : A bullish reversal pattern characterized by three successive troughs, with the middle trough (the head) being lower than the other two (the shoulders). It indicates a potential trend reversal from bearish to bullish. Breakout : When the price of an asset moves above a significant level of resistance, signaling a potential upward move. Retest : After a breakout, when the price retraces back to the breakout level, acting as a test to validate the breakout's strength. Ascending Triangle Pattern : A bullish continuation pattern characterized by a series of higher lows and a horizontal resistance line. It suggests potential upward momentum.
NSE:CRAFTSMANLong
by AfnanTAjuddin
Target 1 achieved in Craftsman Automation. Target 2 is ON...This is follow-up on Craftsman Automation. Can also check link to related ideas. Target 1 achieved. Target 2 is ON as it is trading above Ascending Upper Trendline (Channel Line). Here is previous chart. Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart. 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:CRAFTSMANLong
by MandeepSinghKohli