Intellect giving breakout on hourly chart on falling trendline breaking out a triangle pattern too looking consolidation is over now for some retracement so we can go long in this stock for the target of 477 and if break 477 and sustain above so we can hold for the second target of 498 too stop must be close below from falling trendline.
NOTE-: This is not and...
INTELLECT:- Head and shoulder pattern has formed, wait for breakout, till then keep your eye on the stock
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get...
Analysis Criteria Used:
1. Please find the Chart Analysis done for the Swing Trade Ideas 24th April, 2023
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your Trade and...
The structure indicating that the scrip in last leg of corrective phase - wave 2
Crossing Swing highs would make a valid Inverted Head & Shoulder Pattern - as the move in head was a clean 5 wave structure. A probable Trend reversal on long term chart.
We would be looking to have a starting position on green closing (daily TF) and add as and when the swing high...
This Stock has done a golden ratio correction of the rise from Covid bottom & we have seen a 5 Wave rise from lows.
The rise from covid lows to highs was a clear impluse & correction was in 7 Swings which makes it a ideal Wave 2 ending exact at 61.8% levels so if the stock is starting Wave 3 we might see this stock do a 5x.
I am not a SEBI Registered analyst...
INTELLECT
Key highlights: 💡⚡
✅On 1hr Time Frame Stock Showing Breakout of Falling wedge Pattern .
✅ Strong Bullsih Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of Above 674+.
BUY Intellect closing 461.6 with stoploss 420 then targets are 500-550-600-700.
Buying Reason.
1 --> Price made the ragne and wait for breakout.
2 --> RSI is ready cross 60.
3 --> ADX is show the Bullish move +DMI is bullish.
4 --> Bounce from the Demand Zone.
INTELLECT is taking rejection from resistance. It's next destination could be on marked support.
Only for educational and knowledge porpose, no suggestions foe trade
Intellect design is in a downtrend and has given another breakdown closing after a long consolidation, if it start sustaining below PDL, we may see further downside target here.
NSE:INTELLECT
Analysis after 9th dec 2022 closing
Wave Count - Last leg for C wave is remaining.
Berish Revered Divergence - which indicates buyers exhausted.
Weekly TF - Last week closing was formed bearish engulf candle for Weekly TF.
What if Analysis,
Next T. Day if Huge GAP UP wait for to break 420 Rs support for confirm Entry.
...
04.11.2022- made a bullish engulfing on volume, followed it up today with volume, but would have preferred a better candle. 400 is a support zone since 0.382 levels are there .Concern is obviously the negative price action and has it made a H & S, the only issue being the right shoulder should have been taller. Majority of the volume play on daily is at 420...
