Bajaj Electricals is forming a Head and Shoulders pattern, noticeable in the weekly timeframe. Expect price to break the neckline and move about 295 points (Length of the Head) on the downside towards previous Resistance at 688.55 which should act as support (change of polarity).
Multiple Reasons to go short:
1. RSI - Std Bearish Divergence is seen in 1 Hr & 15 Min Time Frame
2. Head and Shoulders Pattern in tandem with what looks like a descending triangle pattern
3. Broke the trend line, retested at the extreme of the trend line, and moved lower.
4. Negative Price action constantly developing at VWAP
If price opens gap up near 20EMA or...
Adani Ports has formed a Head and Shoulders Pattern. Measuring Implications suggests a fall towards the zone marked below. (Nearly 180 Points).
The breakdown below neckline by a bearish trend bar followed by a retest and bearish follow-through candle will form the setup for a good shorting swing trade
Infosys has formed a Head and Shoulders Pattern, not the typical one as one may expect, as the right shoulder has been showing a sideways development near the neckline, without reaching to the high of the left shoulder. A breakdown below the neckline by a bearish trend bar followed by a retest and a follow-through candle (also a bearish trend bar) on the downside...
LT is in a Corrective Phase, following the completion of the Motive Structure. The phase is confirmed by the fact that it is contained within parallel lines. You can expect the correction to continue further. This analysis is based on Elliot Wave Analysis. This sort of corrective structure is not just in this stock, but almost every stock that has run up...
Looking at the Monthly Chart of NIFTY50, the 5 wave Motive wave pattern has completed its structure, with Wave 5 having reached the trend-based 1.618 Fib retracement level, which is typically the level up to which it proceeds. The market is expected to see a good Corrective move (ABC Pattern of any type), which could mark a recession period. This analysis is based...
The stock has been forming a perfect HIGHER HIGH and HIGHER LOW Formation with respect to the Uptrend.
I've Noticed the stock move from a LOW to a NEW HIGH by about 850 points on average and correction by 350 points to form a new HIGHER LOW .
On a net basis, the stock is clearly moving 500 points Higher every time from a LOW to a HIGHER LOW....
MUTHOOT FINANCE has been moving within a triangle pattern and is on the verge of a strong breakout (possibly a strong upside). A trending day is expected. Catch the ride to make good profits when the breakout occurs. The possible target is 1380/-.
Price met a resistance level at 635-640. After facing resistance, it fell to a low of 592, after which it tested the resistance level again and fell to a new higher low of 602. The price now seems to be consolidating at this new higher low. This consolidation 'may' continue tomorrow as well. There is a possibility of a breakout above the trend line to meet the...
The bullish trend sent the price above the high of the value area and sellers pushed it back towards the value area. There is a strong possibility for price to fall back towards poc of 467.85/-. That should be the target.
Price has been consolidating for nearly 2 weeks at a price range. RSI is showing weakness in momentum to sustain that price range and is showing divergence. MACD is also showing a bearish crossover. Price action seems to form a FLAG PATTERN. BUT it could also turn into being a ROUNDING TOP Formation. There has been an uptrend, with Higher Highs and Higher Lows,...
Flag formation seen in 1H chart. Bullish upside expected.
Take long position once upper trend line is broken.
Target expected is 2870 - 2880 levels
As always, trade at your risk and conviction. Cheers!!
Formed a Doji following a bullish candle. Evening star pattern formation.
Price Rejection also seen at POC of previous Value Area.
Clear Shorting opportunity !!!
Note: Take trade based on one's final decision.