Here is an interesting one. One of my favourite thing to see in a chart is one formation leading to the development of another formation.
Here, on the daily chart, Prince Pipes formed a perfect Flag and Pole Pattern with higher volume in pole formation and lower volume during Flag. It gave a breakout of this pattern and retested the level. In doing so it formed...
Price action analysis for Intraday Trading.
Price is consolidating in a parallel channel for quite a few days. From the lower side either there can be support or a fresh breakdown could give a good move.
Lemon Tree is getting ready for a big rally. It formed an Inverted Head and Shoulder pattern on the daily chart. With the opening up of the tourism sector after a long time, Lemon Tree will surely be a beneficiary of the ease down and revenge tourism in the coming days.
Target 1: 53-55
Target 2: 63-64
Godrej Properties gave a breakout of the Inverted Head and Shoulder pattern on the daily chart as predicted in my previous analysis. It is important to notice that the breakout came with a spike in volume.
Target 1: 250-260 points
Target 2: 370-390 points
On the lower side, the 1560-1620 level will act as a support for the price.
The previous analysis link is...
Posted my analysis the day before yesterday with levels....target hit on the second day only......wasn't sure whether it will hit the second target so I marked target 1 on the chart. But boom....it went like anything today.
The previous analysis is liked below.
TechM formed a double bottom on the hourly time frame. Right now price is trading near the supply zone. we may see some good movement in TechM in Intraday/Swing trading.
Levels are marked in the chart itself.
Bajaj Finance Ltd. formed a Flag and Pole formation on a daily time frame.
Details are given in the chart itself. View it in detail.
Target 1: 750-770 points
Target 2: 1450-1500 points
on the upside.
The downside level of 7000 will act as psychological support for the price.
Godrej Properties is on its way to make an Inverted Head and shoulder Pattern.
right now the price is trading 6-7% below neckline resistance. We may see it at the neckline very soon.
If the price gives a breakout of the neckline then we will see a big move from Godrej Properties in the coming days.