NSE:BANKNIFTY is Trading in a narrow price range from date 24 nov to 4 nov.
41,500 is crucial level for banknifty. Its a strong resistance or supply zone. Banknifty is trying to break this resistance. On Nov 1 it succeed to break resistance but not able to sustain. Also this level is tested for multiple times.
On the other hand, 40850 is strong support. 2...
If you observe chart you can see a falling wedge pattern in ITC after an Uptrend.
Generally in such situation there is a major chance for trend continuation after Falling wedge pattern successful breakout.
Here I have marked A and B points that are nothing but the two points on the trend lines.Upper trend line is Resistance and Lower trend line is Support.
We can clearly see cup and handle pattern formed in DABUR. also it breakout today. & looking bullish for positional target.
CMP : 589.75
Cup & handle pattern is well known for a positive side breakout.
Today it Breakout & closed above the resistance line.
Breakout volume is greater than the moving average of volume...
Deepak nitrite recently breakout through the Resistance zone. You can clearly see in the chart. I have marked two zones Resistance zone and Support zone. Since one month stock was trading in between these two zone.
CMP : 1882.35
Today it breakout with a great amount of volume. Todays volume was above the moving average of volume of 20...
Ascending Triangle Pattern formed in Kei Industries. I am referring 1D candle.
CMP : 722
You can clearly see a Rising Lower trendline which is acting as a support line. Many times stock is taking its support and rejected the downside movement.
Upper trendline is flat acting as resistance line. Many times stock touched that line or tried to go out of the pattern...
ABFRL ready for a short term positional trade for target price 241.
Morning star candlestick pattern :
Its a bullish trend reversal pattern having very good result when occurs in a down move or a down trend.
Symmetric triangle pattern breakout with a Large bullish candle.
Volume at breakout candle is above the volume...
Infosys price is running between a channel.
Security-wise average deliverable percentage for May 2021 till 21-05-2021 is almost 57%.
If stock successfully breakout the channel, we can expect an upside move for a new positional entry.
Fundamentally the company is performing very well. Also dividend of Rs.15 per share is declared.
After breakout, wait for a pull...
It is an Inverse Head & Shoulder Formation.
On 18 may 2021, There is a Candle with a good volume breaking the Neckline of the Pattern. This is a positive sign or a confirmation for an Up move. Stock price is taking support of a Neckline. If stock shows some up move and when it breaks the nearest swing high (red candle next to the breakout candle) we can take...
Chemcon is consolidated between a price range, which forms a channel pattern.
Upper line is Resistance line and lower line is Support line
You can see many times the support & resistance tested as well.
In such patterns we can take positional entry at the breakout point. How to calculate the target?
I have marked resistance and support points namely A & B...
NIfty50 stock BPCL formed Ascending triangle pattern.
You can see Rising lower trend line having ascending Higher Lows and a Flat upper trend line acting as resistance line.
I have marked A and B point, to calculate the target.
Price at A point = 252
Price at B point = 478.65
Formula to calculate the target is
Target = (Price difference between A & B) + Price...
My idea about TCS is clearly visible in Chart.
You can see a Ascending Triangle Pattern formation. Its mostly known for a Positive direction breakout.
We have a lower ascending trendline which is also acting as a support line. You can see Higher lows. Whenever there are higher lows we can say stock is in Up trend.
Upper horizontal trend line is resistance line,...
Symmetric Triangle formed here can lead stock for an Up move to the 2617 as we can see Resistance line.
So If triangle breakout successfully we can get our first target for short term (1-2 weeks) at Price level 2617.
Next target can be 2765 & 2896 (For long term)
If pattern breaks down, stock can take support near 2364