Have look at the chart & said patterns peacefully & act accordingly
Wait and enter in given support areas in small trenches
Trend & key notes are mentioned in the chart itself. Kindly have a glance
Date 16.03.2024 Bata India (weekly) Good risk reward for longs Taking support of long neckline of descending triangle Again make or break area
Date 16.03.2023 Asian paints ( weekly) Make or break for stock area after breaking ascending triangle & bearish pole & flag within that, now at support of 200 weekly exponential moving average & rsi is also at support. Good risk reward ratio for longs but remember fundamentally Brent crude prices are increasing and went unto $85 any correction in crude them...
Bank nifty is at make or break area from where 4% (1853 points) move either side possible. Make sure we see rsi oversold area (already at 15, limited downside in my view) & over bought area as well as any divergence with respect to trend continuation if breakdown or breakout. I believe this pattern will give good results in terms of trend understanding....
Axis bank breaking down most critical support band, 200 ema is make or break support/breakdown. Keep a close watch. This may drive the bank nifty sentiment as whole.
Important intraday set-up 13.03.2024 look for Fibonacci levels to below neckline
Further breakdown as mentioned previous idea over breaking down of channel alongside 200 ema
It broke the channel along with 200 exponential moving average. Let is resume the channel or 200 ema for longs therefore will have better stop loss or exit strategy. Vice versa for shorts.
Support & resistance set-up for 11/032024 with descending pole & flag
Rising wedge, higher highs with low range candles, play safe & carefully !!
Trade the momentum & see the support in case of any retracement
Neckline is very critical since it is same area for previous bearish rounding top & current bullish cup & handle. Therefore that's the range shift level for the stock. That is also 50% of Fibonacci. Cant be coincidence :) Place to trade for both longs & shorts.
Plan your next series accordingly based upon highlighted areas.
Closed at DOUBLE TOP resistance after todays 7.5% rally. Don't go blind long.