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Havells had a W-pattern break near March 2020 lows. The W and M patterns are very commonly seen on the candlestick charts. W patterns are bullish in character and are generally seen at the bottom of a downtrend, whereas M patterns are bearish and are seen at the top of a rally. The stock made new highs in Nov 2020 followed by strong follow up bullish candles...

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Bollinger Bands -------------------- We all are familiar with the much popular Bollinger bands (BB). It has two bands - Upper BB and Lower BB. These bands envelope the price of an instrument and are plotted at a standard deviation level above and below a simple moving average (sma) of the price (20 sma in most cases). BBs help in determining whether the price is...

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This chart presents three major cycles. Each cycle representing a decade. First cycle worked in 90s; second one in the first decade of 21st century and the third one in the second decade. Perhaps we are in the fourth cycle that would represent the third decade. The first two major cycles ended with more than 62% percent correction of the entire decadal bull run....

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Scale In: means buy more shares as the stock progresses in your direction. Its better to buy 50% position initially and then buy 33% and 17% as the trade favors us. One may also buy in three equal parts of 33% each. Scale Out: means exiting from a profitable position in pieces. Its better to sell 17%, 33% and then 50% to take the full profit potential of a trade....

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Separating Lines ============== Its a rare 2 candlestick pattern. Basically a continuation pattern but sometimes can also be seen at the end of a pullback. In an uptrend, you will observe a strong bearish day with poor closing but next day the stock opens at the open of the prior bearish day. Thus it negates all the bearishness of the previous day and forces...

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Triangles are one of the best continuation patterns. They are normally seen in the middle of a trend as the price halts and rebuild energy to resume in the direction of prevailing trend. In this particular variation shown on the chart, the price breaks against the trend. It would look like as if the pattern is about to fail but the breakdown ends up in a trap. It...

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Here are a few setups that I use in my day to day trading. They work well in all the timeframes and in all types of markets. I am only showing bullish scenarios due to space constraint but one may also look for bearish scenarios which work in the same manner. Like Down trendline or Downward sloping channel; downward sloping MA; breakdown of a range; and price...

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Hi Its been a while since my last post. In this post I have represented selective candlestick reversal patterns. In a candlestick, "body" represents the distance between candle OPEN and CLOSING price. Whereas "wicks" represent the entire range of the candle from TOP to the BOTTOM. In most of these patterns only bodies are important. There are no conditions for...

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I think almost 95% of the traders fall in these four categories. More than 50% trades could not even step up to learning stage. The problem with most beginners is either their get rich quick approach or inability to adapt to the market environment which is highly volatile in nature. Many traders enter the market with investment approach and then they become...

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This is where a cup & handle would have more significance -- At the bottom of a downtrend. The price decisively crossed the neckline near 490 and is pulling back for a retest. A hold near the neckline may push the price towards 587 and later 794. Just notice how the C&H target coincides with the prior highs. Regards JJSingh

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Three signs of strength witnessed on this chart: 1. Shortening of the thrust -- Price breaks the lows but there is not much follow through. 2. Ease of movement in three up waves as price bounced back from 14250 support zone. 3. Higher lows formation under 15000 as psychological flat resistance zone. Two signs of weakness: 1. Price breaks out of 15K zone, which is...

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Notes on the chart. Regards

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The charts posted below are for educational purpose only. If Nifty does not perform, these stock may also not perform. If Nifty performs, some of them may outperform. 14350 should be a panic stop for Nifty with 15300, the upper end of range, as target. Always take calculated risk on any trade. Regards

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W-shaped patterns work best at the bottom of a major downtrend but they can also be seen as a trend continuation patterns. On this weekly chart there are three W-shape bottom formations that appeared in 2018, 2019 and recently in 2021 and all the three appeared with in an existing uptrend. In such a case we can play this pattern with conservative targets. In the...

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For all the basic stuff that I am using in this post, you will have to visit the following idea. This post is in continuation of SBI weekly divergence study.. Abbv. used: Overbought -- OB Oversold -- OS Divergence -- Div A-- OB B-- Div after OB at A C-- Double top and Div Multi week correction back to support D-- OS at support and very sharp rally due to...

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There is lot of useful information for traders and investors. So not writing much in notes. May be you will have to adjust your charts to accommodate everything so no excuses for that. JJSingh

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These extensions are based upon external relationships among waves 1,3 and 5. Length of waves are added on top of each other. W3 could be equal to or 1.618 of W1, when added on top of W1. In this case W5 would be extended. But if W3 is more than 1.618 of W1 then W5 would be shorter than W3. In case of extension, W5 could be equal to 1.618 times the length from 0...

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Hi There are 3 popular Fibonacci tools viz. Fib retracement, fib extension and fib projection. Most of the times traders get confused with these three and make wrong calculations. These levels can be calculated manually but most advanced trading platforms provide tools so that you don't have to go through the time consuming process of writing everything on the...