Aster DM is standing at the door of breakout passing which, could witness a massive move. Inverse head & shoulder pattern which was under construction from 9 months is ready for a breakout. Indications which are suggesting breakout is volume buzzing and RSI breaching above 60. After, breakout levels up to 236 is possible but till then, keep a keen watch on it.
The heading justifies the stock correctly and chart also indicate that lion is ready to roar once again after a pause of 7 months. Here, lion is referred as Balaji Amines who was asleep from last 7 months after steep fall but, now it seems that market has aroused the sleeping lion. Descending triangle was under construction since last 7 months and finally we're...
Speciality Restaurants have finally given the most awaited breakout above 182. This Cup and Handle pattern was under construction since 2015 and finally, after 7yrs it has given the breakout from the pattern. Also, the breakout is supported with volume & RSI , RSI is taking support at 60. NOTE: - This breakout is seen in long-term charts, hence should be...
After huge rally it seems that UKOIL which was stuck in range where distribution took place, can break the range down. This rally was indicated by me when Brent was 94, have a look: But, now it looks like the rally is over and it could start stepping down. Also, it has given a breakdown from head & shoulder pattern and along with this UKOIL has also broke...
NSE's "END OF SEASON SALE" is here, don't get confused from end of season I mean that may be this bearish season has came to an end, hence the shares are available at sale try to accumulate the compounders in your portfolio. What are the indications that suggest end of the season:- 1. India Inflation Rate: Inflation has formed triple top pattern with RSI...
India Inflation has formed triple top @7.88 , as visible on charts which signifies that inflation could come down. Also, RSI divergence is visible which indicates loss in strength from resistance level and suggest retracement in inflation. Below 5.81 inflation would be optimum and will favor stock market and economy.
In a series of educational posts we have covered so far the candlestick patterns and moving average crossovers, in this post we will elaborately cover the swing trading strategies. Let's start !! ->Definition of swing trading - : Swing trading is generally referred to a trade which is carried out for a short duration of time. Swing traders do not wait till the...
DLF has reached at a critical level from where it has given a bounce 3 times but this time RSI is not oversold so there is a chance of breakdown. If, breakdown is witnessed than short for target of 280 with a stop of 20EMA. BREAKDOWN LEVEL :- 302 And, also can hold short till RSI reaches 27.5. If, bounce witnessed than long for target of 345 with a stop of 298.
On daily basis, 'Elecon' has given a breakout from an inverted head and shoulder pattern which was under construction since November with buzzing volumes. On weekly basis, a breakout of cup and handle pattern is visible with rising RSI also RSI has breached above 60 which is a positive sign. On monthly basis, a breakout of 'N' pattern is visible which...
Nifty after a major fall was under base building formation for around 21 days with rising RSI i.e. positive divergence, and finally we saw breakout from the base on Monday with a gap and also successfully breached above 20DEMA which was an indication of exhaustion for the prior trend. But, after 20DEMA we were witnessing resistance @50DEMA since last three days...
Through series of educational posts we have got an elaborate knowledge of candlestick pattern which include both reversal and continuation patterns and this post is somewhat different from candlestick it's all about moving average crossovers. General concept of crossover is that a fast moving average surpasses slow one in any directional trend and could help you...
In previous idea of continuation pattern, which comprise explanation of some continuation patterns like triangles, flags and pennants it was stated that in next post I'll be back with patterns such as head & shoulder , double top and bottoms and we're back. As we have discussed in the previous section, that market can be either in trending phase or in a...
USDINR has reached it's upper range where it has faced resistance several times as visible on charts. Avoid fresh longs here and an aggressive could also take a short position here with very small stop loss. RSI is also facing resistance near 72 which is again negative sign. Although, USDINR could make some fall but, that is always good for the market and...
Market can be either in trending phase or in a range-bound phase. No trend generally lasts forever in the market. After prolonged or medium or shorter duration up and downtrend, the market often reverses and a move starts in the opposite direction of the prior move. Often we find that well defined geometrical patterns are formed in the chart which provides good...
Crisil have given breakout from a cup and handle formation above 3500 with peak volumes showing huge buying interest and sudden change in sentiment. Both RSI and MACD are showing positive signs. RSI has breached above 60 which confirms that bulls are very strong. MACD has also shown crossover which confirms change in sentiment. Precaution:- Since broader...
Death cross is visible in nifty also nifty is facing resistance at the falling trendline which is very negative. Both RSI and MACD is negative i.e. again bearish. Avoid fresh longs and short below 50D moving average i.e. 17129.
-> Definition of Reversal patterns :- Reversal patterns mean the formation of candlesticks which indicate the end of the existing trend (uptrend or downtrend). When such formation appears in a downtrend, it indicates a bullish reversal or end of selling spree and onset of buying spell. Conversely, when a trend reversal pattern forms in an uptrend, it warns...
Borosil Renewable has given breakout after facing resistance near 750 for two times with record volumes. Huge volume is visible which means sudden change in sentiment of buyers which is supporting the breakout. RSI has also breached above 60 showing strength which is again a positive sign. Though, MACD has not shown conformation but it seems that on next...