Positional traders can take good advantage of this opportunity, as the market is slowly turning bearish due to covid crisis world wide, we might see correction in individual stocks as well, here LT has formed a head and shoulder pattern and it is currently near its neckline, a solid breakdown from that point can make it fall to around 2075 levels.
Persistent Systems have been trading in a broad range for the last few months. It has tested the bottom range thrice and now the prices are hovering near the upper range where we can also spot an accumulation and a confluence of the upper range and another resistance trendline.
As for the bearish section, there is a confluence of 200 EMA and the support...
DIVIS LAB has formed a descending triangle pattern with significant price action setups.
1. We can spot a supply zone that has been marked on the chart, a good amount of shares were exchanged at that price before the prices came falling down.
2. The price then took support from the demand zone as marked and made a new swing high which gave a breakout but with low...
HDFCAMC has formed a pennant pattern on a daily timeframe which is being backed by the support zone.
Reasons to enter -
1. Accumulating for the last 4 trading sessions.
2. Testing the trendline 3rd time.
3. Overall Market structure is bullish
Indusind bank has been losing steam after a big rally it is currently in a very critical spot with respect to its recent price action.
1. The price is trending at the recent support.
2. Price has formed a triple top before settling on the support zone in the last trading session implying the strength of bears in the market.
3. There is approx a 10% momentum...
HCLTECH looks super bullish and can be bought as a swing trade for the upcoming 3-4 months and a target of around 15-20% can be expected given that the overall market remains bullish.
Even when Nifty IT was performing low, HCLTECH held its ground and today it has finally given a breakout from its channel pattern.
The breakout can be confirmed with volumes and...
Gold is the best hedging instrument
Every sound investor knows that when the market turns grim, the best place to put their money is in Gold, Gold has always performed well during the times of crisis be it the 2008 crash or the covid downfall, or even in the recent Russo-Ukraine series of events.
Although the price of gold remains very volatile, today I will try...
BTCUSDT is currently trading on very crucial support, breaking it might cause more pain to BTC holders since the next support seems to be at around $33000 levels also the support has been tested multiple times and a breakdown can be expected, nevertheless it can also form a double bottom like pattern here and then rally up to the last swing levels which can give...
BNBUSDTPerp has been following a trendline for a while and it has just broken out of it while having a good consolidation at the top.
A long trade can be initiated Above 457 with a Stoploss of 450.650 and a minimum 1:2.5 target of 475
BTCUSDT has been consistently testing its resistance and currently, it's on the verge to test it 7th time there is a high possibility that it will give a breakout this time then retrace its path to the nearest resistance, take support from it and then proceed towards the 50k mark.
BPCL had earlier provided a double bottom and now it has broken out from a long trendline, it might retest the levels before starting a new journey towards the moon.
Trade with caution, use proper risk management.
BNBUSDT has been following a broadening channel pattern, it has been consistently taking supports and resistance.
A short position can be taken if a bearish candle is formed in the resistance zone, 1:3 Risk to reward ratio seems to be a good bet.
Netflix has formed a pennant pattern and currently its in a position to either give a breakdown or a breakout from this point. A proper trade can be initiated after either of those happens with good volumes.