See what happened in the Bank Nifty expiry day chart today. For a better understanding switch to a 5 mins time frame. Such pattern breakouts are less frequent but when they happen, they just blow out everyone. Your money actually doubled! Learn this and apply it in your trading. Best of luck!
Flag pattern breakout in Kotak Bank. Tgt = length of the flag pole. SL is below the consolidation low on a closing basis.
As I posted yesterday, we are now witnessing the breakout of the flag pattern formed in the hourly timeframe. Once we see price sustaining above the yesterday's high with good volumes, we can see the levels of 1730 to 1740 in HDFC Bank.
Flag chart pattern in HDFC bank chart on hourly candles. The target is generally the length of the flag. We have seen the necessary consolidation also played out in it. Go long for decent profits. Stop Loss should be ideally below the low of the consolidation pattern.
Another beautiful Head and Shoulder pattern is formed in Tata Communication on Daily and Weekly charts. The price is already above the neckline and has been sustained there. Good opportunity for going long with a stop below the right shoulder.
Head and Shoulder pattern formed in SunPharma a few weeks back. See how beautifully it worked out. That's the power of bullish pattern.
Head and Shoulder pattern in Monthly time frame. Very bullish since this is formed in the Monthly timeframe. Long long long......
This is the daily view of the same Grasim H&S pattern. Go long for a good 28-30% upside as per pattern. Trail the stop to capture bigger moves in coming times.
Head & Shoulder pattern in Grasim weekly chart. This will be a long position. Normally, with the tailwinds in manufacturing and infra development, cements are poised to do good.
This is the same graph in the Weekly time frame. Mentioned is the possible target only after the breakout from the neckline is confirmed on a weekly closing basis. Stop Loss will be the low of RIGHT shoulder.
H&S pattern has formed in the daily chart of LT. Once the prices start moving up, they can give the target up to the depth of the head.
A similar pattern can be seen in the Daily time frame as well. A basic estimate says that the target should be achieved by early November i.e. onset of Winter when the demand will begin to peak (common sense ;)). This looks likely until Russia opens up its heart (read supply).
Natural gas is given the Inverse Head and Shoulder pattern. Price broke out from the neck line and has retraced. This pattern will become more sustainable and powerful if we see another rally on the upside thereby confirming the greater chances of successful completion of the pattern. Fundamentally, natural gas prices are bound to go up given the shortage of it in...
Although I am more of a trend follower, dabbling into Technical Analysis always excites me (which is literally opposite to the philosophy I preach). You can call out the contrarian in me and I will not have any issue with it. :D Anyway, this example is another classic 'W' in the making. Once the resistance line is broken, there should be no looking back in short term.
W and M patterns are classic patterns of a breakout or breakdown moves. In this case, W pattern gives a trader a better probability to profit over time if identified well in time. The stock in action here is HAL.
MCX:NATURALGAS1! I had posted yday about a bullish flag pattern in Natural Gas. See how beautifully it worked out, In this post, I have marked the targets as well. One can notice how easily money can be made if you wait patiently for the right set up to work itself out.
This kind of Flag pattern where after a sharp rally, price consolidates but the lower end of the range remains respected throughout the range while upper end keeps getting narrow representing the decreasing volatility in the price movement. Such formations are called Bullish Flag Pattern. This is currently in making and if price breaks out before the 2/3rd of the...
This is a conventional chart pattern - Head and Shoulder on the bearish side. This set up is most likely rewarding when completes. Here in the example I have taken Crude Oil (MCX) as an example. Profits are generally the height of the head from the neck line.