Trade Analysis : 1. Price : Breakout 2. Pattern : Flag & Pole (D/) Cup & Handle (M) 3. Volume : Good 4. Momentum : D-RSI over 60 5. Volatility : Bollinger Band squeeze open 6. Trend : upwards, price above 20 SMA 7. Trend strength : ADX 43, DI+ rising 8. Time analysis : Moon phase : waxing Trade setup : Entry : 43 StopLoss : 41.50 Target : 57 RR : 1:9
Technical Analysis : Pattern : Evening star on top Momentum : RSI Divergence
It's usually difficult to find Inverted H&S and it takes a lot of practice to arrive at certain chart patterns. Here's an inverted Head and Shoulder pattern in Idea and it broke out today. Target is huge and Idea was anyway oversold. Leave in comments what you think ?
On weekly chart : 1. RSI crossed 60 today 2. Price took support from Trend line 3. Oversold stock 4. Positional Trade
Nifty showing flag and pole chart pattern with target of 17600