Saket_Ojha

Saket_Ojha

A parallel channel which can also be termed as a price channel is a tool to identify a share’s price in bounded parallel lines. It can be horizontal, ascending or descending. It’s a great tool for those traders who believe or trades with the idea of Price action. A parallel channel can be formed when the price of a security is restricted by supply and...

Saket_Ojha

The chart is clearly indicating a Breakout of Both Parallel Channel and Resistance at the same time which is a clear sign of bullishness. Target can be achieved at 1850 levels. The only problem is with the Volume, which is still not very much satisfying, but everything looks positive for short-term trading like the swing.

Saket_Ojha

Chart clearly shows that a clean Breakout is bound to happen in the coming days with Resistance got tested several times and has got weaken in the same process. Volume too supporting the trend. RSI is at 62 levels so there is a good chance that this breakout will gonna give a good profit opportunity.

Saket_Ojha

Auto stocks are bound to show some pullback which a parallel channel is showing flawlessly. If the channel gets a breakout with good volumes then it can create an all-time high. Do wait for some time for the volume to get a bit more aggressive.

Saket_Ojha

This hourly chart is clearly depicting the sentiments of the Broader Market Nifty Pharma. The Broader market is clearly on the verge of another breakout helping Lupin to gain that thrust. The support at the bottom is holding the stock whereas the volume is clearly helping the stock to rise further. It will be a great trade for short-term traders to ride till that...

Saket_Ojha

Before the daily breakout, Monthly breakout has already happened at 7300 levels. Now with cup formation, a daily breakout has also happened which will help it to breach 8000 levels. Recommended for positional trade with a risk managing Stop Loss.

Saket_Ojha

1-hour Breakout clearly shows an uptrend with volume supporting it. 1320 is an immediate resistance that will act as 1st target.

Saket_Ojha

With the help of parallel channel and flag pattern, Nifty Energy is clearly showing downfall which will lead to shares likes Reliance Industries, ONGC, HPCL, Gail etc will also show weakness in the coming days. Traders can look for some shorting opportunities in these shares. This analysis is also supported by the ongoing news of diverting oxygen from industries...

Saket_Ojha

On the daily technical chart, the stock is rocking in the Performance area. It is suitable for very short term trades as it doesn't have healthy fundamentals so not recommended for long term investment or Positional Trading.

Saket_Ojha

JSW Energy shows strong momentum in the weekly chart as parallel lines are supporting it to be a strong indicator of being in an uptrend. Volume is also supporting the clear breakout of an all-time high. In the coming days or week, we could expect the price to rise above 100 and could touch 110.

Saket_Ojha

Banknifty shows a clear trend of downfall in the coming week as Trendline got broke and indices might fall to 30,000 levels as it will act as the new support.