Past 5 months were sell on rise, not sell the breakdown.
The risk is timing. Price range of 17599 to 17770 is like a check post for Nifty. Stop, wait, move ahead or return back. It has been seen multiple times since Sep 21. Price Stops, waits here for new traders and then moves.
Hence, retesting is a way to participate in such aggressive moves.
It is in the supply zone of 17900 to 17950 forming a triple top pattern. Nifty is also forming a rising channel pattern which could mean that the majority is on the buy side. Hence a breakout would not lead to a big move because everyone will start booking profit. But a breakdown will create a panic as stop loss starts getting triggered. Last time on Jan 24 triple...
NMDC has formed a supply zone of 125 to 140 on a monthly chart. Forming a triple top pattern. Whenever price enters the zone it falls down. Hence it is at a crucial point technically. This does not mean that stock will fall now, it is all probability which increases when such patterns are formed.
Price went from 570 to 2600 in 18 months and is now consolidating in the range of 2100 to 2800 forming a flag pattern. It is also forming a trend as shown in the chart. Joining both of them makes a triangle. In summary, the price is at a breakout level.
It has been consolidating in the range of 1500-2000 for more than 5 years and has formed a head and shoulder pattern. It also has a demand zone of 1400-1440. Currently trading in this zone. It will be interesting to see what happens next. Hence it is the time to study business fundamentally.
It is a Heikin Ashi candle on the daily chart. This helps to find trends in volatile situations. Price is in the supply zone of Rs. 417-430, forming a triple top pattern. There is also an increase in volume which shows the beginning of a new trend. .
It is forming a flag pattern along with the head and shoulder pattern formation. Patterns work better on higher time frames. Hence these consolidations and patterns indicate that a new trend can start.
Doing cycle analysis. It moves in a 20 month cycle. But cycle analysis works best when done on a group of stocks and on multiple timeframes. Hence it is just an...
IT index has shown outperformance in the past few days. Following it LTTS is now bouncing from the support. Support is a 100 week old trendline on the weekly log chart. Will it sustain or fall that time will tell but now it is clearly following the IT index.
On a Weekly Log chart it has formed an Ascending Triangle Pattern. Today it Broke the support level of 345 after the results. Because it fell 7% in one day and broke the major level it might come up and retest 361. Hence it is time to analyse positions. Same happened with LAURUSLABS. Same can happen with GODREJPROP.
DXY broke the trendline in nov22. Now USDINR is also near the trendline. Is DXY projecting the future of USDINR. There is always some lag between the two. Overall it is an important time to analyse and make money.
Price is forming a triple top pattern with a top of 219-220. Looking at the option chain 220 CE of 25 Jan expiry, trading at Rs 1.75 has the highest open interest. Hence 222 is an important level. Overall it is in a crucial zone.
Price is rising since Apr 2020 with Increasing volume. After Nov 2021 Price is still increasing but volume started to decrease. Finally, the price is near a trendline. Hence it is important to analyse the stock now. Same thing happened with ABFRL.
On a Monthly log chart, it is near a 9 year old trendline. Looking at the chart it seems the price closes near the trendline every 3 years. Starting from 2014, 2017, 2020 and now 2023. Every time it has given a run up of 100-150%. But this does not guarantee. Hence as price keeps giving breakouts positions can be built.
LODHA rose from 430 in Apr 2021 to 1500 in Nov 2021. Made a top 1540 and formed a falling wedge pattern. From the top price fell 50% in 5 months. This is like the covid fall. Hence whoever regrets investing during that period, this is the same thing. But there is a fact that some stocks also go to zero when they start falling. Therefore it should not be the reason...
Price is forming a double top pattern with a supply zone of 2450-2700. Doing further analysis. It is a part of the Plastic Products sector. ASTRAL is also in the same sector. Astral is also near a breakdown point. ASTRAL and SUPREMEIND are the biggest companies in the sector. Hence there is something happening all over the sector. Therefore it does not mean that...
Stock got 178 times in the previous 10 years. It started from Rs 15 in Jan 2012, went till Rs 2650 in July 2022. It has formed a trend line in all this journey. Price is now near it and waiting for a breakout or a breakdown. Hence it is a crucial point technically. To know the next trend and extent of it one can study the stock technically and fundamentally.
It has taken 6 years of consolidation to form this triangle pattern. Price is also near its 18 year old upward trendline. It is also near the point of breakout or breakdown. Hence it is important to study the stock now.