TAGaganDeep

TAGaganDeep

The chart pic above clearly shows a megaphone top formation on Bajaj Finance Daily Charts. The arrows marked explains the probable trend. One needs to trade as per the price action upon Breakout above the trendline within the pattern or breakdown below the pattern support.

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As evident in the chart, Visaka Industries has given an upside breakout to the cup & handle pattern on its weekly charts. The stock has the probability to give big up move. Up side levels being app 587, 666. Invalidated on Weekly close below 287.

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As evident in the pic, ITC is probably forming an Inverse Head & Shoulder pattern on its Hourly Charts. Break out is awaited. Once we witness a valid Breakout above the neckline, ITC will very likely move up by 15 - 18 points.

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As per the chart Amara Raja Batteries is currently at its Monthly Resistance. The stock has also formed at double top pattern on its daily charts. One should wait for proper price action and confirmation to enter into a trade.

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SRF is almost forming a Head & Shoulder pattern on its 15 mins chart. Sell upon break down below its neck line. Invalid abv 5532

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As per the chart above we can see that bank nifty is facing resistance and is also nearing its trend line support. A Breakout is awaited on either side to take a position. One should wait for it. For educational purpose only.

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As per the chart, SGX Nifty is showing a Head & Shoulder Pattern on its hourly charts. Breakout is awaited. Once a valid Breakout comes above the level of 13800, we may see SGX Nifty go to the levels of 14000 - 14100. As of now one can keep it on his radar, and wait for the breakout to enter into the trade.

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Reliance Industries has formed a Symmetrical Triangle on Daily Chart. Though its a continuation pattern, and the current short term trend is down in RIL it is expected to give a downside breakout to continue to trend. However, since anything may happen in the market, it's better to wait for Breakout on either side of the pattern.

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The US benchmark index Dow Jones has formed a Flag pattern along with a Rising Wedge pattern. With both the patterns happening at the same time one should stay neutral and wait for breakout above or below the wedge pattern, to get confirmation of the next move. Though the overall trend is still bullish but in the current scenario, its prudent to have...

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Coal India has given upside break out to a falling wedge on weekly charts. One can do buy and hold trade for a few months. The upside is likely to continue till 177, however the price levels of 153 - 156 may prove to be an obstacle. One should be cautious at that time.

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India's telecom giant Bharti Airtel has given a cup and handle breakout on daily charts. One can buy near 498. For the target near 550 - 560 and app 595. SL for shorter target stop loss can be below 480 , while for the longer target stop loss shall be below 457 Trade as per price action.

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The US benchmark index has given a rounding pattern breakout on hourly chart. Though the breakout was given just an hour before market close on 4th Dec 2020, but today's gap up has continued the upside. As per the bullish breakout of the pattern, dow jones can touch app 30850 - 31000. And as per the current chart scenario one can buy with a stop loss below...

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International Gold , XAU USD has formed an inverted head and shoulder pattern on the hourly charts. Break out awaited. Upon break out Gold can touch 1850 - 1870. Trade as per price action.

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The US index Dow Jones has formed a Cup & Handle pattern on hourly charts. Breakout is awaited. A valid upside breakout will lead to further upside but previous swing high may act as a supply zone.

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Hindustan Copper has given a Cup & Handle pattern Breakout on Weekly Charts. But its facing a near resistance app 43. Valid Breakout above the resistance can lead to good upside on the stock. Trade as per price action.

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Zydus wellness has currently formed a double top pattern on weekly charts. A valid breakout above the top will lead to further uptrend and one may witness levels of app 2300, 2600 , 3000 Trade as per price action.

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Tata Motors on a Daily Chart has given Symmetrical Triangle Breakout. However 155 - 160 can prove to be an obstacle in continuation of its upside. Valid Breakout above these levels will lead to further rise in prices.

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Bank Nifty on the daily charts has broken pitchfork resistance but pushed back by daily resistance. A Valid Breakout above the daily resistance will lead to further uptrend. Trade as per price action.