TradingSutra

TradingSutra

Stock is trading in the downward sloping channel and breached the support level of 2350. Stock is likely to continue its prior trend towards 2200 , hence, on any recovery stock should be short sell keeping SL of 2400 and look for the target zone of 2200 and 2100 in the coming weeks.

TradingSutra

The symmetrical triangle, which can also be referred to as a coil, usually forms during a trend as a continuation pattern. The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended and the symmetrical triangle takes shape. Trend: In order to qualify as a continuation pattern, an...

TradingSutra

Usually this wave structure forms in an impulsive sequence as wave 4 OR Wave-B of a corrective wave . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes...

TradingSutra

Stock has given a breakout of the neckline near 490 of a H&S continuation pattern. The measured target of this pattern is coming about to be in the region of 380-375. Sell Near 450 and keeping SL of 480 look for the target of 380-75.

TradingSutra

After giving a multiyear breakout stock is rising in an impulsive manner and broken the parallel channel which suggests that a third wave is in progress. The Stock is forming higher highs and higher lows in all the time frame which is the basic definition of an UPTREND. The previous resistance zone of 200-215 shall act as a support in the coming months and stock...

TradingSutra

Stock has given a breakout after a consolidation into a parallel channel. Stock is likely to move up towards the 310-315 zone in the coming weeks. Buy with SL of 275 and look for the tgt of 310-15.

TradingSutra

After the formation of ending diagonal stock has given an upside impulsive rally and undergone into a corrective phase. The recent price action suggests that corrective phase has been over and stock is ready for another leg of impulse on the upside. One should buy the stock in the current levels or on dips near 730 zone , keeping SL of 660 look for the tgt of...

TradingSutra Updated 

The symmetrical triangle, which can also be referred to as a coil, usually forms during a trend as a continuation pattern. The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended and the symmetrical triangle takes shape. Trend: In order to qualify as a continuation pattern, an...

TradingSutra

Indicator Analysis: Prices were trading in an uptrend making higher highs and higher lows posting a high of INR 936.65 on 15'Sep'22 and subsequently retreated back on the same day forming a Hammer Candlestick pattern. Post that prices witnessed a selling pressure and broken the rising trend line established from Jun'22 low of INR 699.95 and currently trading...

TradingSutra

Stock has witnessed selling pressure from the previous swing resistance on the daily chart and formed a Bearish reversal candlestick pattern which is know as Three Black Crows. Prices have also broken the rising trend line established from Jun'22 low of INR 618.25 which suggest that prices may face more weakness in the coming days.Hence any retracement from the...

TradingSutra Updated 

This is also a converging triangle formed with one flat horizontal line on the top & an inclined line meeting at a common point as illustrated in the chart. The flat horizontal line act as a resistance for the prices & the on the inclined line the prices take support. It’s not necessary that the ascending triangle formation takes place only in the bull market,...

TradingSutra

THEORY: This pattern forms after an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder. The left shoulder is formed after a big bull rally in which the volumes are quite large. At the end of the left shoulder, a minor correction takes place on the downside which happens on the low volumes comparatively the starting of the left...

TradingSutra

Stock has formed a reversal candlestick pattern which is known as Evening Star on weekly time frame. Also there is a horizontal resistance which suggests that the trend developed from the bottom of 1274 is exhausted and stock is ready to turn from the current level. In the Evening Star Candlestick Pattern, the first candle closes bullish and the second candle...

TradingSutra

Historically it has been seen that Nifty goes into a corrective phase in the month of Sept-Oct. In the charts I have marked a consistent corrective phase of Nifty during the period of Sept-Oct in past 10 years.

TradingSutra

Trading Strategy : Stock has given a breakout of the formation of cup and handle . One should buy the stock near the current level i.e. 912 and keeping a stop loss of 856 , look for the target of 1050-1115 which is the measured target zone.. Buy: 912 Stop loss : 856 Targets: Tgt 1: 1050 Tgt 2: 1115 Theory: The Cup with Handle is a bullish continuation pattern...

TradingSutra

After a five wave rally stock is correcting in a three wave fashion. The five wave rally can be considered as a wave-1 of higher degree and the subsequent fall should be taken as wave-2. Hence,stock is likely to correct towards 100/97 area which is also a 50%-61.8% fibonacci retracement zone, which suits better retracement for wave-2. Trading strategy: Sell 103...

TradingSutra Updated 

Theory: DIAGONAL: Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory of...

TradingSutra

Theory: DIAGONAL: Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory of...