Nifty is forming a cup and handle pattern ( a continuation pattern )
and a small cup and handle within the handle of the larger pattern
A break below 17570 can push it down toward the pattern target of 17300
Wait for an hourly candle close above 33800 post which a stop loss of 33300 (hourly close below 33800) could be maintained.
Pattern target comes out to be 34700-34800
Disclaimer. education post
MCX Gold Futures made a inverted head and shoulder pattern , the breakout of which can pish the gold prices higher towards 53600 levelz
SL can be maintained @ashish9552516501
WAIT for a daily close above the NECKLINE to confirm the breakout.
Disclaimer Educational view
Nifty Energy weekly chart shows that the index has formed a Cup and handle pattern and looking at the ratio chart of Nifty Energy viz. Nifty, in monthly TF one can see the ratio chart has given a fresh breakout and retest.
Nifty Energy index wee placed for a breakout and outperformance going forward
Ratio chart: NSE:CNXENERGY/NSE:NIFTY*100
Nifty Metal INDEX has broken out of a long consolidation phase(greater than 200 days of consolidation
6310 is the level if we get a daily close above this a new momentum can be started on the upside.
MACD(the momentum indicator) has also given a breakout.
Strong stock in this index should be on the radar
Cup and Handle pattern observed in weekly TF with a triangle pattern in the Rsi shows that sooner or later the price is about to breakout.
A close above 3900 would confirm the b/o.
Amber is a prominent solution provider for Air conditioners.
As the summer approaches the demand for A/Cs would rise and may boost the earnings of this company
Look at the Daily chart of BSE Ltd.
After reaching the top end of the trendline it generally corrects in the range of 20-30%.
It would be advisable for short term swing traders to have a string Trailing Stoploss
Demand zone 2400 for fresh longs
Disclaimer: Educational view
380-385 is an important zone.
If we get a daily close above 385, we can enter long with a stop loss of 360(previous swing low) and a target of 440-450
Disclaimer- Educational View
#Axis_Bank Weekly chart
Historically it is seen that after a neat term top axis bank share price corrects about 150-200 odd points.
In the weekly chart, we can see an EVENING STAR PATTERN (a bullish reversal pattern).
If the low 764 is broken we can see the prices fall towards 600(An opportunity for the long-term investors to accumulate).
Wave theory followers...
Long-Term Breakout of 70-71
A weekly close above 70-71 will give the confidence to enter at CMP,
A monthly close will boost the confidence to enter the 2nd tranche or at retest.
Volume chunks from the past few months.
SL 59 weekly close
50 EMA Support in TechM proved time and again as an imp support in its outrun.
Also, the previous b/o level of 1630-1640 will now act as support.
A short-term swing trade candidate.
Disclaimer : Educational View
Praj Industry has broken out of a consolidation zone and a cross above 408 will infuse fresh momentum towards 700 levels.
Recent swing Low can be used as stop-loss.
Disclaimer: Educational View