devdhodi

devdhodi

This trading idea is for 8-6-23. nifty bank is in a picture perfect condition and is ready for a breakout. An ascending triangle pattern is clearly visible and a breakout seems evident. TP 1 - 44496 TP 2 - 44953.80 TP 2 can only be achieved if breakout is very strong. Some profit booking at TP 1 can be expected too.

devdhodi

This is swing trade for a bullish breakout which can be observed in ujjivan small finance bank. An inverted head and shoulders pattern can be easily spotted on the chart which appears very clean. ENTRY- 28.15 TARGET 1- 30.60 TARGET 2- 33.35 TARGET 3- 34.70 All these targets are listed by keeping in mind the price action of this stock and the strength behind the...

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The wind for Indian markets as of now have become uncertain , just like the state of the world economy. From large fund managers to small retail investors are addled, and the only question out there is 'Where will the market move?'. Now's the time when tons of quarterly results are laid in front of investors from all the listed companies there are. Thus, the...

devdhodi Updated 

This 1-hour chart of Zomato shows a symmetrical triangle, which favors the bullish side. In my opinion the price will be constrained in the triangle for some time to come. The better it takes time to complete the triangle, the better will be the breakout. Once it breaks out from this pattern it could go up to 59.35 or 7.11% of up move, but before reaching that...

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Today's market was a roller coaster as indices move up and down widely due to the budget of 2023. But in the late market hours, stocks started to tumble and posted red candles. This one stock had caught my eye for quite sometime and I was waiting for this day to see its price movements. As you can see a clear head and shoulders pattern emerged. After breaking the...

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In today's session Manappuram Finance showed some wild swings. CMP corrected almost 4.33% in first 15 min of today's opening. But its price chart is quite interesting if you look carefully. The first candle in 15 min timeframe showed stock corrected almost 4%, but in the same candle a bearish shadow can be observed somewhat equivalent to the length of the body...

devdhodi

US market today is very bearish for certain economical and geo-political reasons. Tomorrow Indian markets will copy and will move downwards. This stock which was previously in a descending triangle pattern has shown a breakout downwards with high volumes, at the ending of today's market session. Resistance level which is marked is historically tested around 4-5...

devdhodi

Nifty today ends around 0.65% higher, which is a good signal for placing bullish trades in these tumultuous times. One such bullish opportunity can be observed in Alpa laboratories. The stock is currently at around its support zone. According to my Fibonacci retracement analysis (which is not shown in charts) when this stock retraced from its high of 67.65 levels...