Key Highlights: 1. The price has been moving in this parallel channel since 22 April and has been constantly creating Higher Highs & Higher Lows. 2. It has been trying to find the equilibrium between 15450-15900 levels. If you are a swing trader, you must wait for the price to break out or at least touch either side of this range. 3. Until and Unless the price...
Key Highlights: 1. Potential change in MS underway 2. Falling wedge pattern 3. Rejection from trendline atm 4. Approaching the demand zone 5. Ripe for the next impulsive move 6. Accumulate between 370-380 7. Target: 410, 445, 499 8. Stop loss: 364 You are always advised to use an appropriate Risk-Reward ratio as per your strategy. P.S: This is NOT...
Underlying logic: 1. The market already gave 11% in the impulsive move and created a high. Obviously, the momentum was fading out. 2. If you recall my lecture on market structure, you already know that after the creation of a high, we must come down to create a new higher low. The market cannot keep making new highs without creating a higher low. 3. There was...
Nifty seems to be moving in an ascending triangle. The resistance at 15900 has been tested 4 times. There is an unfilled gap between 15738-15764. We can see a drop to this level with some sort of liquidity hunt before moving higher. I see 15635 as an invalidation level. P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest...
Key Highlights: 1. Bullish market structure 2. Trendline breakout 3. Triangle breakout 4. Volume expansion 5. Accumulate till 215 6. Target: 233, 249, 265 7. Stop loss: 210 You are always advised to use an appropriate Risk-Reward ratio as per your strategy. P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your...
A lot of retailers may have gotten caught in this fake breakout in TCS. I provided that rough path (which I anticipated it would follow) in my original idea because I believed the conditions were not right for a breakout at the moment. The majority of the time, we cannot avoid getting trapped in fake breakouts. But in the recent case of TCS, the fakeout could have...
Key Highlights: 1. Bullish market structure 2. Cup & Handle pattern 3. Lacks volume at the moment 4. Resistance at 357 5. Accumulate on pullbacks 6. Target: 375, 394, 416, 435 7. Aggressive SL: 337, Safer SL: 325 You are always advised to use an appropriate Risk-Reward ratio as per your strategy. P.S: This is NOT investment advice. This chart is meant for...
Key Highlights: 1. Potential change in MS underway 2. Descending broadening wedge pattern 3. Trendline breakout 4. Consolidating in parallel channel 5. Ripe for the next impulsive move 6. Target: 1561, 1635 7. Stop loss: 1455 You are always advised to use an appropriate Risk-Reward ratio as per your strategy. P.S: This is NOT investment advice. This chart is...
The price breached the downtrend line with high volume and rallied to change the market structure. This strong momentum increased the RSI to the 70-ish level. The price may now consolidate a bit to cool off the RSI, before giving the next leg upwards. This seems like a good time to accumulate. The market structure is clearly bullish and all the dips must be seen...
ONGC is breaking out of the Inverse Head & Shoulders pattern it was forming since February. The price has broken out from the neckline and there is an expansion in the volume. I have made an illustration on the left-hand side, to explain the pattern. Targets: 128, 137, 140, 146. You are always advised to use an appropriate Risk-Reward ratio as per your...
Key Highlights: 1. Bullish market structure - HH, HL 2. Massive volume expansion 3. Moving in a Pennant. Completing the Bull flag. 4. Currently at a major resistance zone 5. Close above 720 will trigger a good rally 6. Target: 791, 870. Stop Loss: 640 I have made an illustration on the left-hand side, to explain the bull flag/flag & pole pattern. You are...
Key Highlights: 1. Bullish market structure 2. Volume expansion 3. Trendline breakout 4. Buy/add on pullback 5. Support zone: 1437-1460 6. Target: 1553, 1624, 1718 7. Stop loss: 1420 You are always advised to use an appropriate Risk-Reward ratio as per your strategy. P.S: This is NOT investment advice. This chart is meant for learning purposes only....
Key Highlights: 1. Bullish market structure 2. Volume expansion 3. Trendline breakout 4. Symmetrical triangle pattern 5. Ascending triangle pattern 6. Buy on pullback only 7. Support zone: 512-521 8. Target: 566, 602, 638. 9. Stop loss: 493 You are always advised to use an appropriate Risk-Reward ratio as per your strategy. P.S: This is NOT investment...
Key Highlights: 1. Bullish market structure 2. Trendline breakout 3. Price moving in a channel 4. Major resistance: 735 5. Support zone: 675-695 6. Target: 757, 797, 833 7. Stop loss: 690 You are always advised to use an appropriate Risk-Reward ratio as per your strategy. P.S: This is NOT investment advice. This chart is meant for learning purposes only....
Key Highlights: 1. Seems to be in re-accumulation 2. Moving in parallel channel 3. Constant manipulation of the lows 4. Swing failure pattern 5. Medium bullish divergence 6. Target: 2616, 2714, 2871 You are always advised to use an appropriate Risk-Reward ratio as per your strategy. P.S: This is NOT investment advice. This chart is meant for learning...
Key Highlights: 1. Bullish market structure 2. Volume expansion 3. Coming out of consolidation 4. Trendline breakout 5. Ripe for next impulsive move 6. Buy only on pullback b/w 1825-1850 7. Target: 1987, 2110, 2176 You are always advised to use an appropriate Risk-Reward ratio as per your strategy. P.S: This is NOT investment advice. This chart is meant for...
What is a Cup and Handle pattern? • The pattern resembles a cup with a handle, where the cup is in the shape of a "u" and the handle has a slight downward drift. • This drop, or “handle” is meant to signal a buying opportunity. When this part of the price formation is over, the stock may reverse the course and reach new highs. • It is a bullish continuation...
What is a Rounding Top? • A rounding top is a chart pattern that graphically forms the shape of an "Inverted U". • Rounding Tops are found at the end of an uptrend trend and signify a reversal • It is also referred to as an inverted saucer. • Ideally, volume and price will move in tandem. Parts of a Rounding Top: A rounding Top chart can be divided into...