Key Highlights: 1. Bullish market structure - HH, HL 2. Volume expansion 3. Long period of downtrend & accumulation 4. Trendline breakout & retest done 5. Forming Inverse Head & Shoulders 6. Successful retest of the neckline 7. Support zone: 140-146 8. Target: 162, 183, 213, 241, 271. Stop Loss: 135 9. Time frame: 9-12 months You are always advised to use...
Cummins India seems to be in accumulation. The price formed a hammer on 200 moving averages and took liquidity from the previous support zone. The volume expansion was massive but the market structure is still Bearish. It's too early to say about the follow-up but it would be a good ambush entry if someone is willing to take the risk. Targets: 805, 865,...
The volume on the bearish candle was concerning but the Bulls absorbed all the supply and hence the next candle was a hammer. The price is in a range/accumulation phase. An ambush entry can be taken with the previous low as a stop loss. A safer entry can be taken after the break of the range on the upside. Targets: 547, 562, 578. You are always advised to use...
Key Highlights: 1. Bullish market structure - HH, HL 2. Volume expansion 3. Trendline breakout & retest done 4. Support zone: 140-150 5. Target: 204, 280, 400. Stop Loss: 140 6. Time frame: 9-12 months 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. Bullish market structure - HH, HL 2. Volume expansion 3. Coming out of the accumulation 4. Trendline breakout 5. Forming Inverse Head & Shoulders 6. Successful retest of the neckline 7. Support zone: 227-250 8. Target: 362, 580, 794. Stop Loss: 150 9. Time frame: 15-18 months You are always advised to use an appropriate Risk-Reward...
Key Highlights: 1. Bullish market structure - HH, HL 2. Volume expansion 3. Forming descending broadening wedge 4. Approaching major resistance zone 99-108 5. Close above 108 will trigger a rally to 150+ 7. Target: 123, 146, 174, 198. Stop Loss: 82 8. Time frame: 9-12 months I have made an illustration on the left-hand side, to explain the descending...
Key Highlights: 1. Bullish market structure - HH, HL 2. Volume expansion 3. Forming Inverse Head & Shoulders 4. Approaching major resistance zone 1537-1603 5. Close above 1600 will trigger a rally to 1800+ 7. Target: 1846, 2163, 2517. Stop Loss: 2185 8. Time frame: 12-15 months You are always advised to use an appropriate Risk-Reward ratio as per your...
Key Highlights: 1. Bullish market structure - HH, HL 2. Volume expansion 3. Coming out of the accumulation 4. Approaching major resistance zone 115-122 5. Positions can be added between 100-115 6. Close above 122 will trigger a rally to 160 7. Target: 155, 186, 228. Stop Loss: 85 8. Time frame: 15-18 months You are always advised to use an appropriate...
Key Highlights: 1. Bullish market structure - HH, HL 2. Volume expansion 3. Forming Ascending triangle 4. May pullback to the 183-186 zone 5. Target: 198, 213, 224 I have made an illustration on the left-hand side, to explain the ascending triangle pattern. You are always advised to use an appropriate Risk-Reward ratio as per your strategy. P.S: This is NOT...
In the last 2 threads, we have already covered the basics of divergence and learnt everything about bullish divergence. If you have missed those threads, please go through the first 2 threads before reading this one. Now let's start with our topic, Bearish divergence, which I'll cover in 3 parts: 1. What is bearish divergence? 2. Types of bearish divergence 3....
Highlights: 1. Break of trendline 2. Change in Market structure 3. Volume is expanding relative to the previous sessions P.S: This is NOT investment advice. This chart is meant for learning purposes only and is a part of my personal journal. Invest your capital at your own risk.
The price was in an uptrend before going into a correction. Currently, the price is moving in an ascending triangle which may break upwards to continue the uptrend. 200 MA has been continuously acting as a support. Buy above 1840 to be on a safer side Target: 1957 Here is the line chart to provide a better view:
Key Highlights: 1. Bullish market structure - HH, HL 2. Volume expansion 3. Forming Cup & Handle on Daily 4. Forming Inverse Head & Shoulders on Weekly 5. Approaching major resistance zone 155-160 6. Flipped the 145 zone into support 7. Close above 160 will trigger a rally to 180 8. Target: 170, 179, 188. Stop Loss: 144 I have made an illustration on the...
The price was forming a symmetrical triangle that broke upwards. But the price is getting rejected from the 1820-1830 zone. The 200 MA is also acting as strong resistance in the 1830 zone. Hence 1830 is a crucial level. If the price manages to sustain above 1830, then we can head towards 1900 and upwards. I have made an illustration on the left-hand side, to...
In the last thread, we discussed the basics of divergence. In this thread, we are going to learn about the positive divergence a.k.a Bullish divergence. I'll cover it in 3 parts: 1. What is bullish divergence? 2. Types of bullish divergence 3. Subtypes with illustrations So, let's move ahead! What is Bullish divergence? A bullish divergence occurs when prices...
Hello all, today we are going to learn about divergence. A simple topic, which often confuses the newbies. I'll keep this thread short since this will lay the groundwork for the upcoming threads. Please go through this thread before proceeding to the next threads. Foreward In this thread, I would explain the following as easily and briefly as possible: 1. What...
The stock was in accumulation for the last one month. It broke out of the range with good volume and formed a higher high. The market structure is now Bullish. The price broke out of 200MA and retested it successfully to turn it into support. A somewhat inverse head and shoulder pattern can also be seen. Targets: 158, 183, 219. You are always advised to use an...
Foreward In this thread, I would try with the best of my knowledge to explain the following questions as easily and briefly as possible. 1. What is a support level? 2. What is a resistance level? 3. What is their importance? 4. When and where to place Buy/Sell orders? Introduction Support and resistance levels are a critical part of trend analysis because...