srinivasbusy

srinivasbusy

Index recently bounced from a 10 month old trend line followed by a gap up that has sustained for 3 days which shows strength , with the current momentum if continued and decisive break of 24,500 zone the momentum could further make a move to the zone highlighted in the chart .

srinivasbusy Updated 

Momentum: Rounding bottom formation: The stock had a significant decline followed by a gradual recovery, forming the "rounding bottom part of the pattern. This indicates a shift from a downtrend to an uptrend with increasing buying interest. Handle Formation: After reaching the resistance level (which is around ₹1,500 in this chart), the stock...

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Here is my plan for this counter Trend: Stock is in an uptrend within an upward channel. Pattern: Rounding Bottom: Formed within the upward channel. Triangle: A consolidation triangle on the right side, suggesting a potential breakout. Price Action: Near the apex of the triangle; potential for a breakout. Momentum: Bullish momentum as the price is...

srinivasbusy

Trade setup and detailing 1. **Price Channel**: The stock has been trading within a well-defined upward sloping channel and has consistently respected the lower and middle boundaries of this channel, indicating a strong trend. 2. **Support Levels**: The stock is currently closer to the middle or lower portion of the channel, which could act as a support zone...

srinivasbusy

Tried my best to make it crisp , give it a read ! ### Buy Strategy: - **Entry Point**: A breakout above the upper trendline of the symmetrical triangle, confirmed by a daily close above this level, would trigger a buy signal. The entry would ideally be around ₹310 (or slightly above the breakout level). - **Target 1**: The initial target is set at ₹325, which...

srinivasbusy

Momentum: Price Action: The stock is showing signs of bullish momentum as it attempts to break out of a recent consolidation range (marked by the horizontal resistance line around ₹1,177). The breakout appears to be taking place with some strength, which is a positive signal. Target Area : The chart highlights a potential target zone above the breakout point,...

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Counter in an uptrend on a daily timeframe , in a range for almost a year and given a breakout within the range with a pattern , looks good to me until the range top with cautious around the below of the breakout candle recently .

srinivasbusy Updated 

Stock has given a breakout with a good recent market participation . A positive pattern and a divergence supplementing and bullish view . Keep it on the radar for an up-move

srinivasbusy

Stock looks good for an up-move at the break of trendline , a positive pattern and break of trend line should trigger good buying .

srinivasbusy Updated 

Stock is currently trading at a crucial level , expecting a move up considering the momentum and cashflow observed in the recent past . Though a good 6% target on the cards but trade with caution around the most recent swing high .

srinivasbusy Updated 

Stock has given a breakout at the start of the year 2024 and has since then maintained the swing thus showing strength , the break of the plotted level could trigger a trend continuation . Good cash flow noticed .

srinivasbusy

Stock has given a breakout at the star of the year and pulled back and re-tested the 0.618 levels maintinaing the swing and trend , I see good strength in both momentum and cash flows on this counter on the upside with a good risk to reward ratio . The breakout of the triangle shoudl trigger a good short term move . Level plots on the chart . Cheers ~

srinivasbusy Updated 

The bank index has been moving inside an upward channel from over a year respecting the channel tops and bottoms twice each with good patterns and structures. The index pulled back around 4000 points in the month of January 2024 and since then has been steadily moving up forming a good HH (higher high) and HL (higher low) sequence. The channel top touch at the...

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Stock has rallied good in the recent month and started making zigzag zone and at the same time struggled to make a higher high indicating signs of weakness , the rising wedge and a rounding bottom within it supplementing the weakness bias . Momentum indicators signalling diversion and not much market participation ( possible signs of distribution...

srinivasbusy

Shorting a stock in an up-trend is usually something I don't recommend, however there is no thumb rule that’s out there in the stock market. I firmly believe that stocks exhibit the same moves they did in the past and the technicals sync-up. Today the overall sentiment of the broader market was neutral-bearish and despite the stock being in an uptrend shorting...

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Stock has consolidated good and started making higher high , trend continuation expected if the level are maintained . A classic round bottom in formation , immediate short term trade trigger could be the break of triangle for a good bump .

srinivasbusy Updated 

Index is currently in a no trade zone and i'd recommend traders refrain from trading any related instruments to avoid getting chopped out . Plots available on the chart how the earlier zone was traded for referrence . Trade wisely !

srinivasbusy Updated 

Stock ready to slip into supply zone with a break down of the triangle pattern . Plot on chart for reference ~