surya89trade

The BANKNIFTY index seems to be finding support by bouncing from the hourly trend-line. It's good to try a long trade with stop being a hourly close below the trend-line.

ICICI Bank is forming a possible bull flag continuation pattern on a 15 min time frame. The stock has given a strong breakout in daily charts forming a good case for the bullish bias. The bull flag if confirmed will lead to an upside target of about 398. Note- Level of 400 can be a tough round number resistance to break.

Explained in charts. Time frame is 15 mins , which is generally less relaible. Expiry day might create some volatility.

Explained in charts ... stop below 1200 on a hourly closing basis.

Explained in charts. Stop above head level on closing hourly basis.

There is a breakout of bullish head & Shoulders on hourly basis. Stop should be below the head for a target of about 260.

Explained in charts. A hourly close below Neckline required for pattern to be valid. Stop loss should be above head level of 10780 on a hourly closing basis. Interestingly the short term bottom at 10200 , opens a possibility of bullish Head & Shoulders.

The Stock is in a long term downtrend. The pullback rally ended at 200 (Round Number), which is expected to act as key resistance in near term.

Corporate facing banks have been on a strong uptrend in recent days. The Short is against market consensus, so trade cautious using smaller quantity. Pattern valid only if price breaks below neckline on a hourly clb , with stop placed above 362 on a hourly clb.

Explained in Charts. A neckline break will make the pattern valid.

Explained in Charts

Explained in charts ...

A break and close below the neckline opens up target towards 11100 levels ....

A break and close above neckline would confirm the pattern. The target for the same will be 298 and stop will be below 240 on a closing basis.

A break and close above the neckline will result in a Inverted H&S target of 2765 with a stop below 2600.

Explained in Charts . A hourly close above neckline is a must.

Explained in charts

RELIANCE has given breakout and weekly close above 1000 levels. This opens up potential upside target of about 1450 in coming weeks. A close below 960 on weekly basis can be used as stop.