tksthathachari

tksthathachari

In the above chart, I have presented the NIFTY IT INDEX daily chart. We can clearly observe a bull run beginning from 28000 levels up to 37900 levels. After touching the highs of 37900, the Nifty IT Index has been consolidating in a channel which has a 10% range as indicated. The overall structure is of a Pole and Flag. Any breakout above 37900 levels can lead to...

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The above chart is that of a daily time frame of Berger Paints Stock. The stock has a long term resistance at 840-850 levels and a long term support at 680-700 with a short term support/ resistance at 770-780 levels. Recently the stock has broken the short term support zone of 770-780 with a big bearish red candle showing huge resistance. This was trigerred by a...

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This is the monthly chart of BATA India. In this we can see that there was a bull run from December 2016 to March 2020. It came down slowly to form a falling wedge pattern and also a double bottom pattern from Mar 2020 to June 2021. It gave a good breakout of the falling wedge or flag pattern in July 2021 and the momentum continued. Here we have not used any...

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In case of AFFLE India, in the daily chart frame, we can observe the price made a lower low before finally making an upmove from 3800 to 4350. However the RSI made high lows which is the complete opposite of the price movement. This indicated that the buyer strength was increasing even with the drop in price. How should one trade? One should go long with a SL...

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Simple Price Action Analysis: The present chart is a Monthly chart of Amaraja Batteries The stock was in a bull run for 2 years from Sep 2013 to Aug 2015. From Sep 2015 to Aug 2020, the stock was in a consolidation phase. It gave a breakout in Nov 2020. Now it is coming to retest the breakout levels at around Rs 700 price levels. The whole structure is that of a...

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RSI Divergence refers to the deviation of RSI with respect to price. Even though the price may be going in a set direction (say making lower lows), the RSI could go in a completely different direction (higher lows). RSI is a clearcut indicator of buyer strength or buyer accumulation at a specific given time and price. An RSI Divergence generally is strongly...

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Indicator Free Analysis with Fibonacci Ratio Integration: The above is a daily chart of Alkyl Amine, a quality monopoly stock with clear cut competitive edge in its respective industry. We can observe that a previous resistance was present at 4000 levels which was broken with big bullish harami green candles accompanied with volume. A basic rule of chart analysis...

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The above chart is that of daily timeframe of DJI. We can see that the index has been following a long term support trendline from which it has taken support 5 times. This shows that the support may be weak now and it will be easier for sellers to break the support if the index moves any closer to the support. In addition, we can see that the RSI is flat to...

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The above chart is that of a Weekly Timeframe. Here we can see that a Rounding Bottom is formed at the top of Reliance when it is trading at all time high. Why a Rounding Bottom is formed? A rounding bottom marks a struggle between buying demand and selling pressure that is almost equal. In the first part of the formation, the sellers overpower the buyers...

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The above chart is the daily chart of Bharat Electronics . Here we can observe that the stock has formed a Cup and Handle Pattern. Now I shall elaborate in detail on how to trade the Cup and Handle Pattern with appropriate Trading strategy and Psychology. In the above chart, we can observe a stiff resistance at 160 levels for the stock. Hence it needs to be...

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The above chart is of Weekly Timeframe. We can observe that there was a huge long term resistance at 660 levels which the stock broke in the month of November 2020. After the breakout, the stock has been consolidating at this previous resistance for the past 9 months. It is consolidating in a zone of 660-730 thus forming a Darvas Box. Why trade this stock? 1....

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In this weekly time frame analysis, we can observe that Asian Paints is consolidating at the previous breakout zone in the form of a rectangle or a Darvas box. A strong RSI of 69 along with bullish harami candle in the weekly time frame shows strength of upcoming bullish momentum. A pure 10% upside is pending Prediction: Buy at CMP SL at 2920 Target - 3400

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The chart is of daily timeframe. We can observe that the stock has taken support from the support trendline for more than a year on multiple occassions (more than 5). Thus this support can be considered as a strong one. However a support zone or trendline which has been tested multiple times tends to break. So what should a trader do here? It is best to wait for...

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This is the monthly chart. Recently Biocon broke the support levels of 360-365 and this resulted in a major 10% fall upto 330 levels. For long term investors, the question that arises here is - Where is the next buying zone? From which price levels the stock will show a bounce back? Here we will learn the use of EMA or Exponential Moving Average. Every stock...

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Simple Price Action Analysis without Indicators: This is a weekly chart. We can observe a long term demand zone spanning over several years at the levels of 210-220. This is a strong demand zone. In addition, we can observe a falling Resistance Trendline. The buy and sell levels along with SL has been given in the chart. Very safe trade. A RR ratio of -...

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Simple Price Action Analysis: The level of 170-180 has been a strong supply and demand zone in the history of this stock. In the early years, this zone acted as heavy resistance zone. However after giving a successful breakout in 2nd half of 2017, this resistance zone was converted into support zone. This support zone was broken during previous year due to COVID...

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The stock at present is in middle of the formation of a long term flag and pole chart pattern. The long term resistance line was broken and acted as support for the past 6 months. Now at present a triangular flag is forming whose lower support trendline was broken on daily chart. However another horizontal support at around Rs 84 is acting as a good demand zone....