Cup and Handle in daily. Trendline Breakout is visible. Price reversed from fib 61.8. Above average volume spurt.
Can go for minimum 1:3 R:R.
❗️Not Trading Advice. Not SEBI Registered. For Study Purpose. Do your own analysis.
Multiple things to watch in this chart.
Confluence can be seen acting wonderfully.
Cup and Handle formation and breakout can be seen.
Increased volume built up on breakout is clearly visible.
Intraday setup looks like below.
Long above 265 can fetch 268/270/273 with a SL of 263.
All views for study purpose only.
National Aluminium is displaying a Rounding bottom reversal formation in 30 mins.
There is also a gap present just above the breakout level.
Increased volume builtup can be seen.
Intraday Long above 98.85 can fetch 102/103.50
Good positional bet too.
A beautiful falling channel in weekly has formed.
earlier there was an attempt to break the channel. It failed.
Tested the trendline again. Now it broke.
Probable breakout on verge.
On positional basis can be longed above 340 for the target of 370/400 with a SL of 325
Multi timeframe analysis.
First is Monthly chart. Long term down sloping trendline is breached.
Breakout Test Breakout done.
Second is weekly chart. Ascending triangle breakout can be seen with confluence. Also gradual increase in volume is there.
NOTE: Need to switch to weekly view for greater clarity on ascending triangle view
Indusindbank - Weekly channel.
Consolidation in rising channel,
with morning star reversal pattern
Intraday long above 1032 can give 1050/1075.
Positional long above 1032 can give 1100/1140
Its Daily chart of cummins india.
As can be seen a bigger falling channel breakout is followed by a formation of another falling channel.
Second falling channel breakout done.
Price has just closed above previous resistance of 908-910, with increased volume and strong candle spread.
This resistance area has been tested 5 times before. Price has managed to close...
A change of polarity can be seen here. Multiple attempts to breach the resistance as shown on chart.
Two Ways the trade can be initiated
1) Look for Pullback to 4500 level thencan be entered long OR
2) Long above 4650 can give 4705/4840
As can be seen from chart, its 4H chart of JSWSteel.
Firstly there was a breakout from falling channel. Then a test and reversal.
Now as it is going up, its forming a rising channel, can give a breakout too...
Intraday levels can be as follows..
Long above 725-727 can give 737/748/758