Stock consolidating nearing Jan 2008 highs, the stock has rallied form 30-40 levels to 150 on high volumes. currently the volumes have dried as the upmove has paused after giving a good rally, Natural reaction of the stock after upmove. Once the stock breaks out of the 14 year old high, can give bumper move. Any dips upto 115-120 levels can be used to accumulate...
Range breakouts can be on either side.
But it is possible to predict the side , Observations below.
1. Highs & lows: The price made a lower high compared to previous highs, as marked.
2. Few days up move is nullified by lesser days down move, marked by Red circles.
3. Indecisive bars followed up by big directional bar, yesterday's bar
4. Previous trend to the...
Ascending triangle & Bearish Flag pattern Breakdown.
Signalling weakness to continue.
Given the Length of Pole & continuous correction past few months, the next downward move can extend to 140-110 zone.
This can be the last leg of selling hence expecting a fierce move downwards.
Expecting a sharp downside.
Narrow range breakdown.
Size of bars increasing along with increasing volumes : start of expansion phase
Stock has started downward expansion.
Clear double top visible on weekly.
Stock has formed a cup and handle on weekly time frame.
Last Week volume action visible after 3 months.
Stock holding 20 SMA for last 5 months.
Stock near to life highs.
SL 1600-1620 are that comes around 7%
Ideally SL should be around 1560 area but that comes around 10%, which comes beyond by risk criteria.
BPCL has formed a inverse head & shoulder pattern.
Volumes dried and picked up, as the volumes picked up price didn't move much lower indicating demand.
Today price moved up on high volumes crossing highs last 4 sessions.
This increases chance of a good breakout in coming days.
On other timeframes.
Weekly : Master/Mother candle
on 30 min...
Stock was formed a base in 1280-1380.
Volumes increased when stock moved fro 1480 to 1280-1380. Clear sign of accumulation.
Stock made lower low formation till 1250, then stated making higher high which is evident by strong breakout with volumes from the base built today.
The base formation has taken place near Listing day low of 1280
stock has taken support for...
The stock has been a stellar performer for over a year. Many avoid the stock as it has moved over a 100% in a year.
However the overall structure is to studied upon.
1.First rally 130-140 to 225 levels
This rally stated after breakout of 15 year consolidation, usually whenever stocks breakout of the longer consolidation perform superbly.
( check the link in...
Small Ascending triangle visible.
Last 7 bars have formed a congestion zone.
This is the first pause after the stock recovered 48% from recent lows.
Sideways move is for 2 months.
Ascending triangle being a trend continuation pattern, chances of breakout are high.
Another confirmation is stock is holding 20 SMA ( 1198 )
SL around 1165-1175 zone 5% form CMP
HAL continuously making new highs & in strong uptrend.
The stock has taken a pause & has formed a base/ascending triangle.
Perfect breakout trade candidate.
Accumulate decline till 2250, that would be the SL.
Once the stock breaks out of the base Move SL jsut few Rs below breakout Bar.
The breakout in volume with volume fizzled out after as evident by upper wick.
The stock went sideways and volumes dried up.
The stock stated to move up over the recent days on good volumes & made a new high today with good volumes.
The stock is in continuous uptrend.
target : open, keep trailin SL as the stock is upmove.
Stock moving out of the base. The range of the base is mere 5 % , daily volumes were more than average daily volumes of the past month.
The moving averages SMA of 200,100,50 & 20 are near to each other, which shows this can turnout to be strong base. An entry point near to all SMA reduces the probability of breaking the base. I've attached link of the chart ...
SBIN moved one-way from 440 to 540, resting only once around 500
Now SBI is currently standing at resistance levels, after oneside move, a breakout trade on long side after such rally has the least probability of success.
Now as seen SBI clocked high volumes of the 440 to 540 leg at the highest level around 540, this shows supply is coming.
Even if SBI breaks out...
All major observations on chart.
stock consolidating since May 21, Now the price is moving down slowing with high volumes failing to make new highs. Price consistently below 20 SMA during the increased volume movement. This shows a strong supply coming, particularly from may 22 onwards there is rise in volumes. 2 high volume up-moves of 5%+ as marked lacked...
Those 2 green bars were of 6 & 8% resp. With no follow through. Price is sideways with major pick in volume, shows strong supply is incoming n those 2 green bars were created to lure Public. There can be a pullback, but it wont sustain. Increasing of volatility is a sign of big move, since 5%+ moves have become normal since mid May 2022. Even a 6% move on 16 May...
Long consolidation of 14 years breakout.
Volumes started to pick up.
Perfect VCP breakout (marked on chart)
Made a new high on weekly charts with week on week increasing volumes. Signs of institutional buying.
SL 2120, Its wide but worth taking the risk looking at the reward.
accumulate on every dips until SL holds.