Watch out this daily symmetrical triangle formed in #GUJGASLTD Symmetrical triangles are usually neutral triangles. The direction in which breakout happens gives the future direction for the instrument. So if price breaks the upper line of triangle, we can look to buy/long. If price breaks the lower line of triangle, we can look to short/exit any existing positions.
NMDC Stock is trading in downtrend making lower highs and lower lows. The price reached 104 support area and bounced but got rejected by Daily 200MA near 110. As of now , I expect price to trade in between a range of 104-110. If daily closes above 110, we can look to buy. If daily closes below 104, exit your position. We can also trade the short term range of...
The stock is trading in between a descending triangle like formation. Expecting price to drop till 470. As of now, I don't find any opportunity and will look to initiate buys only at 470 support area. In case if you are holding the stock, you may keep holding till 470. If weekly closes below 470, it would be better to exit the stock.
I am bullish on banking sector. FEDERAL BANK looks interesting. The price reached the daily support area around 125 and firstly, gave a BEAR TRAP and then formed MORNING STAR CANDLESTICK PATTERN. Both of these are bullish signals. Expecting price to rise till: 1. 131 2.136 3.140 Stop loss can be below 124. Let me know in comments section if you want me to...
I am bullish on banking sector. IndusInd bank looks interesting. The price closed above 1270 and sustained there for few days, which signals that the breakout is strong and valid. I expect the price to continue to ho higher till 1. 1350 2. 1600 3. 1800 Stop loss can be daily close below 1240. Let me know in comments section if you want me to analyse any other...
Today on 29 May 2023, Bank Nifty broke its 2 week range and created a new All-Time high. Until and unless, Bank Nifty does not closes back below 44140, bullish view on Bank Nifty remains intact and we can expect price to continue to go high. Since, the bullish breakout happened after 2 weeks of consolidation near ATH, the breakout can be considered...
REC LTD is trading in an uptrend with consistent Higher Highs and Higher Lows. From past few days, price was falling and retraced till 128-127, which in past was a resistance area. As of now the price is retesting the resistance area as new support, and I expect a bounce from here as trend is UPTREND. On Daily Timeframe, we can spot a Morning Star Candlestick...
Ambuja Cements was consolidating in an ascending triangle pattern which is typically a bullish pattern. The price broke out the ascending triangle and closed above the neckline on 22 May 2013. It is expected that price may continue to move high. Aggressive traders can enter at current market levels near 425, but the better entry point would be the retest of the...
The stock has given a bullish breakout. Reality sector looks strong so further upside in Phoenix Mills is expected. Entry can be made at current market price Stop loss- below 1434 Target- Near 1550 Let me know in the comments section if you want me to analyse any other financial instrument. WARNING:- ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE...
Tube Investments of India Ltd, the Cycle sector stock has given a bullish breakout from the symmetrical triangle and has also retested it which confirms the bullish breakout. Entry can be taken at current market price. Stop loss- 2673 Targets 1. 2830 2. 3020 Let me know in the comments section if you want me to analyse any other financial instrument....
The price has recently broken and closed above the resistance level of 2480. Reliance was trading in a downtrend, but this breakout marks the FIrst HIGHER HIGH, the beginning of a new uptrend. NIFTY is also trading above its resistance level, which gives more confidence that Reliance may go up in coming days, as Reliance has heavy weightage in NIFTY INDEX. Long...
Cardano cryptocurrency or ADA Coin had formed and broken down the Head and Shoulder Pattern on Daily TimeFrame. The pattern is a bearish pattern and hence I believe price will drop. Targets 1- 0.35 2- 0.30-0.31 Let me know in the comments section if you want me to analyse any other financial instrument. WARNING:- ALWAYS FOLLOW RISK MANAGEMENT AND POSITION...
Arbitrum cryptocurrency or the ARB coin was trading in a range from past few weeks. The price has recently broken down the support and currently going up for a retest. I expect a bearish continuation. A short can be initiated. Entry- 1.14 Stop loss- 1.25. But if a daily closes back above the broken support turned resistance, exit the trade. No need to wait...
The Price has closed below the daily support on 8 May and has also retested the broken. support as new resistance. A Short can be initiated at Current market price. This is a SWING TRADE Entry- 0.0194 Stop Loss- 0.0204 Although if daily candle closes back above the broken support, then exit the trade and no need to wait for stop loss to hit Target- Final...
As Nifty is trading above its resistance area, it looks like the growth is being pushed by AUTO and FMCG Sector. AUTO Sector has recently broken out of its resistance area and it seems it will continue to go higher in upcoming weeks. Checking out AUTO STOCKS, Ashok Leyland looks a good pick. The price has broken out of its resistance area and is trading above...
The APTOS Cryptocurrency or APT coin looks ready for a huge fall. The coin is currently trading below the support level of 9.42-9.77. But to execute the short, we need to first wait for Daily Candle close below. It is always better to wait for the candle close, as sometimes the price reverses and creates a wick. Also, observe how price was making lower highs...
CADCHF is trading at all time lows area. Checking out the price action, the price is trading in a DAILY FALLING WEDGE PATTERN which is a BULLISH reversal pattern. Once daily closes above the falling wedge, a LONG can be initiated on 1. Breakout of falling wedge, 2. Retest of falling wedge as support after the breakout There is also BULLISH RSI DIVERGENCE, which...
Price is trading in a Downtrend and is currently trading in a Daily falling wedge. Checking out the RSI Indicator, we can see a bullish divergence. If Daily candle closes above the falling wedge, plus the red box, the resistance of 0.606, we can expect a trend reversal in AUDCHF. A Long SWING TRADE can be initiated:- 1. Either on breakout 2. or on Retest of...