240 MINS TIME FRAME - RAYMOND STOCKThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle.
Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price.
Keep it simple, keep it Unique.
please keep your comments useful & respectful.
Thanks for your support....
Tradelikemee Academy
Indianstocks
JSW ENERGY- Daily Timeframe-Bullish patternNSE:JSWENERGY
From March-2023 Stock is taking rejection from bottom trendline and on the upper side sellers are trying to sell it around 275-277 levels (resistance zone).
However, the swing lows are shifting up side (Higher lows) which is a sign of strength, sellers are not able to drag it below previous swing.
Currently it has taken support on the trendline 5th time and it’s near its rejection zone.
Stock has good potential to go upside in upcoming weeks.
This is only for educational purpose, please manage your risk accordingly.
RATTAN INDIA POWER - WEEKLY TIME FRAMEThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle.
Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price.
Keep it simple, keep it Unique.
please keep your comments useful & respectful.
Thanks for your support....
Tradelikemee Academy
DCMSHRIRAM Breaks Key Resistance Level with High Volume
🔍 Overview 🔍
DCMSHRIRAM, has been facing strong resistance at the 910-920 level since November 2022. Interestingly, the 910 level has been acting as both support and resistance since June 2021. Today, we witnessed a breakthrough of the 910-920 level with a significant surge in volume. This breakout occurred on the weekly and daily charts, making it a crucial development to consider.
📊 Technical Analysis 📈
Plan buy trade near closing of market if breakout sustains above resistance
DCMSHRIRAM has been consolidating within the 910-920 range for several months, indicating a period of indecision and lack of clear direction in the stock's price movement.
The 910 level has proved to be a significant support and resistance zone in the past, highlighting its importance in determining the stock's future trajectory.
Today, we observed a breakout above the 910-920 range with an extraordinary surge in volume, suggesting strong buying interest and a potential shift in market sentiment.
The breakout on both the weekly and daily charts strengthens the bullish case for DCMSHRIRAM, as it indicates a potential trend reversal and the beginning of a new upward movement.
📊 Technical Terms 📈
Before delving further into the analysis, let's clarify some technical terms for those new to trading:
1. Resistance Level: A price level at which selling pressure is historically strong, causing the stock's price to struggle to rise above it.
2. Support Level: A price level at which buying interest is historically strong, preventing the stock's price from falling below it.
3. Breakout: The movement of a stock's price above a significant resistance level or below a significant support level, indicating a potential change in the stock's trend.
4. Volume: The number of shares or contracts traded in a security or market during a given period. High volume often indicates increased market activity and can confirm the strength of a price move.
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If you found this analysis helpful, don't forget to give it a thumbs up! Feel free to share your observations in the comments section below. Your feedback and engagement are highly appreciated as they keep me motivated to consistently provide educational content.
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Remember, this analysis is for educational purposes only, and I am not a SEBI registered analyst. Always conduct thorough research and consult with a certified professional before making any investment decisions. Happy trading!
Delhivery: Reversal candidateAs seen in the chart, delhivery is currently trying to reverse it's trend from a bottom of 300.
350 has acted as a strong support and 400 is proving as a good resistance.
As per pattern, since the stock was in a long term downtrend, the zone of 400-350 can be considered as accumulation zone as the buyer's activity seems quite strong here.
A close below 350 can be considered as a stop loss for a positional mid-term trade.
More patient traders who are looking at a period of more than 6 months can place their SL below 300 and consider 300-400 as their accumulation zone.
JSW Steel ready for major breakout 🚀JSW Steel getting ready for major breakout :
Why you consider it as a Quality Trade
1. Price @ All time high
2. Time frame : weekly & monthly
3. Pattern : Pole & Flag
4. Structure : Super Bullish
5. Positional Trade for almost a year
Take Cautions before take entry 🚫 :
1. Wait for price to close above ₹792 in weekly time frame
2. Calculate your proper Risk Management
3. This my analysis not suggestion
BankNifty Breaks Channel Pattern and Forms Reversal CandleBankNifty Breaks Channel Pattern and Forms Reversal Candle at Resistance, Indicating Potential Bearish Momentum
Date: June 14, 2023
In a significant development for the financial markets, BankNifty, a prominent index tracking the performance of banking stocks in India, has broken a long-standing channel pattern and recently exhibited a notable reversal candle at a key resistance level of 44,202. This event has garnered attention among traders and analysts alike, signaling a potential shift towards bearish momentum.
The channel pattern, which had been guiding the movement of BankNifty over the past several months, was breached as the index surpassed its upper boundary. This breach denotes a departure from the established trend and has sparked anticipation of a new market direction.
Adding to the bearish sentiment, a reversal candle has formed at the critical resistance level of 44,202. Reversal candles are chart patterns that suggest a possible shift in sentiment, often heralding a reversal in the ongoing trend. This occurrence at a significant resistance level intensifies the likelihood of a bearish momentum taking hold in the BankNifty.
Market analysts and traders are keenly observing the current situation, considering the implications of this break and reversal. A sustained move below the channel pattern and the resistance level could further reinforce the bearish outlook for BankNifty, potentially leading to extended downward movement in the near term.
If this anticipated bearish momentum continues to materialize, it could impact various sectors within the banking industry and potentially influence investment strategies. Traders and investors are advised to closely monitor the evolving situation, taking into account technical indicators and fundamental factors to make informed decisions.
As with any financial market prediction, it is essential to exercise caution and consider multiple perspectives before drawing conclusions. The outcome of this potential bearish momentum remains uncertain, and market participants should be prepared for various scenarios.
Disclaimer: The information provided in this news article is for informational purposes only and should not be considered as financial advice. Trading and investing in the financial markets carry risks, and individuals should conduct thorough research and seek professional guidance before making any investment decisions.
NAGREEKEXP - DAILY TIMEFRAMEThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle.
Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price.
Keep it simple, keep it Unique.
please keep your comments useful & respectful.
Thanks for your support....
Tradelikemee Academy
Bharat Forge will continue to Rally with the Double BottomsBharat Forge has formed a bullish double bottom pattern, indicating a potential trend reversal. The recent breakout above the key level confirms the bullish sentiment. This breakout suggests that the price may experience a significant upward movement, potentially resulting in a gain of around 10-11%. It is important to monitor the price action and look for further bullish signals to confirm the continuation of the rally.
Adani Ports Strong Recovery with Highers Highs and Higher LowsAdani Ports has displayed a robust bullish trend, characterized by higher highs and higher lows, leading to a recovery from the earlier sell-off. Currently, an expected pullback towards the support level is anticipated to accumulate more buying pressure before initiating another rally.
Tata Consultancy has done a Trend Breakout as expected. Tata Consultancy Services (TCS) has recently experienced a breakout from its previous trend and is expected to retest a lower level at the highlighted support. The bearish momentum observed in the past few days has confirmed the anticipated bearish breakout. It is important to observe the price reaction at the highlighted zone following the retest from the support level.
Nifty is back on an Important Resistance, Possible Sell OffNifty has formed an ascending channel with a strong upward impulsive wave, nearing the resistance level. The identified resistance zone has shown significant selling pressure in the past, suggesting a high probability of similar price action. A bearish momentum and breakout from the channel are expected, leading to a potential retracement to the downside.
TECH MAHINDRA BULLISH SETUPFor more updates, please follow my TradingView page, and if you find the content useful, kindly hit the "thumbs up" button to show your support. If you have any queries regarding trading, please feel free to send me a direct message on TradingView. Additionally, please share this content with your friends who may find it beneficial.
Please note that any trading updates provided here are for educational purposes only, and it is always advisable to conduct your own research before making any investment decisions. It is important to ensure that all conditions are met before following any trade plan suggested in this update.
TCS - POSSIBLE BEARISH MOMENTUM ON THE KEY LEVEL FORMED
For more updates, please follow my TradingView page, and if you find the content useful, kindly hit the "thumbs up" button to show your support. If you have any queries regarding trading, please feel free to send me a direct message on TradingView. Additionally, please share this content with your friends who may find it beneficial.
Please note that any trading updates provided here are for educational purposes only, and it is always advisable to conduct your own research before making any investment decisions. It is important to ensure that all conditions are met before following any trade plan suggested in this update.
RELIANCE IND - ON A VERY IMPORTANT KEY LEVELFor more updates, please follow my TradingView page, and if you find the content useful, kindly hit the "thumbs up" button to show your support. If you have any queries regarding trading, please feel free to send me a direct message on TradingView. Additionally, please share this content with your friends who may find it beneficial.
Please note that any trading updates provided here are for educational purposes only, and it is always advisable to conduct your own research before making any investment decisions. It is important to ensure that all conditions are met before following any trade plan suggested in this update.
NIFTY poised to test its All Time High this week.The Nifty 50 Index (NIFTY) is extending the long-term Channel Up pattern that started after the March 20 2023 Low, when the 16750 Support held. The 4H MA50 (blue trend-line) is supporting for exactly 2 months and this week the technical Higher High and test of the 18890 Resistance (which is the All Time High) should be materialized.
As you see, the similarities between the current Channel Up and that of October - November 2022 as strong. It appears that the price is at the final stage (curve pattern), before the final rally. The 4H RSI break-out above the Lower Highs is another strong resemblance. This trend is invalidated if the price breaks below the 4H MA200 (target the 4H MA200 (orange trend-line). Our target is 18800 for safety, slightly below the Resistance just like the March 20 2023 Low was slightly above the Support.
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