Ashok Leyland - Expanding Channel BreakoutThe price made Expanding Channel pattern and retesting the support level after Breakout.
Nseindia
ZEEL - At major confluence ZEEL is trading in a wide Bearish rising wedge .
And currently at the support of major Sell trendline and at the demand zone .
Looking to SHORT below the zone breakout after retest . Looking to BUY if confirmed with a price reversal pattern (lower TF) or candle stick catalyst on the confluence with good volume and momentum.
HINDALCO - Short setup Stock is currently trading in third stage of market cycle .
1-Accumulation 2-Rally 3-Distribution 4-Rejection
currently at the peak , at the overbought zone. Has formed a broadening pattern on the top which is rejected by a overhead trendline.
RSI DIVERGENCE
Looking to short once the Chart pattern is broken and retested .
BPCL - Earnings Day AnalysisTrading in a Symmetrical Triangle , Rejected by the overhead trendline .
Currently on a minor zone. It has also formed a channel in the major Triangle structure .
Looking to BUY if the triangle is broken & retested .Looking to SELL if the below minor zone is broken and retested .
RALLIS - Bullish breakoutBullish Pennant formed in the major Broadening structure .
At the Sell trendline of a broadening structure (Key support ) with multiple lower rejections .
Forming a double bottom (High probability reversal chart pattern )
Stock is currently trading in a zone ( Consolidation phase)
Volume seems to be increasing on the buy side , looking for a good volume breakout .
THE IDFC FIRST BANK IN BREAKOUT ON MONTHLY CHARTI SEE THE STOCK IN UPSIDE AND BREAK THE LEVEL
The idfcfirst in profit Q.3 Result
35.00 to TGT 70.00 +
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My Analysis | Provide me insights where I am Wrong ? What I have done and What I believe -->
I have analyzed this chart on the basis of supply-demand and SR lines.
I have used RSI and Parabolic SAR and I am hoping the price will not bounce from the upper level, Because this level of demand served 3-4 as demand level in previous months and most probably it will serve the Demand area Also.
Please tell me where I am wrong and provide me positive feedback.
DivisLab Ready to Retest Nice Price action on Daily and Weekly, looks like ready to retest the green zone as shown in my analysis. No position YET.
1900 LIMIT ORDER PLACED Reliance Industries Daily and Weekly time frames looking good for long term in terms of Price Action
Birla Corp ready for breakout?Stock is at a critical level, will it breakout or breakdown like it has in previous years at this level? Keep your eyes on the charts and follow me on tradingview/twitter to find out!
#banknifty analysis for 5th Feb #banknifty analysis for 5th Feb
6 trading session 5725 point rally, it's too fast & furious rally to sustain and have to cool down.
The pattern getting formed is a nonsustainable pattern and will fail (71% elevation can't be sustained)
Positional short only below 34,200.
Decision Zone:- 35,028 -35,160
Upper Targets:- 35,321 / 35,413 / 35,845 / 35,996 / 36,112 / 36,328
Lower Targets: 34,791 / 34,498 / 34,047 / 33,586
One of the best forms of PA action is not to predict but to act on the price, chart tells you where, when & how to act on price. Wait for the decision points on the chart to act else don't trade.
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Regards,
SG
Why you shouldn't invest in metal stock post budgetDon't get easily fooled by the positive news for metal stocks post budget, here is the weekly chart of Nifty metal! Sideways action since the initiation of the index! Now if you are good at catching tops n and bottoms of the market you can go ahead and trade it, but even Hedge fund managers have a tough time doing this so good luck 😉
AXIS BANK - Swing Trade SetupHi Traders,
We have spotted a divergence in Axis bank daily chart. Price broke the inner trendline yesterday and price is retesting the trendline. If price close below its confirmed breakout and we can sell till price reach TP 1 or can hold till TP 2, its likely to test the outer trendline.
Happy Trading.....
