MUNJALAU | SWING | LONGVolume Contraction
Creating Base near ATH
High Momentum
Needs a final basing to plan entries
Volumecontraction
KINGFA | VOLUME CONTRACTION | HIGH MOMENTUMCreating a nice base near highs
Volume contraction
High Momentum
Caution:
Overall market conditions are highly volatile which can impact the trade idea
SHRIRAMFIN | SWING | LONGCreating a nice base near highs
Volume contraction
Negative:
EMA's Flatting which means the price is lacks momentum
Caution:
Overall market conditions are highly volatile which can impact the trade idea
IIFLSEC potential breakout Strong buying force followed by VCP formation.
Price trading in tight range.
Volume contraction.
Low risk entry.
RKFORGE potential breakout POSITIVE POINTS:-
Strong buying Force.
Trading in a narrow range.
High relative strength.
Took support from 50EMA & now above 20EMA.
Volume contraction & institutional footprints visible.
NEGATIVE POINTS:-
Overall market condition is not favorable for breakout trading. Key indices are near 50EMA, there could be a potential break down in the coming days. No follow through moves were seen in last few days.
KOS formed a nice base, waiting to break outKOS has been consolidating nicely the last few day and forming a handle that is coupled with volume contraction. Relative strength is strong on this stock - with volume it can easily clear $8.50 and higher
HAL about to break out from a stage 2 baseHAL is showing incredible strength, with a cluster of RS before new highs and even after a day of significant selling, price still held the short term uptrend that also forms the handle in this cup and handle pattern. Over $42.60 and this stock sees new ATHs with just over a month to go before earnings; HAL has done well on the last 4 earnings and in this current market this looks likely to happen again. Volume has been contracting during this accumulation phase, but this stock looks ready for a strong next leg up
RELIANCE price action analysis - bullishNSE:RELIANCE did a breakout recently and made all time high. Looking at hourly timeframe it looks like it's consolidating and forming a bullish flag pattern. Volume is also contracting while the price is consolidating.
There's a gap to be filled from 2395 to 2412. It had a chance to fill it on 8th september but the price reversed from 2406. It would be interesting to see what happens next week. It might give a fake breakdown to fill the gap and then reverse strongly trapping bears. Hoping for a break from a bull flag structure with a volume influx. Happy trading!
