State Bank of India (SBI) – Bullish Reversal Setup with Inverse Head and Shoulders Pattern SBI is currently forming a classic Inverse Head and Shoulders pattern on the daily chart, a strong indication of a potential bullish reversal. The neckline, located at ₹826.45 , is the critical level to watch. A successful breakout above this level could trigger upward...
The stock is trading within a long-term upward sloping channel , indicating a sustained uptrend. It recently bounced off the support level of 648.75, which aligns with the lower boundary of the channel, showing strong demand at this level. Additionally, the stock has broken out of a falling wedge pattern , typically signaling a bullish reversal. Key...
Ascending Channel: The stock has been trading within an upward-sloping channel since late 2023, making higher highs and higher lows, which indicates a strong long-term uptrend. The price recently tested the lower boundary of the channel and has shown signs of a rebound. Triangle Breakout: A bullish breakout has occurred from a symmetrical triangle...
The chart of GIFT Nifty 50 Index Futures shows a well-established upward trend, with the price action respecting key Fibonacci retracement levels. Here’s a professional analysis: Key Support and Resistance Levels: Resistance: The index is nearing the 0.00% Fibonacci level at 27,316.5, which could serve as an immediate resistance zone. A break above this...
The AUD/CHF pair has been forming a recovery after bouncing off the 38.2% Fibonacci retracement level at 0.5643, following a sharp downtrend. Currently, the price is trading around 0.5840, indicating a potential breakout from the downtrend channel. Key Resistance Levels: 0.5814 (61.8% Fib retracement) 0.5900 (Top of the downward sloping trendline) ...
Pattern Formation: MRF Ltd. has been forming a cup-and-handle pattern over the past several months, indicating a bullish continuation. The stock has successfully tested the key Fibonacci retracement levels and is now moving towards potential breakout zones. Cup-and-Handle Formation: The rounded cup formed after the stock declined from its peak around...
Neutral Outlook on Waaree Renewable Technologies – Key Levels to Watch Waaree Renewable Technologies is currently forming a symmetrical triangle pattern after a significant downtrend, signaling potential consolidation. A key technical indicator, the bullish RSI divergence , suggests weakening downside momentum. The stock is also stabilizing near the ...
🚀 Market Insight 🚀 I'm excited to share my latest analysis of Hindustan Aeronautics Ltd. (HAL), where the stock is displaying promising bullish signals. Key Highlights: Government Contract Boost: HAL recently secured a significant ₹260 billion contract from the Indian Air Force, providing a strong fundamental backdrop. Technical Analysis: The stock has broken...
In this EUR/INR analysis, we observe key confluences between price action and Fibonacci retracement levels, which are driving the pair's current movement. The pair is testing a critical support zone near 0.010727. A potential reversal could occur, as buyers seem to be stepping in at this level, which also coincides with the 23.6% Fibonacci retracement level at...
Silver prices are approaching critical levels, with the price currently hovering around ₹90,080. Recent price action has shown a breakout from a descending wedge pattern, signaling potential bullish momentum ahead. Key Observations: Wedge Breakout : A classic descending wedge pattern has been broken, indicating a shift in market sentiment toward...
As of September 26, 2024 , the daily chart of Reliance Industries (RIL) is presenting a cup and handle pattern , a bullish continuation structure suggesting potential upward movement in the stock price. Key Insights: Cup and Handle Formation: The stock has completed the cup portion and is forming the handle, indicating a likely breakout. A...
As of the latest price action, Laurus Labs Ltd. is trading at ₹461.45 , down by 1.87% on the day. The stock has shown an interesting pattern of movements within a defined upward sloping channel, which has been respected well over the past year. Key Technical Analysis: Channel Support & Resistance: The stock has been moving within a clear ascending...
As of today, Dalmia Bharat Ltd. is trading around ₹1,910.35. The stock has been consolidating in a defined range, with key levels providing important insights into potential future price movements. Key Price Levels: Immediate Resistance – ₹1,966 (5.02% above current price): The stock faces its first significant resistance at ₹1,966. A breakout and...
This chart displays the technical analysis of Bajaj Housing Finance Ltd . on a 1-hour timeframe. The price action is currently forming a symmetrical triangle , indicating consolidation after a sharp upward movement. Key Observations: 1. Support and Resistance Levels: Immediate Resistance : ₹174.30, followed by ₹181.50 and ₹199.52. Immediate...
Overview: Aarti Industries is currently in a critical zone, showing signs of a potential bearish reversal after forming a “Double Top” pattern near ₹765. The stock is trading at ₹573.80 and is approaching the 61.8% Fibonacci retracement level of ₹568, a key level for traders to watch. Key Technical Indicators: Double Top Pattern: The stock has...
Bitcoin Price Analysis: Post-Breakout Scenarios Bitcoin recently broke out of a descending triangle pattern, signaling potential bullish momentum. Here are the key scenarios to watch: Bullish Continuation If Bitcoin stays above the $61,362 support, it could retest the $63,860 resistance. A break above this level could push BTC towards $65,504. Retest and...
WTI Crude Oil continues to trade within a descending channel, reflecting a broader downtrend that has been in place since early August. The price is currently hovering around the $69.93 level, attempting to break through a significant resistance zone near $70.64. This resistance zone aligns with the upper boundary of the channel, adding further strength to the...
CG Power is showing strong bullish momentum, having previously surged by 85.31% within a defined bullish flag pattern. Following a healthy consolidation, the stock has successfully tested and held the triple bottom support line, signaling potential for further upside movement. Key technical indicators suggest a likely breakout from the flag pattern in the coming...