Breakouts
MRF Ltd. (NSE: MRF) – Technical Analysis UpdatePattern 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 ₹150,995 and found support near ₹115,601. The handle has now completed, as the stock consolidated within a falling wedge pattern, building strength for the next leg upwards.
Key Resistance Levels:
Immediate Resistance: ₹144,045 (4.26% upside) – This level aligns with the upper boundary of the wedge pattern. A breakout above this level would signal strength, confirming the end of the handle phase.
Major Target: ₹161,250 (16.54% upside) – This represents the projected target based on the full breakout of the cup-and-handle pattern, leading towards a possible rally to the previous all-time highs.
Support Levels:
Strong Support: ₹133,298 – This aligns with the 50% Fibonacci retracement level, where the stock has shown significant buying interest during previous dips.
Key Fibonacci Levels: 61.8% (₹133,475) and 38.2% (₹129,121) act as pivotal zones for any pullback in case of renewed selling pressure.
Volume Profile & RSI:
Volume Analysis: The recent volume spikes, especially during the approach to the wedge breakout, show accumulation, confirming investor confidence.
RSI: The Relative Strength Index is approaching the 60-70 range, suggesting a healthy bullish trend without overbought conditions.
Outlook: If MRF Ltd. breaks out of the ₹144,045 resistance level, it could see a swift move towards ₹161,250, a potential gain of 16.5% from current levels. Traders should look for strong volume confirmation during the breakout for additional momentum.
Risk Factors: If the stock fails to sustain above ₹133,298, there could be a deeper retracement to test lower Fibonacci levels, with downside risks towards ₹129,000-125,000.
Symmetrical Triangle Formation in CAMS – Awaiting BreakoutOverview:
CAMS is currently forming a symmetrical triangle on the daily chart, a classic continuation pattern. This pattern typically indicates a period of consolidation before the next significant move, and given the stock’s strong previous uptrend, there is a potential for an upward breakout. However, the symmetrical triangle is neutral until confirmed, so both bullish and bearish breakouts are possible.
Pattern Breakdown:
The triangle is defined by point A (around 4900 INR), where the stock reached a high, and point B (around 3850 INR), marking the recent low. The price has been forming lower highs C (around 4600 INR) and higher lows D (around 4200 INR) as it tightens into the apex.
This contraction in price is a sign that the market is undecided, but once it breaks out of the triangle, a directional move is expected.
Key Observations:
RSI Oscillator:
The RSI, set to a period of 14, is hovering around the neutral zone (~50). This shows that the stock isn’t currently overbought or oversold. A move above 70 or below 30 could signal a strong trend in the direction of the breakout.
Volume Decline:
As the triangle develops, volume has been tapering off, a typical characteristic of consolidation. A significant volume spike will be key in confirming the breakout direction.
Breakout Levels:
Upside Breakout: A break above point C (around 4,600 INR) could trigger a bullish continuation, given the previous uptrend. Traders should wait for confirmation via price action and volume.
Downside Breakout: A breakdown below point D (around 4,200 INR) could signal a bearish reversal, especially if accompanied by increased volume.
Final Thoughts:
Symmetrical triangles can break in either direction, so it's crucial to wait for confirmation. Given the prior bullish trend in CAMS, there's a greater probability for an upward breakout, but the possibility of a downside move can’t be ruled out. Patience is key—monitor the volume and price action carefully for a strong breakout signal.
Disclaimer :
This is for educational purpose only. I am not SEBI registered advisor. Take advice from financial advisor before investing.
HDFCAMC Near Breakout ZonesHDFCAMC near to resistance zones and these zones already tested multiple times and can be a weak zone, there is a highly chance that it can breakout.
Note : This is just an analysis wait for the price to confirm.
Disclaimer :
Always follow Risk to Reward, because this is the key to success in this business, no matter how much good a trade is looking, we never know the future.
PEPE/USDT: SWING LONG POSITION!!Hey everyone!
If you're enjoying this analysis, a thumbs up and follow would be greatly appreciated!
PEPE looks good here. It is breaking out from the symmetrical triangle in 4hr time frame. Long some here and add more in the dip.
Entry range:- $0.0086-$0.009
Target:- $0.0102/$0.0109/$0.0118/$0.0128
SL:- $0.008
Lev:- Use low leverage (Max5x)
What are your thoughts on PEPE's current price action? Do you see a bullish pattern? Share your analysis in the comments below!
[PLATINUM] Breakout, checked....retest, checked...TVC:PLATINUM seems ready to go higher as it successfully retesting the downtrend line.
As with other commodities, the theme here is China's effort to boost its sluggish economy with its money printer.
86400 resistance #BTCSeems we are in a ascending broadening wedge pattern, with a missing 5 Elliot leg.
If confirmed, we might see a break out to the 86400$ resistance.
220% for Fet in 50Fet's looking to lead the AI charge in the coming weeks we have :
Reverse Head & Shoulders:
• We’ve got a clean Reverse Head & Shoulders pattern in play, which signals a strong bullish reversal. The base sits just above 1.00 USDT, and we’ve already seen a breakout confirmed at 1.309 USDT. This setup is often the precursor to a significant upward move.
Price Targets:
• First target sits at 2.032 USDT, a solid 58% gain from the breakout point.
• Beyond that, we’re looking at a long-term target of 4.180 USDT, marking a 220% potential increase. This target aligns with the projected upper channel, showing a clear path if bullish momentum continues.
Volume & Momentum:
• Volume is backing up the move—strong buying pressure is evident with a notable increase in green volume bars.
• The momentum indicators (likely MACD) are also bullish, reinforcing the strength of the breakout. This suggests there’s still room for the trend to run further.
Historical Reference:
• On the right side of the chart, there’s a past pattern with similar price action. After consolidating for 45 days, the price moved sharply higher. While past performance isn’t a guarantee, it’s definitely worth noting the similarities.
Strategy:
• For those looking to enter, a re-test around 1.309 USDT (now support) offers a solid entry point.
• A break above 2.032 USDT could ignite further momentum, potentially driving price toward 4.180 USDT in the coming weeks or months. Watch for sustained volume and bullish momentum to confirm the trend.
Summary: Fetch.AI is setting up for a strong move, with a clear bullish pattern and solid upside targets. If momentum continues, the next few weeks could see substantial gains. This is a trend worth watching closely.
JKCEMENT Ready for Breakout...NSE:JKCEMENT trade at 4670. You can watch for 5500-5600 level after breakout.
Unfilled bullish breakouts. Re-tests further down.The bearish breakouts from 11th June and 2nd August were filled before BTC continued further down.
Two bullish breakouts from 5th and 8th of August are still unfilled and I'm expecting price to reach down at least to the one from 8th of August before we will either see a bullish rejection or price will continue to fall.
If price breaks below the 50k level next support further down will be between 40-44k.
Play in a Range...NSE:ASIANPAINT trade at 3120. Support is @ 2700 Resistance is @ 3600.
stock trade in 900-1000 points since 3 years, You can watch its next resistance at 3600.
Looks promising!With exceptional ROE, strong interests from Institutions and with analysts recommending a buy, it seems like the stock will reach new highs.
I'm not a SEBI-certified advisor. My posts are just my ideas or trades I entered into. They may or may not work. I trade with a strict SL, and my RR is 3.
EurUsd → so bullishhello guys.
let's dive into eurusd
Breaking the Channel:
The price has broken out of a previous channel, which suggests a potential bullish momentum continuation. This breakout is marked as a significant event that has shifted the trend.
The Last High Broken:
The chart indicates that the last significant high around the $1.1169 level was broken. This breakout above the previous high is a strong bullish signal, suggesting further upward potential.
Internal Trendline:
There’s an internal trendline within the broader trend that could act as support if the price pulls back. The price might retest this trendline before moving higher.
Potential Bullish Move:
After breaking the last high, the price may retrace slightly to retest the breakout level or the internal trendline, before continuing its upward move.
The next potential target appears to be in the region of $1.1300, where the price may find the next significant resistance.
Current Price Action:
The price is currently hovering around $1.1166, slightly above the previous resistance, which now acts as support. This area will be critical in determining if the price continues its bullish trajectory or pulls back for a deeper retest.
This analysis underscores a bullish outlook for the EUR/USD pair, emphasizing the importance of the broken resistance level and the potential for further gains if the trend continues. Traders should watch for a retest of the breakout level to confirm the strength of the move.
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
AEROFLEX IND - INVERSE HEAD & SHOULDER PATTERN BREAKOUT INVERSE HEAD & SHOULDER PATTERN BREAKOUT STOCK FOR SWING TRADING
BUY PRICE : 174
SL : 158 (only for swing traders)
TARGET : 196, 230 (32%)
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Massive Bull Flag on the Daily & Weekly, The breakout of this Bull Flag is going to bring BTC once again to heights we have yet to see. When we use a Trend Base Fib Ext, we can see the next Golden Pocket sitting up at $85.600. This is a continuation of the monster Cup & Handle we broke out from earlier this year.
GOlD → stick to the long positionhello guys.
I believe gold is still bullish and only long positions are logical.
Channel Breakout: The price of gold has broken out of the main ascending channel, indicating a strong bullish move.
Fake Divergence: A fake divergence was spotted, but the price continued to rise, rejecting bearish signals.
Support Zone: The price is currently hovering above a significant support zone (highlighted in blue), which could serve as a springboard for further upward movement.
Target: The next potential target lies near the upper boundary of the newly formed channel, around the $2,550 mark.
Summary
Breakout: Price broke above the main ascending channel.
Support: Holding above a key support zone.
Target: Aiming for $2,550 as the next potential resistance level.
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Play for a Range Breakout...NSE:LAURUSLABS trade @ 445, Resistence is 485 & Support is 385. lauruslabs trade in range since APR/2023. You can watch for a breakout and next resistence is @ 600-625 after that its ATH @ 725.
Westcost paper seems breaking out.It looks like a good short term breakout. My idea is to exit at the 2nd leg.
Grasim Weekly TF Breakout First Resistance -- 2709.6
Second Resistance --- 2734.3
Third Resistance --- 2776.5
First Support --- 2642.7
Second Support --- 2600.5
Third Support --- 2575.8
Positional long
Daily Avg. Delivery Volume %
21 Aug, 2024
68.0%
Week
56.5%
Month
59.0%
I'm buying thisI missed the dip but still time to buy this. If it pulls back I'll buy more. It's testing the demand zone after break out. Was consolidating since 10/2023. Is not done going up.
CENTURYPLY Seen an Upside Swing Move...CENTURYPLY made a triangle pattern. and give a breakout above 750. You can watch for a Swing move. Next Resistence is at 1000...
ICICI Bank Ltd: Ascending Trend Line and Potential Bullish BreakTechnical View
➡ Ascending trend line providing strong support
➡ Retrace from demand zone near 1150
➡ Next resistance at 1247
➡ Bullish breakout possible above 1192
➡ RSI at 52, indicating neutral momentum
