NSE:ABFRL has broken out of a symmetrical triangle with decent volumes. If the breakout sustains then it has the potential to take the prices at 340/350 levels. Keep an eye!
I posted this charted earlier when it hit the red arrow at the upper channel and said it might be the top. Apparently it wasn't but I maintained my view that even if this (red arrow) isn't the top, it should eventually go down after hitting the upper channel. Looks like we are at that stage now (blue arrow). It may break above the channel but I am biased to the my...
Rising wedges have bearish implications and NSE:BANKBARODA has just broke down from a rising wedge. If prices fail to go past the breakdown trendline and sustain then we are looking at a huge downside risk as per the measurement shown. Keep an eye!
NSE:LICHSGFIN has given a H&S breakdown in daily by giving a close 3% below neckline. If prices do not recover from here, we are looking at a huge downside of sub-200 levels. Keep an eye!
BSE:DIVISLAB has formed a H&S pattern. It broken down and did a pullback too. Now a red candle closing below the neckline (blue line) in daily could be a good shorting opportunity for a short term target of around 4000 and lower. Keep an eye!
NSE:SRTRANSFIN has formed a H&S pattern and right shoulder got completed today. Note that this does not necessarily mean that stock will start falling right away. Wait for 1-2 days and see the price action. Even when it breaks, expect a pullback. Keep and eye!
BINANCE:SOLUSD is trading in the ascending triangle consolidation which is bullish but it made a failed breakout attempt so far and now trading near lower trendline of the triangle. EOD close below 184 could provide strength to a bearish bias on the counter. Breakdown from that level could take it to a much lower levels (below 100 potentially). Having said that,...
NSE:NIFTY has today broken out of falling wedge pattern which is bullish in nature. As per the minimum height of structure, this breakout, if it sustains, could take #NIFTY50 to 17900 levels soon.
BINANCE:MANAUSD is forming a rising wedge which typically has bearish implications. If it breaks down from here and gives a daily close below the lower channel line of the wedge then prices may potentially fall below 2. No harm done till the channel isn't broken on a closing basis. Keep an eye!
BINANCE:XRPUSD has broken down from symmetrical triangle consolidation and could potentially fall as much as the height of consolidation structure. Keep an eye!
NSE:TATAPOWER is forming a flag after a quick rally. Such consolidations post rally usually occur at 50% of the move which mean rest of the 50% move is still pending and may come into play on breakout from the triangle consolidation. It could be a 125 points move as per the distance of consolidation top from the the point rally started. Keep an eye for the breakout!
NSE:ULTRACEMCO is in process of forming a classical 5 point broadening top pattern. This is typical of a top and prices take a fall once this formation is complete. If many stock form this pattern in a given market then that is a forewarning of a potential bear market. For this patten to come in play, prices should go down and break the lower trend line but if...
NSE:M_M is forming a classic double top in daily timeframe. It hasn't broken down yet when/if it does, it may pull the prices down to near 700 levels. Keep an eye!
NSE:NIFTY seem to be forming a head and shoulder pattern in daily chart. If it breaks then it could it back to 16700 levels but for the context, SP:SPX also made a similar pattern very recently but it did not breakdown. Fingers crossed!
Check out the rising fan lines. BINANCE:MANAUSD is moving up steadily. Good time for both fresh longs and accumulation.
If you take a good look at weekly chart of NSE:MARUTI , you can find multiple bullish patterns and yesterday's 7% move with good volumes might mean that a new bull run can be seen in it. You can find head and shoulders, W (double bottom) and cup and handle. You can't possibly get a more bullish technical setup than this.
NSE:MINDTREE is breaking out from head and shoulders neckline. If the breakout sustains then it can take the price to 5600 level very soon.
NSE:CDSL broke out last week from a triangular consolidation. I caught it late but it still seem to have some juice left. It could touch 1900 based on the height of consolidation pattern.