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NMDC formed a head and shoulder pattern on daily chart. Price is about to breakout but please wait for clear breakout with strong close before you enter. When forming the head price was falling heavily but not with much volume. This indicates sellers are not willing to sell at these lower price. Stop loss can be held just below right shoulder with a risk reward of...

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DHANUKA formed a descending channel pattern on daily chart. Price broke out resistance with strong bullish candle. Also note the volume on breakout that is above average. Multiple support and resistance were tested before the breakout. There was a strong runup prior to formation of this pattern showing buyers interest. Formation of hammer candlestick pattern prior...

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ABCAPITAL formed an ascending triangle pattern on daily chart. Price broke out of the candle early. However, there was some period of consolidation and could notice price acceptance at new levels. Resistance level were tested multiple times and price broke with strong volume. Moreover the breakout candle gaped up indicating strong buying pressure. While...

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LICHSGFIN is forming what that appears to be a reverse head and shoulder pattern on daily chart. Stock has been on a steady uptrend for more than a year now. Note the run up prior to formation of head and shoulder pattern with good volume. Also during selloff there wasnt much volume indicating sellers are dried out. On the right shoulder there was a hammer pattern...

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CYIENT formed a falling wedge pattern on daily chart. Multiple support and resistance levels were tested before the price broke out of resistance. Currently, the price is being retested with current support level (previously resistance). Note the high volume on breakout and subsequent low volume when price falls signaling sellers are dried out. CYIENT had a strong...

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IMFA formed a right angled descending broadening wedge pattern. This is a bullish pattern with bullish breakout happened three sessions earlier. Price inched higher than the breakout candle high today forming an ideal entry today with stop loss just below breakout candle low. There was high volume during breakout and prior to formation of the pattern indicating...

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HONAUT formed a triangle patter on weekly chart. This pattern has been forming for the last two years. It appears breakout has happened on it today. Though the volume was relatively low compared to previous trading session. There was strong bullishness with Marubozu candle formation today. Multiple support and resistance were tested with recent runup in price that...

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CYIENT formed a falling wedge pattern on daily chart. With multiple support and resistance tested. It had a clear breakout supported by strong volume. Though overall market was negative today CYIENT seems to outperform the market. Good candidate for a swing. Stop loss can be held just below breakout candle with target the size of broader edge of wedge. If you...

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SPX index showing bearish divergence on RSI. While price have been moving up steadily for the last two months. RSI doesn't seem to track price instead it has been falling. This bearish divergence indicates there could be possible correction in SPX. From past correction, I guess it could be around 10% where there is a good support. Also this correction can be...

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LAURSLABS formed a Pennant on weekly chart. Price had a good runup prior to formation of pattern with high volume. It also had low volume upon formation of Pennant (i.e. during consolidation). Breakout has happened with above average volume as well. Entry is just above today's high with stop loss just below today's low. This setup has an ideal risk reward ratio. A...

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SHRIRAMFIN formed an ascending triangle pattern on daily chart and broke out of the pattern today. With multiple support and resistance tested, appears to be a bullish breakout. Stoploss can be held just below the breakout candle with target the size of broader edge of triangle. You could trail stop loss with either 2 ATR (Average True Range) or 10 EMA...

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KESORAMIND broke out of channel pattern on daily chart. There has been tight consolidation for almost three months. Trading in the range of 10-15%. Also during runup to the channel, there were huge buying as shown in volume. While consolidating you could notice volume has dried up. Signifies sellers are not willing to let the price go down. Though there was not a...

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BSE formed a descending right angled broadening wedge pattern on daily chart. With multiple support being tested. It had a strong breakout today with good volume. Also notice volume dried up when price was falling during the pattern formation. You can also notice a good runup prior to the pattern formation. Stop loss can be had just below the breakout candle with...

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MOIL formed a falling wedge on daily chart. With multiple support and resistance tested. It had a strong breakout today with good volume. Also notice the volume when the price falls, it appears as if sellers are dried out. Moreover could notice spikes of volume and runups. Gives good indication that bulls are out there. Given the larger move today, stop loss can...

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NFL formed a falling wedge pattern on daily chart. Multiple resistance and support were tested during this pattern formation. There were below average volume whenever the price falls. Also there was huge volume during the runup to form the falling wedge pattern. Stop loss can be kept just below recent low. First target could be prior 52week high. Low risk compared...

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POLYPLEX formed double bottom on daily chart. Price broke out of the pattern with strong bullish candle. Note the volume spike on green days and low volume when price was falling signaling sellers are dried out. One can consider having stop loss just below previous swing low and target and resistance level. Supporting this RSI also shows divergence on both the...

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KRBL formed a double bottom with a strong bullish breakout. Can notice divergence on RSI when both bottom were tested signaling bullish momentum. Stop loss can be held just below previous swing low with first target on previous resistance point. Notice low volume when price was falling signaling dried up sellers. If you think this idea is worth your time, please...

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NHPC formed a triangle pattern on daily chart. With the formation of double wick on initial test of support, there was a reversal in price action. There seems to be a strong support at this level. Price broke out of resistance that was tested previously at least twice. However there was some selling on the same day of breakout. Following day price tried to move up...