LICHSGFIN: Sell at around 610 stop loss at 620 for the minimum target of 560. Time:10-15 days. LICHSGFIN has formed the head and shoulder pattern on the daily charts which resembles the sellers taking the command on the price. Also on weekly charts prices formed a descending triangle which has already broken below 610 levels.
Read MoreAfter a good bull run now SGX NIFTY indicating signals of selling opportunity.After placing the support and resistance on the charts I have observed the intersection point which will create a stiff resistance for the market price at around 10400 levels. Moreover , Gann Angles breaking below 10400 levels and now will act
Read MoreA Head and Shoulder pattern formation in a prevailing bullish trend is a sign of reversal or at least a temporary sell off as its basically a reversal formation of the existing trend. Why I am suggesting a temporary sell off ? Because in technical analysis if we observe any price pattern which is in
Read MoreA bearish wolf wave is a five wave pattern in which stock price forms higher tops and higher bottoms in a sytematic move and retrace around its major top and lowest bottom at 130% to 161% retracement. At the highest top when it confirms the selling in the form of candle stick analysis we can
Read MoreA Bullish Butterfly is a harmonic pattern which resembles just like a butterfly shape . Its bottom must be confirmed by a long term trend line acting as a long term support the demand area. Around that support area it has formed a long legged Doji candle which itself shows the uneasiness of short sellers.
Read MoreToday banknifty completed a bullish cypher shape which is a harmonic trading price pattern and thus resembles a good opportunity to trade it on the long side. 200 DAY SIMPLE MOVING AVERAGE AND EXPONENTIAL MOVING AVERAGE PROVIDING A SUPPORT AREA ON 4 HOURS CHART AROUND 24000 LEVELS. So my opinion that this is an opportunity
Read MoreInverse head and shoulder formation:- An inverse head and shoulder formation in an uptrend is always going out to be very strong formation for the prices. Also , the shape resembles on daily and weekly charts too provides the strong potential for the same. Moreover , after studying the positions in derivative markets of September
Read MoreAn ascending triangle formation in an uptrend is always going out to be strong pattern as it resembles the continuity of prevailing trend. Indicator study supporting the upward breakout as the ADX WITH DMI indicator is above 15 which is showing strength in the prevailing direction. Little bit concern with open interest in the previous
Read MorePATEL ENGINEERING is having a market cap of 1219.85 crores is fundamentally a strong pick for upside potential. Technically, has formed a bullish cypher pattern which is also confirmed by the volume analysis. Combined data suggests a good buying bet for positional buyers… Your stop should be around 69 and upside looks at least 95….
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