Descending Channel

Nifty Nifty through the week was within a falling channel making Lower Lows and Lower Highs. At close today it came into the PRZ of 3 Bullish Harmonic Patterns, namely, Shark, Bat & Gartley. If it were to reverse from this level it needs to survive above 11940 for an hour at least. Then it could move all the way back to test the falling channel at 111975-12025. From that range (or on failure to hold 11885) we could expect the next set of 3 Bullish Harmonic Patterns. namely, Alt Shark, Bat & AB=CD get

05:08

by Dinesh_C_Nagpal

BANKBARODA - 240MIN - Ready for reversal ?Bank of Baroda has been in a descending channel for the past month. The stock has formed this reversal channel at an important daily support zone. The stock created a double bottom formation last week giving more indication of a reversal. Stoploss - 88.65 Target 1 - 99.05 Target 2 - 103.35 Target 3 - 107.30 Disclaimer This content is for information and educational purposes only and should not be considered as a piece of investment advice or an investment recommendation. Past performance is n

by PranamGhagare

Indiabulls Housing Finance - Long Term Buy ?The Stock has been in a downward spiral for many months. It has created a descending channel on the daily chart as well as another small descending channel inside the bigger descending. 3 touches of a pattern indicate pattern completion. Here both the descending channels have completed their respective 3rd touches at the same point. We have also a Morning Star candle shape formation at this low. This is a stock to buy and hold for the coming weeks or months. The Levels are indicated on the Char

by PranamGhagare

MAHINDRA AND MAHINDRA - 60MIN - M&M positive after 566 levels Mahindra & Mahindra is in a descending channel at a double bottom structure at a weekly support zone. The RSI suggests a positive divergence. Target 1 - 566. Traders can maintain a stoploss of 540 Traders can look for further targets after 566 levels have been broken.

by PranamGhagare

Probable down move from channel resistance Nifty has arrived the resistance level of the descending channel. If tomorrow price gaps down and moves downward in first 15 min, a short position can be opened with SL above the swing high and a target of 11650. If price gaps up and sustains over today's high, this trade plan will no more be valid.

AUD/USD Technical analysis The pair is going down the hill slowly but steadily in a descending channel formation. It was thrown down by the resistive trendline, in the due process, crossing a support level of 0.71157. We expect it to test the broken support, which can be used as an entry point for a short trade, and then move to the supportive trendline.

EUR/USD Technical analysis The descending channel resistance has come to play in the EUR/USD. The price, after making a V-shaped rally is at a price action resistance zone now. Owing to the above two factors, we expect the pair to turn bearish from here.

M&M : Downward Channel NSE:M_M M&M is trading in a downward channel and making lower high lower lows. Currently shown reversal patter on top of channel. If starts trading below Friday low, we can go short.

by darshandedania

IBULHSGFIN DOWN AS OF NOW !!IBULHSGFIN is following the descending triangle channel and it is expected to kiss the channel support. Even if it breaks the channel resistance, we can expect a reversal from 50 sma and then back to channel.

SREI Infra - channel breakout SREI Infra - channel breakout Good candidate for long.

by VishnuTalanki

ZEEL trading idea ZEEL has formed an doji/harami pattern inside descending channel. Can go either way. Long idea - Entry - 506.4 Target - 515 SL - 499.15 Short idea - Entry - 499.15 Target - 487.35 SL - 506.4

by VishnuTalanki

GRASIM weekly engulfing +channel breakout chances Long above 1050 only. SL - 957 Target - 1276.45

by VishnuTalanki

IDFC descending channel breakout IDFC descending channel breakout Long above 53 SL - 49.3 Target - 60.55

by VishnuTalanki

EUR/USD Technical analysis The 1-hour chart of EUR/USD is currently in a descending channel formation. The trend line also coincides with 200 SMA which could acts as strong resistance. As per our analysis,we expect a strong selling pressure immediately. On the contrary,if it breaks the resistance,we can expect short covering too.

Adani Power short term view Adani power may move upto target(shown in graph). Wedge pattern breakout done already. Descending channel breakout may happen upcoming days. Both pattern shows same target only. Vijayaraghavan, Kovilpatti

by Vijayaraghavan

bank of baroda looks bullish in short term In daily, price took support at descending channel support line, also it has filled the gap. sl - 135, tgt1 - 155, tgt2 - 165.

by ParamjitMahapatro

canara bank looks bullish in short term In daily, 1. price bounced from horizontal support 2. price bounced from descending channel 3. Also it has filled the gap. sl - 290, tgt1 - 328, tgt2 - 337

by ParamjitMahapatro

tata invest looks bullish in short to medium term in daily, price broke out descending channel with good volume, in weekly, hidden bullish divergence formed in weekly, with sl - 827, 1st tgt - 1000, 2nd tgt - 1200

by ParamjitMahapatro

#LICHSGFIN - Falling Channel LICHSGFIN is trading in a downward-sloping channel for the past six months. Today it has given short-term breakout above swing high of 577 which coincide with 50-day SMA. It has now resistance around 590-591 trendline zone. It needs to close above falling resistance trendline for trend reversal which will take stock towards 660-675 zone.

#INDIACEM - Downward-Sloping Channel INDIACEM is on the verge of breakout above falling channel on daily chart. It needs to sustain above 186-188 for confirmation of uptrend.

amara raja battery looks bearish in medium term In weekly, price broke horizontal support, then it bounced back to retest the broken support, which is acting as a resistance now. also price is at descending channel resistance. also double top pattern confirmed here, it can slide down to 670, 640, 560 levels.

by ParamjitMahapatro

Bearish Butterfly in a Bearish Flag Notes on the chart. "Wish you all a very happy and prosperous new year" Just trade safe and stay healthy. Regards Bravetotrade

by Bravetotrade

FLAG OR A DESCENDING CHANNEL It is sometime hard to interpret a chart pattern because of the complexity.I am 23 years old might be having only few years of experience in the field of research but i have been studying technical analysis since i was 18.Today i am going to share some basic knowledge that i have learned in level-1 of Chartered Market Technician(CMT). ''Now some traders or analyst must have seen some choppy and indecisive movement in the index for a couple of weeks.What is the reason and how to predict/forecast

by manavtechresearch

UBL: Potential For Upside Notes on the chart.

by Bravetotrade