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Inverted Hammer

Hindustan Unilever is showing signs of bearishness Hindustan Unilever is showing signs of bearishness Reasons/Traits : • Daily Trend far away from 20 EMA • Uptrend is in pause mode • Bearish Harami followed by two shooting stars/inverted hammer formed (Chances of going down) • Since 17 sessions stock did not retrace • Volume is decreasing • RSI and MACD in overbought zone • For a healthy uptrend retracement need to happen What can happen next : Scenario 1 : If we consider 6th Sep shooting star as retest then price going down below 2757 can take it down to 2660 and then 2600 levels Scenario 2 : Price going up can retest 2825 levels or up before going down to touch EMA 20 around 2655 levels (0.382 fib levels). If it sustains here trend will be up else trend can go down till 0.50 and 0.618 fib levels before going up and any failure here can lead to 1 and 1.237 levels of fib to complete the retracement cycle 2600 level is very crucial, Let’s see.. Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
NSE:HINDUNILVRShort
by AdhigamaTrading
1
#usdinr weekly inverted hammerThe USDINR currency pair charts weekly charts showing an inverted hammer formation at previous resistance zone close by trendline channel top shows the presence of bears and could be potential reversal signal that could possibly mean it is less likely for the currency pair to move to 76 levels and beyond. The dollar index may be facing resistance before 94.7. However the weekly momentum has climbed back to bull zones second time after the cover wave one where first attempt never sustained. The weekly trend is also is bull zones but the ADX strength bent is seen on short term daily charts that is saying that trend strength may be reducing coming days. With the US tapering that could come in soon dollar further strengthen is a threat for those trading short on this with any breakout from the current resistance zone would be ugly. USDINR options strangles can be played if it breaks and hit the next resistance of near 77 levels on November monthly contracts.
by seekedgetrade
9
Candle Stick Pattern : Inverted Hammer ] Inverted Hammer is a Bullish Pattern that indicates a reversal. This indicates that the price is falling for many days It is time to change its direction to go up. This pattern is formed on a daily time frame with a high volume which indicates Momentum. As price is on 200 days EMA which acts as a support. There is a high Probability of Stock going up. Risk to Reward is favorable for this Trade. We hope that Rites Industries is good for Swing Trade. -Mr.Financial_Literate
NSE:RITESLong
by Mr_Financial_Literate
NIFTY view for upcoming daysNifty started a new bullish trend during the first day of february which stopped at near 15450 levels and since then nifty has been following a falling channel pattern and has corrected almost 8%. Formation of an inverted hammer that too near the breakout point shows significant selling pressure i believe, if we break the low of this hammer which is 14420 levels, then we will be going to test the 14100 levels again the whole point here will be how market absorbs the covid situation and how investors react to all of the chaos around us. i think the perfect long opportunity for anyone should be when we cross the highs of this inverted hammer that is 15050 levels if we somehow cross the upper mark, we may get to see a retest of the all time high once again. but, covid showed what a news can do to the market. So dont force your idea or speculate blindly right now. let us all focus on what price is showing to all of us and also take sentiments into consideration.
NSE:NIFTY
by samparkamaity65
Cipla: Time to Book Some ProfitsWhat market doesn't like is high volume and it hates when it is immediately followed a clear sign of distribution. Its definite that smart money has taken advantage of the parabolic markup and they have started to sell at their favorite auction price. They trap the gullible retail trader at the top and drive the price down to the potential stop loss of the retail buyer and the process of accumulation and distribution repeats. The current surge in volume and price in this stock (after a 10% gap opening on 9th April 2020) can be considered as a full/partial profit taking opportunity rather than a buying opportunity at this point of time. Its better to wait for fresh buying in case of pullback. All the opinions are personal. Do like if it helps. Regards JJSingh
NSE:CIPLA
by Bravetotrade
6
Buy Morepen Laboratories - Long Term Positional CallI recommend to Buy Morepen Labs as a positional call for medium term. Charts of morepen labs shows that the stock is oversold in the market with unjustified pessimism. It's prime time to get into the morepen labs with targets of rs. 42.00 which can be seen within 12 months from now. It has created a Inverted Hammer Pattern which is a strong bullish reversal sign. While the fundamentals of the company are very strong as company has shown growth in bottom line. Strict stop loss must be placed at 18.00 If anyone interested in more such fundamental and technical calls please visit our website wp.me
NSE:MOREPENLABLong
by VivekAggarwal
HDFC Bank - Topped out ?After the seemingly never ending uptrend, looks like HDFC Bank NSE:HDFCBANK is facing resistance around 2220 levels. I can see that the stock got rejected at the trendline and also formed an Inverted hammer with Bearish Divergence. It may come down to 2000-2100 levels. Good opportunity to short here with a small stop loss. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:HDFCBANKShort
by nano6yogesh
8
Nifty Pharma – At a crucial levelLooks like we have a bottom in place for Pharma sector NSE:CNXPHARMA after the rally witnessed in Pharma stocks in the past few days. However, a small correction may be due if it is unable to cross 8650 levels, as it has stopped exactly around 61.8% retracement of the previous downmove and also formed an inverted hammer today. Tomorrow’s candle would be crucial as it may decide further move on either side (would take positions accordingly). Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:CNXPHARMA
by nano6yogesh
Do We Need To Be Cautious ?Hi, Since festive season is over here in North, I might spare some more time to write on TV. Let's begin with this post on Nifty. In my last post I tried to time the market in anticipation of a correction. Although market reacted for a few days from there, yet I can't call that a correction. Price-Time analysis has once again been hinting at something but this time let's not talk about time and talk about price action only. Few words of caution: First of all we are in the uncharted territory which is highly bullish. But that does not mean that we ll have a parabolic ride on the upside only. There will be corrections and consolidations. Secondly, we are at the upper end of the uptrend channel, in which markets have been gyrating for the past few years, which could be a concern. Thirdly, patterns similar to previous corrections have been observed near the upper end I just discussed. Fourthly, Jumping out of the channel takes us to an overbought zone which demands consolidation/correction. I am just saying it on price action basis not on any indicator basis but you can have it confirmed if u want to. So If history is to repeat, we might see correction. In this scenario 10400-10425 would be the level to watch out for. At present I ll not discuss levels below this point and would reassess once the market reaches that point. I might be wrong: I would be happy if markets correct but my heart ll go "gaga" if markets make new highs, because I have just reduced on my long positions I am not short yet. So let's say the current move has more legs on the upside. Here I would assume that markets have been trying to develop a new channel which has its upper boundaries outside the current channel. What should be the levels on the upside to book more profits? I ll look for 10800-10850 zone to book some more profits. 10930 would be an extended zone for major concern. If this level is achieved and we correct, 10530-10600 zone may offer a first level of support. I a nutshell , in the backdrop of the above cautious notes, I would like to book some profits at this stage and would use trailing stops on remaining positions. May we all make nice profits in this year too. Regards Bravetotrade
NSE:NIFTY
by Bravetotrade
2