This analysis is purely based on price action and chart pattern.
Analysis is done on daily TF hence it may take several days to couple of weeks to reach its target. Traders can also take advantage of this analysis in intraday trades.
Analysis & Strategy along with logic is explained in image itself. Entry can be made above the high of today's candle or entry with 50-50% qty and wait for small pullback. SL and targets are mentioned in image itself.
Always plan your trade & trade your plan
Keep trailing SL accordingly once entered into the trade.
This analysis is purely for education purpose. Kindly do your own study before entering into any trade .
Refer below images for understanding how similar patterns works in different Time frames.
(1) NIFTY BANK (index) - 18 December - 01 Min TF
Check the charts how it went afterward
(2) BAJAJ FINSERVE (Daily TF till 06th Nov)
Check how it performed after breakout.
(3) - BAJAJ HOLDING - here also you may find similar recovery pattern.
Analysis of this share is linked below
The purpose of comparing such charts is to make beginners understand how similar chart patterns are formed in different time frames and how history repeats itself (core of technical analysis)
Feel Free to comment for any suggestion or query about chart study / price action analysis.
Analysis is done on daily TF hence it may take several days to couple of weeks to reach its target. Traders can also take advantage of this analysis in intraday trades.
Analysis & Strategy along with logic is explained in image itself. Entry can be made above the high of today's candle or entry with 50-50% qty and wait for small pullback. SL and targets are mentioned in image itself.
Always plan your trade & trade your plan
Keep trailing SL accordingly once entered into the trade.
This analysis is purely for education purpose. Kindly do your own study before entering into any trade .
Refer below images for understanding how similar patterns works in different Time frames.
(1) NIFTY BANK (index) - 18 December - 01 Min TF
(2) BAJAJ FINSERVE (Daily TF till 06th Nov)
(3) - BAJAJ HOLDING - here also you may find similar recovery pattern.
Analysis of this share is linked below
The purpose of comparing such charts is to make beginners understand how similar chart patterns are formed in different time frames and how history repeats itself (core of technical analysis)
Feel Free to comment for any suggestion or query about chart study / price action analysis.
