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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...

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BAJAJFINSV formed a falling wedge chart pattern on daily chart. There were multiple support and resistance tested as shown on the chart. Moreover, notice the volume when price falls and on the breakout day. Notice the hammer candlestick formation at support, indicates buyer are out there to push the price high. There was a strong breakout candle formed with a wick...

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Symmetrical triangle formed on daily chart. Price broke out of resistance and successfully retested now support previous resistance line. Also noted low volume when price were falling with prior runup on price before formation of triangle chart pattern. Formation of hammer candlestick on bottom of support trendline indicates strong buying. Good short term...

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Beautiful triangle pattern formed on Avantifeed on weekly timeframe with multiple support and resistance tested. On the weekly breakout candle there were some selling during end of the week so signifies some profit booking and sell pressure. However for the last two months it has been consolidating forming a Flag pattern on daily chart. Price is currently trading...

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AngelOne formed a falling wedge pattern on daily chart. Strong bullish breakout with good volume on the day of breakout give higher probability for a good run. Stoploss just below the breakout candle would give 1:2 risk reward ratio. Moreover whenever price falls there was noticeable below average volume.

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LT appears to have formed a cup and handle pattern with bullish breakout. However there were some selling during end of the day. Though volume was above average, selling at the end of the day is a worry. Risk reward is around 1:1.7. Disclaimer: I am not a SEBI registered consultant. This is not a buying or selling recommendation. Please consult your financial...

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HINDCOPPER formed a falling wedge pattern with multiple test of support and resistance. Moreover there was good runup prior to chart pattern formation. Volume were relatively low when price were falling. However upon breakout there was strong volume. Currently resistance is being retested. Good opportunity for long trade with favorable risk reward. Disclaimer: I...