Chart patterns

[Tharu]

Please do post your observations with charts on NIFTY as well
Thanks

Nifty weekly chart shows symmetrical triangle with a breakout and pullback to the trendline and a take off from there...
Further to add up, Forming a flag pattern both on weekly and daily charts... On profit booking or pull back, we may find support with the flag pattern..

 

[Tharu]

Axis Bank looking a little weak for fresh entries..

It was moving in a channel which it broke on the downside and with the trend change in Nifty, it picked up its pace on the upside.. Now again, it looks like going into the last formed channel again... It may also face some resistance in the downtrend line... To add, stochastics has gives a slight negative divergence.. And the delivery taken on long side has drastically been reduced..

 

[Tharu]

DLF formed a shooting star (or more or less a doji) in weekly..

But there has been a positive divergence... It formed a bearish engulfing candle today when there was more space for it to go up....! Fresh shorts are made today..

 

[Tharu]

Hindalco showing quite some positive divergence in weekly charts...

Metals performed slightly better till the end today..

 

[anil_s_trivedi]

Axis Bank looking a little weak for fresh entries..

It was moving in a channel which it broke on the downside and with the trend change in Nifty, it picked up its pace on the upside.. Now again, it looks like going into the last formed channel again... It may also face some resistance in the downtrend line... To add, stochastics has gives a slight negative divergence.. And the delivery taken on long side has drastically been reduced..

@Tharu,

good chart, axis bank is also sitting at crucial juncture on long term chart, with long term trendline rising, its a crucial zone coming in
Why i am replying is, as per my analysis on it, the weakness we all seeing on is a daily one, where long tail candles are appearing and stock refraining to hold that 1150 level.
But regarding negative divergence i am yet to see one..so i defer on it..yes daily bar showing weakness but it didnt close even below that 26th sept daily bar's close.so its just a consolidation..and we need to see one more highabove recent prev weeks high to comment on it..

let see it will be a good trade,also the long term trendline rising will be a good testable zone if at all it corrects, where its future course of action will be decidable...

 

[Tharu]

Is that a gravestone doji in IDFC weekly chart..???!!!!!$$@@##$$

To add up, Recent candle not touching 3 ema...

 

[Tharu]

BHEL giving some negative divergence in weekly chart..

But on daily charts, it looks like consolidation.. If not a short, definitely not a buy ard these levels i hope..

 

[prabhsingh]

What are your views for HDIL?Lot of upside has already happened for this stock.However,last week Friday there was some downside.Is it time to go for short?

 

[Tharu]

What are your views for HDIL?Lot of upside has already happened for this stock.However,last week Friday there was some downside.Is it time to go for short?

HDIL moves were fast.. There should be some kinda profit taking ard 100.. Daily chart showing a channel formation and a breakout on the upside with very good volumes.. And the last candle was bearish engulfing.. Possible downside could be 92 i guess...

Also, Stochastic is showing some negative divergence in weekly.. And real estate sector was showing some kinda pressure on friday.. There were some fresh shorts made both in hdil and dlf (i dont track the rest)...
Good to trade for a day or two on the short side..

P.S : Am a very amateur... Still learning..

 

[Tharu]

BPCL moving inside a rectangle with SOME negative divergence.. Wish it gives a breakout or breakdown soon :annoyed: