Chart patterns

[Tharu]

With big events happening in market, observed few chart patterns in daily and weekly charts.. I will post my observations here..
Am a very beginner... Opened a demat account before 6 months.. Learning TA from TJ for the past 4 months sincerely and seriously.. Still bad at making entries and exits.. Opened a new thread coz i didnt want to use so much space in someone else's thread.. Also wanted to keep track of myself.. I may be very wrong.. So need help from seniors to validate the patterns and correct if am wrong..

 

[Tharu]

SBI weekly chart

A descending triangle with a breakout on the upside..

SBI daily chart

Sbi daily chart shows a rectangle pattern...

I would buy half in any dip this week and add another half after it gives a breakout of the rectangle pattern...

PS : Seniors, correct me if am wrong..

 

[Tharu]

Looks like Broadening bottom in DLF in a primary downtrend..

 

[Tharu]

Reliance Infra showing Descending triangle with a breakout in weekly chart

RELINFRA showing a channel in daily chart

A buy in every dip..??

 

[Tharu]

Sterlite weekly chart showing again a Descending triangle pattern awaiting a breakout..

Sterlite daily chart showing Double bottom like the same it formed ard Jan..

A buy now and add after the breakout in weekly..?

 

[Tharu]

Asian Paints showing a hanging man in weekly chart with a negative divergence in Stochastic, MACD and RSI..

Time to short..?? Or atleast a time to book profit if holding for short term..?

 

[manojborle]

SBI weekly chart

A descending triangle with a breakout on the upside..

SBI daily chart

Sbi daily chart shows a rectangle pattern...

I would buy half in any dip this week and add another half after it gives a breakout of the rectangle pattern...

PS : Seniors, correct me if am wrong..

How can you decide for sure that there will be a breakout ?
It can be considered as resistance and it may come down at the bottom of the range.
so will be it be wise to buy before actual breakout on just hoping that it will breakout the rectangle pattern on upside ?

 

[Tharu]

How can you decide for sure that there will be a breakout ?
It can be considered as resistance and it may come down at the bottom of the range.
so will be it be wise to buy before actual breakout on just hoping that it will breakout the rectangle pattern on upside ?

Considering the breakout on weekly chart, am buying wen it actually dips.. Just read a thread abt trendline retest here in TJ.. Unless it breaks 2110 (which would mean that it is disrupting the descending triangle pattern) on the downside on closing basis this week, i believe that it will bounce back as nifty is in an uptrend.. And to add more, i would consider breakout in daily chart...

 

[Tharu]

Most of the Nifty stocks are showing bullish breakout of their patterns in weekly charts..
Nse midcap broke out of the descending triangle in daily chart where as in weekly chart, it is showing a breakout of the symmetrical triangle..

 

[a1b1trader]

With big events happening in market, observed few chart patterns in daily and weekly charts.. I will post my observations here..
Am a very beginner... Opened a demat account before 6 months.. Learning TA from TJ for the past 4 months sincerely and seriously.. Still bad at making entries and exits.. Opened a new thread coz i didnt want to use so much space in someone else's thread.. Also wanted to keep track of myself.. I may be very wrong.. So need help from seniors to validate the patterns and correct if am wrong..

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