A double top pattern is one of most simple and reliable pattern in technical analysis. There is a high probability that a trader will predict correct move most of the time. This pattern is very easy to recognize and taking positions is quite simple. You can apply this to any time frame chart may it be weekly, daily or any intraday time frame chart. Have a look at the below image. How to trade ... [Continue Reading]
Technical Analysis: Ascending triangle pattern formed in Idea Cellular
Idea cellular is one of our technical analysis pick today, we see a ascending triangle pattern on weekly chart. If I tell you this pattern is a bi-directional pattern so breakout in such patterns can happen in either side. So we are not certain about the trade that a trader must be taking. In such situations we should keep patience and wait for the breakout first, but as markets are extremely ... [Continue Reading]
Technical Analysis: JP Associates tests trend line support
JP Associates on the daily chart is on the perfect uptrend and as the trend is up we only focus on buying it on every declines. Last 2 trading session has been interesting for the stock as we have seen stock is near to the trend line support and also just near the previous resistance which is now a support for stock. We believe fresh long positions can be initiated from the current level of 95.5 ... [Continue Reading]
Technical Analysis: Grasim shows sign of upmove, Buy now
Grasim's daily chart shows the trend in stock is up, hence trading in the direction of the trend we will be looking for buying opportunity in this stock. As we give closer look to the daily chart we see a bullish divergence forming on slow stochastic indicator. Daily chart of GRASIM: Traders can take long position on Grasim in range of 3170 - 3230 for target of 3500 in short term. While ... [Continue Reading]
TCS trade setup for short term, Technical analysis suggests Strong buy
Yesterday while I was resolving a query for one of my client I have landed into the TCS chart; I found that stock is ready for its next up move. So taking the positions in the direction of the trend I will be looking for buying opportunities, as long as the trend remains up. Moreover stock is trading at 100 EMA and trend line is support here, also Fibonacci retracement level 61.8% level is ... [Continue Reading]
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