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DCMSHRIRAM Breaks Key Resistance Level with High Volume 🔍 Overview 🔍 DCMSHRIRAM, has been facing strong resistance at the 910-920 level since November 2022. Interestingly, the 910 level has been acting as both support and resistance since June 2021. Today, we witnessed a breakthrough of the 910-920 level with a significant surge in volume. This breakout occurred on the weekly and daily charts, making it a crucial development to consider. 📊 Technical Analysis 📈 Plan buy trade near closing of market if breakout sustains above resistance DCMSHRIRAM has been consolidating within the 910-920 range for several months, indicating a period of indecision and lack of clear direction in the stock's price movement. The 910 level has proved to be a significant support and resistance zone in the past, highlighting its importance in determining the stock's future trajectory. Today, we observed a breakout above the 910-920 range with an extraordinary surge in volume, suggesting strong buying interest and a potential shift in market sentiment. The breakout on both the weekly and daily charts strengthens the bullish case for DCMSHRIRAM, as it indicates a potential trend reversal and the beginning of a new upward movement. 📊 Technical Terms 📈 Before delving further into the analysis, let's clarify some technical terms for those new to trading: 1. Resistance Level: A price level at which selling pressure is historically strong, causing the stock's price to struggle to rise above it. 2. Support Level: A price level at which buying interest is historically strong, preventing the stock's price from falling below it. 3. Breakout: The movement of a stock's price above a significant resistance level or below a significant support level, indicating a potential change in the stock's trend. 4. Volume: The number of shares or contracts traded in a security or market during a given period. High volume often indicates increased market activity and can confirm the strength of a price move. 👍📝 Like, Comment, and Follow 👍📝 If you found this analysis helpful, don't forget to give it a thumbs up! Feel free to share your observations in the comments section below. Your feedback and engagement are highly appreciated as they keep me motivated to consistently provide educational content. Thank you for your support, likes, follows, and comments. It means a lot to me! If you want to stay updated with more articles and trade setups, make sure to follow me on TradingView: in.tradingview.com 💪🚀 Trading is not just about making money; it's a journey of self-discovery and personal growth. Embrace the challenges and keep pushing forward! 💪🚀 Remember, this analysis is for educational purposes only, and I am not a SEBI registered analyst. Always conduct thorough research and consult with a certified professional before making any investment decisions. Happy trading!
NSE:DCMSHRIRAMLong
by AfnanTAjuddin
3
{ZYDUS}:{DETAILED ANALYSIS USING ELLIOT WAVE NOMENCLATURE} Wave 1 is complete, Here the Wave 1 is a Leading Diagonal which tells us the Wave 3 will be way stronger than what we come accross generally; Wave 2 has retraced Wave 1 by 61.80% which is a Golden Ratio and Fibonacci goes perfectly with the Waves logic, Now Wave 3 is forming According to the Fibo Ext tool we have the 1.618 Golden Level giving us the Target for ZYDUS on the Long Run. This Analysis is done in the Higher Timeframes so consider the time accordingly only,
NSE:ZYDUSLIFE
by WavesandZones
2
ASHOK LEYLAND BULLISH CUP & HANDLE BREAKOUT | 1:2.5 RR | SWINGAs Nifty is trading above its resistance area, it looks like the growth is being pushed by AUTO and FMCG Sector. AUTO Sector has recently broken out of its resistance area and it seems it will continue to go higher in upcoming weeks. Checking out AUTO STOCKS, Ashok Leyland looks a good pick. The price has broken out of its resistance area and is trading above Daily 200 EMA. Also, the price has broken out a Cup and Handle Pattern, which is a bullish pattern. Entry- 147.5 TARGETS 1- 154 2-160 STOP LOSS For aggressive traders- 144 For conservative traders- 142 This is a SWING TRADE Let me know in the comments section if you want me to analyse any other financial instrument. WARNING:- ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
NSE:ASHOKLEYLong
by rohitkukreja
3
Dish TV - 34% Growth Expected In Coming Few DaysThe Price action is forming an Inverse Head And Shoulder with neckline of 16.5. Price is already above 200 Daily Moving Average. Media Sector may breakout soon which can push the prices of DISH TV higher. Once the daily candle closes above, a Long can be initiated Stop Loss- Below the lows of breakout candle with some buffer Targets- 1. 19 2. 22.3 Place stop loss to entry once target 1 is achieved. Always follow Risk Management and Position Sizing.
NSE:DISHTVLong
by rohitkukreja
Hindustan Copper- Bullish | 25% growth expectedThe price was consolidating in an Inverse head and shoulder pattern near the daily support areas. The price broke out of the neckline, which is the first sign of bullishness. After the breakout on 2/5/23, the next day price even retested the neckline which confirms the pattern breakout. On 4/5 price advanced further and now facing resistance near 108 horizontal resistance and 200dma. Once daily closes above 200dma and 108.5-109 horizontal resistance, go long. Stop Loss- Below the lows of breakout candle with some buffer. Targets 1. 121 2. 131 Remember to keep trailing your stop loss and move stop loss to entry once Target 1 is achieved. Also, do follow Risk management and Position Sizing.
NSE:HINDCOPPERLong
by rohitkukreja
1