Chart Pattern Analysis
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Symmetrical triangles that descend are typically not regarded as favorable indicators for market reversals. However, in this instance, it defied conventional wisdom. Previous blog article: link Read more
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#Sharekhan is bullish on PI Industries (#PIIND) @ 3684 has recommended buy rating on the stock with a target price of Rs 4500 in its research report dated November 09, 2023. Chart pattern has a lot more potential than mentioned. Stock prices are forming rising wedge pattern on monthly chart so price movement will be… Read more
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Burnpur Cement is currently showcasing a cup-with-handle pattern. Upon closer inspection, one can notice a significant accumulation of volumes near the handle, adding an intriguing dimension to the situation. The second stock, Kinetic Eng, has been navigating a substantial trading range of 200 points since 2005. It is exhibiting signs of strength around breakout levels,… Read more
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Jain Irrigation is currently in a consolidation phase at the apex of an 80-week-long declining channel. This level is expected to serve as a robust support zone, preventing further declines in stock prices. Additional bullish momentum is anticipated once the stock surpasses the 70 price level, leading to a breakout from the consolidation. It’s crucial… Read more
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The mentioned broadening wedge pattern in the price chart of NESCO suggests a potential continuation of the upward trend, as such patterns are often considered bullish. Investors and analysts may interpret this as a positive signal for the company’s future performance. The reported consolidated quarterly (Q2) numbers for NESCO in September 2023 indicate positive growth… Read more