acesending triangle you can see my technical analysis. I am a beginner and have started the stock market from last week. you can give advice on improving my skills in stock market.
KANSAINER trade ideas
KANSAI NEROLAC POSSIBLE LONG TERM BREAKOUT 1000KANSAI NEROLAC cmp @ 525-530
SHORT TERM STOP @ 490
SHORT TERM TGT @ 580-600+
LONG TERM TGTS @ 940-1000+
SUPPORT OR STOP FOR LONG TERM @ 350 BELOW CLOSE
Buy Nerolac Paints with Target of 591Buy KANSAINER @ current market price - 545 with target of 591. Target will be met before Jan 2019.
Kansainer - High Risk Potential Symmetrical Triangle PatternKansainer seems to be forming a Symmetrical Triangle Pattern. A decisive break above 470 could confirm the breakout to targets at 530/600. Negated below 410
Nerolac, Reverse Head And Shoulder Complete With Probability of Stock can go in both direction, the advanced charts patterns will capture the move and will give the retraced targets, entry can be done on completion of the cypher pattern's D point for normal targets of 50-61% retracement from D. Extended target of 127% from left shoulder (Of H&S) and Previous Structure High repectively
Kansai Nerolac_short ideaBreakdown from the channel (with volume confirmation) , indicating more downfall;Sell:395, Target: 295, SL: 445
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
Wait and watch zone for Kansai NerolacAs can be seen the price is in the support zone of the cloud, weaker than the broader market Nifty. However if you see the historic price move the stock has compounded wealth. As a result you may get attracted to add at this level. However it could be a trap for retail to get sucked in. Please wait and watch for next couple of week to see from where the price exits the cloud.
Kansai NerolacThe stock has formed a big red candle taking a support at 75D EMA which is also it mid term personality and a reversal can be expected. There's also a weekly demand zone in the range 500-510.
