Torrent Pharma - Symmetrical Triangle formation on Daily Chart

Symmetrical Triangle Formation on Daily Chart and before breakout

Book pattern shows 5 Leg Symmetrical Triangle Pattern after Breakout.

Torrent Pharma Shows 7 Leg Symmetrical Triangle Pattern (Variation of Flag Pattern) before breakout.

7th leg will expected to breakout UP

It is tradable pattern with Strict Stop.

Stop Loss Can be placed lower range of Pattern which is near 2225 & Current Market Price is 2363

1st Pattern Target will be the higher range of pattern 2699 (2.5 RR)

2nd Target will be the Height of the Pole 3300 (7 RR)

Happy Investing 

Yogi

ALERT - Current Market Buying Shift to Defensive Sector and Safe Large cap Stocks

Hello,

While analyzing my momentum stocks universe, i observed that where was shift in momentum?

Till now momentum was highest to Chemical, Financial Sector & Mid cap & Small Cap Stocks.

But since 2-3 days, there was change observed in momentum. Hence feel that to alert to my blog viewer.

Since this is very early stage of shift found... we need to keep observed some more days to confirm.

17 Feb - Current Market trend can be analysed with this tables

07 Feb - Dashboard of Stock & Market Trend

* Defensive Sector (Healthcare, FMCG & Technology) are came to top list....and in this sector Large cap stocks took the lead

* Chemical Sector allocation is still on the lead but its participant stocks counts got reduced

* It clearly shows that Market buying is shifting from Volatile sector, Aggressive segment(small cap) to Defensive sector and Safe Category Large cap

* It is an indication of short  term trends might get changed towards negative, Hence, Suggested to Stay Light or shift to Large cap & Defensive sector to protect the capital


Also Technically, Nifty is already broken minor lower low levels of uptrend. if now Nifty unable to make new higher high then it would be the first lower high and further downfall will confirm the changed trend from uptrend to downtrend.

So requested everyone take a note of it and stay light and stay with safe defensive.

Happy Investing!!!

Thanks,
Yogi