WABAG trade ideas
VA Tech Wabag Ltd view for Intraday 15th October #WABAG VA Tech Wabag Ltd view for Intraday 15th October #WABAG
Resistance 1680. Watching above 1683 for upside movement...
Support area 1650. Below ignoring upside momentum for intraday
Support 1650..Watching below 1649 for downside movement...
Resistance area 1680....
Above ignoring downside move for intraday
Charts for Educational purposes only.
Please follow strict stop loss and risk reward if you follow the level.
Thanks,
V Trade Point
wabagHere's a detailed explanation of the chart with added emojis:
1. **Breakout Level**:
📊 **Breakout Level** (marked in yellow) represents a key **resistance** point around ₹1,421.90.
- 📉 In the past, the stock price repeatedly tried to cross this level but was pushed back down each time, showing that sellers were strong at this point.
- 🚀 **Breakout** occurs when the stock **closes above this resistance** with strong momentum, which often signals the start of a bullish trend. This is a key level traders watch to determine if a stock is ready to rise further.
- 📏 The resistance level is like a ceiling the price couldn't break before, but once it does with strong conviction, the price may start moving upwards faster.
2. **Up Arrows** (📈) at Support Points:
🔼 These arrows mark where the stock finds **support** from the market.
- 🔍 Each time the price touches the **ascending trendline** (the purple diagonal line), it bounces upward, showing that buyers are stepping in at higher levels. This signals that investors are confident in the stock and willing to pay more each time the price drops to this line.
- 💪 This forms an **upward trend** over time. The higher lows indicate that the stock is gaining strength as demand continues to increase. The price bouncing off this trendline multiple times adds to the idea that the stock is forming a **bullish pattern**.
3. **Down Arrows** (📉) at Resistance Points:
🔽 These arrows highlight moments where the stock price hits a **resistance point** (the yellow line) and can't move higher.
- 🔄 The stock was **rejected** at this level several times in the past, creating a **consolidation phase** between the trendline and resistance. This pattern shows indecision in the market—buyers are willing to step in at lower levels, but sellers are still in control near the resistance.
- This series of price rejections emphasizes how hard it was for the stock to **break above** the ₹1,421.90 level before, making the eventual breakout even more significant.
4. **Hammer Candle** (🔨):
🔨 **Hammer Candle** forms just before the breakout, signaling a **potential trend reversal** from bearish to bullish.
- 📉 Initially, the price falls, but buyers step in strongly by the end of the session, pushing the price back up to near where it opened. This creates a hammer shape: a small body with a long lower wick.
- 🛑 Hammer candles typically appear at the bottom of a **downtrend** and indicate that the sellers' momentum is weakening. The long lower shadow shows that buyers stepped in aggressively, preventing the price from falling further.
- 📈 This hammer formed near the support line (purple trendline) is a powerful bullish signal that suggests the market is preparing for a **reversal**. Traders often see this as a sign that a new **uptrend** is starting.
5. **Bullish Candle** (📊):
🟩 The large **bullish candle** following the hammer is a classic sign of a **breakout**.
- 🚀 The stock has broken above its previous resistance level of ₹1,421.90 and closed significantly higher at ₹1,518.70.
- 📈 The strong green candle indicates that there is a surge in buying interest, and the bulls are now in control. This large movement up suggests that many traders are entering the market at once, fueling the price rise.
- 🔥 This is often considered a **breakout confirmation**, especially when the price closes well above the resistance level. It is a clear sign of upward momentum.
6. **Volume Spike** (📊🔊):
🔊 The **volume spike** shown in the green bar at the bottom represents a huge increase in **trading volume**.
- 📈 Volume is crucial in confirming the breakout. A breakout without volume might be a false signal, but when volume surges (like it does here), it shows that a significant number of participants are involved in the move.
- 🏦 **High volume** means many traders and investors are buying into this move, which suggests that the breakout is likely to continue with strength.
### Summary:
📊 The stock was consolidating between an **ascending trendline** (purple line) and **resistance level** (yellow line).
🔨 The hammer candle signaled a **reversal** was coming, and the breakout was confirmed by a large **bullish candle** supported by a **volume surge**.
🚀 The stock is now in a strong **bullish phase**, with potential for further upward momentum after breaking past its key resistance level.
The combination of the breakout, hammer candle, volume increase, and bullish price action suggests a positive outlook for this stock.
no reommendation for buy and sell
WABAGCMP : 285.50
LOOKING ATTRACTIVE TO ME... IT IS ON THE VERGE OF MULTI YEAR TRENDLINE BREAKOUT...SUSTAINABLE BREAKOUT MAY GIVE GOOD UPWARD MOVEMENT IN COMMING DAYS.
I m not sebi regt analyst or advisor.
Post is only for an educational purpose.
Do ur own diligence or check with ur financial advisor before taking any position.
U may suffer big loss also.
WABAG - LOOKS STRONGThe stock is holding well in recent sell off. The Weekly chart is trading above short term and long term moving averages.
Positional Pick from 12 months perspective:-
Current Price: 336 (Add more on dips)
Target 1: 430 (30%)
Target 2: 580 (75%)
Stoploss: 290 on Weekly closing basis
WABAG - Cup with handle BO NSE:WABAG
As seen on the chart, Va Tech Wabag Ltd has formed a nice U-shaped Cup, and the volume was low when it was forming the handle and the breakout was with a good volume.
There is a high probability that this pattern will be successful.
Disc - invested, for educational purposes only
Another similar setup was with Finolex Cables
Swing Trade Hold in 3-4 DaysRising Wedge Breakout in VA TECH WABAG
Book profits within the first 30 minutes of the market opening
- Try to exit by taking 5% profit of each trade
- SL can be taken when the 5/15 min candle closes below 44EMA
Now, why do I prefer swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 3-4 days and the rest of the time they either consolidate or fall
CMP- 387
Target Price 410
Note:- I am not SEBI Registered This Trade is only educational Purpose
Wabag tech Below 200d EMA but Crossing 26d EMA by 13d EMAThis is just personal observation and not any suggestion for investment.
WABAG Tech share is under 200d EMA so its not worth to buy but as per back testing of 13d & 26d moving average and basis of that short term target is 300 to 325 within a month.
On Daily chart is showing that its making CUP pattern in long term view which around 6 to 8 months.
