Havells Stock: Triangle Pattern Breakout and Reversal from 0.786 Level

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Havells Stock: Triangle Pattern Breakout and Reversal from 0.786 Level Introduction: In the dynamic world of stock trading, patterns and technical indicators play a crucial role in identifying potential opportunities. One such pattern, the triangle pattern, has caught the attention of traders in the case of Havells stock. In this blog, we will delve into the significance of the triangle pattern breakout and its subsequent reversal from the 0.786 Fibonacci retracement level. Additionally, we will explore potential entry points based on trendline price action, as well as the Ichimoku Cloud indicator's Tenkan-Sen (TS) and Kijun-Sen (KS) lines. Triangle Pattern Breakout: The triangle pattern is a continuation pattern that typically indicates a pause in the prevailing trend before a resumption. It is characterized by a converging trendline, forming a triangle-like shape on the price chart. In the case of Havells stock, the breakout from the triangle pattern suggests a potential bullish ...
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RBI Withdraws ₹2000 Currency Notes: Opposition Parties Criticize PM Modi's Government


The Reserve Bank of India (RBI) recently announced the withdrawal of ₹2000 currency notes from circulation, six years after their introduction. However, the RBI clarified that these notes will continue to be legal tender. The public has been given time until September 30 to either deposit the notes in bank accounts or exchange them at banks.


The ₹2000 note was initially introduced in November 2016 to quickly meet the currency demand after the withdrawal of 500 and 1000 notes from circulation. While there is no specified limit for depositing 2000 notes in bank accounts, individuals will be allowed to exchange a maximum of ₹20,000 (10 notes of ₹2000) for other currency notes at a time.


This decision has resulted in opposition parties criticizing Prime Minister Modi and his government. Jairam Ramesh, a general secretary of the Congress party, referred to the withdrawal as a reversal of the earlier decision and criticized the initial introduction of ₹2000 notes. Sitaram Yechury, the general secretary of the CPI(M), accused Modi of causing significant damage through the demonetization in 2016, impacting livelihoods, the informal economy, and MSMEs.


The withdrawal of ₹2000 currency notes has reignited discussions surrounding the demonetization move of 2016 and its effects on black money, corruption, and the promotion of a digital economy. The opposition parties have seized this opportunity to voice their criticism of the government's actions and its impact on the economy and people's livelihoods.

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Havells Stock: Triangle Pattern Breakout and Reversal from 0.786 Level

Image
Havells Stock: Triangle Pattern Breakout and Reversal from 0.786 Level Introduction: In the dynamic world of stock trading, patterns and technical indicators play a crucial role in identifying potential opportunities. One such pattern, the triangle pattern, has caught the attention of traders in the case of Havells stock. In this blog, we will delve into the significance of the triangle pattern breakout and its subsequent reversal from the 0.786 Fibonacci retracement level. Additionally, we will explore potential entry points based on trendline price action, as well as the Ichimoku Cloud indicator's Tenkan-Sen (TS) and Kijun-Sen (KS) lines. Triangle Pattern Breakout: The triangle pattern is a continuation pattern that typically indicates a pause in the prevailing trend before a resumption. It is characterized by a converging trendline, forming a triangle-like shape on the price chart. In the case of Havells stock, the breakout from the triangle pattern suggests a potential bullish ...
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