It is at a Bearish Harmonic Pattern AB=CD prz. A reversal from here could take it to 1750/1650 levels. Confirmation for that would come if it sustains below 1840 for an hour. In that case view would negate above 1880
In monthly time frame it has just entered into a Bullish AB=CD prz level. With a Bullish Gartley near 380. As per Ichimoku there is a monthly support near 370 which is sync with time axis. From a medium term prospective a bounce back for 500-550 is probable.
Weekly range 11300-11750. Narrower range 11375-11625. Looks more likely to be a range bound week than a trending week.
It has bearish Harmonic Pattern PRZ levels between 1320-1345 > AB=CD & Alt Shark at 1320 and Gartley at 1345. As per Ichimoku also it faces resistance in this zone. A pullback till 1250 is probable. View negates above 1360
Nifty now at a Bearish harmonic AB=CD, for further upside it needs to sustain above 11200 else some profit taking of this whirlpool swing is coming! Also near a thick Kumo resistance. Take it easy till not sustained above 11200 for fresh upside. Enjoy the burst move, take a chill, enjoy the weekend.
Nifty is trading near daily support of 10925. If it fails to hold 10850 (closing basis) then next major support comes in close to 10400. Above 11000 we can expect short covering / rally till 11125/11250 with major resistance at 11350.
It is doing a retracement of the current rally and could test Daily Kijun near 1200. View would negate if it moves above 1275
Slanting Channel set-up. It appears to be near a strong resistance now between 1620-1625. Expecting a pullback till 1575 and then 1525. View would go wrong if it sustains above 1645
In both daily & weekly time frames it has breached through support of 2060-2090. Going forward until price does not sustain above those levels it could further slide down towards 1925-1900, where it also has a Bullish Harmonic AB=CD PRZ. HDFC has a lot of weight in the Nifty index and has now started showing signs of a correction like other stocks
Note : We Never Use Any Default Setting if Indicator..... Dont Use Default Settings Ichimoku (9,26,52) & RSI 14 Why We Use Kinjusen in All Our Trading Analysis - We Use Mostly RSI & KINJUSEN Reasons:: Why KijunSen Is Superior to the Moving Average" Let’s begin with the formula, since Kijun Sen measures the past Our Given periods: Kijun Sen = (Highest High...