We can see a inverted Pole-Flag pattern on NIFTY daily chart.
breakup at 2454 will give rally upto 2500, it has been trying in the last few sessions to close above 2450. if it sustains then that momentum will take it new 52W High.
Analysis based on Support and Resistance Strategies.
if ABBOTINDIA opens gap up it is will rally to previous highs. if it closes below 16349 on daily chart. it will fall further. more over pole flag pattern also seen on daily chart.
The analysis takes into consideration short term price changes as it measure ( a mathematical formula , uses deviation and calculates z-score or price deviation ). Green area shows the price trend is upward, red show price is down ward and blue shows possible reversal
POSITIONAL LONG RANGE 14.50 TO 10 SUPPORT 8 (weekly closing basis) UP-SIDE 150 170....
Last week candle was not able to sustain above its supply zone @ 21150-21800. Even it failed to close in this supply zone. On the downside, there is a demand zone @ 19500-19650 and weekly close is above this zone. In any case, weekly close below 19500-19650 another 1500-2000 points downside range will open.
Weekly Close Above 100 then will start again uptrend and now this time we will see 280....
Will History repeat itself unfolded in the Past of DJI in 1929 ( Like wise same patterns are reflected in Nifty which happens in DJI in 1929 _) 1) Climax which shows the starting of Wedge pattern 2) Rising wedge Pattern which happens same in DJI in 1929 3 ) very near to climax of the Wedge pattern 4) Now Down ward will start like which happens same in Nifty...
Will History repeat itself unfolded in the Past of DJI in 1929 ( Like wise same patterns are reflected in DJI which happens in DJI in 1929 _) 1) Climax which shows the starting of Wedge pattern 2) Rising wedge Pattern which happens same in DJI in 1929 3 ) very near to climax of the Wedge pattern 4) Now Down ward will start like which happens same in Nifty...
NIFTY Look like immediate down to 8960 and pull back to 9450 .
This month candle is facing resistance @ its major supply zone @ 9275-9460. On the downside, there is a wide range of demand zones @ 7750-8460. Below 7750-8460 there is a major demand zone @ 6550-6850. I am not expecting this month's Nifty closing above 9460.
Buy around 2800-2900 TGT 3000,3050,3080 , 3200
Wn we will cls abv 160 thn start (A) Now strong spt 114 closing basis If we will cls blw 114 thn will again changes frm (D)
SUNPHARMA.. on the monthly charts has formed strong candle (thought one more week to go) with high volumes. April 2020 candle engulfs last 16 months candle which is highly bullish it is still to cross its resistance trnedline on log chart as shown considering the reversal this month and its fall from life highs, looks like long term correction is over and looking...