In the year of the Rat, the Chinese at Wuhan decided to opt for the Bat and that lead to USD INR giving way to the Dragon! :) =)) :))
As per this weekly chart we can see how beautifully each time the stock has respected Harmonic Patterns and shown reversals. From a Bearish AB=CD to a Bullish AB=CD, followed by a Bearish Deep Crab and now a Bullish Deep Crab along with a Bullish AB=CD. If it can hold 1285 then a retest of 1400-1450 looks probable.
OBSERVE KEENLY..... DON'T RUSH.... LONG ABOVE 841.2 FOR TGTS OF 5-10-15 POINTS. AND SHORT BELOW 830 FOR TGTS OF 5-9-12-15 POINTS...
If NIFTY supports MEGHMANI ORGANICS may break triangle upside and if it sustains above 200DMA, we can go for long. 200DMA slope is also upwards. had a good opportunity for specialty chemicals, however Dec-19 results shows decreased revenue and profit. FII decreased stake. PE is attractive at 4 PB is attractive at 1.1 looks like valuations are attractive. check...
Reliance and also NIfty charts showing clear monthly negative divergance.. Reliance has been taking support at the 20 monthly moving avg the last 2 dips.. hoping to see a bounce here. Resistance levels are shown in blue dotted lines.
Nifty Analysis - Details are described on monthly chart
ABOVE 400.90 MAY OFFER 5-10-14 POINTS AS TGTS.. GO TO BE FAST WITHOUT GETTING GREEDY... INTRADAY...ONLY. AND BELOW 390 MIGHT TURN BEARISH FOR TGTS 5-10-13 POINTS.. WATCH OUT.
NO MATTER HOW BAD THE NEWS IS YOUR KNOWLEDGE WONT LET YOU LOSE MONEY
NIFTY on the weekly charts,, has cracked down to the cloud support zone and also the trednline connecting the previous lows.. might get a temporary relief here.. if the trendline breaks expecting a deeper crack..