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Altshark

BOSCH, SAMVARDHNA MOTHERSON & SONA BLWHello & welcome to this analysis Auto ancillary stocks at strong support levels suggesting a bounce/reversal from current levels with them forming Bullish Harmonic Patterns in weekly time frame BOSCH - Alt Shark MOTHERSON - Alt Shark SONACOM - Cypher Today's candle were very strong, one can look to add on follow through confirmation or on pullback, the risk reward appears decent at current levels. In the video I have suggested possible levels of resistance on upside along with negation levels on the downside for each case. All the best
NSE:SONACOMSLong
by Dinesh_C_Nagpal
3
NiftyHello & welcome to this analysis The index which attempted a bounce on Tuesday failed to breach above 23250, today it is again witnessing selling pressure. A bullish Harmonic Alt Shark could pause/stop this decline near 22675 which is the lower trendline of a falling channel apart from it being the monthly Ichimoku support area. Further decline could take it to 22400 where it has a Bullish Harmonic Gartley. Short covering as of now is appears to be only above 23175 The risk reward going forward still remains in favour of short side trades
NSE:NIFTYShort
by Dinesh_C_Nagpal
NIFTYHello & welcome to this analysis Nifty in the hourly time frame has activated a Bearish Harmonic Alt Shark with the sharp drop since opening bell today. Now its gone onto make a Bullish Harmonic Reciprocal ABCD, however, since the drop was very sharp and its yet to do 38% of its minimum expected retracement, a confirmation for this bullish reversal will be once it starts sustaining above 22475. Failure to hold today's low so far opens for the 38-50-62% retracement levels
NSE:NIFTY
by Dinesh_C_Nagpal
1
CANARA BANKHello and welcome to this analysis Like all PSU Banks saw a very good 2021 in terms of price performance thereafter in 2022 it went into a correction mode in line with market trend. The structure of the fall as can be seen in the chart is of a slanting channel currently. If it manages to break above 235 then 244 is the 1st line of resistance, above that 255 is where it has not one (Bearish ABCD) but two (Bearish Alt Shark) have a PRZ. The trend might see a pullback/consolidation there. Once it manages to break that resistance then above 295 it has a doubler breakout target waiting in the weekly time frame. On the other hand, if it respects the slanting channel resistance then breaking below 219 it could retest 210-190-170 Invest wisely!
NSE:CANBK
by Dinesh_C_Nagpal
NiftyNifty is attempting a reversal from a Bullish Harmonic Alt Shark in hourly time frame which coincides with an Ichimoku Kumo support in daily time frame. If it manages to sustain above 11100 it could retrace back to 11275/11350. There is strong resistance now at 11425. Break of 11050 on closing basis will lead to further weakness/selling pressure. Harmonic Trading Patterns are studies of specific patterns based on fixed Fibonacci ratios. They give reversal signals when there a cluster of ratios come in alignment. Ichimoku is a Japanese study based on specific Moving Averages
NSE:NIFTYEducation
by Dinesh_C_Nagpal
NIFTYYesterday's Hourly Bearish Alt Shark did its min expected retracement of 38% till 8700 approx. Currently the set up suggests 9600 approx where three Bearish Harmonic Patterns are emerging. It also happens to be the 50% retracement of the Monthly Alt Shark reversal. Even as per Ichimoku the same zone 9600-9800 will act like a tough resistance. Markets seldom give an opportunity for trapped ones to exit particularly in a downtrend. It appears to be in a philanthropic mood this time!
NSE:NIFTYEducation
by Dinesh_C_Nagpal
4