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
Altshark
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
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
S&P 500Hello & welcome to this analysis
The index saw a super duper reversal from a Bullish Harmonic Bat in end October near 4100.
Now it has an immediate resistance coming up near 4600 where we might see some consolidation, above that it enters into the PRZ of a Bearish Harmonic Alt Shark near 4650 which could trigger some profit booking.
From 1 harmonic pattern (bullish) to another harmonic pattern (bearish)
Safe trading
Mahindra & Mahindra Finance - ALT Shark with Wolfe Wave
M_mFin has alt shark along with wolfewave and rsi negative divergence on daily timeframe . Also a deep crab and Wolfewave at lower timeframe, Expecting a upside move till shark PRZ after hitting small TF ww target . IF sl taken then we can expect Gartley and can long till 272.
Forecast of gartley if broken B
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!
In HDFC BANK (Bearish Shark & Alt Shark) patterns foundThere are two bearish hormonic patterns found in HDFC Bank
1. Bearish Shark
Can sell from 1519.75
2. Bearish Alternative Shark
Can sell from 1535.45
SL common for both marked in Black
Targets mentioned in Blue with value
Please consult with your financial advisors before take entry, all the risk & rewards is yours
Best of luck
NIFTYIt might be forming a THREE VALLEYS & A RIVER in hourly time frame. It has two bearish Harmonic Trading Patterns at 11875 (Deep Crab) and at 11975 (Alt Shark). "If" a REVERSAL were to occur from that zone then the downside expected levels could be 11750 / 11550 / 11400. The negation point would be at 12020
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
TATA CONSUMERIt has reversed from a Bearish Harmonic Alt Shark in hourly time frame and done a min 38% retracement. There is a possibility of a trend line breakout ONLY if it manages to break "above 328" for 360 where it has a Bearish Harmonic Butterfly. Failure to cross would see continuation of retracement till 50-62%
HDFCIt has activated a C Clamp which suggest a retracement till 1860 is probable, which is also a resistance in weekly/monthly time frame. The level also tallies with a retracement of the monthly bullish harmonic pattern as well as with a probable bearish pattern near it in lower time frame. Two studies suggesting indentical resistance ahead!
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!
HDFCIt is in the PRZ of a Bullish Harmonic ALT SHARK in Weekly time frame. A daily close above 1650 would add conviction for a probable move for next resistance at 1850-2000. Small time frame resistance at 1590-1625. For now the pattern would get negated below 1450
Asian PaintsWeekly chart have seen a perfect bounce from a bullish Ichimoku Kumo, which coincided with a Bullish Harmonic Alt Shark in daily time frame. In hourly it appears to be consolidating after doing a 38% retracement. Support comes in at 1530-1510 which had decent volumes, below that retest of Alt Shark 1.13 at 1470. Immediate resistance 1670, above that 1725. So far among the rare stocks to withstand the bear onslaught.