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
NiftyNifty through the week was within a falling channel making Lower Lows and Lower Highs. At close today it came into the PRZ of 3 Bullish Harmonic Patterns, namely, Shark, Bat & Gartley. If it were to reverse from this level it needs to survive above 11940 for an hour at least. Then it could move all the way back to test the falling channel at 111975-12025. From that range (or on failure to hold 11885) we could expect the next set of 3 Bullish Harmonic Patterns. namely, Alt Shark, Bat & AB=CD get active between 11830-11860 to conclude this slanting channel trend