As shown in the chart, the pitchfork pattern indicating that the price action is trending downward.
Industrial Finance Corp. of India (IFCI) on monthly chart forming a descending triangle. Once it breaks out above 30, it shall be considered as great long-term investment opportunity. Publishing it now to provide you an opportunity in advance, hope you gain something out of it. Regards.
Reason: Exhaustion of down trend along with sideways. Timeframe : By year end 2016.
On weekly Chart, it is been observed that there is a formation of Gravestone Doji candlestick that indicates bearishness. It forms in uptrend market to suggest change in trend. As showed in the chart, Nifty -0.96% is been trending up forming new upside breakouts and waves for a while, it is been now observed with a Gravestone Doji, that indicates change in trend...
On a monthly chart, the price action has broken out from a consolidation range that indicates bullishness and buyers dominance. Previous month the stock corrected 25% and retraces back to the previous breakout levels or resistance. The prices may go down further to 28 levels but eventually it will rise with the time and may cross over all time high of 45 levels....
Reason : Third Sharp spike in prevailing trend to occur to come out of narrow range. Timeframe : By fortnight from here.
Reason : Exhaustion of down side correction to trigger upmove out of present narrow range to taste shorts order point. Timeframe : By early January 2017.
Reason : Exhaustion of downward move with littler further push upto 760 then move higher to Re-test the previous highs Timeframe : By year end 2016.
Reason : Pair to leave its present narrow range to re-test its previous highs as a part of continuation of uptrend. Timeframe : By early November 2016.
Reason : Continuation of uptrend. TImeframe : By end of October 2016.
Reason : Down trend along with correction of time and price is over. Beginning of uptrend from this price level. Timeframe: By end of this month.
Reason : Two wave price along with time correction getting over this month.This to lead price to re-test its previous highs. Timeframe : October.2016-April.2017(Extended to April.2018 ~ if delayed).
Reason : Two wave correction is over, this to trigger prevailing uptrend's move to retest the highs. TImeframe : By early October.
ACC is giving a Bullish Flag Pattern Consolidation.. One can Buy ACC at CMP with stoploss just below 1650 and Targets around 1725/1750. Details are on the chart. Happy Trading!! Siraj Hudda, CFTe Web: www.prowaveanalysis.com Skype: sirajhudda Email: contactus@prowaveanalysis.com Facebook: www.facebook.com Twitter: twitter.com LinkedIn: in.linkedin.com