Seems Like Double Bottom is broken but took longtime support at 380
RSI has turned slight Bullish so Lets long with hard stoploss 377
and target = 38.2% retracement
Dear all,
Does this qualify as a double top which has formed on the daily chart of bank nifty.
Does that mean that the rally has come to an end in Banknifty?
PNB Housing broke out of its lifetime expanding wedge, After making a double top,finding neckline support at 618 FIB of the previous leg up.
Moving in the green channel, its currently in breakout/reversal zone.
Above 10100 for 10175 & Below 10070 for 9960 - Below 9900 for sizeable correction to 9650 as per last update mentioned below.
Trading Strategy
Look for a jump to 9785-9800 zone from 9730-9735 zone & later sell from top zone of 9800-9810 for 9650-9600 once you get bearish clues on top end.
Hope you guys are doing good. We have bearish harmonic in the zone...
CEAT is moving in a channel for a while
Currently making a double top in the blue zone.
On the daily chart, its moving towards filling a gap from 1840 to 1900.
NIIT Ltd is on the verge of a breakout above 109.8. Forming a flag with pole pattern and also has formed a double bottom at around 72. A long can be considered with a stop below 99. The targets could be at 137 and 148.
double bottom formed after a long downtrend,
price broke the neckline and pattern got confirmed,
and then price retested the broken neck line and reversed
also hidden bullish divergence is seen in weekly.
sl - 65 pattern tgt - 108
If Butterfly turns into cipher- spelling mistake. Time to open your dictionary & add a new word in your vocab list. Who cares about the spelling mistake & who cares about the doosra (cricket term) till the time they give you results.
There is a bearish cypher in the range 425-427 zone & will it confuse to make you clean-bowled like doosra - well I don't know till...
