Harmonic Patterns
AMARAJA BATTERY HARMONIC AB=CDAB LEG WAS COMPLETED IN 5 BARS OR DAYS SO, CD LEG MUST COMPLETE IN SAME DURATION OR 1 MORE DAY AS A RULE AND STOCK MUST TAKE SUPPORT AT 1.27 HARMONIC LEVELS AS BC WAS .786 OF AB LEG . LETS SEE IF THIS WORKS
MARUTIIt has made a bullish AB=CD in daily time frame. It could reverse from here for 6850 / 7100 provided it does not go below 6625
RAMCO CEMENTIt did a reversal from Kumo support post Bearish AB=CD. Today its going to activate a C Clamp for 815. View would be negated below 774.
VEDLIt has activated a C Clamp in Daily Time frame suggesting 149 as a possible level which coincides with 50% retracement of Bullish Alt Shark. In hourly time frame it has taken good support near the Kumo. View negates below 139
HERO MOTOCORPIt has made a Bullish Cypher in hourly time frame. A bounce back to 2425 is possible provided it does not go below 2325
VEDLIt is showing signs of reversal from the PRZ of 2 Bullish Harmonic Patterns: Gartley & Alt Shark. If it sustains above 132 it could retrace till 145-150
HERO MOTOCORPIt is making a Bullish reciprocal AB=CD in daily time frame. It could bounce back to 2475/2500 provided it does not go below 2325
ASHOK LEYLANDAshok Leyland appears to have completed a diagonal which is v close to weekly ichimoku resistance. A retest of 78-75 could be possible if it were to sustain below 89. Q3 results are expected on Feb 13
NiftyNifty 15mins TF is at the PRZ of a Bullish Shark. Settlement bounce for now till 12100, post which will review for more or not. View negates below 12030
Archiving MCdowell DiscussionIt came to a discussion yesterday because we had buy in this one and was looking when to exit. Just pasting the thought process chronologically as a diary to check later
3:08 We were tracking weekend strat yesterday
It triggered that same day
Closed on morning NRMLMCDOWELL-N FEB FUT NFO
-1250655.35651.00+5,437.50-0.66% on that support line
09:33:13BUYMCDOWELL-N FEB FUT NFO
NRML1250 / 1250651.35COMPLETE
took it back 09:45:18SELLMCDOWELL-N FEB FUT NFO
it made 8k on that retracement and then closed here
RelianceIs trading within an expanding triangle. Today's O=H (so far) near the upper end of the channel. If it sustains below 1540 (closing basis) then it could test the lower end of the channel near 1475. Resistance comes in at 1580 for now.
Nifty Infra IndexIt is making a Bullish Harmonic Dragon - probable levels of 3600 & 4100 with strong support at 3150-3100.
Nifty India Consumption IndexNifty India Consumption had witnessed a 50% reversal from a Bearish AB=CD. Post which it is now getting very close to a Bearish Harmonic Alt Shark near 5240, the outer limit of this pattern tallies with the outer limit of the previous bearish pattern at 5270. If this pattern works out as expected then this last leg of rally could see some profit booking and retest of 5100-5000
BULLISH BAT IN INDUS INDIA BANKIF IT BREAKS 1315 SUB 1300 POSSIBLE.
PRZ ZONE COMES AROUND 1233-1228.
THIS IS FOR EDUCATIONAL PURPOSE ONLY
AS STOCK IS DOWN ALREADY.
BODY OF CANDLE STICK AT POINT C COMES UNDER 88.6 OF XA
WATCH THIS STOCK CARE FULLY
MY EARLIER CALL OF THIS STOCK WAS UP TO THE PREDICTION,
PLEASE SEE MY EARLIER POST OF INDUS INDIA BANK
SILVERMonthly chart is in Tiger Shroff mode "Abhi to maine start kiya hai!" Sustaining above $19.40 will explode for $23-25. Else will consolidate between $ 19-17 for sometime before resuming this uptrend.
RELIANCE INDSAfter reversing from a Bearish Harmonic Crab, it took support at an Ichimoku Kumo cloud from where it bounced back to the Kijun resistance at 1560 in daily time frame. In hourly time frame it is near an important Kumo support. If it holds above 1510 it can retest 1575-1600
GLENMARKAfter giving a strong reversal from a monthly Bullish Harmonic Bat it is now getting ready for another rally with minor resistance between 360 and support coming in at 340-330. Wait for breakout or dip to support. Next resistance at 390/450
