BANK NIFTY..short term divergence?BANK NIFTY RSI has taken support on the trendline the last 2 times
showing positive divergence.
if the divergence holds for the 3rd higher high of RSI, a possible rebound can happen
Harmonic Patterns
ITCIn daily time frame ITC has made a Bearish Island Reversal. Even though the impact of this set up usually works after an uptrend, we cannot ignore the repercussion in the current scenario. Until it does not negate the bearish pattern AT 165 upside looks difficult. Above that a short term move till 200 where it has a massive monthly and weekly resistance. Downside levels per monthly chart time frame are 120 and if that fails to sustain the next major one is near 65.
AXIS BANK.. interesting set upAXIS short term chart is right now at short term resitance. but RSI movingup and volumes hav picked up
considering the positive setup today, any break above the immediate trendline resistance can give 5 to 6% upmove.. or even more..
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.
Nifty ITIt has bounced from an extremely crucial monthly Ichimoku (Kumo) support. If it were to be held then all time frames suggest a consolidation between 14000-12500 would be likely. However, if it does not hold then the next major support is a Bullish Harmonic Shark at 10000. $:INR showing signs of exhaustion currently is a big issue with the sector.
Nifty - BankNifty - USDINR - DOWDOW
Monthly Kijun has always been held since the Sub-Prime lows. If 25600-24800 gives way then 22700 would become a possible target
USD INR
Monthly has made a Bearish Harmonic AB=CD.
Weekly has done its minimum Dragon target, further sustaining above 74.75 would take it to 77 to complete its next Dragon target
Daily has also made a Bearish Harmonic AB=CD. Ideally sustaining below 74.25 would trigger a decline
BANK NIFTY
Monthly Kijun 28100-27400 crucial for upside.
Weekly has made a Bullish Harmonic Reciprocal AB=CD also, if that fails to hold then 26500 would become a possible target.
Daily has made a Bullish Harmonic Bat at FRI low
NIFTY
Monthly 1st support at FRI low if breached again then 10550 resistance 11200
Weekly 10850 needs to be held on closing basis else it opens for 10550 and then 9800. It also has a Bullish Reciprocal AB=CD at 10800-10750.
Daily has made a Bullish Harmonic Bat at FRI low.
For it to start reversing and moving up it needs to get above the following resistance lines 11050 / 11200 / 11500
HDFC BANKIn Daily Time Frame it has come into the PRZ of Harmonic Trading Patterns. Bullish AB=CD as well as a Bullish Reciprocal AB=CD. In Weekly Time Frame it has come to the strong support of an Ichimoku Kumo. Both appear to be in line between yesterday's low and 1120. It could retrace back to 1200-1225 if the support levels are respected.
Apollo TyresIt is in the PRZ of a Bullish Alt Shark in daily time frame. It could retrace back to 150-160 provided it does not break below 133
USD INRIn the year of the Rat, the Chinese at Wuhan decided to opt for the Bat and that lead to USD INR giving way to the Dragon! :) =)) :))
RELIANCEAs per this weekly chart we can see how beautifully each time the stock has respected Harmonic Patterns and shown reversals. From a Bearish AB=CD to a Bullish AB=CD, followed by a Bearish Deep Crab and now a Bullish Deep Crab along with a Bullish AB=CD. If it can hold 1285 then a retest of 1400-1450 looks probable.
BANK NIFTYBank Nifty in daily time frame has made a Bullish Gartley. It could retest 29700-30000 provided it does not break below 28500
Petronet LNGIt is showing signs of reversal from its PRZ zone of 2 bullish harmonic patterns - Deep Crab and AB=CD. It could retest 260-265 provided it does not go below 243
AMARA RAJA BATTERY IT IS SHOWING BEARISH DIVERGENCE WITH STOCHASTICS THAT TOO IN A MONTHLY TIMEFRAME
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
