Ichimokuexpert
ICICI BANKIt has come to an Ichimoku Kumo support on daily time frame. In lower time frame it has given signs of reversal. It could retest 378 / 390 / 410 if it stays above 362.
Ichimoku is a Japanese study based on specific Moving Averages wherein just like Dow Theory the analyst with a one glance deciphers if price is above Kumo or below looking for an equilibrium set up
TITANTitan has continued to make higher highs and higher lows respecting the daily kijun support. It could move now towards 1225-50 (where it will test a weekly trend line) if it holds 1160.
Nifty/Small Cap Relative StrengthPost SEBI's circular on Multi Cap this chart warrants attention. The current reversal which has seen the Small Cap Bullish revival is now at a monthly as well as weekly support of a Spread Strength Comparison of Nifty / Small Cap. For further out performance of Small Cap Index over Nifty (Large CAP) this support has to broken decisively. Else it might once again go and test it's recent high.
Relative Strength Study
NIFTYNifty had reversed from a Price & Time axis equilibrium on August 31. It appears to have completed an Ichimoku wave yesterday very close to major support of 11150. Will consider this turnaround for now as a bounce for now till 11500 and above that 11650 provided it can take out 11415. Support comes in at 11250.
Ichimoku study is trend is based on time, price is just a consequence thereof
NESTLEIt appears bearish in mutli time frames
Weekly - Ichimoku C Clamp
Daily - Crown Pattern
Hourly - Rounding Pattern
It could retest 16000/15300. View negates above 16900
HDFC BANKThe sideways hourly corrective appears to have ended. It could rally now till 1070/1090/1150 as long as it does not breach 1020.
NIFTY & BANKNIFTYNifty:
Monthly range 11350-10725
Weekly support 11050 resistance 11350/11475/11750
Daily support 11000/10850 resistance 11300
Hourly Butterfly at 11025, if it fails to hold then 10900 likely.
Bank Nifty:
21000 crucial level for any attempt to bounce/reverse back for 22700 and above that rally till 23750-24000
SBIIt appears to have completed a pullback of the IHS breakout it gave last week. It could rally till 215 & 245 as long as it does not go below 180
CNX FINANCIALS & NIFTY PVT BANKSBoth CNX FINANCIALS & NIFTY PVT BANK indexes have made Bearish Harmonic AB=CD which also happens to be v close to their weekly & monthly Ichimoku resistance. Financials could retrace till 10500 while Pvt Banks could retrace till 11500. View would negate if they move and sustain above 11500 & 13100 respectively.
DR REDDYIn weekly time frame it will activate a Bearish Ichimoku C Clamp if it closes below 3900 tomorrow. In daily time frame it has entered inside a Kumo (suggesting increase in volatility) It could retest 3650/3350 where it has strong support. Resistance at 3925 and 4000
PVRIn hourly time frame it has given a breakout which suggests a probable retracement till 1110/1140 as long as it does not breach 1040
AXIS BANKIt is on the verge of a breakout above 440 in daily time frame which indicates further upside 1st till 465 and then till 520 as per weekly time frame. The view would be negated below 425
ULTRACEMCOIt appears to have completed its retracement after a breakout. Further upside till 4050/4200 could be probable if it can sustain above 3825
BAJAJ FINANCEIt has activated a Bullish C Clamp in Weekly time frame. While in the daily time frame after showing some consolidation inside the Kumo is now attempting to resume a short term rally provided it does not go once again below 2350. It faces resistance at 2800 and 3300
NIFTYToday's weak opening and recovery so far looks similar to the lower circuit and recovery on March 12, 2020, we know what followed next. BOTTOMS are RARELY made in V shape. They consolidate before gaining momentum. Intra day and stock specific would be a different matter, else let the mayhem fizzle out then look for reversals. Resistance at 9800.
CIPLAIt has triggered a Bearish Ichimoku C Clamp in daily time frame which suggest a retracement till 615. In hourly its making a Bearish Diamond Pattern indicating 615/600 on break of 638. View would go wrong above 653
SBI LIFEIt has activated a Bullish C Clamp in hourly time frame suggesting the possibility of 725 for now provided it does not breach 699. In daily time frame it is attempting to take support inside the Kumo
SUN PHARMAIt has given a breakdown in hourly charts which suggest a retest of 440/425. View would negate if it moves above 466
GOLDIt has been trading within a triangle ever since it activated a Bearish Alt Bat. Above $1735 the triangle breakout suggest $1785 which is the 2nd target of a Bullish Dragon. As per Ichimoku study, the momentum for upside has a decent probability to start tomorrow. It should be noted that triangle breakouts tend to be the last of a trend, this could turn out to be an unwinding one.
RELIANCEIt has triggered an hourly bearish C Clamp Ichimoku study suggesting retest of 1530 / 1490 provided it does not go above 1615
NIFTYIn 15mins tf its attempting to hold these levels. Above 9390 (15mins close) it could retest 9475/9550. Once that is activated a negation point would be 9350
HINDUSTAN UNILEVERIt has activated an Ichimoku C Clamp which is suggesting a retest of 2175. View would go wrong if it trades above 2425.
