ICICI BANKIt is attempting a breakout as per Ichimoku in hourly time frame, which also happens to be a weekly resistance. If it manages to give an hourly close above 335 then it could test 370 and above that 425. View would negate below 315
Ichimokuexpert
INFRATELBharti Infratel has activated a Bullish C Clamp as per Ichimoku. It could test 180 provided it does not breach 155
NIFTYYesterday's Hourly Bearish Alt Shark did its min expected retracement of 38% till 8700 approx. Currently the set up suggests 9600 approx where three Bearish Harmonic Patterns are emerging. It also happens to be the 50% retracement of the Monthly Alt Shark reversal. Even as per Ichimoku the same zone 9600-9800 will act like a tough resistance. Markets seldom give an opportunity for trapped ones to exit particularly in a downtrend. It appears to be in a philanthropic mood this time!
India VixIf it gives an hourly close below 70 then there would a v strong likelihood of further cooling till 50 where it has an alignment of support from Monthly down to Hourly. This in turn would get some steadiness to markets. Less of these wild intraday swings and lower probabilities of large daily candles. Near 50 it could then resume its upward journey. Whether this is going to be the CALM before the (next) storm or VIX is done with its carnage would be reviewed near about 50.
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.
Bank NiftyBank Nifty has attempted a bounce today after testing 62% retracement of its move from FEB 2016 low. For it start a meaningful rally it 1st needs a consolidation which could happen between 26000-22500. Failure to hold today's low opens the passage for 19000. A downtrend halts & changes 1st with swings then an uptrend starts, whichever time frame you look at it. If its V shape then be prepared that its a trap. RBI's move yesterday (Dollar Swap) to provide liquidity is a +ve indicator
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
UJJIVANIt has activated a Bearish C Clamp in both daily and 15mins time frames. It could retest 388 and 370. View would be negated above 402 for daily tf and 396 for 15mins tf
TATA GLOBALTata Global in daily time frame has activated a C Clamp suggesting retest of 355. It's hourly is also suggesting a H&S breakdown below 379. Resistance at 390. View negates above 400
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
HINDPETROIt appears to have formed a double bottom in lower time frame after the recent sell off. If it sustains above 260 then it could retest 275 where it finds its first level of resistance for any bounce/reversal.
IndigoA weekly close inside kumo (below 1400) could lead to further sharp selling as chikou is free for a down move till 1225-1200 (other end of kumo)
TATA STEELIt has a weekly as well as daily resistance at 420 from where it has reacted. Unless it manages a close above it there is strong possibility it might retest support at 390-380 to confirm a higher low. Sustaining above 420 (on closing basis) could take it to 475
TCSThe reversal from Bearish Shark has retraced by 50% and has opened up the probability of a Bullish 5-O here which is giving targets of 2400-2450. View would negate below 2050. As per Ichimoku also it has good support between 2100-2060.
Ujjivan FinancialIt is now at Bearish Harmonic Butterfly PRZ level of 316-20. As per Ichimoku study also it has resistance at 319. A reversal from here could give a dip till 290. View would be negated above 327
