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Continues Head & Shoulder Pattern in RelianceFirst of all i don't know weather this pattern is true or not but i have seen good results in many charts so i am sharing it over hear. This is continues H&S pattern which shows that the prices will continue to follow its trend. For example IF prices have move from Level A TO B and forms a Reverse H&S Pattern at top of the trend and if it gives a breakout from that price. I have notice that prices will trade higher till the difference of A TO B. So, I suggest that prices of Reliance will go higher till 1900 very soon. I might be theoretically wrong but i have seen good result in this formation.
BSE:RELIANCELong
by pratiktech
HIGHER TOP HIGHER BOTTOM FORMATION IN SUPRAJITWe have seen that the basic formation of Trend Analysis is Higher Top Higher Bottom formation & Lower Top Lower Bottom formation. Prices have recently corrected from his recent highs and it was shoot up yesterday with GOOD Volumes. If we judge it as Higher Top Higher Bottom formation we can see that Prices can make new highs above 337 or levels. If prices breaks its recent bottom of 274.05 then only the trend will get negative. Volume of the particular stocks also recommend that healthy volume has been seen around these levels ahead and correction was just a profit booking and we can also confirm by lower volume when the prices were falling down. This is just for information not for any trade.
BSE:SUPRAJIT
by pratiktech
Longs Initiated @ 2407, Reversal too confirmStrategy: Buy @ 2407 and add more for 2600+ target ------------------------------ TCS 0.25% was on uptrend and correcting it's uptrend after hitting 2700 resistance zone . Correction was on running flat correction which was supposed to be completed below 2100 levels. Post 2100 support reach, script was able to jump and tested 2550, We are calling it's five wave impulse move in nested manner. 2407 can provide good support level here to go long.
BSE:TCSLong
by Hittesh
EURINR Elliottwave: Looking for break of monthly trendlineTalking Points: Technical Strategy: Bearish Elliottwave Count: Either wave (C) continuation or B wave of (B). HTG Note: Larger outlook on weekly chart is showing weakness on long and short term. EURO vs Indian Rupee price is testing weekly trend line. Last time this line was tested on September, 2015 and post that we seen nice pullback towards 77.80 levels. We in HTG consider that was correction and marking as a wave (B). From 77.80, we were seen bear continuation and currently price is testing same weekly trenline. Break of this weekly trendline will be very bearish outlook for Euro. On alternate, if price is start trading higher, we are expecting to see price can go and above 82 levels before it's turn bearish again. Lower time frame, we are seen reaction near trend line support, however current price is trading in just correction and testing horizontal resistance on 70.15. We are expecting this zigzag correction should be over. To confirm, bear trend is back in force, we need to have channel breakout here @ 70 area. Post this breakout, we are able to mark correction over and can trade for lower target below 68 Action We initiated short position @ 1.77 with limited stoploss
Short
by Hittesh
PNB up trending channel pattern on daily chartIts been observed that PNB has been following an up trending channel since 24 may 2016. Considering the fundamentals, current events and upcoming events I am strongly bullish on PNB. Please feel free to share your thoughts and suggestions on this. PS: A small violation in the channel pattern was observed on the US election results day (09 NOV 2016) when the candle opened below the channel but closed within the channel thereby holding the channel pattern completely valid.
NSE:PNBLong
by k314