Hero spot cmp 2820
Time frame :- daily
Study :-chart pattern, harmonic
Symmetrical triangle breakout and bullish bat pattern formation with bullish crossover in MACD. breakout on rsi
Good bullish formation
Can give 10 to15% upmove from current levels...
Nifty metal Index now at 5770
Time Cycle 1 , Based on Fibonacci extension,,
Price wise the extension of 1.618% of last down swing have now extended to maturity levels,, ended this week,,
Price wise the extension of 1.618% of last down swing is around 5971 levels,, still 2 to 3% move is pending..
So price and time squaring around the same point in trend,, when ever...
Srtrans finance multiple harmonic pattern formation with maturity at same level,, counter managed to sustain prz levels of 2 time with positive divergence in indicators,,
good upmove ahead,, atleast 5-7% upmove can be seen in coming days
Good long candidate,,
Wkly chart of USD-INR pair is showing all signs to reverse trend from this week.
MACD divergence, long upper shadow in weekly candles and a strong wedge resistance have a strong probability to push the USD to the lower levels as market in the chart.