Nifty - Daily Chart Analysis
200 DMA giving support to nifty Can we say Bullish Gartley if we get a bullish Gartley then we are heading back for 18200+ levels
Nifty Close around 17000 we can see a Bullish Harami Pattern.
Closing above 17100 ( bullish candle) is very important for bulls
hope for best - bulls Tomorrow gapup if we will see bullish harami
Rounding bottom or cup shape completed. handlein prgress. as and when trend of handle will breakout.......black lines may be target. res all mentioned in chart
Reliance took a correction of nearly 10% from 15th June to 25th July, then made an up move. This correction completed the target of the bearish bat pattern(left side,
Moving to the current situation, the price is again at a decisive potential reversal point but being already beaten up, chances of fall are less if spoken logically. There could be a fall also, so...
Previously on UPL we noticed static Downtrend from the level of 673 and that Downtrend continued for a bit long.
Currently we are expecting the same Downtrend will continue for next 2-3 days as par our Technical and Statistical Analysis.
Enter into the market after the clear trend defined into 5 Min Time frame and wait until formation of 2...
1) FALLING WEDGE PATTERN ( Reversal pattern )
2)MACD DIVERGENCE
3) INCREASE IN VOLUME
Eicher motor broke falling wedge pattern and we can expect upside move. Fibonacci 50,61.8 should be our two targets on upside. Trade at your own risk. Trade safe.
LT is forming a falling wedge pattern which is a Trend continuation pattern. As LT is sustaining below 200 EMA it indicates that stock is in downtrend and falling wedge formation gives strong setup for shorting stock in intraday basis. Look for the open of market if the range or wedge is broken down go for short trade.
This is just my view. Trade at your own...
