Nifty index has shown a short term harmonic reversal pattern- Butterfly Pattern.
The Price Reversal Zone supposed to be the extension of 1.27 Fibonacci level XA leg.
BC projection is at least 1.618 Fibonacci level.
This zone is giving us the most compact PRZ.
PRZ range: 14325 - 14308
After Reversal Minimum target 14667
The stock is on an uptrend and had correction for sometime and now back to original trend by forming a reversal pattern on daily chart. Breaking the neckline and closing above that may be the time for entry.
stop loss can be placed according to personal risk management.
NB: This is not a stock recommendation, just sharing my view only.
Tata Power has good potential to reach a price of 92 with a stop-loss of 52. Based on the next continuation pattern, target and stop-loss can be revised. Kindly do proper analysis before investing. Investments are subjected to market risk. Happy trading.
BUY RISKY LONGTERM 1-2 YEAR
FOR 200 % ++ UPSIDE
KOHINOOR FOODS LTD
CMP = 8.40
TGT = 25+
SL = 3.5
**This post is for educational purpose only,
please concern with your advisor before
investing in market related instruments.**
ITC trading at 167 and trying to hold the low of
24 Sep 20 (166.15)
In previous day session it has formed a doji near
this level. Plz dont pre-empt of reversal and start buying it.
Wait for a bullish candle (with good vol) like I've shown in chart.
And, when high of this green candle breaks we can go long.
Conversaly if breaks 166, 157 is the next target
Nifty structuring a Bearish Harmonic Pattern.
We also have a supply zone at the top, so we can expect the nifty to get reversed.
The price reversal zone is 11734 and SL is 11794
The targets are
Please wait for reversal confirmation near our level..
Just my view.. :)
Nifty framing a Harmonic Shark Pattern ( Bearish Shark )
We can expect a reversal near 11546-11550 (PRZ)
Stop loss- 11600
Target -11408, 11368
I'm expecting NIFTY further downside till 11200-11185
Kindly stick to harmonic pattern target.
Just my view.. :-)
The RSI reading indicates that the stock is at a near term resistance and could see some downside. There have been strong significant green bars and may see some correction or possibly a reversal. A correction and profit taking can be observed around levels of 199, if it breaks down further then that could indicate reversal around 178 levels.
MACD appears extremely oversold and at the same time there is a AB=CD formation on EURUSD. We may see a retracement to the neckline (of the broken H&S) which is around 1.0980-1.10, which can be a great shorting opportunity from a medium term perspective.