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Roundingtop

Nifty spot good short candidateNifty Spot CMP 13000 Elliot wave Study :- Impulse phase is on verge to mature, and if Corrective phase unfold for this whole impulse swing we might see some retracement in coming 1-3 month ,, price wise which can be 0.236% to 0.50% of this whole swing.. more details mentioned on chart.. RSI Divergence :- In last wave of impulse phase , price is making higher high where RSI is making lower high,, Bearish divergence ,, indicated soon the wave is on verge to mature.. Trend line :- At the moment index is trading around Major resistance line which is respected for the whole swing. Chart Pattern :- In last wave of this impulse phase , rising parallel channel formation and rounding top formation are seen,, details on chart..
NSE:NIFTYShort
by RUDRA007
18
Technical analysis rounding top Recognizing:Technical analysis of price information suggests that a rounding top may form at the end of an extended upward trend and that this price pattern may indicate a reversal in the long-term price movement. The main point of recognizing the pattern is to anticipate a significant change in trend from upward trending prices to downward trending prices. Recognizing this kind of a change can allow traders to take profits and protect themselves from buying into an unfavorable market, or strategist to make money from falling prices by short-selling.
NSE:SRF
by reshmi_chauhan1
79
H&S or Round Top - Both portend bearish outlook Price movement has formed H&S. However, right shoulder as we see at it is not pointed. Instead, it appears to be a round top in formation. Both portend a bearish outlook. RSI (daily) is 42 - Bearish. CMP is below 20 and 50 DEMA. Price movement will invalidate round top only if it moves above 3135 - 50 DEMA. Price outlook on a weekly and monthly time frames is still bearish. Therefore, current bearish outlook can be considered as correction Price has key support levels at 2929 on a weekly chart followed by 2834.
NSE:HDFCAMCShort
by datepuru
Nifty view for Next Week Forming Rounding TOP Type of Pattern onNifty view for Next Week Forming Rounding TOP Type of Pattern on Hourly Chart Yesterday closed on Lower point of this pattern In Next Week If BreakDown below 11770 Support zone will lead a fall till 11700-11686-11615 Below 11600 will lead to fall towards "Gap-filling 11426-11591" Still Strong Resistance 12000 to cross Open Interest Data: 11900-12000 Very Strong Resistance 11800 Strong Support 11700 & 11500 Weak Supports to Hold
NSE:NIFTY
by Arrowmoney
Short BataIndia Jan FuturesAfter a sustained uptrend BataIndia looks weak at top. Stock after touching 1163.65 (which is 100% Fibonacci extension from the SPL of 1075) looking set to reverse its trend. Its giving divergence as per stochastic and all set to test 1138/1126/1114/1097 levels on near to medium term. Today also stock tested 1138.7 which is its 38.2% Fibonacci retracement. Its good to short between 1153-1170 levels with a target of 1126/1114 with a stoploss of 1177 on closing basis. Its strongly advised to hedge the positions to reduce risk on your portfolio.
NSE:BATAINDIAShort
by TradersVenue