1. Inverse Head And Shoulder on Daily Chart
2. Bat Harmonic Pattern (Magnetic Action) completion. (Potential Target ~130)
3. Price also in a bullish channel.
4. Upcoming earnings event
5. About to break a 200 EMA on a weekly chart. NSE:NTPC
MRF has made a strong bullish candle near harmonic PRZ, giving a confirmation to go long.
Target 1 - 81616
Target 2 - 84861
Stop loss - 74860 on daily time frame closing basis
Nifty has made a slow and a steady up move and it is now near trendline resistance and harmonic PRZ. Hourly RSI is above 80 which also indicates overbought. Looks like fresh short position can be created near 14972.45.
CMP - 14949.4
Entry - 14972.45
Target 1 - 14851.45
Target 2 - 14777.25
Target 3 - 14717
Stop loss - 14985.3
BPCL has rallied with not much volume and this looks more like a short covering. Right now it is near Harmonic PRZ and also at its historical resistance. It is expected to correct from the marked zone. Risk reward is also looking in favor.
CMP - 453.7
Entry - 456.5
Target 1 - 443.15
Target 2 - 434.9
Target 3 - 428.25
Stop Loss - 464.65
This is only for...
Apollo tyres looks a buy in harmonic pattern. If market goes in positive direction then we might see some upside movement in this stock. Buy near 200 SL 192 TGT 1 : 222 , TGT 2 : 229. Try to book on a risk reward of 1:2 and dont wait for the exact targets as market is very uncertain. This post is for educational purpose only
Disclaimer post: We are not sebi...
Nifty appears to be forming WXY correction which might end at around 13803... Currently it might be forming the B leg of Y which could go around 14570 to 14670 which are a stong resistance area of .500 and .618
Moreover the structure also appears to be forming Harmonic Bat at 13806
Just a view of mine... could be wrong too...
As long as point B of Harmonic pattern XABCD is not taken out and sustained, there is a high probability that Nifty 50 is headed for 13800 levels in the coming days.
It appears that Nifty 50 will buckle under it's own weight as Bank Nifty, which is the single biggest sectoral constituent of Nifty 50, does not look as bearish as Nifty 50. Even though if Nifty...
As We Can See Market Is Falling Slowly And Steadily .
As Per Our Harmonic PRZ Nifty Will Bounce From 13820-13805.
For A Broader Range Nifty Support Zone Is 14770-14820.
Fresh Long Entry Can Be Taken From The Support Zone Area.
Till Then Short Nifty AT Every Rise.
For Nifty And Banknifty Intraday Calls
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As you can see it has a decreasing Harmonic pattern I think if you want sell it wait until it break's its support
