SIGACHI a classic example of Wykcoff accumulationSIGACHI Industries is showing signs of Wykcoff Accumulation. I I have explained earlier in my post how Wyckoff accumulation works. Please refer it. I believe a trend reversal is taking place here. I have entered the scrip with stoploss placed @ 280.
*DISCLAIMER*
This analysis is only for educational purpose. I am not a SEBI Registered Analyst/Advisor. Please consult your financial advisor before taking any position and please use a Stop Loss for any Investments/Trading Positions. It is your hard earned money so give risk management your highest attention. Do take this disclaimer seriously.
Trendreversalpatterns
NIFTY MAY GO UP TO 11250 AS IT SHOWS TREND REVERSAL PATTERN ? NIFTY50 may touch 11250 resistance in a short period of time
, as its current position which is showing that it may be expecting a trend reversal in its way but then it may experience a sharp fall again up to As I took historical values from 2018-2019 I noticed that between ~R11200 t0 ~S10700 nifty had the tendency to either sharply fall or sharply rise. But as I close the gap b/w them nifty shows rather a chicken movement(~R10950 to ~S10700).
1. I used Price-Time mapping, Projecting and forecasting for both UP/DOWN movements. All 5 of them showed a common region of break out/in.]
2. Fibonacci retracement and projection also gave reversal zones similar for the S,R.
3. STOOCH-RSI for also generated a buying signal. (*though trend reversal zone at 15-20 *stooch)
4. Though MA, EMA shows downtrend( as nifty exits the 262-day uptrend) as the Bollinger.
5. Volatile ATR.
**Also notice (8th/14th Aug F & o ) movements of NIFTY, Which also showing a strong change in favor of calls b/w 10900-11300.
I found that Nifty may gain up to ~R11200 to 11250, then it will again face a trend reversal zone. As it already left the 262 days of UP trend, 'At that lv. it has less a probability to penetrate "Resistance" so it will enter again in the bear phase and this may go down to ~S11800 and ~S11750, Where, from ~S11850 onwards, starts strong "Supports". Using these parametres I projected the forecast of the Nifty, I tried to forecast weekly (21 days) of nifty movements and its zones.
let me know if you agree or even you disagree.