Matter to watch a weekly close above 3020, will push the metal index to 3131 to confirm a harmonic setup of "Bearish Shark Pattern"
Below 2980 can slide upto 2845-2710
3131 >>>>>>> correction till 3014-2916
CROSS ABOVE 3131 ON WEEKLY BASIS >> 3212-3290 INTACT
Targets : 549-535 Sell range : 635-625 Stoploss : 651 Duration : 3-4 weeks
Daily chart of this Pharma stock (Aurobindo Pharma Ltd) is showing a sharp down trended move over the last couple of weeks.
The stock price has witnessed a downside breakout of the triangle like pattern on 21st Apr 2017(red converging lines) and slided further...
Targets : 2520-2717 Buy range : 2395-2410 Stoploss : 2300 Duration : 2-3 months
Attached daily timeframe chart of this IT stock (TCS) is indicating a sharp up move for the near term.
The stock price moved above the hurdle of down sloping trend line (red line at Rs.2400) and closed above it at Rs 2432
We observe positive sequence of...
The stock has been consolidating in a range of Rs 241-210 from March 2017 till date and seen constructing a higher troughs & lower peaks forming a pattern “Symmetrical triangle” (red converging lines), which is considered to be indecisive in nature.
The said pattern generally regarded as a period of consolidation before the price moves beyond one of the...
Targets : 1467-1398, Sell : Below 1520 Stoploss : 1600 Duration : 3-4 weeks
The gradual upmove of the last 4-5 months seems to have completed, as the stock price has started to show weakness from the highs during this week.
Initial evidence of a beginning of declines is visible in terms of downside breakout of “Double Top Pattern” ...
The attached 4 hourly timeframe chart of TECHM has formed a bullish candlestick pattern like “Morning star”(shown in a orange circular object), it is considered as a bullish reversal pattern of high reliability.Formation of long bullish candlestick on Day 3 confirmed the pattern and shows that bulls are gaining strength over the bears.
After posting a 52-week high of 1049, on 04th May 2017, stock witnessed profit booking in the last trading session, resulting into a “Bearish Engulfing” candlestick pattern, erasing all previous day’s gains. This pattern is formed generally at the end of an uptrend, or near a potential resistance and is a reliable reversal pattern
Moreover, we also...