Dinesh_C_Nagpal

Dinesh_C_Nagpal

It has given a diagonal breakdown which indicates 4900/4400 as possible areas before any major respite comes. On the other hand immediate resistance is at 6250 above that 6800.

Dinesh_C_Nagpal

Weekly chart have seen a perfect bounce from a bullish Ichimoku Kumo, which coincided with a Bullish Harmonic Alt Shark in daily time frame. In hourly it appears to be consolidating after doing a 38% retracement. Support comes in at 1530-1510 which had decent volumes, below that retest of Alt Shark 1.13 at 1470. Immediate resistance 1670, above that 1725. So far...

Dinesh_C_Nagpal

For any reversal/rally to sustain, VIX needs to cool down. For now sustaining below 39 would be the 1st confirmation for a pullback to 30 then 25. With Q4 Advance Tax noes coming in from Monday, we would be seeing stock specific reactions going forward unlike the systematic fall we have been witnessing since FEB. So a word of caution, not every Inky Pinky Ponky...

Dinesh_C_Nagpal

It has bounced from an extremely crucial monthly Ichimoku (Kumo) support. If it were to be held then all time frames suggest a consolidation between 14000-12500 would be likely. However, if it does not hold then the next major support is a Bullish Harmonic Shark at 10000. $:INR showing signs of exhaustion currently is a big issue with the sector.

Dinesh_C_Nagpal

Bank Nifty has attempted a bounce today after testing 62% retracement of its move from FEB 2016 low. For it start a meaningful rally it 1st needs a consolidation which could happen between 26000-22500. Failure to hold today's low opens the passage for 19000. A downtrend halts & changes 1st with swings then an uptrend starts, whichever time frame you look at it. If...

Dinesh_C_Nagpal

As per ICHIMOKU study - Monthly, Daily, Hourly, 15mins & 5mins all showing 9800 as crucial. So if we are looking for this Monthly Kumo bottom to hold then we need to be prepared for some consolidation between 9800-8500 also. VIX is at extremes, until it starts cooling be prepared for swings as well if these lows are to be held. However, if again dips lower the...

16:51

Dinesh_C_Nagpal

DOW Monthly Kijun has always been held since the Sub-Prime lows. If 25600-24800 gives way then 22700 would become a possible target USD INR Monthly has made a Bearish Harmonic AB=CD. Weekly has done its minimum Dragon target, further sustaining above 74.75 would take it to 77 to complete its next Dragon target Daily has also made a Bearish Harmonic AB=CD. Ideally...

Dinesh_C_Nagpal

In Daily Time Frame it has come into the PRZ of Harmonic Trading Patterns. Bullish AB=CD as well as a Bullish Reciprocal AB=CD. In Weekly Time Frame it has come to the strong support of an Ichimoku Kumo. Both appear to be in line between yesterday's low and 1120. It could retrace back to 1200-1225 if the support levels are respected.

Dinesh_C_Nagpal

It is in the PRZ of a Bullish Alt Shark in daily time frame. It could retrace back to 150-160 provided it does not break below 133

Dinesh_C_Nagpal

In the year of the Rat, the Chinese at Wuhan decided to opt for the Bat and that lead to USD INR giving way to the Dragon! :) =)) :))

Dinesh_C_Nagpal Updated 

As per this weekly chart we can see how beautifully each time the stock has respected Harmonic Patterns and shown reversals. From a Bearish AB=CD to a Bullish AB=CD, followed by a Bearish Deep Crab and now a Bullish Deep Crab along with a Bullish AB=CD. If it can hold 1285 then a retest of 1400-1450 looks probable.

Dinesh_C_Nagpal

Bank Nifty in daily time frame has made a Bullish Gartley. It could retest 29700-30000 provided it does not break below 28500

Dinesh_C_Nagpal

It is showing signs of reversal from its PRZ zone of 2 bullish harmonic patterns - Deep Crab and AB=CD. It could retest 260-265 provided it does not go below 243

Dinesh_C_Nagpal Updated 

It has made a bullish AB=CD in daily time frame. It could reverse from here for 6850 / 7100 provided it does not go below 6625

Dinesh_C_Nagpal Updated 

It did a reversal from Kumo support post Bearish AB=CD. Today its going to activate a C Clamp for 815. View would be negated below 774.

Dinesh_C_Nagpal Updated 

It has activated a C Clamp in Daily Time frame suggesting 149 as a possible level which coincides with 50% retracement of Bullish Alt Shark. In hourly time frame it has taken good support near the Kumo. View negates below 139

Dinesh_C_Nagpal

It has activated a Bearish C Clamp in both daily and 15mins time frames. It could retest 388 and 370. View would be negated above 402 for daily tf and 396 for 15mins tf

Dinesh_C_Nagpal Updated 

It has activated a C Clamp in daily time frame. It could test 190 provided it does not break 171