DESCENDING WEDGE BROKEN ...MOVING TO TEST DOWNTRENDLINE ...BREAKIN IT MIGHT MOVE THE PRICE ACTION TO 620 PLUS TARGET IN COMING WEEKS ...
SELL BELOW 638...TARGET 626(INTRA) , 600...... STOPLOSS 670
SELL ON RISE
BUY AROUND 1160 ...STOPLOSS (INTRADAY 1145....POSITIONAL 1135 )....TARGET 1190,1215
buy above 554 ....stoploss536 ...target 570 ,590
IN A ASCENDING TRIANGLE MOVING TO TEST PREVIOUS HIGH ...ENTRY 1825 , STOPLOSS 1760 ...TARGET 1960
TRIANGLE BREAKOUT ,ENTRY @310 312...TARGET 317 ,329.....STOPLOSS 305
IF IT BOUNCES OF FROM THE CURRENT LEVEL AFTER CONSOLIDATION IT MIGHT TEST THE PREVIOUS HIGH....ON CONTRARY BREAKING 25150 COMFORTABLY WILL PUSH THE PRICE ACTION TOWARDS 24800 , CLEARLY THERE IS A UPTREND CHANNEL PRESENT AND 24800 FORMS A SUPPORT SO UPTREND WILL RESUME FROM THESE LEVELS ,BREAKING 24800 WILL PUSH THE PRICE TO FIBO 0.618 RETRACEMENT 24520 (...
HEAD AND SHOULDER BREAKOUT ...ENTRY ON RETEST,FOR TARGETS OF 275 , 250 ...STOPLOSS 308-310 RANGE
crude oil might test 54.80 ,55 zone (prev high) ..from that point it forms a cup and also a ascending wedge ,so fall from 55 zone to feb retracement levels forming the handle. and it meets the support line of the uptrend channel ....from there it might resume a new uptrend forming new highs if it breaks the 55 zone resistance line ,we might see a fresh multi year...
PRICE BROKEN LONG TERM TRENDLINE ...TRIANGLE BREAK TOWARDS DOWNSIDE ....ENTRY ON PULL BACK TOWARDS 315 TO 320, WITH STOPLOSS OF 330 ...TARGETS MENTIONED IN CHART
FIB EXTENSION SHOWS SATURATION @24790...IT MAY BE THE POSSIBLE ROOF FOR BANKNIFTY
PRICE BREAKING THE TRIANGLE ON THE DOWNSIDE ...A SMALLER H&S PATTERN IS FORMED AND ON BREAK OF NECKLINE @489 GO SHORT FOR TARGETS OF 485 AND 480...
POSSIBLE LONG POSITION ONCE THE NECKLINE IS BROKEN @523...FAVOURABLE POINTS ARE BANKNIFTY LOOKING TOWARDS NEXT LEG OF RALLY ,THE SQUEEZE MOMENTUM INDICATOR SHOWING CORRELATIVE EVIDENCE OF BREAKOUT... FIRST TARGET 530
INVERTED HEAD AND SHOULDER PATTERN ...POSSIBLE RETEST TO PREVIOUS RESISTANCE ZONE ...PRICE ACTION BOUNCING OFF FROM 2 YEAR LOW ... FURTHER ANALYSIS INDICATES A BRAKE IN LONG TERM DOWNTREND LINE FAVORING THE ABOVE SHORT TERM IDEA ,