nifty has touched 1.618 and must turn bearish for a little while
Reliance has crossed above Fibonacci level 1.618 for stoploss hunting and now trading below the target level
Bank Nifty has completed the Fibonacci level of 1.618 and now its a time for trend reversal (Bearish)
Bank Nifty look very week and can move till 23380 to 23500 and can turn Bearish
Nifty can move up only for a short period / small points for a trend reversal for down side
Bank Nifty is in a minor pullback the overall trend is still bearish
Nifty is still in a down trend unless it crosses and close above 11375 it is not advisable to buy in Nifty
Gold is set to re-test the previous resistance and rally upside
TATA MOTORS has touched the bottom of 1.618 and currently near monthly trend line resistance. this time is can break, once the trend line is broken the re-test will happen and then reach upside to 0.05 and 0.168
RELIANCE has broken the major support and it has already given a bearish confirmation. STOPLOSS HUNT SEEMS TO BE OVER ABOVE 1.618
NIFTY is trading at the crucial area which already tested the CHANNEL SUPPORT LINE on 14th August @ 2:15 PM. hence expected to break the channel at this time, therefor it is good to close the swing trading for long position.
RIL has formed a double TOP and given a bearish confirmation
If NIfty shoots upside it can topout at the previous high @ 11341. if it breaks down 11165 then it can trade below the neck line placed at 10880. Upside target : 11243, 11300, 11341, final 11377 downside target : 11111, 11055, 10880 , if the neck line is broken then the direct target will be 10580 and 10551 which is 1.618 level and...
Axis Bank has formed a cup and handle pattern
NIFTY BANK can move a minor pull back and can start the fall