* Rallies stuck @ Fib number - Will Fib series continue? * Channel Breakouts (Red Lines) * Higher or Equal lows @ support line of channel (marked dashed blue)
* Bullish Deep Crab (Black) * At Pitchfork support * Support at 3/1 Gann Fan * RSI bouncing from OS level
An energetic morning for bears as SGX Nifty is trading ~1% down. The lower high- lower low formation is a sign of bearish setup. The break below rising trendline (red line) and lower horizontal line (golden line) would trigger the test of support line of falling channel (black parallel lines) at 8,430.
The stock is down by ~22% in last 3 months and the Bullish Anti Butterfly suggest reversal on cards. The reversal would take price back to 520-550 levels till 445 is held.
* Trendline * Resistance zone * RSI at resistance zone
*Dumpling Top *Trendline resistance *Negative crossover on MACD Blur chances of 9K in 2016.
* Bearish Reverse AB=CD * Trendline resistance * Demand zone turns supply zone * Stochastic in over-bought territory