bbrijesh

bbrijesh

* Falling trendline * Rectangle formation * OB Stochastic

bbrijesh

* On the verge of breakdown of support line * Break of 240 can take price to ~222

bbrijesh

* Head & Shoulder * Horizontal trendline (green line) >> Short below 100

bbrijesh

* Bearish Harmonic would trigger around 8,085 (+/- 10pts) levels * 200DMA @ 8,102 * Overbought Stochastic > The formation negates above 8,135

bbrijesh

* Bullish Channel * Bullish Harmonic >> View negates on a close below 158

bbrijesh

The breakdown of 9 years trendline (marked red) is visible with a rise to retest it as well but bears feeble to capitalize the momentum. The stock has ended in red for four consecutive months (Aug-Nov) and slowly moving towards the previous month low (Nov low @ 795). The cautious sign for bears is 233WEMA (Weekly Exponential Moving Average) is placed at 813 which...

bbrijesh Updated 

* Support turns resistance (blue line) * Descending Broadening Right Angle Triangle * Ascending Triangle or call it as H&S >> Breakdown below 8,100

bbrijesh

* Harmonic patterns * Channel breakout retest

bbrijesh Updated 

An inversely related stock price action to index has witnessed a strong rally of ~40% since March 2016. After a small pause (consolidation), the price are showing sign of breakout. Looking at the RSI (Relative Strength Index), the breakout from falling trendline and bullish crossover on MACD indicates price is ready for the rally towards 460-500.

bbrijesh

* Cup & Handle

bbrijesh Updated 

The Bullish Harmonic pattern completes at ~170-171 levels where one can look for long opportunity. *The view negates on a break below 166.

bbrijesh

* Channel Breakdown & Retest (Green dashed line) * Diamond Breakdown (Black line) * Support zone breakdown (Red horizontal lines)

bbrijesh Updated 

* Bearish Harmonic * PRZ @ 8187-8194

bbrijesh

* Head & Shoulder

bbrijesh Updated 

* Bullish Harmonic > Longs around 430-436 zone > View negates on a close below 410

bbrijesh

* Do-or-Die level is 18,100 (Green line) * Bearish Candlestick @ 23.6% Fib retracement * Andrew's Pitchfork Bears can go short on break below 18,100

bbrijesh

* Descending channel breakdown * 50% Fib retracement

bbrijesh Updated 

The rally from ~7950 to ~8950 has taken 50 bars / 75 days and the fall from ~8,950 to ~8,000 is in equal time cycle. Relative Strength Index is trading at 2016 lows suggesting reversal on cards. I am expecting the reversal to take place either today or tomorrow. The setup would fail if Nifty closes below 7,900. The major trend change level would be only above 8,600.