PLEASE SEE MY EDUCATIONAL POST OF YEASTEDAY.
1 TODAY FORMED HIGHER HIGH AND HIGHER LOW 2 FACING RESISTANCE AT THE TREND LINE NOW 3 BANK NIFTY AND NIFTY MORE OR LESS SAME PATTERN IN WEEKLY TIME FRAME.(PLEASE SEE MY POST FOR BANK NIFTY) 4 IF IT FORMS AGAIN HIGHER HIGH AND HIGHER LOW AND TAKES OUT THE RECENT HIGH THEN HIGHER LEVELS MAY BE POSSIBLE. 5 THE OVER ALL PICTURE MAY BE CLEAR NEXT WEEK.
THIS STUDY FOR EDUCATIONAL PURPOSE. STILL ANOTHER STEP LOWER?
1 BULLISH SHARK PREDICTING CONTINUATION OF PRIOR BULL RUN. 2 POWERFUL HIDDEN DIVERGENCE BETWEEN PRICE AND OSCILLATOR (DIFFERENCE BETWEEN SLOPES OF THE LINES) 3 STOCHASTIC IS JUST EMERGING FROM OVER SOLD ZONE(IN WEEKLY TIME FRAME) 4 PRICE IS FACING RESISTANCE JUST AT THE TOP OF LEFT SHOULDER(IF WE LOOK FOR AND HEAD AND SHOULDER PATTERN) 5 WEEKLY CANDLE STICK MORE...
INFY IS TAKING SUPPORT AT THE TREND LINE ON WEEKLY BASIS IF IT BREAKS THE TREND LINE NEXT LEVEL OF 718 CAN BE THERE.
NIFTY IS LAGGING BANK NIFTY. NIFTY IT OBVIOUSLY UNDER PERFORMING. IT SEEMS THERE WILL BE A CATCH UP RALLY WITH BANK NIFTY. IN WEEKLY CHART THE STRUCTURE RESEMBLES ABANDONED BABY. LET US HOPE TODAY'S LOW IS NOT BREACHED. WILL UPDATE SUPPORT RESISTANCE TOMORROW DURING MARKET HOUR.
BANK NIFTY NOT SO FAR AWAY FROM ITS ALL TIME HIGH. IF WE CONSIDER THE WAY IT HAS BOUNCED. BULLISH SHARK PATTERN BOUNCED FROM 88.2% RETRACE MENT OF ITS EARLIER BULL RUN. NOW BETWEEN 78.6 % AND 61.8% RETRACE MENT OF RECENT CORRECTION. QUESTION IS WITH RECENT DECLARATION OF FINANCE MINISTER , CAN BANK NIFTY TOUCH ITS ALL TIME HIGH? IF TODAY'S HIGH IS CROSSED...
PLEASE SEE MY STOCK IDEA ON SEP 11. HERE ATTACHED WITH. IT TOUCHED AND RETRACED MAY BE GST HANGOVER
AFTER 6800 CALL JUMPED FROM 102 TO MORE THAN 250 MARUTI RETRACING . PERHAPS GST HANGOVER.
IT SEEMS NIFTY MAY CONQUER AT LAST 200 DMA 1 ST TARGET IN THE CHART.
RELIANCE HAS RESISTANCE AT 1192-1196 AND 1223-1226 IT HAS SUPPORT AT 1136 IT IS LIKELY TO VISIT THIS LEVEL IN NEAR FUTURE.
NIFTY HAS GOES DOWN TO 88.2 RETRACEMENT OF XA AND HAS CROSSED BELOW POINT B RESISTANCE FOR NIFTY ARE 10742,10828 AND 10871 SUPPORT FOR NIFTY ARE AT 10633, 10576 HOW EVER IF NIFTY CROSSES BELOW 10576 MORE CORRECTION WILL LEAD IT TO 10495.