Kaveri seed observed to have developed classic evening star pattern on 3rd and 4th august at resistance level of 780 followed by 3 black crow candles on 13 to 16 august showing clear signs of bearish reversal. Stock has honored the support level of 530 and may re-bounce back to its resistance level with hammer, bullish followed by inverted hammer candles. However...
Reliance industries observed to have shown classic inverted head and shoulder pattern with breakout candle after which there were some retracement candles but all were honoring underlying support with formation of hammer and now formation of 3 white soldier and breaking upper resistance. Classic example of continuation pattern
Indusland bank observed to be forming head and shoulder pattern with decreasing volume on each rising peak.It may breakout the neackline will go down 85 to 90 rs within 14 days.
Reliance industries has formed false inverse inverse head and shoulder pattern. with breakout of resistance at 2154 with bullish candle with good volume. However check its retracement with 2 red candles and one last bullish candle. All candles showing long upper candles which suggest bulls are getting weaker in breaking the resistance at 2200. Reliance
Thyrocare observed to be forming head and shoulder patterns with decreasing volume from left shoulder onwards. If it breaks the neckline at 976 it will enter into a downtrend.
TCS prices observed to be trending in a channel with an upper channel line parallel to the lower trend line. Recently Prices were failed to meet an upper channel line and then broken the lower trend line. The new channel is drawn suggesting a horizontal channel which may lead to a sideways trend before it may lead to a trend reversal. Need to watch this sideways...
Infosys will be bullish soon as it has enetered 2nd wave after which it will enter into 3rd impulse wave which will be bullish.
50 Day SMA is way above 200 Day SMA which signifies bullish pattern.
Once RSI enter range of 60 and MACD line crossing signal line will indicate end of 2nd wave and will start of 3rd wave.
Inverted head and shoulder pattern observed to be forming with MACD strength increasing. It may break resistance at 1452-1455 level and may go up 276 points up in 10 days time. Also 4th quarter results of HDFC showing good fundamental analysis,
