A Head n Shoulder pattern is in formation so wait till it crosses above 907 to break this analysis or wait if it crosses below 835 then go short with the stoploss of previous high price. you will get handsome profit.
A Black Friday May be seen.
A perfect Head & Shoulder Pattern is appearing.
Sell Below 8990 with stop loss 9440 with target 8800-8750
after this a small bounce back upto 9000-9070 then free fall upto 8200-8150
All this analysis fails if Nifty crosses above 9585 (high of the Right shoulder)
This is for ONLY Educational Purpose.
Before taking any trade check...
Breakout without VOLUME seems "FALSE BREAKOUT"
This is will be proved when Reliance breaks down below 1460.
Right Issue will play it's Roll very well.
Below 1530 next target = 1330, 1250, 1210
Whole aforesaid theory will fail if Reliance crosses above 1650.
It will be weak below 1550
Reliance is in a range where it is in distribution or accumulation nobody knows. But there are 2 possibilites
1. Breakout : If it goes above 1500 with volume then buy it with sl 1440 target 1630-40 (Tough Possibilities)
2. Breakdown : If it goes down 1420 with volume then sell it with sl 1480 target 1270-80
Nifty is unable to close above Fibonacci Level .382 = 9390 which is a very crucial level for Bulls to hold as support to move next level .618 = 10530 and Bears have to hold as 9390 as resistance.
Bulls have tried and touched around 9900 but failed to close avove 9400.
Whenever a bearish rally reverse from .382 levels then there are most probable chances to...
Nifty is unable to cross 9400 decisively. Two main hurdles are lying here 1st.9380-9400 zone is Fibonacci .382 level and second long term trendline both are acting as strong resistance. If Nifty crosses above 9400 then it will try to to touch 9970. If Nifty breaks down below 8980 then it may touch 7800 or lower.
When Head n Shoulder Pattern Fails after breakout probably breakdown target gives double of target in downside. Before Shorting this take your financial advisor for risk associated. stop loss will be 1260
This rally is to exit whoever wants to.
9000 is a very strong resistance
9400 is fibonacci resistance.
Exit on every rise.
Lows will be broken 6000 level will be seen
if it not hold that level then 4600 will be the target.
We are in great bear grip.
Only for Educational purpose.
Price of silver had an upside breakout but failed to reach it's target 26.00
Coming of price aging in triangle pattern is very risky for long position.
A very grim situation may arise in silver if it breaks down 13.5 level.
Exxxxxxxxit all long below this.
Whole economic n financial picture is getting darker n gloomy day by day. So it is wise to stay on cash. Use every bounce in market as an opportunity to exit the buying position.
Nifty : 10400-10500 will act as a tough resiatance to cross over it.