Nifty has been experiencing low volatility on 30 min chart from last 4 sessions, so many concerns and apathy of bull riders are still there in market, let see what happens up or down for a while ..or else market will continue its vacillations.
The 45 min nifty chart of previous 10 days shows a significant strong pattern setup of bearish cypher pattern . where the ab retracement leg is 50% of the impact leg xa and so the bc projection is almost 127% of ab, according the chart pcz is in between 9610 to 9661 where the 9660 to 9675 has been a important price action when the nifty was range bound which...
Following the technical pattern formed in last 1 month i tried to plot bearish butterfly pattern in short time frame.
The point D @ high 1467
length XA =86.65
with the help of Fibonacci ratio calculation the initial TARGET 1 and and the TARGET 2 is shown in the chart.
it will be interesting to see the price action in the zone target 1 ,if the stock does not...
I AM NOT BEING OPTIMISTIC ABOUT THIS STOCK BUT ON 15 MIN CHART IT LOOKS ANOTHER BUYING CHANNEL MAY START FROM CURRENT LEVEL AND ONE THING WE ALL KNOW IT BAHUBALI 2 TARGET 1640 STOPLOSS 161O TO 1600 DEPENDS ON OPENING $
I JUST TRIED TO PLOT A BEARISH ABCD PATTERN ON LARGE TIMESCALE OF 1 YEAR...IF THE D POINT IS EXTENDED TO 162.2% OF AB LENGTH THE UPSIDE TARGET SHOWS ABOUT 208 TO 210...AFTER THEN A SHORT POSITION CAN BE MADE...UPSIDE RESISTANCE FROM HERE IS 196-210....
In last 19 session stock has run from 171 to 216, on 30 mins chart it seems like it has not stopped yet.according to the chart the stock looks like has made support at 208.lets see whether it can hold it or break it . target for next 5 to 7 session is 235 to 240.
AFTER FORMATION OF FLAGPOLE(DAY HIGH 1070 OPEN 1024) THIS STOCK LOOKS LIKE HAS SET TO GIVE A GOOD BREAK OUT FROM THIS LEVEL. THIS STOCK HAS BEEN IN THE FLAG FOR 8 WEEKS IT CAN NOW SHOW SOME DECENT UPSIDE MOVE FROM HERE ,STOCK CAN ALSO BE TRADED FOR INTRADAY. TARGET 1050 SL 993.
As government banning on sale of alcohol on major cites,highways, near hotels ect..some liquor stock can show some downtrend movement for a while.Have eyes on this stock..
united spirits, globus spirits,radico khaitan, United Breweries, gm breweries..
some of this stock will react on Monday.
THIS STOCK HAS FORMED A GOOD RECOVERY PATTERN IN LAST 4 MONTHS, THE STOCK IS UP 20,50 DAY MOVING AVERAGE AND TRYING TO MAINTAIN SUPPORT AT 5 DAY EMA AT 18.9..IF THE STOCK MANAGES TO MOVE ABOVE 19.10 IN NEXT WEEK THEN IT CAN EXPECTED TO SURGE ABOVE 20.10 .. HOPE IT HAPPENS .
AFTER A GOOD RECOVERY FROM LAST YEAR NOV TO FEBRUARY MONTH THE STOCK IS SHOWING A STRUGGLING NATURE TO FIND A SUPPORT AT NEAR 5.10 THERE ARE VOLATILITY TOO AT THIS RANGE. HOPE THAT STOCK CAN ESTABLISH A SUPPORT AT THIS LEVEL. THEN WE CAN SEE SOME PULL BACK.