]MARUTI : 6762.50.[/b
Candle pattern: Possibility of ]EVENING DOJI STAR[/b (Bearish)
Indicators: ADX, RSI, W%R & some other Indicators are OverBought.
Volume: Much Below 20 day AVG. & -12.44% compare to Prev. day.
WAVE Count: Today Already achieved 2.272 Fib. Retracement (WAVE - 5)
GAP: Bullish GAP formed on 02 May 2017 (@ 6589.90 to @ 6618)
DRREDDY Positive BREAKOUT soon
DRREDDY: @ 2583 Range bound trade in couple of Week.
Correction OVER .
Positive Divergence in RSI, W%R, MACD, CCI, Stoch,
Divergence Type Start Date Closing Price Indicator Value End Date Closing Price Indicator Value
RSI 2/5/2017 2582.65 35.88 9/5/2017 ...
COALINDIA Long UPSIDE Ahead
Coalindia trading @ 277
Forming Double BOTTOM (Follow Chart)
Typical H- Pattern.
Consolidated in Between @ 270 - @ 285 Zone.
Also having Bearish GAP.
Can consider short term 7% -12% upside.
NTPC: LTP @ 160.45
Taking Support near 0.618 fib retracement @ 160.2
Made a LOW @ 159.85 5 min Candle at 9.50 AM
& Above Previous day LOW @ 159.75 (Opening 5 min Candle of 08/05/2017).
So HL formation till Now.
Today Made A HIGH Above @ 161.30 HH also formed.
Some Indicator also are in OverSOLD.
Near 200SMA @ 425 and END of Wave-2 i.e. 61.8% Fib Retracement ( Crucial Support)
Point 2 = 0.618 of WC to 1.
Long Entry be Initiated @ 428 - @ 418 Level for 7% to 12% Gain
TGT Levels: @ 443, @ 448, @457, @ 463, @ 477+
Major indicators are OVERSOLD.
Gap UP opening also Possible If Market sentiment is not too Bad.
NIFTY PHARMA INDEX: 9 months DN trend nearer to an END.
As it is Defensive Sector, When NIFTY in Correction / Range Bound Mood.
History suggests PHARMA, FMCG Sectors Shows Pullback Action.
Watch ADX/(-VE)DI Cross Over (Nearer , Not Happened till now) in Favour of Pullback.
Chartically AUROPHARMA, CADILAHC, CIPLA, DIVISLAB, SUNPHARMA, LUPIN Looks Good.
Tech Mahindra : As per "Ichimoku Kinko Hyo"
Tenkan-sen (Trigger / Conversion line) turn to Upward Direction
& Kijun-Sen (Base line) turrn to Dnward Direction, thus Gap decreased.
Witnessing Range Bound UP side, Where Kijun-Sen (Base line) Treat as RESISTANCE.
H-L analysis signals Breakout AS RANGE Decreasess.
VOL also suggests not much DN Side.
Detailed Analysis plotted in Chart.
Combination of HARMONIC & Fib Retracement.
Take Support from @ 548+ Level
in WAVE - 3 Count it is GOLDEN RATIO of Fib Retracement i.e 1.618 Level.
TGT: Watch Fib Levels mentioned in the Chart.
If RCOM Hold 32.90 - 33 upto 1.30 pm Reversal seen in 15 min Candle Chart.
There is possibility to U-Turn to @ 33.30, @ 33.6+ Levels.
BULLISH Morning Star Pattern Will Form.
1% to 2% may Happen during the Day or Next day.