Reversal likely in the forth coming weeks. The bottom has either been made or shall be made shortly.
At the day end TATA Motors likely to observe a bearish abandoned baby candlestick pattern. This is super rare in trading technical charting and might mean soon coming down fall. However one thing to be noted is that the ichimoku is forming bullishTK crossover above the cloud which is strongly bullish. The downfall to come might just be a quick retracement...
NTPC short intra-day almost certain
There are just too many factors indicating the uptrend. The 25.60 is a vital fractal by williams and the level and is being taken out. The Senkou Span B will observe a steep fall as the values starting 4th Sept (being the 52nd day in the past) will be wiped out. Senkou Span A being the average of Tenkan sen and Kijun sen will rise resulting into a Kumo...
Tata consultancy services is extremely polish based on hourly cup and handle pattern formation. The prices will break out of the pattern and the chikou will break above the prices.
RSI regular bullish divergence Ichimoku kijunsen pull back
RSI bullish divergence shows reversal pattern.
Chikou has crossed the price line from below. Price breaks out from Kumo. Tenkan sen kijunsen crossover likely.
The analysis is based on hidden bearish divergence on RSI. Ichimoku components are bearish and price is facing strong resistance from Kumo. a bearish cross over of tenkansen and kijunsen highly probable below the cloud which is a very strong signal of the bearish sentiment.
Based on regular bearish RSI divergence on hourly
Hidden bullish divergence on RSI reflects trend continuation. Ichimoku cloud breakout on hourly.
All ichimoku components aligned.
RSI hidden divergence is bullish. Ichimoku colour breakout and retest has recently occoured