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Explained in Charts
Explained in charts ...
A break and close below the neckline opens up target towards 11100 levels ....
A break and close above neckline would confirm the pattern. The target for the same will be 298 and stop will be below 240 on a closing basis.
A break and close above the neckline will result in a Inverted H&S target of 2765 with a stop below 2600.
Explained in Charts . A hourly close above neckline is a must.
Explained in charts
RELIANCE has given breakout and weekly close above 1000 levels. This opens up potential upside target of about 1450 in coming weeks. A close below 960 on weekly basis can be used as stop.
Range Bound ... Can initiate shorts with stop above 1000 on closing basis for target of 880
A divergence seems to be happening.
A break and close above 316 on hourly basis can confirm Inverted head and shoulders. The target for the same would be 340.
The first support for BANKNIFTY comes at 25700 levels . This can be used as a buying opportunity with a stop below 25500 on closing basis.
Looks like today's rally was a re-tracement to the breakdown in daily charts. A close above 24500 (spot) on daily charts can be used as stop by shorts.
Explained in Chart
Explained in Chart. Confirmation awaited.
Added as note in chart.
The S&P500 futures in hourly time frame has given a strong divergence in oscillator, indicating the market might bottoming out. Though it is very early, the setup indicates a good chance for bulls to charge again and the break above neckline would confirm a double bottom.