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Learning Bat Pattern
B is at least 50% retracement of XA leg, should not close above 50% retracment
C is at least 61.8% retracment of AB and no candle should close beyond 88.6% retracment
D is at 161.8% extension of AB
Target1: 38.2% retracemnt of AD leg
Target2: 61.8% retracment of AD leg
Learning gartley pattern
'B" is at least 61.8% retracement of XA should not touch or close above 78.6%
"C" is at least 61.8% retracement of AB leg should not tuch or close above 78.6
"D" the entry point is at 127.2% extension of AB, which in this case comes out to be near 495.
I doubt it will come there .
Will monitor this as long as point C holds true
Although Nifty is moving in downward channel , taking a short/long position now will be a bit risky.
Monday i.e 24th closing will decide the trend
Buy at 1020
1st Target 1060
2nd Target near 1090
Initiated a Short position at 1572 for a target of 1450
Charts tells everything ... so true with this one
Moving in channel . expect a target of 19700 with a stop loss of 19460
No breakout yet in HINDUNILVR
Hitting the 1st support level
Buy : Above 50.50 (daily close, and sustains 50.50 for couple of days)
Stop loss 35
Time frame : 4-5 months
Buy Price : 314
Stop loss 310
Buy : 160
Stop Loss: 150
Duration 2-3 weeks
A good cypher pattern establishing on SBI .
It ticked almost all the rules
point 'b' should not close below the 618 retracment(x to a) ,point c should not close above 1.414 (Fib extention x to a and a to x) ) and entry point 'd' should be at 786 (x to c) fib retracement which comes out to be 253.20 .
Place a buy at 253.6 with a stop loss at 251.89
I had taken the short position based on Head and Shoulder pattern couple of days back.
Need Advise if the charting was correct or it was just a luck
Short ICICI at 260 for a target price of 240/245
ITC is showing very good strength at around 238 levels . A perfect buy at 238 for a target of 254 in few weeks.
didn't breached the support level of 3100 , upward momentum is likely to continue
TCS is nearer to its strong support of 2330. Buy with an intraday target of 2442 with a stoploss of 2285.
This is a pure support/resistance play.