A head and shoulder pattern in the prevailing uptrend always resembles a good potential for the upward movement. Nifty futures also broke its neckline above 10580 levels so any declines should be used for accumulation and we are expecting a minimum of 10830 levels on the higher sides. Stop loss for the position will be
Read MoreA bullish cypher is a harmonic pattern which need to observed only in the prevailing trend to be continued in the future. Infosys has formed a bullish cypher pattern visible on monthly time frames also which too provides more significance on the price. A long term trend line also holding the prices at the bottom
Read MoreBPCL showing a selling opportunity as the prices confirming a downside. Technical factors confirming the downside are as follows: Break down of a trend line on weekly charts. Candle stick analysis pattern on weekly charts indicating a sell signal as the prices are closing below previous weeks closing of 515. Length of the stick also
Read MoreBuy Bank Nifty as its holding 24800 level which is the top of first wave and now according to Elliot Wave rule that it will not break the top of the first wave. Also the trend line providing a good support. Indicators short term and long term showing buy signals.
Read MoreA bullish bump and run reversal is a typical shape of a sliding pan and then the price forms a round and gives a breakout above the sliding resistance trend line with volumes spurting in the direction of the trend. Just Dial too has formed a similar pattern on hourly charts although the stock has
Read MoreA rising wedge is bearish in nature as the prices always forming higher tops and higher bottoms within a particular wedge shape or in between two support and resistance trend lines. There are two types of wedge shapes as a parallel wedge and a rising wedge when the two trend lines converge each other as
Read MoreA rounding shape in an uptrend is always going out to be strong formation as its actually following the prevailing the trend. Rounding shapes normally occurs before the stock price would like to resemble the new leg of an another rally. So its going to be the confirmation for the new uptrend continuation. Round shapes
Read MoreLICHSGFIN: Sell at around 610 stop loss at 620 for the minimum target of 560. Time:10-15 days. LICHSGFIN has formed the head and shoulder pattern on the daily charts which resembles the sellers taking the command on the price. Also on weekly charts prices formed a descending triangle which has already broken below 610 levels.
Read MoreAfter a good bull run now SGX NIFTY indicating signals of selling opportunity.After placing the support and resistance on the charts I have observed the intersection point which will create a stiff resistance for the market price at around 10400 levels. Moreover , Gann Angles breaking below 10400 levels and now will act
Read MoreA Head and Shoulder pattern formation in a prevailing bullish trend is a sign of reversal or at least a temporary sell off as its basically a reversal formation of the existing trend. Why I am suggesting a temporary sell off ? Because in technical analysis if we observe any price pattern which is in
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