An inverse and shoulder pattern is a sign of  trend reversal . But buyers   be cautious as  the prices are still below the long term 200 day EMA AND SMA. But it may be taken as a price target. Open Interest also increasing with the trend. Trend following indicator like RSI also showing zone shift

Banknifty futures starts to trade in NSE in around june 2005. I have taken the bottom from there and technically  I came to know about the perfectly matched ELLIOT WAVE IMPULSIVE FORMATION on monthly charts. After observation my recommendation that the 5TH wave now has completed the final target of 24000-24500 so if we find

GANN FANS AND ANGLES PROVIDES LONG TERM SUPPORTS AND RESISTANCE FOR A PARTICULAR PRICE MOVE. CYPHER SHAPES REFLECTS CONTINUITY OF PREVAILING TRENDS . GANN FANS SUPPORTS  IN COMBINATION WITH CYPHERS PRICE PATTERN IS A PERFECT TECHNICAL FORMATION. BANK OF BARODA REFLECTING THE SAME OBSERVATION ON WEEKLY CHARTS. SO CAN BE A GOOD BET TO MOVE

Ascending triangle breakouts are positive and have high accuracy level as they follow the prevailing trend. So GSFC in my opinion can be a perfect example as it resembles the breakout after taking the multiple supports. Indicators are also  providing confirmation to the pattern.As MACD giving a buy signal,MFI comparatively forming higher highs in relation

Bullish butterfly normally forms against the trend and i have selected IDBI after studying a lot in the markets. Stock price is holding its long term supports and also open interest building up with the price move.So a good script to bet on : My opinion is that it may test 65 levels on the

So here another bullish cypher in banknifty indicating that we are going to see more upside in it that can be upto 24000 approx in the near term. So buy signal already generated in it at around 23200 levels so from here a good upside is on the cards. Here is the snapshot: Views and

Cypher shapes basically represents that the prevailing trend to be continued as the  shape itself describes the support and resistance on a long term trend line. It is quite necessarily that the cyphers should be formed in the long term wedge shapes so that the long term trend line can provide a good support for

What is Bearish Butterfly? A Bearish Butterfly is a harmonic pattern which provides more accuracy comparative to classical shapes. The butterfly is a reversal pattern that allows you to trade at extreme points in terms of high and lows. The criteria for a Bearish Butterfly is that the prevailing trend of the stock price should

USD/JPY looking to take support at around 110.33 area as this is the fibonacci 61.8% retracement and also the gann fan support. So for short term traders its going out to be a trading opportunity but be cautious as below 110.30 we may see major fall . Here is the snapshot:

Cup with Handle pattern in an uptrend resembles that the trend continues.So any declines can be used to accumulate longs. Open interest and huge roll over figure also indicates that the prior trend continues. So buy on dips around 502-505 with stop loss at or below 480 closing basis for the targets of 540+++. Short