Reliance can be a perfect sell for tomorrow and also for doing swing trade as the stock price pattern suggest many bearish formations visible on the following time frames: Candlestick formation on daily time horizon resembles bearish engulfing pattern. Here is the snapshot: 1.DAILY CHART PRICE PATTERN FORMS AB=CD PATTERN: 2.BEARISH BUTTERFLY FORMATION ON HOURLY
Read MoreJULY FUT of Nifty forms AB=CD pattern which is a harmonic price pattern which resembles downside for at least a week before july expiry. Here is the snapshot:
Read MoreJULY FUT of Nifty has given a breakout of a symmetrical triangle on weekly charts which shows a minimum upside of 11400 levels by the end of August… If we connect the tops and bottoms we observe many bullish price patterns occurring on the Nifty charts: All the price patterns are reflected on weekly time
Read MoreElliott Wave theory suggests that stock prices move in clear trends. These trends can be classifi ed in two parts i.e. A. Dominant trend (Five wave pattern) B. Corrective trend (Three wave pattern) A. Dominant Trend (Five wave pattern) Basically Dominant Trend consists of fi ve waves. These fi ve waves can be in either
Read MoreThe AB=CD pattern is easy to identify on charts and consists of 2 equivalent price legs.It has specific Fibonacci measurements of each point within its structure. The AB=CD pattern is one of the most basic harmonic patterns. Requirements of the AB=CD formation: AB should equal CD in terms of size. AB should equal CD in
Read MoreWolf Wave is a price action pattern that is made up of 5 waves which show supply and demand relation in terms of pricing movements which fights towards an equilibrium price. Bullish wolf wave normally forms in falling channels and bearish in rising channels. And to be considered a wolf wave, the following rules must be
Read MoreList of technical factors which reflects the bullish formation is underway: 1.On weekly charts the stock price is currently trading in elliots fifth wave. 2.Again on weekly charts the stock price is perfectly holding its 200 EMA and SMA levels which looks an automatic moving average on the charts as well. 3.Long term trend line
Read MoreAfter a sharp fall Nasdaq composite forms a bullish cypher formation which is also confirmed with a long term trend line providing a good support zone. Here is the snapshot:
Read MoreBUY ARVIND ON DECLINES AROUND 405 WITH STOP LOSS AT OR BELOW 397 CLOSING BASIS FOR THE TARGET OF 434,, AND IF CROSSES THEN 450 ALSO LOOKS QUITE POSSIBLE. Technical references which shows the relation for the above mentioned stock are as follows: 1.EQUITY ANALYSIS:Although deliverable quantity is not so good for this script but
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