This blog is my trading diary. It is an attempt to organise my analysis and thoughts. I follow the charting methods given in JUST NIFTY blog by Ilango sir and so the charts would have striking resemblance to his charts. I am indebted to Ilango sir for having made this blog possible for me.
August 10, 2011
Bullish pattern in Tatasteel Day chart
Bullish Bat pattern has developed in Day charts.
XA = 714 - 448 = 266points
B = 575.2 = 50% retr of XA (approx)
C= 642.1 = 50% retr AB(approx)
D = 476 = 261.8% retr of BC
The 1st target for this bullish pattern is 38.2% retr which is 539. After this there might be a short dip upto 500 levels and again the uptrend would resume. This pattern is invalid if 448 is broken down.
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Harmonic patterns
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