NIFTY MONTH CHART;
NIFTY WEEK CHART:
August 17, 2012
Analysis for Aug 17
Nifty has reached the RESISTANCE POINT of the weekly/Monthly chart with a High of 5398. It also coincides with the 113% retrcement of 5349-5032 - Develoing into a BULLISH SHARK PATTERN (Click Here).
NIFTY MONTH CHART;
NIFTY WEEK CHART:
NIFTY MONTH CHART;
NIFTY WEEK CHART:
August 13, 2012
Analysis for Aug 13
BANK NIFTY DAY CHART:
BULLISH GARTLEY PATTERN IN BANK NIFTY:
Bullish Gartley Pattern:
XA - 9622 - 10782
B - 10056 - 61.8% retr
C - 10640 - approx 78.6% retr of AB
Holding C, Proj for D:
61.8% - 10279 - DONE
78.6% - 10180
88.6% - 10122
113% - 9980
The Trendline Has been Broken downwards - signalling more downsides to come - towards the CHANNEL bottom. If Bank Nifty moves above 10355 the it would agan creep back above the Trendline to Triangle Top.
Till 10355-370 is taken out EOD more downsides will follow.
NIFTY HOUR CHART UPDATE:
BREAKDOWN OF THE CHANNEL WOULD LEAD TO MORE LOWS.
An EOD close below 5300 - below day 5 EMA/Day HEMA would lead to more lows and the Bullish Shark Pattern (CLICK HERE) is likely to continue. So at such juncture the Longs are to be terminated and Fresh Shorts taken with SL above Day HEMA.
BULLISH GARTLEY PATTERN IN BANK NIFTY:
Bullish Gartley Pattern:
XA - 9622 - 10782
B - 10056 - 61.8% retr
C - 10640 - approx 78.6% retr of AB
Holding C, Proj for D:
61.8% - 10279 - DONE
78.6% - 10180
88.6% - 10122
113% - 9980
The Trendline Has been Broken downwards - signalling more downsides to come - towards the CHANNEL bottom. If Bank Nifty moves above 10355 the it would agan creep back above the Trendline to Triangle Top.
Till 10355-370 is taken out EOD more downsides will follow.
NIFTY HOUR CHART UPDATE:
BREAKDOWN OF THE CHANNEL WOULD LEAD TO MORE LOWS.
An EOD close below 5300 - below day 5 EMA/Day HEMA would lead to more lows and the Bullish Shark Pattern (CLICK HERE) is likely to continue. So at such juncture the Longs are to be terminated and Fresh Shorts taken with SL above Day HEMA.