BEARISH VIEW: Breakdown below 18900 - would take it down towards 18800-750.
BULLISH VIEW- A typical Inverse Head and shoulder pattern has formed with breakout above 19100 SPOT LEVELS.
Showing posts with label Inverted H and S. Show all posts
Showing posts with label Inverted H and S. Show all posts
August 7, 2015
BANK NIFTY ANALYSIS
BANK NIFTY IS AT MAKE OR BREAK level. The Previous range between 19000 - 19800 has shifted to 19100-18900.
BEARISH VIEW: Breakdown below 18900 - would take it down towards 18800-750.
BULLISH VIEW- A typical Inverse Head and shoulder pattern has formed with breakout above 19100 SPOT LEVELS.
BEARISH VIEW: Breakdown below 18900 - would take it down towards 18800-750.
BULLISH VIEW- A typical Inverse Head and shoulder pattern has formed with breakout above 19100 SPOT LEVELS.
September 24, 2012
Analysis for Sept 24
Nifty had a huge Runup and has closed near the 52 week High. Now to charts:
NIFTY WEEK LONG TERM CHART:
Cluster of resistance at 5700 levels.
Considering the inverted H&S/Contracting triangle breakout - Nifty is likely to reach the CHANNEL TOP near 6100++ on taking out 5740 - previous High on a closing basis.
NIFTY WEEK LONG TERM CHART:
Considering the inverted H&S/Contracting triangle breakout - Nifty is likely to reach the CHANNEL TOP near 6100++ on taking out 5740 - previous High on a closing basis.
September 12, 2012
ANALYSIS FOR SEPT 12
Nifty Has closed near the High and has closed above all parameters in Month, Week and Day TF. With respect to the TA parameters Nifty is in complete Bullishness - may be a time to excercise some caution - b'coz Nifty is likely to face trendline resistance at 5410-20. REFER CHARTS OF SEPT 11.
MONTH CHART:
MONTH CHART:
September 11, 2012
ANALYSIS FOR SEPT 11
Today's Support - 20 DMA/Day HEMA - 5328-5335. An EOD close below this would drag Nifty Down towards Day LEMA/50 DMA - 5280-70.
Now lets see what charts say:
DAY CHARTS:
Now lets see what charts say:
DAY CHARTS:
August 9, 2012
Analysis for Aug 9
Intraday Update 3.00 PM:
Aggressive shorts booked Intraday at 5320NS/5340NF levels. Created Long at 5320 NS with SL EOD close below 5295 - 10 Points below 5EMA.
ANALYSIS FOR AUG 9:
A firm weekend closing and a Gap Up on Monday Aug 6th has firmly put Nifty on the uptrend path and the Bullish Bat Harmonic Pattern has got invalidated on a Move above 5349 and now it is either the the continuation of 5-0 Pattern - REFER JULY 31 ANALYSIS AND CHART (CLICK HERE) OR Development of Bullish Shark Pattern.
An Inverted Head and Shoulder has formed in the Day Charts and currently NIFTY is at the Neckline of the H&S.
INVERSE HEAD AND SHOULDER
If Neckline Resisted, then the Bullish Shark Pattern would be the result
If Breakout occurs then it would be the continuation of the 5-0 Pattern
MONTHLY CHART:
WEEKLY CHART: Currently resisting at Trendline/Contracting Triangle.
HOUR CHART : NIFTY within Channel:
SYNOPSIS:
Aggressive shorts taken at 5375NF today morning with 5405 NS STRICT STOPLOSS. - based on Trendline/Inverted H&S/Channel Breakout.
Supports can be expected at 5344 Ns -Month HEMA, 5330 Developing HEMA hence book out aggressive shorts intraday at these levels.
Positional shorts should be carried forward only on CLOSE BELOW DAY HEMA 5325NS.
IF EOD CLOSE ABOVE DAY HEMA 5330, THEN BUY AT 5330-40 LEVELS WITH STOPLOSS BELOW 5320 DAY HEMA
Aggressive shorts booked Intraday at 5320NS/5340NF levels. Created Long at 5320 NS with SL EOD close below 5295 - 10 Points below 5EMA.
ANALYSIS FOR AUG 9:
A firm weekend closing and a Gap Up on Monday Aug 6th has firmly put Nifty on the uptrend path and the Bullish Bat Harmonic Pattern has got invalidated on a Move above 5349 and now it is either the the continuation of 5-0 Pattern - REFER JULY 31 ANALYSIS AND CHART (CLICK HERE) OR Development of Bullish Shark Pattern.
An Inverted Head and Shoulder has formed in the Day Charts and currently NIFTY is at the Neckline of the H&S.
If Neckline Resisted, then the Bullish Shark Pattern would be the result
If Breakout occurs then it would be the continuation of the 5-0 Pattern
MONTHLY CHART:
WEEKLY CHART: Currently resisting at Trendline/Contracting Triangle.
SYNOPSIS:
Aggressive shorts taken at 5375NF today morning with 5405 NS STRICT STOPLOSS. - based on Trendline/Inverted H&S/Channel Breakout.
Supports can be expected at 5344 Ns -Month HEMA, 5330 Developing HEMA hence book out aggressive shorts intraday at these levels.
Positional shorts should be carried forward only on CLOSE BELOW DAY HEMA 5325NS.
IF EOD CLOSE ABOVE DAY HEMA 5330, THEN BUY AT 5330-40 LEVELS WITH STOPLOSS BELOW 5320 DAY HEMA
July 20, 2012
Analysis for July 20
BANK NIFTY WEEKLY CHART UPDATE:
Close below the TRENDLINE would pull Bank Nifty further down near the Base of the Triangle formed - and the Lead indicator alsois in favour of it.
If supported then, a very Big upmove is possible as the pattern is an Inverse H&S with slope tilting dwonwards. The Breakout will be very sharp.
ANALYSIS FOR JULY 20:
Nifty did not show strength in the upmove yesterday terminating at 50% retracement at 5258. The Breakout from the Falling wedge (CLICK HERE) was resisted by a channel.
Week Chart:
The Lead indicator has turned down and the break down of the Low of 5170 would be a channel breakdown, below Week 5 EMa, Day LEMA and 100 DMA.
With an EOD close below the week 5EMA 5220 and Day Lema of 5209, Nifty would get Bearish. The Longs are to be terminated at such a juncture.
Sell @ 5165 ranges with SL 5190-5220 EOD close.
Close below the TRENDLINE would pull Bank Nifty further down near the Base of the Triangle formed - and the Lead indicator alsois in favour of it.
If supported then, a very Big upmove is possible as the pattern is an Inverse H&S with slope tilting dwonwards. The Breakout will be very sharp.
ANALYSIS FOR JULY 20:
Nifty did not show strength in the upmove yesterday terminating at 50% retracement at 5258. The Breakout from the Falling wedge (CLICK HERE) was resisted by a channel.
Week Chart:
The Lead indicator has turned down and the break down of the Low of 5170 would be a channel breakdown, below Week 5 EMa, Day LEMA and 100 DMA.
With an EOD close below the week 5EMA 5220 and Day Lema of 5209, Nifty would get Bearish. The Longs are to be terminated at such a juncture.
Sell @ 5165 ranges with SL 5190-5220 EOD close.
| Developing Week Levels | |
| CLOSE | |
| PIVOT | 5223 |
| HI EMA | 5266 |
| LOW EMA | 5143 |
| 5 EMA | 5220 |
| 10 EMA | 5179 |
| PrevHigh | 5258 |
| Prev Low | 5169 |
| CHECK LIST-DAY | |||
| CLOSE | 5243 | 5 SMA | 5215 |
| PIVOT | 5245 | 5EMA | 5229 |
| HI EMA | 5253 | 10EMA | 5237 |
| LOW EMA | 5209 | 13EMA | 5234 |
| prev HI | 5258 | 20 Hr MA | 5215 |
| prev LOW | 5233 | 50 Hr MA | 5241 |
| 10 DMA | 5256 | 100 Hr MA | 5268 |
| 20 DMA | 5235 | 200 Hr MA | 5195 |
| 100 DMA | 5167 | ||
| 200 DMA | 5093 |
March 13, 2012
ANALYSIS FOR MAR 13
Intraday Update 12.45 AM:
Fast Rise Possibility in Hour Charts:
Intraday Update 10.20AM:
Possible Inverted h&S in the Hour Charts:
If resisted at 5430-50 levels then the Possibility of the Larger Inverted H&S would be Possible.
ANALYSIS FOR MAR 13:
Nifty has closed above the Day HEMA indicating Strength.
Bullish Crab Harmonic Pattern:
Development of Bullish Crab Pattern.
XA - 4531 - 5629
Current B - 5171 38.2% of XA - 5209 - DONE
Projection for C: (Holding B @ 5171)
38.2% - 5346
50% -5400
61.8% - 5454
78.6% - 5530
BULLISH factors:
Fast Rise setup in 5EMA, 10EMA and 26 EMA :
GOLDEN CROSSOVER OF 50DMA OVER 200 DMA :
50DMA Vs. 200DMA -
Fast Fall OR Bullish Golden Crossover???
50 DMA - 5161
200 DMA - 5168
GOLDEN CROSSOVER (CLICK HERE)
SYNOPSIS:
Trading above the 20 DMA at 5399 will be a Bullish sign. Intraday resistance can be expected at this range.
partbooking can be done at 5450 levels based on 61.8% retr. Intraday Longs can be initiated near 5350 levels with Day HEMA as SL.
Fast Rise Possibility in Hour Charts:
Intraday Update 10.20AM:
Possible Inverted h&S in the Hour Charts:
If resisted at 5430-50 levels then the Possibility of the Larger Inverted H&S would be Possible.
ANALYSIS FOR MAR 13:
Nifty has closed above the Day HEMA indicating Strength.
Bullish Crab Harmonic Pattern:
Development of Bullish Crab Pattern.
XA - 4531 - 5629
Current B - 5171 38.2% of XA - 5209 - DONE
Projection for C: (Holding B @ 5171)
38.2% - 5346
50% -5400
61.8% - 5454
78.6% - 5530
BULLISH factors:
Fast Rise setup in 5EMA, 10EMA and 26 EMA :
GOLDEN CROSSOVER OF 50DMA OVER 200 DMA :
50DMA Vs. 200DMA -
Fast Fall OR Bullish Golden Crossover???
50 DMA - 5161
200 DMA - 5168
GOLDEN CROSSOVER (CLICK HERE)
SYNOPSIS:
Trading above the 20 DMA at 5399 will be a Bullish sign. Intraday resistance can be expected at this range.
partbooking can be done at 5450 levels based on 61.8% retr. Intraday Longs can be initiated near 5350 levels with Day HEMA as SL.
| CHECK LIST-DAY | |||
| CLOSE | 5360 | 5 SMA | 5283 |
| PIVOT | 5369 | 5EMA | 5316 |
| HI EMA | 5327 | 10EMA | 5331 |
| LOW EMA | 5275 | 13EMA | 5338 |
| prev HI | 5420 | 26DEMA | 5314 |
| prev LOW | 5327 | 20 Hr MA | 5303 |
| 20 DMA | 5399 | 50 Hr MA | 5310 |
| 50 DMA | 5161 | 100 Hr MA | 5386 |
| 200DMA | 5168 | 200 Hr MA | 5370 |
| Trade Table | ||
| Current pattern | X-A | B(current) |
| Bullish Crab Pattern Developing | 4531-5629 | 5171 |
| Trade initiated | SL close below Day HEMA 5327 | |
| Bought at 5180NS | Proj for C | |
| 38.20% | 5346.00 | |
| 50.00% | 5400.00 | |
| 61.80% | 5454.00 | |
| 78.60% | 5530.00 | |
| Booked shorts on 7th mar and initiated Long | ||
| IMPORTANT TA parameters for projections | ||
| 50.00% | 5400.00 | Month HEMA |
| 61.80% | 5454.00 | Week HEMA |
| 78.60% | 5530.00 | |