NIFTY

 NIFTY IS GOING TO COMPLETE HIS 4TH WAVE. PRICE IS TAKING RESISTANCE AT 61%(5377-4769).

 PRICE IS SHOWING DIVERGENCE IN DAILY TIME FRAME. RSI 42 AND 14 IS SHOWING RESISTANCE AND SEEM LIKE DOUBLE TOP IN IT.
MACD IS SHOWING DIVERGENCE BUT JUST HAVE TO WAIT FOR CROSS OVER.

 PRICE IS NEAR TO 200 EMA LEVEL AND ALREADY TESTED IT. VOLUME IS IN DOWN SLANTING MOVE.
ADX IS IN OVER BOUGHT ZONE.

IF PRICE BREAK THE LEVEL OF 5145-50 THEN PRICE CAN FILL TWO RUN AWAY GAPS.

USDINR IS NEAR TO TREND LINE SUPPORT.













OVER ALL LESS POSSIBILITY OF BULLISHNESS.

NIFTY CHANNEL

 PRICE IS FACING THE RESISTANCE. BREAK OUT WILL DECIDE FARTHER MOVE.

targets if price the upper boundary - 5085-5122


otherwise, just trade with levels.

Reliance capital – hourly chart. Price, MACD and rsi 14 near to support.

Jindal steel – daily chart. Triangle break out in rsi 14 and 42. Target is lower boundary.

Icici bank – hourly chart. Forming H&S in price. But price showing trend line support as well febc price retracement of 61%.

MCDOWELL

hourly chart. Forming flag pattern with confirmation of volume, have to wait for break out. Head and shoulder is already formed with confirmed break out with tgt is 480-500.

Federal bank – daily chart. Forming wedge pattern.

Reliance- hourly chart. rsi is showing support. Price is also showing divergence.

L&T- hourly chart. support is near to 1110. Price is near to support. Have to wait for MACD cross over.

Jsw steel – 15 min chart. Showing gann fan support with the confirmation of rsi 42. Price is at middle boundary of channel.

Jp asso – daily chart. Showing sideways move. Trade with the levels.

TATA MOTORS

see the hourly chart. Price is at lower boundary with the support of 61% price retracement. Rsi also showing support with divergence.

RELIANCE INFRA

see the 15 min chart, chances of double bottom with the trend line support in MACD. Price is near to the middle boundary of a channel. Wait for crossover of MACD with pattern formation.

IBREALSTATE

see the channel in daily chart. Price is at upper boundary of channel which strong resistance with broadening pattern forming in price. Price complete the 161% time retracement and taken the support at 38% price retracement. Price showing resistance in rsi 14.

MARUTI

showing good support in daily chart. Macd and rsi showing divergence with the confirmation of trend line support.

BANK NIFTY

forming a right shoulder in daily chart. Support is at 9100. If price break the trend line then pattern target will 1400 points. Just wait for confirmation ie. Good volume with crossover of macd.

VIP INDUSTRIES- 1. Reliance capital – hourly chart. Price, MACD and rsi 14 near to support.

BHARTI AIRTEL

SELL BELOW NECKLINE(CLOSING BASIS)
PATTERN TARGET-310,295,280,260

MY REMINDERS

FEDERAL BANK