MOIL : HARMONIC REVIEW

• Moil possess a long term Bullish BAT Pattern Formation on its weekly chart.
• Price action was seen stabilizing near its .886 retarcement , which is the most important number in the pattern prz area.
• CONTINUE READING

Nifty Harmonic Review

Considering a great downside momentum in the markets, I could see few harmonic probabilities on nifty daily charts.

• First probability I see is butterfly pattern,  suggesting  7549, 7447, 7323, 7282, 7235, 7047 as important supports: 
• Second Probability is abcd extension pattern, suggesting 7555, 7356.90 as  important supports 
• Third Probability is Three drivers pattern, most important one because it starts from the high made by the index, suggesting 7335, 7254, 7222, 7084 as important supports.

All these Probabilities create Imp Support zones: 

• 7555-7549
• 7356-7335-7323
• 7254-7235-7222.

Valecha Engineering Ltd: Harmonic Review

Bullish Cypher pattern is clearly visible on its weekly and monthly charts. ( Charts herein-below)

Stock consolidated near cypher prz area from past 3 months.

Hence buy on dips strategy can be opted as long it trades above cypher prz area.

Any close below prz area, would negate the said pattern

Resistance: 57, 63, 75, 86, 95.

Supports:  43-42, 37, 30, 18.

Munjal Auto: Excellent example of Fibonacci .618 Retracement

Today we have a weekly chart of Munjal Auto.

This chart is an awesome example of bullish .618 retracement, the stock continued taking its support every it falls from the higher levels, as you can see it tested this retracement for about 4 times hence confirming a great demand zone.

From early August, 2013 stock started rallying from 26.2 level and its amazingly rallied over 441%  in just 15months.

After marking a high at 134 level in early November 2014, stock started selling -off and found support near 66.59 which is the .618 Fibonacci retracement of its massive rally from 26.2  to 134 levels

Initially, the stock immediately reversed after testing this support, however, unable to see follow up and this way tested this support approx 4 times.
However, the amazing part the stock witnessed that it wasn't ready to give up this support and was respecting it every time it came near it, this stock clearly dictates the relevance and importance of Fibonacci .618 retracement.

 This time stock clearly shows the reversal off the .618 retracement by rallying aggressively in one direction. It may be a signal of continuation of a new uptrend.

However follow- up move is necessary to see it testing previous highs and making new highs as well.

IBULHSGFIN: Harmonic review

Indiabull Housing Finance Weekly chart has bullish bat pattern probability.

Further supports are at 585- 582, 556, 552.64, 474-470

Resistance are at 604, 650 levels.

Its daily  chart has bullish bat pattern and prices are at  its prz level ie. 597.14.

Hence, any bounce from this pattern can be treated as an opportunity to sell.

Near-term support 597, 592.42, 590.

Near-term resistance : 617, 620, 630, 638, 650

Nifty Intra has two harmonic probabilities:

Bullish Shark: Probable targets, 7731, 7718.8, 7695

Bullish ABCD: Probable targets 7638, 7624.9

INFY: HARMONIC REVIEW

Infy Daily Chart has two harmonic pattern  probabilities.

Both of them providing same prz levels.{994-993}

ASTRA MICRO: HARMONIC REVIEW

• Astra micro Daily chart possesses probability of Bat Pattern
• I have marked the said probability by XABCD points, 
• If unfolds can take stock to the levels of 152, 158.
• Near Term Supports for the stock is at 133, 125
• Near term, Resistance is at 141.
• Stop loss is at 125 levels.

HINDUNILVR: Harmonic Review

• Hindustan Unilever weekly chart has bullish Gartley Pattern.
• The Stock is consolidating from past 10 weeks and is trading in between 61.8% and 78.6% retracement of pattern XA leg.
• Hence stock is stucked in between 813- 767 levels.

DR REDDY :HARMONIC REVIEW

Dr Reddy daily Charts had Bullish Shark Pattern, and prices seen bouncing from its prz area{ 3393-3189-3123}

Dishman Pharma: Harmonic Review

• Dishman Pharma Daily chart possesses probability of Shark Pattern.
• I have marked the said probability by Red lines.
• If unfolds can drag stock to the levels of 292, 280, 260, 244.
• Near Term Supports for the stock is at 320, 310, 280, 270
• Near term, Resistance is at 331, 338, 341, 368.

ICICI BANK: HARMONIC REVIEW

ICICI daily Charts had Bullish Cypher Pattern,  and prices seen bouncing from its prz area{ 256}

I could see further  harmonic pattern probability, if unfolds can take stock to 284-286 levels, provided stock sustains above 266 levels.

However, any Break below 256 levels could trigger further selling in the stock.

MIND TREE: PRICE PATTERN

• MindTree Daily chart possesses probability of Gartley Pattern.
• I have marked the said probability by XABCD.
• If unfolds can drag stock to the levels of 1354, 1346, 1341, 1327.
• Near Term Supports for the stock is at 1444, 1397-1395.
• Near term, Resistance is at 1372-1375, 1495.

Monthly Chart

Bullish Engulfing on Nifty: Is the short term bottom made

Today, Nifty seen a gap down opening, however, sell-off encountered near 78.6 Fibonacci Retracement[ 7710] of its previous rally from 7539 to 8336 levels and recovery rally was seen.
Nifty closed near Day's High, forming Bullish Engulfing Candle, which engulfed entire previous Doji candle.

According to hourly harmonics, Nifty reversed from shark prz area.( as discussed in the previous review)

Considering the above Technicals, a question arisen, Is short bottom is made?

Continue Reading

Happy Deepawali..

🎊💥💫🌟✨🎊
α ƒєsτıναℓ ƒuℓℓ
Ŏƒ sωєєτ мємσяıєs,
sκy ƒuℓℓ σƒ ƒıяєωσяκs,
мσuτн ƒuℓℓ σƒ sωєєτs,
нσusє ƒuℓℓ σƒ đıyαs
              αиđ
нєαяτ ƒuℓℓ σƒ jσy.
ωısнıиg yσu αℓℓ α νєяy
  ❤нαppy đıωαℓı
       🎊✨🌟💫💥🎊

Nifty Harmonic Review, across different time frames

• Nifty intra 15 min charts had reversal from bearish gartley pattern ( Prz 8113.81).
• Now i could see it forming shark pattern, however sustaienenace below 8030 levels are required to unfold the said probability.
• Shark pattern suggesting 8009- 7980.50 as its prz area, from where short term reversal can be seen.
• 7980 could serve as an important support in the near term scenerio.
• This chart also has bullish abcd pattern suggesting 7964-62 as its prz area.
• This shark pattern can be traded keeping stop loss at 7960 levels.
• Further support is at 7846.
• RSI at 30.3

-----------------------------------------------------------------------------------------------------------------------

Coming on to hourly chart:-

• On hourly chart, nifty is trading within a up-sloping channel, and is near to the lower band of the channel.
• So its important to see whether prices will take support at the lower band or break through it.
• Hourly chart has gap support zone at 8005-7958.70.
• I could also see a probability of shark pattern on hourly chart also, if unfolds, can drag index to 7764-7607 levels, however this probability will unfold only if decisive break below 7960-7940 levels is seen.
• RSI at 37.9
• ------------------------------------------------------------------------------------------------------------------

Coming onto Daily chart:-

• On Daily charts, past two candles are overlapping side by side candle, whereas prices tried to cross 8088 levels, but unable to close above it.
• In today's session index close under important 8055 levels. 
• However index is near two month demand trendline, however any close under the tredline would negate the trendline support.
• RSI is at 45.4.
• Imp Support Levels: 8055, 7691, 7539.
• Imp Resistance Levels: 8088 , 8244.

------------------------------------------------------------------------------------------------------------------------

Moving onto Weekly chart:-

• On weekly Chart, index is trading in a down sloping channel.
• Last week candle was a bearish engulfing at channel resistance band.
• Imp support levels are 7940, 7540.
• Imp Resistance levels are 8654.
• RSI is at 46.3

NIFTY TECHNICAL REVIEW

Nifty daily chart witnessed tweezer pattern, wherein prices held twice at the exact same level, it essentially indicates very short-term double top wherein bulls were unable to drive prices higher.

However, High formed by the two candles should hold therefore it is important to carefully watch the price action that occurs immediately after this tweezers Pattern.

Near-term Resistance is at 8294 levels.
Near -term Support is at 8225-8200 levels.

Let's move to the weekly chart:

Nifty is trading in a downsloping channel.

The Lower Top Lower Bottom formation is intact as yet.

Last week candle is Dragon fly candlestick pattern which is formed near 8250 resistance level, adding a caution for the existing longs.

The Further Weekly Resistance is at 8327-30 levels.

ONGC : HARMONIC REVIEW

• ONGC has Bullish Harmonic Pattern named ALT BAT on its Weekly  chart.
• Stock has already bounced from its prz area.ie. 203-225, however, any dip can be utilised for buying.
• Any Close below prz area would the said harmonic set-up.

Near-term supports are at 248, 233, 225

Near-term resistance is at  264-270, 285 

OIL INDIA LIMITED: HARMONIC REVIEW

• Oil India has Bullish Harmonic Pattern named Shark probability on its Weekly  chart.
• Currently, Stock is trading its prz area. i.e. 382-443.
• Any Close below prz would the said harmonic set-up.

Near-term supports are at 415-412, 405-400.

Near-term resistance is at  456, 470, 484, 503.

RELIANCE : HARMONIC REVIEW

• Reliance has Harmonic Pattern named ALT BAT probability on its daily chart.
• Follow up Price Action in the direction of said probability will be  important for  determining the future trend of the stock.
• Buy on dips strategy can be opted in the stock as long as it trades above 900 levels.

Near-term supports are at 944-955, 900-920.

Near-term resistance is at  972-974, 1014-1018.

Aditya Birla Nuvo Ltd:Harmonic Review

A bearish Gartley Pattern was seen on Abirla Nuvo charts.

Stock was seen making bearish candles at gartley prz area.

Continue Reading

Nifty Harmonic Review

In our previous review, we have discussed the range created in the index, this week, we  have seen an upside breakout from that range, thus the upper band of that range( 8060) could serve as immediate support for any pullback rally if seen.

Now let us review harmonic probabilities on daily charts.

On daily chart, index has two harmonic pattern probability:

Continue Reading

Tatamotors : Harmonic Review

The price action on Tata motors weekly charts, after violating its 1.618 projection, had tested its extreme 2.24 Fibonacci projection and quickly reversed therefrom.

This 2.24 extreme projection are quite important for gauging trend reversal, hence price action at these numbers are very important to watch, as reversals from these numbers are usually quick and fast.

 Continue Reading

RPOWER :HARMONIC REVIEW

RPOWER :HARMONIC REVIEW

REVIEW 1:

Post dated 10th Sept 2015: In our weekly harmonic review, we found bullish abcd pattern on Rpower weekly  chart, wherein we were expecting a bounce from its prz area, As expected prices reversed exactly from its prz area,

This entire pattern completed in 3.5 years. which is an important time cycle, hence this pattern provided us with an important support zone.

REVIEW 2

Post Dated 21st Sep, 2015: We found Bearish Bat formation on its daily chart, wherein we warned that stock is approaching its critical resistance area i.e 43.8 – 46.40, and longs should look for booking profit near these levels.

As expected stock, in today’s stock tested pattern prz area, and closed in red.

Hence Sustenance above 47 levels can only trigger further buying in the stock, else we could see stock testing 39-40 levels on the lower side.

Nifty Harmonic Review

Nifty daily chart portray’s consolidation range of approx 520 points. The Index stuck in this range[8060-7540] from the past one month.

Index tested twice resistance[ lower band of  Falling Gap( 8255-8060)].

Index even tried to hold previous swing low support zone [ 7760-7800]

Further Daily support are at 7540-7590].

Hence, it seems to stay range-bound unless we see a breakout from this range[ 8060-7540].

——————————————————————————————————————————–

Let's move to the hourly chart for grabbing harmonic probabilities.

Read More

Glenmark Harmonic Review

• Glenmark Monthly charts registered the high of 1262.90 in August 2015.
• September candle didn't saw a new high, in fact, seems to close under august 2015 opening price, forming the Bearish engulfing pattern.
• However currently stock is standing at its Monthly support zone of  996-985.
• Only a break below, these said levels can confirm short term weakness indicated by the Bearish engulfing pattern.
• Further monthly supports are at 887, 829-824

Let's move to the daily chart for spotting harmonic probability for capturing this short term weakness.

• The daily chart is suggesting Bullish Gartley pattern, prz of which is at 915-914.
• However, the stock is holding 989 support levels from past 14 sessions, Similary facing resistance around 1042 levels from past 14 sessions, hence it is stuck in the range of approx 50-55 points.
• Only a break below 989-985 levels could unfold the Gartley probability suggested by daily charts.Ho
• However break above 1042-50 levels would be signal of resuming its uptrend.  

Tata Motors Approaching Monthly Supports

Tata motors registered a historic high of 612.45 in February 2015.

This high was made via large spinning top candle on monthly charts having long lower and upper shadows, followed by a bearish hanging man candle in march 2015, which unable to make another new high and closed below the February candle closing, indicated weakness has creeps in the stock.





If we observe monthly charts, we will see every monthly candle thereon is making lower high and lower low formation and as yet stock had registered 7 continuous lower high, lower low candles on monthly charts.

From all time Highs, the stock has eroded approx 53.2% of its value.

The stock even saw this month a breakdown from a long  term up sloping trend line connecting lows of Feb 09 and Sep 11.

And now on also, we do not see any signs of reversals on the charts.




However, the stock has a cluster of supports coming by:
Monthly supports: 274- 264, 249-236.
Monthly resistance: 317, 374-388.
Weekly Support: 290-292.
Weekly Resistance: 325-330.
_________________________________________________________________________________

Let us move to the daily chart:

Recent daily structure suggested bullish shark probability on daily charts, however, prz of which is violated in today's session by a long bearish candle, which almost closed near its low , indicating further weakness is also possible in the coming sessions also.

NOW, If prz area of the said bullish shark acted as resistance, then we could see stock unfolding to the levels of 266-64.

RPOWER : HARMONIC REVIEW

RPOWER : HARMONIC REVIEW

RPOWER : WEEKLY HARMONIC REVIEW

RPOWER : WEEKLY HARMONIC REVIEW

YESBANK : HOURLY HARMONIC REVIEW

YESBANK hourly chart suggesting a harmonic  pattern probability.

• Bat Pattern.

If Bat pattern unfolds , stock may see  775-780 levels in the coming sessions.

Since Bat pattern poses major resistance at 760-780 levels, Price action at these levels will be crucial to watch, which will further determine, whether stock will continue its  recent upward rally [started from 596 levels] or reverse therefrom.

Therefore let the stock test its prz area  and watch price action near it.

Stop loss for this pattern can be place few ticks above prz area or at 800 levels, for a initial target of 705 -700.

ARVIND LTD: HARMONIC REVIEW

I have spotted and marked  the Bearish Gartley on the daily chart of Arvind.

X is at 296.95

B is at 237

C is 276.65

and D is 284.12

The AB retrace of XA is 62%.

The BC retraces 61.8% of AB.

Pattern Potential Reverse zone is at 282.65 -284.12.

Harmonic Resistance stands at 292.5-293.5

Harmonic Support stands at 274.

Any close above Prz would negate the said pattern.

Since Gartley pattern is a retrace-ment  pattern which usually retraces part of its previous trend, hence any close below pattern lowest point , would trigger fresh weakness in the stock.

ASHOKLEYLAND: MONTHLY HARMONIC REVIEW

• Share on LinkedIn
• Share on Facebook
• Share on Twitter

Ashok leyland Monthly chart possess bearish shark.

Spinning top Candlestick pattern is seen in the PRZ  area.

Hence adding caution for the existing longs in the stocks.

Sustenance above 91 levels can only trigger fresh buying in the stock.

https://www.linkedin.com/pulse/ashokleyland-monthly-harmonic-review-manurika-agarwal?trk=pulse_spock-articles

Tatasteel harmonic probabilities