Instil The Principles Of Bhagwad Gita In Your Life Towards Path to Happiness
CHAPTER 2, SHLOKA 35
Click to enlarge
CHAPTER 2, SHLOKA 35
Click to enlarge
Disclaimer : These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.Consult your financial advisor only before you trade.
Nifty last week made a “Thrusting” candlestick pattern which is so called since it could not close above the halfway mark i.e 6292 of the black bearish engulfing Candle. .Thrusting pattern is actually a bearish pattern and selling will start once the low i.e 6129 is broken.For Nifty to be bullish it must close above 6416 on a weekly basis or should not close below 6129.
Weekly Bank Nifty has formed a spinning top.A spinning top at this level cannot be construed as bullish or bearish as it is a pattern of indecision.For longs stop loss is at a level of 11040 and for shorts it is at 12226 on a Weekly close basis.
TCS has formed a bullish Saucer pattern.Stop loss is close below 1970.
Nifty went up 250 points approx after it broke out of the triangle pattern.Current WEEKLY scenario suggests caution in the markets.Nifty has made a “Shaven Head” pattern which will provide formidable resistance.Resistance levels are 6343 and 6415 .Support level exists at 5972. I will post once any of these levels are broken.
Bank Nifty also went up after breaking the triangle and currently has reversed from there. It has formed a “Dark Cloud Cover” candlestick Pattern on the Weekly Charts .Resistance exists at 12226 and 11808.