HAL Bearish Gartley and Bearish Deep Crab pattern Terminal BARHAL is on Harmonic Resistance and a Reaction is possible.
Two Patterns are in progress.
(1) Larger scale Gartley Pattern with Level Hit and terminal Bar in progress today. SL for Gartley is FIB Level 1 of XA Leg. (This pattern is more visible on Weekly and Two Day Chart)
(2) Smaller Scale Crab Pattern with Fib Level Hit and Terminal BAR Completed today (This pattern is more visible on 4 Hr 6Hr and Daily)
We always play for Type-1 Reaction and we still wanna wait for Some sort of consolidation breaking down, Bearish DIV in RSI or W pattern in RSI or Reversal Candle with Volume Supported Move.
Again- Harmonics are just a way to find where Reversal comes but trend is always super and we can clearly see that trend is up and bullish.
harmonictrader.com
harmonictrader.com
Niftyindia
Nifty Review and Analysis for 10th August 2021Nifty has been trading between 16200 to 16300 from last 4 trading days. On 9th August it came for selling first from 15300 to 16236 then 16265 to 16175. As I said earlier selling is expected below 16300 and below 16236 Nifty can come up to 16145 and on 9th august it came to 16175, 30 points difference.
Earlier I said that the Idea Vodafone news can affect the market but we haven't seen any movement as expected. So what happened? The day Idea Vodafone news came in, the same day or next day there was a news that Govt. of India decided to abolish Retrospective tax. If you want to know more about that just search and read.
For now resistance for Nifty is 16250, 16300 and 16350.
Support for Nifty is 16050, 16145 and 16200.
Look for these levels for 10th August 2021.
At the time of publishing this SGX Nifty is trading at 16290. Support for SGX Nifty is 16200, 16100 and 15950.
US market is Negative and rest global market is mixed.
Do your own analysis before taking any trade and trade with SL. Thank you.
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Nifty Review and Analysis for 6th August 2021There was a negative pattern in Nifty which I marked for you guys in the 15 minute chart. Nifty opened 30 to 40 points up on 5th August from 4th August's closing price. Nifty opened at 16294 and from there selling came in the first 15 minute up to 16236 level, I have mentioned about these levels in my earlier post. From 11 am to 1 pm Nifty was in up trend and it moved from 16236 to 16350, and again made a new life time high. Interesting thing to notice is Nifty closed where it opened toady and below 16300.
Global market is positive but Asian market is negative.
At the time of publishing this SGX Nifty is trading at 16352, near it's lifetime high and selling is expected to come.
In Domestic market there is a news related to Vodafone Idea, which may affect the BankNifty tomorrow and if BankNifty stays in negative then it will affect Nifty too.
Below 16236 a selling is expected up to 16145. 16300 and 16350 is immediate resistance for Nifty. A triple top can be seen in Nifty.
For BankNifty 36000 and 36200 is immediate resistance and below 35650 a selling is expected up to 35400.
Do your own analysis before taking any trade. Trade with SL and always remember Yesterdays Quote. Thank You.
Nifty Review and Analysis for 5th August 2021So I said technically if Nifty gives breakout and sustain above 15960 then Nifty will be considered Bullish. I know many people were shorting at top but buyers were determined to take Nifty at 16000 and after Nifty touched 16000 on 3rd August a possible 16000 call short covering happened, which pushed nifty to 16145 on 3rd August. On 4th August Global market was positive, so Nifty opened gap up and made a new lifetime high of 16290. Market was overall choppy on 4th August.
So what pushed Nifty up?
I would like to list possible reasons as per me.
1. Positive GST collection data.
2. Positive Global sentiment.
3. And short covering of 16000 call.
As of now only US market is negative, so we may an effect of this tomorrow on Indian market too.
Nifty made a double top on 15 minute chart of 4th August.
At the time of publishing this SGX Nifty is trading at 16261.50 and flat.
Note:
If Nifty retest 16000 level and move upward from 16000 only then bullishness of Nifty will be confirmed technically. There is not enough room for Nifty to go up because it is already stretched. Nifty has moved almost 800 points in 6 days, 28th July to 4th August.
16043, 16145 and 16236 will act as support for Nifty and for now resistance is 16300.
Nifty may open gap down or flat on 5th August 2021. Watch these levels and always trade will stop loss order. Do your own analysis before taking any trade. I think now I don't have to write what happens on weekly option expiry day and European market.
In this scenario I'm sharing one quote with you guys and it is related to market. Let me know whether you heard it before or not.
"Be Greedy when others are fearful. And be Cautious/fearful when others are Greedy"
Thank you.
Nifty Spot.... Martching to new ATH ....??Nifty structure overall not sustaining above 15964 levels. Rather 15888 - 15930 levels are acting as a severe offloading zones.
FIi are nett sellers in July so far... US Markets are @ ATH
over all global cues / Sentiments are positive as off now... But at higher levels we should be cautious
Stay properly hedged. Levels defined...
Strategy : Buy on dips near bullish level defined.
For July Month Important levels see attached study below.
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Nifty 50 Intraday Trade Setup for 26th July 2021Good morning Traders,
The IN50USD is trading on a crucial level. The index is making a range and also a demand zone at 15,750 to 15,830 level. Here we have two buying ideas First is from 15,740-15,750 levels, Second is above 15,830.
Stoploss or risk is less here and target on the upside is 15,992 (first) & 16,023 (second). If I calculate the risk to reward ratio, it's pretty much good here.
You must be careful and keep an eye on the 15,700 levels, In case it breaks the support then the demand zone will be invalid and we may see a correction 15,600-15,550 levels.
First things first, I'll update the fresh chart once the SGX Nifty & IN50USD Index is open & post a fresh view after I get some fresh Intraday data.
Good Luck
Virendra Pandey
Nifty With A Big Breakout /Sorry For The Noise So finally We are ready to get a big Breakout in our upcoming Trading session .
But Yes Not tommorow
May be in this week or be in next Week
Nifty is Likely to make an inverted Head And Shoulder Pattern In an hourly Chart
Sorry For my last tweet about Blindly buying the Index
I would Prefer to buy Nifty Future @ 15605 Sl 15550 Tp 15900-16150
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