Weekly Cup & Handle Targets Intact. However, Bullish Flag Pattern Target is achieved. Slight Correction is Expected. But Stoploss is Must.
Immediate Support level is around 111582 - 110602. Resistance is Still the same around 113000 & then around 115500 -115700
GHNI has successfully completed its Weekly ABCD Pattern around 590 - 595. However, there is No Bearish Divergence Yet on Bigger Time Frames. Monthly Closing above 592 - 595 would be a Positive Sign. However, it should retrace upto 540 - 550 once for a Good Upside Rally again. Breaking 500 may bring further Selling Pressure.
Recently made HH HL on Bigger TF. Breakout Re-test possible around 21.50 - 22 Otherwise, Trendline Support around 24.80 - 26 Upside Targets can be around 28.50 - 29 & then 31+
No bearish divergence yet, however, there is a resistance around 79 - 80 initially.
Plan1 Buy1 around 208 - 210 | Sell around 215 then 225 Buy2 around 198 - 201 | Sell around 210 - 215 Stoploss 189 (Closing Basis) Plan2 Buy Above 242 Sell around 247 - 253 then 280 then 300 Stoploss 239 (Closing Basis)
It should not break 334. upside targets are around 390 & then above 400. If 465 is Crossed & Sustained, we may witness 600+
Hidden Bullish Divergence. Upside Resistance around 109 - 110. On the flip side, 104 can be a good support.But if it comes around 92 - 94 it has a potential to take a Very Good Upside Move from there towards 120+ But Bullish Momentum will resume once it crosses & sustains 113 with Good Volumes.
Beautiful Morning Star Formation on Weekly TF (positive). Also Weekly Trendline Breakout. Sustaining above 284.60 on Monthly basis is a Positive sign. It may touch 280 - 281 & if we find 2-3 hourly green candles, risk can be taken to go long. However, it should not break 280 on Closing basis. Crossing & Sustaining 300 will lead it towards 310 - 315.
Bearish Divergence on Weekly TF. To resume its uptrend, it must cross 496 - 500 level. Immediate Supports seems to be at Current level otherwise, 370 - 386 is an Important Support Zone.
Though Bullish on Bigger Time Frames but it has Started making LH LLs on Daily TF. Currently at Important Support level. Bullish Divergence has appeared that should give it a Bounce. If 345 is Sustained, we may witness slight upside may be around 375 - 385. If 391 is Crossed with Good Volumes & Weekly closing is above this level, we may see it touching 415 - 420...
Currently Near Channel Bottom around 935 - 940. Either it should bounce from 932 - 935 or otherwise breaking 930 would open ways towards 827 - 830. As mentioned many times in my earlier analysis that the Bullish Momentum would resume only if it Crosses & Sustains 1200 - 1250 atleast.
It has taken Support form 23.40 which is a Very Strong Retracement level. Immediate Resistance Zone is around 31.90 - 32.50. If this Level is Crossed, we may witness 34 - 34.20 However, it should touch 40 - 41 in medium term. Immediate Support levels are 30.30 & then 29.30 which seems to be tested.
The Only Negative Point is the Bearish Divergence on Comparatively Bigger Time Frames.
Bullish on Daily TF. ABCD Pattern will be in play once it crosses & sustains 19.50. Potential to touch 24 then.
Bullish on Bigger TF. However, good support is around 520 - 530
If the Support around 21-21.50 is Sustained, we may witness further upside around 27-28+
I have also put 3 test cases for Future Learning that I will share with My Students later Inshaa ALLAH. Under all those Test Cases, Index should show Positivity in Upcoming Days (may be tomorrow or onwards). But Tomorrow's Closing is Important to see. Either it fails or play (as expected), there would be a lot of New Learning (for me atleast) Inshaa ALLAH....