Next support level for nifty. Rebound is going to come from somewhere between 15310 - 15120 - 14900 level. This rebound will take nifty to level of 16000-16400 and next 3 months nifty will spend between the 15300-16400. By Sep - Oct nifty will make bottom at 14400-14300. There are lot of reasons technically
1. 20% correction from the top comes at 14900.
2....
IRCTC has broke it's 6 month long consolidation of 1300-1400 with very high volume. it has broke 2 resistance point and taken resistance at 3rd point i.e. 1595. Can take long here.
After completing reverse head and shoulder pattern in the range of Rs. 220 to 292, Finally Mazdock has given breakout. This is the buying opportunity with the target of First - Rs. 330 and Final target of Rs. 350
You can see classic W/double bottom pattern on petronet daily chart at 68.2 Fibonacci retracement level. Classic case of going long on petronet. Target of 279 and 322 for medium and long term
Trend base fib series indicating daily bar touching level of 1.0 in Trend base fib series. exact reversal from 12769 ~ 12766. With 8 days of rally looks like some profit booking will come from this level.
HUL has created Cup and handle formation in daily charts. Today is the fifth and last day for handle creation. HUL is going to fly from here. Target 2300.
