Nifty Update - 6 Feb 14

60Mins TF - Nifty is moving up in a channel making higher highs and lower lows in last three sessions. Bear made 3 unsuccessful attempt to close Nifty below 200DMA. Looking at the channel, there may be breakout above 6048 or breakdown below 6000-5990.
If breakout above 6048, then T1 - 6070, T2-6118, SL 6036
If breadown below 6000, then T1 - 5978, T2-6030, SL 6012

Week TF - Weekly hammer is in making. A close on Friday between 6071-6117 will validate this pattern.

RCOM Update - 4th Feb 2014

RCOM has formed INHS pattern in 60mins TF with below points:
Shoulder - 126.35 - 126.4, Neckline - 123.55, Head - 115.50
BO above - 126.4
T1 - 129.25, T2 - 137.3. SL - 124.9

RCOM has formed -WW pattern in 60mins TF with below points:

1-123.85, 2-115.50, 3-125.35, 4-121.45, 5-126.4
Min tgt = 122.9, Max tgt = 114-116, SL = 128.15

The below charts is showing probable EW counts in Daily TF. As per counts, RCOM is in ii wave of C of 4th and expecting it to touch the upper line of the channel around 130.5-131 and thereafter iii wave may commence in downwared direction.
End of C wave can be inferred from retracement leves for the fall from 137.45-115.5. Also, if this is iv wave, then it should not go beyond 91.85 (which is end of 1st wave)

RCOM Update - 24th Jan 2014

Probable EW counts in Daily TF:

Probable EW counts in 15 Mins TF:
129.2 and 127.3 are 50% and 61.8% retracement values of the rise from 121.05 to 137.40 and 80%
is 124.32. Strength can be returned from 129.2/127.3 and weakness below 127.3/124.32. Wave ii may get complete between 127.3-129.2 and the iii wave may resume targeting 16.36-26.45 points up from the end of wave ii.

Nifty Chart Analysis: 24 Jan 2014

In Nifty 30 Mins TF, we can observe Rising Wedge pattern which was formed on 23rd Jan having breakdown below 6344, targeting 6304-6300. This target was achieved during opening hours on 24th Jan.
On 24th Jan, Nifty had formed Bear Flag pattern in 15Mins/30 Mins/60Mins TF. Breakdown below 6278 (already broke on 24th Jan in closing hours) targeting 6258 and 6217 with SL above 6290.

In 5H TF, Nifty has formed Triangle pattern. After giving false breakout above 6330 (high made 6356), its now back into triangle zone. Breaking 6220-6194, will be very bearish and may bring nifty another 445 points down from 6220-6194 in coming days. Considering highest 6200 PE OI and up-trend-line support at 6220-6194 may provide good support to the current downfall (at least for this expiry).

After false breakout, Nifty is again back in to triangle zone in daily TF as well. 50DSMA (at 6216) is very important support and nifty may bounce back from here. In past as well, 50DSMA had provided good support to major fall. If prices are able to break 50 DSMA, then next support zone will be 6219-6181, i.e. 61.8% & 80% retracement values for the rise from 6140-6347. Below this triangle up-trendline at 6150 and 100 DSMA at 6092 may provide good support. Below this 200 DSMA at 5950.

BHARTIARTL Chart Analysis - 22 Jan 14

In below 15 Mins TF, IHNS pattern can be observed in BHARTIARTL (in 30/60 Min as well).
Pattern Breakout: Price breaks neckline (currently at 311.50) on the upside.
Pattern BO Tgt: 319-320 with SL below 307.85

In below 15 Mins TF, Bull Flag pattern can be observed in BHARTIARTL.
Pattern Breakout: Above 310.22 (currently).
Pattern BO Tgt 1: 312.5 and Tgt 2: 319 with SL below 309

BHARTIARTL made Bullish Harami Pattern today in Daily chart which is very bullish in nature but need confirmation on 3rd day.

BHARTIARTL is re-testing up-trendline (joining 238.45-275.2-280.5). This is currently placed at 302.65 which is also the recent low made by BHARTIARTL

In weekly time frame,:
1. Weekly Hammer is in making and will get confirmation on 24th Jan's closing price
2. Weekly up-trendline may provide support to BHARTIARTL which is currently at 307.5
3. We can spot Triangle in weekly chart with breakdown below 307.5 based on weekly closing price (i.e. on 24 Jan)

 

Petronet chart Analysis - 21st Jan14

+WW Pattern can be observed in Petronet Daily time frame. Buy signal will trigger once prices moves above 1-3-5 line. As of now, 133.45 is the point breaching which, +WW pattern can get confirmed.

 

RCOM Update - 21st Jan 2014

RCOM Chart Analysis - 19th Jan 14

RCOM - Chart Analysis - 9 Jan 2014

In the above given RCOM daily chart, +WW pattern is in making and point 5 may form near 122.5 post which bounce back is possible to the levels of 140-145.

In the above given RCOM daily chart, a clear postive divergence can be observed in MACD (12,26)with the two last major lows i.e. 126.75 and 123.65. This gives a chance to bounce back sharply.

In above daily chart, I have marked EW counts as per my understanding. Based on which C or 2nd wave may end at 119 level (if A=C). Post this wave 3 may start which may target new highs in the coming days.

Conclusion:
Bounce back can be expected from 119-123 levels for the target of 140-145 and above in coming days.

HCLTECH - Trending up in channel

HCLTECH is perfectly trending up in upward channel fom June last year till date. If we see the price movement in daily chart, HCLTECH always gets resisted at upper line of channel and comes down till middle trendline or towards lower line of channel.
HCLTECH results are decelaring soon, that might cause stock to break this channel on upside and  move further up and touch new lifetime highs or else it may see the lower trendlines of channel.