Saturday, July 11, 2015

Weekly Review - 13.07.2015

Dear All,

>>> Nifty Weekly Chart <<<

>>> click the chart to see on full screen <<<

Its a Spinning Top Candle Stick. Price almost Touched 50WMA. May be its a reversal Sign. If trades below 50WMA - Bear may take Advantage. Caution Advised.

>>> Nifty Daily Chart <<<

>>> click the chart to see on full screen <<<

Wave X completed as ABC - which was resisted @ 50% retrace near 8558 or 8561. Hence the count and pattern shows unhealthy for bulls. It looks like a Sell on rise.

>>> Nifty Hourly Chart <<<

>>> click the chart to see on full screen <<<

Its a clear support at 8320 after completing a 1-5 rally till 8561. Below 8320 - Price may see 8190-85 level.

>>> Bank Nifty Daily Chart <<<

>>> click the chart to see on full screen <<<

Like Nifty Bank Nifty also completed Wave X as abcde. Until channel holds the price below, Price may remain under pressure form Bears. Cross above the channel may favour Bulls.

>>> Bank Nifty Hourly Chart <<<

>>> click the chart to see on full screen <<<

Price retraced on friday may get resisted on the lower trend line of the pitchfork. Almost the Gap also filled. Unable to cross above Friday high may trigger sell off.

>>> HINDUNILVR - Posted on 09th July, 2015 <<<

>>> click the chart to see on full screen <<<

Wrote - Price may correct move if stays below the wedge. See what happened.

>>> HINDUNILVR - Happened <<<

>>> click the chart to see on full screen <<<

As expected - Price started falling below the wedge. More such fall expected. Cheers!!!