Outlook For Nifty & Select Stock Reviews Featured Online At Economic Times

Check out my outlook for Nifty & select stock reviews featured online at ET (read here)

Update : Nifty Pennant

Nifty reached its first target given in this post .

Nifty : Pennant Breakout

Today Nifty gave a breakout from pennant it was trading in for last 15 trading sessions ,now nifty is expected to go to 5990 and 6030 levels.

Update : Nifty Island Reversal Gap

Nifty reached both the Targets given in last post .

Nifty : Island Reversal Gap

Nifty has formed bullish island reversal gap and now nifty could target 5752 - 5815.

Update : Nifty Ascending Triangle

Nifty broke on downside from ascending triangle it made on hourly charts and again took support at lower trend line of 90 point range it has been trading in for last 12 trading sessions.

Nifty : Ascending Triangle

Nifty has formed ascending triangle in hourly chart, pattern gets confirmed above 5725-5730 and could target 5780-5815.

Nifty : Brearish Engulfing Pattern

Nifty has formed bearish engulfing pattern on weekly charts as this weeks candle engulfed last two weeks candles so we could see some more selling in coming week.

Nifty

Trend line joining 5629 and 5349 has been providing support for last two days in case this trend line gets broken then red trend line joining lows of 4771 and 5033 would provide support which stands at 5212 for tomorrow .

Update : Nifty Inverse Head & Shoulder pattern

As posted in last post Nifty reached both its targets.

Nifty : Inverse Head And Shoulder

Nifty has formed Inverse Head and Shoulder pattern on hourly chart......breakout above the neckline at 5240 on good volumes could take nifty to 5325 and then to 5450.

Nifty

For past three days nifty is stuck between 200ma and 100ma.

Nifty : Island Reversal Gap

Nifty made an island reversal gap between 5169-5164 with target of 5000.

Nifty : Double Bottom

Nifty formed double bottom pattern at 5217 and if 5267 is taken out with volumes nifty could target 5317.
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Update : pattern got invalidated

Update : Nifty (Double Bottom)

Double Bottom pattern in Nifty failed.

Nifty : Double Bottom

Today Nifty gave a breakout from double bottom pattern so now it could target 5100.

Update : Nifty Double Bottom

Nifty : Double Top or a Freak trade

Even though TV channel said that there was a freak trade which lead to sudden fall in nifty but to me it looked like a perfect double top pattern.

Nifty : Falling wedge

On daily chart it looks like nifty is forming a falling wedge in current correction with a b c d completed and we are currently in e .....the lower trendline comes some where around 5100-5120.

Nifty

So today nifty gave a breakout on upside from trading range it was stuck for last seven trading sessions.