NIFTY
Bearish flag :- daily nifty chart showing formation of bearish flag from 4/5/11 to 11/5/11 which broken down on 12/5/11, giving target of 5250 which yet to be achieved even after 21 trading days so showing possibility of BEAR TRAP.
NOTE:- if nifty closes above 5600 nifty reaching target of 5250 becomes remote.
BULLISH FLAG IN NIFTY :- If closes above approximately 5550 i.e. if breaks upper trend line shown in blue color nifty will target 5800 in coming days since AB=250 POINTS=CD, Hence 5550 + 250 =5800
MAKING OF INVERTED HEAD & SHOULDER IN HOURLY CHART
The following chart shows making of inverted head and shoulder in hourly chart
MAKING OF INVERTED HEAD AND SHOULDER ON DAILY CHART
Following chart shows making of inverted head & shoulder on daily chart
So the above two charts shows that if nifty closes above 5620 it will head towards 5800. CAUTION:- For this nifty should not close below 5440 otherwise it will test at least recent lows around 5330.
HEAD AND SHOULDER OF CNX IT ON DAILY AND WEEKLY CHART
The above two charts shows head and shoulder pattern formation in cnx it index on daily as well as weekly chart. If u observe daily charts it shows that on 25/5/11 it has broken down neckline on closing basis so it should target 5600, but if u observe weekly chart u will find that it has not broken below neckline on closing basis on weekly chart, also on 31/5/11 it closed above neckline on daily closing basis so it may be false breakdown or BEAR TRAP !!
BEARISH FLAG IN SBI REACHED TARGET
The above chart shows formation of bearish flag in sbi chart from 4/5/11 to 16/5/11, which broken down on 17/5/11, giving target of AB= 400 POINTS = CD = 2600 -400 =2200 which achieved on 25/5/11.
These are some of the trading patterns happened in Indian market in recent days, hope this will b helpful to new bees who r trying to learn. Hoping for some feedback and comments from readers.
Bearish flag :- daily nifty chart showing formation of bearish flag from 4/5/11 to 11/5/11 which broken down on 12/5/11, giving target of 5250 which yet to be achieved even after 21 trading days so showing possibility of BEAR TRAP.
NOTE:- if nifty closes above 5600 nifty reaching target of 5250 becomes remote.
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| NIFTY BEARISH FLAG |
The following chart shows making of inverted head and shoulder in hourly chart
Following chart shows making of inverted head & shoulder on daily chart
HEAD AND SHOULDER OF CNX IT ON DAILY AND WEEKLY CHART
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| CNXIT-1M DAILY |
BEARISH FLAG IN SBI REACHED TARGET
These are some of the trading patterns happened in Indian market in recent days, hope this will b helpful to new bees who r trying to learn. Hoping for some feedback and comments from readers.
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