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Saturday, December 4, 2010

Is it a Making of Head & Shoulder Pattern in Nifty Chart?

Hi All,
Wow, market is moving according to Predictions!!!! Congratulations to those people who have made profits by following prediction..........
Now, if we watch the Nifty Chart, is it a making of Head & Shoulder Pattern in Nifty daily Chart? Like, 1st Top is on 14th Oct 2010, Second Higher Top is on 5th Nov 2010 and now Is it a making of Lower Top on 2nd Dec 2010? 
To get a H & S breakout at lower side, market has to close below 5606, then only we can say market is bearish, target will be 4400, if it closes below 5606. 
But..........Above this level, we are on safe zone, market is in uptrend with a trend line support at 5690 levels, and this correction we can call it as Intermediary Profit Booking, or intermediary Bearish Phase.
Lets Study it in Deep.
Considering candlestick pattern, last 2 days pattern is of Western Pattern in Up trend which pulls the market down. While seeing at this pattern, on Monday market will move up at around 6075 levels. But for weekly review market will make a low of 5780, as it has major resistance at level 6075 and major support at level 5780
Traders will make a money but investor has to follow strictly Stop loss and Risk Management which i have taught in Lectures.
Nifty Support: 5964 - 5915 - 5871
Nifty Resist: 6025 - 6076 - 6143
Intraday Stocks: (Follow the Intraday Rules)
  1. Carol Info: Long Position, Flag Breakout
  2. Akruti City: Long Position, Risky Trade (Stock is making new low but RSI fails to go below its previous low, positive divergence is form)
  3. Ind. Seam Stl: Short Position, Bearish Piercing
  4. Mastek Ltd: Short Position, Bearish Piercing
F & O Stocks: (Don't hold the Position, profit booking is Important)
  1. ACC: Short Position, Down Flag Breakout
  2. Alok Ind: Short Position, Down Flag Breakout
  3. APIL: Short Position, Bearish Kicker
  4. Apollo tyres: Short Position, Bearish Piercing
  5. Axis Bank: Short Position, Bearish Kicker
  6. Bajaj Auto: Long Position, Bullish Engulf
  7. Bank Nifty: Short Position, Bearish Kicker
  8. BankBaroda: Short Position, Evening Star
  9. BharatForg: Short Position, Bearish Kicker
  10. BankIndia: Short Position, Bearish Kicker
  11. Dr. Reddy: Long Position, Flag Breakout
  12. HeroHonda: Long Position, Key reversal pattern at bottom
  13. Infosys: Long Position, Flag Breakout
  14. OptoCircuit: Short Position, Bearish Kicker
  15. Petronet: Short Position, Bearish Kicker
  16. SBIN: Buy Put Option, 3100.
  17. Suzlon: Short Position, Evening star
  18. Tatamotors: Buy Put Option, 1300, Short Position, Spinning top
Delivery Stocks: (Calculate Risk, Target, Time frame, Accurate Price level to buy)
No Stocks
If you have any query please get in touch with me.

Mrs. Anagha A. Bhave
[Technical Analyst]

Aabhineesh Total Solutions.
1st Floor, Gajanan Krupa Apt,
Sadashiv Peth, Near Nagnath Par,
Pune 411030.
94 202 14 800

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