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Following patterns are found for data of 2005 to 2010 (5 years data) on weekly candle chart.
Patterns are repeating and again. Price Rotation, Overlapping, Tails etc are using for entry, exit and protective stop.
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Following patterns are found for data of 2015 to 2019 (5 years data) on weekly candle chart.
Head & Shoulders pattern is still uncompleted with right shoulder. The neckline target is 10063
At the remarkable zone, it has highly priced rotation detected with tails
As per channel pattern, the range is 12600 to 10900. The gravitating target 12000 for nifty.
Conclusion, break 10900 below nifty can draw more downward.
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The technical analysis developed through practical experience with the trading markets and has resulted in some sizable fortunes for those following it. Traders and investors hope to buy a security at the beginning of an uptrend at a low price, ride the trend, and sell the security when the trend ends at a high price. Although this strategy sounds very simple, implementing it is exceedingly complex. We’re going to focus on Chart Patterns right now from 2000 to 2005 years of data with the chart.
The first and most important, of course, is to determine when a trend is beginning or ending. The money is made by “jumping” on the trend as early as possible. Theoretically, this sounds simple, but profiting consistently is not so easy. Let see the look on the following chart which can help you to understand the technical analysis and patterns.
What exactly is this trend that the investor wants to ride to make money? Recognizable patterns form within a trend will always give you a great opportunity to make money.
The “Channel Pattern” started in Jan. 2000 and ended on Nov. 2001 and the color of that pattern is indicated by orange.
The “Triangle Pattern” a period of consolidation by wave(1),(2),(3) and (4) which was started on Nov. 2001 and Break-Out(wave no. 5)has been represented in Jun. 2003 which is drawn by blue color.
Simple 3 flag patterns detected,
After exploring all data from 2000 to current year data, You can easily understand the repetition of patterns and identify them.
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Long white day candle was formed where the price is up by crossing the previous 3 days of the candle.
Control Price (ii) which is spot nifty target (11540) and resistance nearby it. Notice, many times “control price (ii)” shown its strength.
The possibility of Profit booking can be 11525-11580.
Spot nifty, 11274 closed + 150 = expected opening 11424 nearby.
Below given to subscribers also. sent time : 9:27 AM
Short NIFTY future, sept. in two steps
Trade 1) short nifty future sept at 11538
Trade 2) short sell at 11572
Protective stop will update if cross 11585 above.
Target 11425-11356 intraday
Updated 24th Sept. 2019 (10:54 AM)
Nifty is gravitating above the control price(ii) 11575. Yesterday we have taken a short position in two. Nifty future sept was started falling after the short call and made low of 11411 (target was missed 11425) after it made high of 11627.
Intraday support for NIFTY Sept 11550 and resistance 11635-45.
Breaking this range will create a new move.
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The Bank Nifty always repeating TRIANGLE pattern. We have detected perfect TRIANGLE on bank nifty. Yes, right action on the breakout will full and fill your pocket with money but, still, we have to wait and keep patience for that. By looking at the chart, you will understand the pattern exactly.
Support are in two phases,
We can take Biggest benefit when getting a breakout. Although you can get the profit from the current trend which mentioned by the legs(Waves).
Banknifty opened at the resistance of (3) wave 27701 nearby which is at value high. This resistance pushes it toward the control value at 27463(gravitating) and (4rth) wave at value low. Looking at it seems that short declining wave can start for the target.
Above all levels are for a spot.
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From a strategic standpoint, the technical traders must decide two things: First, the trader must choose when to enter a position, and second, he or she must choose when to exit a position. Choosing when to exit a position is composed of two decisions. Exactly, and therefore our research give 90% above accurency.