We can see the inverted Cup and Handle pattern and inside the Bullish Gartley pattern. Minimum expected correction level is at D and maximum at the brim of the inverted cup. Once the reversal starts it will go above All Time High. To know the correction
ended look for a small handle.
Index is making an inverted cup and handle pattern and can fall to the extent of 5000-5100 levels in the coming months.
MACD is entering into negative territory below 0 line. No semi circle/circle drawing tool to draw in the chart.
Start from 5045 and draw semi circle touching 5658 as middle point to get the inverted cup.
Merrily trapping the Bulls and Bears with volatality. On the positive side it gives good trading opportunities for day traders.
Nifty travelling side ways with 10930 as top band and 10450 and Bottom band. Any move with volume needed beyond
these lines to get a good direction of the market. Until such time enjoy the quick trades and if not convincing stay...
Looks like DJI is making a MIRROR IMAGE as marked in chart. A probable path of DJI is indicated.
Considering the MACD histogram opened below 0, this possibility becomes more probable. A negation
of this probability is DJI try and stay inside the channel line soon with volume.
As indicated the 2nd shoulder is in progress after making a high above the first shoulder height. Very soon this can start falling towards neckline. Watch out for 2 days close below 5 EMA in daily chart for confirmation of reversal of trend.
Moving Average 5 is applied in Daily Chart. Whenever we get 2 closes above 5 MA the market goes up .
Same way 2 closes below the 5 MA the market corrects/falls.
The rise and fall target depends on the resistance and fall at that time.
The best minimum target would be preferably the BBs (in daily chart) and 200 EMA. in 5 Min and Daily chart.
Marking given to...
As mentioned in the earlier post with comments. the price entered inside the pattern (coloured area) just like the first
wing and started falling. It can fall till it gets out of the pattern once more (most probably) and give a mild side
ways move with upward limited bias and start falling towards the bottom channel. The dates mentioned in the first
The chart a probable H&S pattern and MACD supports it. We can see in next 2 days it should go up above the 1st shoulder and start falling towards neckline.
This is a view of probability for educational purpose of chart reading and traders check with their own systems and this view cannot be attributed to any trades.