Facing resistance at Cloud & 38.2 % fibo level
10657 Thick Cloud resistance . Bulls need extra effort to clear this strong resistanc
Break out from consolidation above 187
History may repeat & New uptrend may emerge on successful weekly close above Kijunsen
Cloud break down on hourly chart . More weakness below 525.4 ( 23.6 % fibo )
Bouncing off from upper cloud support on weekly chart and bullish Tenken & Kijun sen cross . One of my favorite chart set up for Long term investment .
Nifty broke downward slopping channel and managed to close above Kijunsen . Any pullback toward Kijunsen & Upper channel line may offer long opportunity for 10470-10507
Nifty faced resistance at previous supply zone and closed below 10500 level. 10564-10635 is major resistance zone . Below 10419 , Bears may push Nifty toward 10243.
GHCL is trading above cloud & getting support around it. Above Kijunsen (285) Bullish momentum may resume.
Inverted Head and Shoulder pattern break out retest on hourly chart
Volume got lower with new low followed by high volume bottom fishing
Falling Wedge pattern break out on hourly chart
Inverted Head and Shoulder pattern break out on hourly chart
Nifty Bullish above 10235 and Bearish Below 10075
Cloud high of 9770 may provide support. During 2016 correct also Nifty managed to bounced near to Cloud high . Even thick cloud indicating strong cloud support zone and it may not be easy task for bear to penetrate cloud support zone .
Kijun and Trendline break down below 10130.
History may repeat after Tata motor broke prior weekly channel support low , which may take Tata motor to 161.8 % extension