A bearish butterfly is a harmonic pattern which resembles a resistance on the top of the butterfly which must be confirmed by the long term resistance and supply area. This is my personal observation on behalf of purely technical analysis not a recommendation to buy or sell. Here is the snapshot:

STATE BANK OF INDIA has confirmed the double top reversal pattern today below 270 levels. The shape has completed the criteria of a reversal pattern. So sell SBIN on rallies at around  265 -268 levels we may see downside up-to 247 levels which is also its 2oo day sma on weekly charts…Maintain a stop of

Bullish cypher is a harmonic pattern which must be supported by the long term trend line. Today’s sharp fall in NIFTY FUTURES led to an another formation in the form of a bullish cypher. Moreover, long term trend lines also providing the major support area and also 100 DAY SMA is also looking to hold

A bearish gartley is only trade-able if it is forming with the major trend of the prices. Today  i have observed open interest build up too in the stock on the short side. Indicators like RSI showing over bought zone on daily charts . The only problem is the DMI AND ADX LINES as they

An inverse and shoulder pattern is a sign of  trend reversal . But buyers   be cautious as  the prices are still below the long term 200 day EMA AND SMA. But it may be taken as a price target. Open Interest also increasing with the trend. Trend following indicator like RSI also showing zone shift

Banknifty futures starts to trade in NSE in around june 2005. I have taken the bottom from there and technically  I came to know about the perfectly matched ELLIOT WAVE IMPULSIVE FORMATION on monthly charts. After observation my recommendation that the 5TH wave now has completed the final target of 24000-24500 so if we find

GANN FANS AND ANGLES PROVIDES LONG TERM SUPPORTS AND RESISTANCE FOR A PARTICULAR PRICE MOVE. CYPHER SHAPES REFLECTS CONTINUITY OF PREVAILING TRENDS . GANN FANS SUPPORTS  IN COMBINATION WITH CYPHERS PRICE PATTERN IS A PERFECT TECHNICAL FORMATION. BANK OF BARODA REFLECTING THE SAME OBSERVATION ON WEEKLY CHARTS. SO CAN BE A GOOD BET TO MOVE

Ascending triangle breakouts are positive and have high accuracy level as they follow the prevailing trend. So GSFC in my opinion can be a perfect example as it resembles the breakout after taking the multiple supports. Indicators are also  providing confirmation to the pattern.As MACD giving a buy signal,MFI comparatively forming higher highs in relation

Bullish butterfly normally forms against the trend and i have selected IDBI after studying a lot in the markets. Stock price is holding its long term supports and also open interest building up with the price move.So a good script to bet on : My opinion is that it may test 65 levels on the