Nifty Weekly - Fibonacci Study

Nifty Weekly - Fibonacci Study

Reliance Hourly Chart - Follow up Update

Reliance Hourly Chart - Follow up Update -

19 - Nov - 2015

As anticipated on 22 Oct, Price moved towards the Resistance and couldn't break the resitance zone of 970-990.

From 22 Oct, Price is in the sideways correction and as per Neo wave theory, Price entered completed 2 standard correction and expected to move into the 3 rd and last correction pattern.

We expect the 3 rd correction would take support at 880 -930 range which was mentioned earlier.

Do not bullish in this untill the 3 rd correction is completed, Hence wait some more time :-)

Happy Trading and Happy Investing!!!

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Refer the Previous Article on Reliance dated 22 Oct 2015 -

http://yogeshtamkhade.blogspot.in/2015/10/reliance-industry-ltd-technical-study.html

JUBLIANT FOODWORKS - LONG TERM

Line Chart Monthly Study - Jubilant Foodworks

Price Chart is making Higher High whereas RSI is making Lower Low.

Price Broken below the long term Support trend line  and now price are below the support trend line and is facing the important resistance.

Price momentum has been declined slowly even is the price continue to moving upward

Sep 2014 to Sep 2015 - 1 year of long consolidation is observed between 1000 - 1400 price range(1 yrs - 400 points)

Consolidation breakout seen on Oct -Nov 2015 and from that level 1350 -1400, Price rose to 1870 by Jun2015 (7 months - 470Points)

Price 1400 - 1300 range is an important Resistance zone which broken.

Now This level will act as a important Support level. Current price is also is also on this zone.

Hence can expect the Bounce from this level toward upside. This is an very good level to enter for investment atleast for 1 year

Follow-up on UPL 29 Nov 2015

Follow up on UPL Analysis -

Earlier post reference on UPL dated 28 Oct 2015
http://yogeshtamkhade.blogspot.in/2015/10/upl-multi-frame-study-long-term-bullish.html


9 - Nov -2015

UPL is still testing the Support trend line -

Today's Observation -
* On Daily chart, lower low candle are forming since 6 days.
* Piercing Candlestick pattern formed on daily time frame after hammer candle which are the reversal pattern. But this piercing will confirm only when today's High is broken by tomorrows canndle and close above the today close.
* RSI is hovering near 40 level and formed the 2 bar +ve divergence which indicate the short term reversal can possible