Dinesh_C_Nagpal

Dinesh_C_Nagpal Updated 

Hello and welcome to this analysis Glenmark after consolidating near its monthly support attempted a fresh upmove from 350 to 400, Post that it has made a sideways corrective forming a Bullish Harmonic ABCD. The current reversal from 375 could be a higher low of the new uptrend in it and it could rally till 410-425-450 as long as it does not breach 374....

Dinesh_C_Nagpal Updated 

Hello and welcome to this analysis The stock is at the PRZ of a Bullish Harmonic Cypher formed in Weekly time frame. A bounce/reversal till 340 to 375 is probable as long as it does not break 250. Risk Reward for the trade is v good at 1:3 Harmonic Trading Patterns consolidate and then give strong follow through of trends. Since this is based on weekly time frame,...

Dinesh_C_Nagpal Updated 

Hello and welcome to this analysis After a sharp down move last week which might have ended its sideways corrective, Reliance is now attempting a double bottom in lower time frame, suggesting 2475 and 2575 as possible upside levels as long as its above 2470

Dinesh_C_Nagpal Updated 

Hello and welcome to this analysis In weekly time frame a Bullish Harmonic Reciprocal has been activated which is seeing consolidation in the stock between 1100-1150. A probable throwback towards 1300-1400 with minor resistance near 1200 could take place. View would be invalid below 1050. Please note this is a weekly time frame reversal hence very short term...

Dinesh_C_Nagpal Updated 

Hello & Welcome to this analysis Maruti has activated a Bullish Harmonic 5-0 Pattern suggesting upside till 8500-8600 with strong support now at 7800. Harmonic 5-0 Patterns are not found so frequently and their success ratio is quite high. Happy Investing

Dinesh_C_Nagpal

Hello and welcome to this analysis on TATASTEEL After a v sharp decline in MAY-JUNE the stock has now formed and reversed from the PRZ of a Bullish Harmonic ABCD As long as it sustains above 840 it can do a pullback to 925 and 1000 Risk Reward good for longs

Dinesh_C_Nagpal Updated 

Hello and welcome to this analysis on GODREJ CONSUMER - flagship co of the Adi Godrej and a dominant player in the FMCG Segment. In the daily time frame it has activated a Head & Shoulder breakdown. As long as it is below 765 it could slip further down to 710-700 Price is now near 740PE which has the highest OI but is seeing Short Covering while 750CE is seeing...

Dinesh_C_Nagpal

Hello and welcome to this analysis on Bank Nifty The steep gap down on Monday breached a very crucial support zone of 33800-34000. Post the gap down we saw attempts of recovery which appear more sideways with a very minor higher low higher high bias. The structure appears to be making a Bearish Flag with the prior decline as the Pole. We can see a squeeze...

Dinesh_C_Nagpal

Hello and welcome to this analysis on MUTHOOT FINANCE cmp 1130 After peaking out in NOV 2021 it gave a Head & Shoulder breakdown in JAN 2022 which lead to a Bearish Alt ABCD 1.6x breakdown. Now after completing its Bearish Alt ABCD it has reversed with a Bullish Harmonic Alt Shark with a Long Legged Doji candle and a Positive RSI Divergence. It could bounce...

Dinesh_C_Nagpal

Hello and welcome to this analysis on RELIANCE INDUSTRIES On April 29, 2022 it completed the formation of a Bearish Harmonic Alt Shark Pattern indicating a reversal in the daily time frame. Currently it has completed 50% of that retracement and formed a Bullish Harmonic Alt Shark in the Hourly time frame suggesting a probable bounce from here. A pullback of this...

Dinesh_C_Nagpal

With FOMC outcome due tonight, volatility is increasing sharply (pre-event uncertainty) We are in the dark as to what FED will do tonight - so many possibilities, add to that statement - hawkish or dovish 25 bps market will rally 50 bps appears discounted 75 bps market will panic Hence better to stay light Above 21.75 the crucial resistance is at 2.80 if that...

Dinesh_C_Nagpal

Public Sector Enterprise has seen a Bearish Harmonic Deep Crab Reversal. Currently near a support, if this fails to hold here @ 4270. If this fails to hold then the next major support for the sector is near 4100. Short covering would trigger above 4325. This was one of the strongest sectors since MARCH revival with Govt plans to Divest stake in several of them,...

Dinesh_C_Nagpal Updated 

Hello and welcome to this analysis on Tata Steel After a long correction which lasted more than 7 months, in FEB the stock gave a vertical recovery rally. The rally ended with a diagonal indicating signs of short term exhaustion. Earlier this month we saw the diagonal breakdown and today we are witnessing more selling pressure in it. It could continue this decline...

Dinesh_C_Nagpal

Hello and welcome to this analysis on Mphasis. In the daily time frame its been in a sideways trend now for quite some time forming an Ichimoku P Wave. We can see each swing zone has a 3 leg structure testing the 2 trendlines. Currently it appears to be ending the 1st leg of the the last wave down (likely), a small bounce back from the current level and then the...

Dinesh_C_Nagpal Updated 

Hello & welcome to this analysis on the IT Index. With Q4 results starting from 2nd week of April, IT stocks will once again be in limelight. If the index can sustain above 36700 it could lead to rally till 37750-38000 where it has a line of polarity besides a Bearish Harmonic Cypher. This continuation of bullish outlook is valid till its above 36000. Failure to...

Dinesh_C_Nagpal

Hello & welcome to this analysis on the small cap index CNX Small Cap Index activated a Bullish Harmonic Deep Crab on 24th Feb at 9350. From there it has now move all the way 10900 and on its way created 4 gap ups which is usually the sign of a strong trend (typical of Elliott Wave 3) What is most interesting is on 4th April it activated a Bullish Island Reversal...

Dinesh_C_Nagpal Updated 

Hello & welcome to this analysis on NIFTY After a few days of sideways consolidation Nifty appears to have completed its correction yesterday. It faces resistance at 17380 / 17440 (going by current SGX Nifty its trading well above it) and then at 17650 / 17800. Failure to take out 17650-17800 zone could see long unwinding and selling pressure till 17000 or lower,...

Dinesh_C_Nagpal Updated 

Hello and welcome to this analysis on NIFTY In the daily time frame NIFTY has made a Bullish Harmonic Butterfly In the hourly time frame NIFTY has made a Double +ve RSI divergence, confirmation for upside is on hourly close above 15885. View would be invalid below today's low Resistance at 16150 / 16300