Bearish ABCD in Reliance - 29th Sep 09

Update at 1:18 PM:

Invalidating this pattern, it didn't trigger the trade.

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Reliance Intraday Chart - 5 mins:

Reliance formed a Bearish ABCD pattern, can enter short trade below 2156 - filter(7). Risk reward is high, trade with caution.

Bearish Butterfly In Wipro - 25th Sep 09

Wipro Intarday Chart - 5 Min:

Wipro formed a Bearish Butterfly pattern Yesterday and triggered reversal today morning, first target is already reached. There is still down side possible but due to high risk/reward not advisable to enter the trade now. Couldn't post due to time constraint. Posting it for the study purpose.

Update on Bullish ABCD pattern in Tatasteel - 24th Sep 09

Update at 10:48 PM:
Exited Tatasteel at 507.

PS: exited punjLloyed at 254.5, I mentioned to enter in a small quantity. closing the call with 5% loss.

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Update on Bullish ABCD pattern in Tatasteel, which was posted earlier. Moving Stoploss at 507 all the remaining long trades.

Update: Bullish Gartley in Nifty - 22nd Sep 09

Bullish Gartley in Nifty, posted earlier. Nifty reached the first target of 4996 level. As Nifty is moving sideways and no demand is coming in above 5010 level. Moving stop loss to below the sideways move at 4994.
Will add some more if it gives break out or above days high.

Bullish Gartley in Nifty - 18th sep 09

Update at 3:25 PM:

Booked 50% of the swing holdings here at 4975, as Monday is Holiday.

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Update at 2:42 PM:

Moving stop loss to 4958. as Nifty is moving sideways.

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Update at 2:27 PM:

Bearish ABCD in 1 min is not allowing futures to move above 4974. so moving Sl to 4962 for 50% of holdings

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Nifty Intraday Chart - 5 mins:

Nifty formed a bullish Gartley in 5 min time frame, Long trade is triggered at 4956 with the stop loss below low of the day. Targets are marked on the chart. A descending triangle is also visible on the charts so trade with caution. Can keep trailing stop loss.

Update: Bullish ABCD pattern in Grasim 17th Sep 09

Update at 3:35 PM:

On the average 8% profit in this trade.

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Update at 2:25 PM:
Exited all at 2790. but it can go up to 2820 level. If any one want to hold can keep 2760 as stop loss.

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Bullish ABCD pattern in Grasim, It reached the second target, I have added some at the break out of flag pole, exited same quantity at 2778. It may go up to 2820 level. Will exit remaining 25% at the target or at 2800 level.

PS: PunjLLoyd long triggered for the symmetric triangle, entered with small quantity. Will more to it add later.

Update: Bullish AB=CD Pattern in RPower - 17th Sep 09

Update at 3:45 PM:

On the average 0.5% profit in this trade.

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Update at 12:35 PM:
Stop triggered.

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Bullish AB=CD Pattern in RPower, posted earlier. Reached its first target, those who took the trade may book 50% profits and move stop loss to 164 for remaining holdings. Second target is at 167.

Update: Bullish ABCD pattern in Grasim 16th Sep 09

Bullish ABCD pattern in Grasim, posted earlier. Booked 25% at 2708 which was first target of the ABCD pattern.

Bullish AB=CD Pattern in RPower - 15th Sep 09

Rpower Intraday Chart - 5 mins:

RPower formed a bullish AB=CD pattern in intraday, Long trade may be taken if it breaks 163 with good volumes. Risk to reward is high in this case. Trade with caution, targets are marked on the chart.

Technical Analysis on Reliance - 14th Sep 09

Reliance Chart - Daily:

Reliance has formed an Ascending Triangle in daily charts (not a perfect one). It gave a break out from the Triangle, but the volumes are not very convincing. Today it took support from the Neckline of the Triangle. Long trade can be taken with the stop loss below the support trend line or 1918. Target may be the height of the triangle at 2500 level. 2270 may act as next immediate resistance.

I would not prefer to take new trade at this point of time. As Nifty is still in indecision so risk would be more then reward.

I have posted a long entry in Reliance when it formed a Bullish ABCD Pattern (Gartley with double bottom) at 1870 level. Which reached the targets of ABCD pattern immediately and reached the extended target of 2190 later on.
Reliance gave a wonderful opportunity to re-enter long trade on 4th Sep, But I didn't utilize it as I was holding some other scrips at that point of time.

Update: Bullish ABCD pattern in Grasim 14th Sep 09

Bullish ABCD pattern in Grasim posted earlier, moving stop loss to 2570. It missed the second target with Rs.20 and showing bearishness now.

Bullish Gartley in LITL - 11th sep 09

Update on 14th Sep 09, 4:00 PM:
Stop loss hit for LITL, but exited with 0.62% profit on the trade.

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Update at 1:56 PM:

LITL missed the target with Rs. 1. Booked out 50% at 424 and moving stop loss to Rs.414

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Update at 11.40PM:

Bought it at around 416.4 on avg. Till now it sustained nicely with the bearish Wolfe wave cum ABCD pattren in Nifty.

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LITL Intraday Chart - 5 mins:

LITL formed a Bullish Gartley pattern. Targets are marked on chart. Those who have traded before and want to reenter, with small risk can enter now.( buy in small dips)

Update on Bullish ABCD pattern in Tatasteel - 11th Sep 09

TataSteel Chart - Hourly:

I have entered the trade with ABCD pattern which I have posted earlier. Now updating the extended targets for the Gartley pattern marked in the above chart with targets. I wanted to accumulate this scrip in the dips so I planed and booked out 75% of the holdings at each target, so that I would be in profit even if it hit stop loss. But even in a feeble day as yesterday, it managed to hold good.

TataSteel Chart - Daily:

On the daily charts it has broken the previous pivot, which again indicates strength. I would like to add in dips depending up on situation. Expect some updates.

Bearish ABCD in DLF - 10th sep 09

DLF Chart - 15 min:

DLF formed a Bearish ABCD pattern and reached its target. Posting this for study purpose.

Update on Bullish ABCD pattern in Tatasteel - 8th Sep 09

Update at 2:02 PM:
Booked 25% of my swing holdings at 464.50 which is Flag and pole target also it is near to second target.

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Update at 11:52 AM:
TataSteel gave a break out from flag and pole, and heading swiftly for second target :)

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Tatasteel Chart - Hourly:

Update on Bullish ABCD pattern in Tatasteel. It reached the "Big" ABCD pattern target

It is at the resistance, watch out we may get a break out or it may come down a bit. I am moving my SL to 451 for next 25% swing holding.

Update on Bullish ABCD pattern in Tatasteel - 7th Sep 09

Tatasteel Intraday chart - 15 mins:

Update on Bullish ABCD pattern in Tatasteel, it reached the second target. booking 50% of my swing trades and would go for trailing stop loss for remaining holdings

Update on Bullish ABCD pattern in Tatasteel - 4th Sep 09

Update on Bullish ABCD pattern in Tatasteel, It reached its first target in intarady.

Similar view on Tata Steel here by Satyam.

Nifty Intraday Technical Analysis for 4th Sep 09

Nifty Intraday Chart - 1 min:

Nifty opened a gap up of 20 points, and formed a bearish Wolfe Wave in 1 min and started falling down and reached its target immediately.

Nifty Intraday Chart - 5 mins:

Nifty formed a Bullish ABCD pattern with small error while coming down and took support from the 4580 level which I have mentioned in the pre-market analysis. Also Nifty closed the gap which it has opened at the opening and started moving up. This Bullish ABCD pattern gave good reversal signal at the support, Nifty broke all the resistances and moved up with good thrust.

Possible Bullish Gartley in LITL - 3rd sep 09

LITL Chart - Hourly:

LITL formed a Possible Bullish Gartley. Point "D" is still underdeveloped, will update it when it triggers as usual.

Bullish ABCD pattern in Tatasteel - 3rd Sep 09

TataSteel Intraday Chart - 5 mins:

TataSteel formed a Bullish ABCD pattern in 5 min time frame. Long trade already triggered with the stop loss of 402, one can buy in dips.

Tatasteel Chart - Hourly:

In the Hourly charts also it formed a Bullish ABCD pattern (with an error in BC retracement) Also it has formed a descending triangle in hourly charts and gave a good break down for that pattern, trade can be taken with caution. If it reaches the target for the intraday pattern and also breaks out of the horizantal neckline at 433 with good volumes, I will trail for the targets of the ABCD pattern in hourly (454-456).