Update: Flag and Pole in Rcom - 18th Sep 09

Flag and Pole in Rcom, posted earlier. Moving stop loss to 305.9 for next 25% of long holdings.

Update: Flag and Pole in Rcom - 17th Sep 09

Possible Flag and Pole in Rcom, posted earlier. Reached its first target of 317. booked out 50% and moving stop loss to 293 for remaining holdings.

Possible Flag and Pole in Rcom - 15th Sep 09

Rcom Chart - Hourly:

Rcom is consolidating with low volumes after reaching 317, and it is forming like a falling wedge. This wedge not yet fully developed. Which may act like a flag to the previous shooting up move with spiking volumes. If it gives break out with confirming volumes then the first target may be 317 and second target may be 365.

Nifty Technical Analysis For 8th Sep 09

Spot Nifty Chart - Weekly:

Spot Nifty retraced exactly to the 61.8& of the total down move from 2008 Jan to Oct.

Spot Nifty Chart - Daily:

Spot Nifty managed to cross the Resistance and close anove it, but looking at the chart its clear that we may need some more confirmination in next couple of sessions.

Sensex Chart - Daily:

Sensex just closed at the previous pivot high, no breakout here too.

Nifty Chart - Daily:

Nifty has broken the resistance of the trading range decisively. But volumes are not confirming the move, also spread of the bar is not good to conform it as a break out. Break out with thrust didn't happen, one must be cautious with taking new longs. Nifty may reach the height of the Ascending triangle/Trading range as price pattern in indicating.

Nifty Intaraday Chart - 5 mins:

Nifty formed a Flag and Pole pattern on Friday, as I have mentioned in the yesterday's pre-market Analysis. Nifty moved up exactly the same distance as the previous move, instead of moving from the spiking volumes range. The above chart is marked with the Flag and Pole continuation pattern with distance measurement. Trailing strategy from the Target 4740(given target) may have given 60 more points in the intraday.

Nifty Chart - Hourly:

On the higher side Nifty may take resistance from the 4840 levels. Above which it can reach up to 4890 level. 4920 may act as next immediate resistance.

On the lower side Nifty formed a good number support levels, it may take support from the 4760 levels. Below which it may reach up to 4740 levels. If nifty breaks 4740 levels then bears may come into play.

Nifty Technical Analysis For 7th Sep 09

Nifty Intraday Chart - 5 mins:

Nifty formed a Flag and pole pattern in price pattern. It zoomed up with spiking volumes, but volumes were not declining while it is forming flag pattern. If 4700 is taken out with confirming volumes, then the target is 4740 levels one must trade with caution as volumes are not draining in the formation of flag.

Those who are already long from Friday may use trailing stop loss for the target.

Nifty Chart - Daily:

Nifty formed a bullish bar with low volumes, indicating the move with less effort. Nifty has to gain some more volumes to hold the strength and break through the resistance.

Nifty Chart - Hourly:

On the higher side if Nifty breaks 4700 levels with confirming volumes then it may go up to 4740 levels. Above which 4760 is the next resistance.

On the lower side Nifty formed a good support at 4645-4660 levels. below which it may reach up to 4582 levels.

Update: Possible Bullish Gartley in LITL - 4th sep 09

LITL Intraday Chart - 5 mins:

Update on Possible Bullish Gartley in LITL, it formed a a Bullish Wolfe Wave in intraday giving an opportunity to enter the trade at 398. It showed good strength later on, above is the 5 min chart of LITL marked with Wolfe Wave and Flag and pole. I couldn't post this live.

Update: Bearish Flag and Pole in Nifty - 04th Sept 09

Bearish Flag and Pole in Nifty, bearish wolfe wave in 1 min may give good resistance so moving stop loss to the high of the day 4617 + filter(5).

PS: Tata steel Bullish ABCD pattern missed its first target with RS.1

Update: Flag and Pole in GMR Infra - 3rd Sep 09

Exit all here at 137 in GMR Flag and pole.

Update: Flag and pole in Rcom - 2nd Sep 09

Update at 12:44 PM:

It is forming shooting stars, book out 75 % and trail with only 25%

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Rcom Chart - 5 mins:

It reached the target of flag and pole . Again it is consolidating with low volumes after the shooting up with volumes. So trail keeping the stop loss below the consolidation(Approx at 286) and hold till it reaches 293. Book partial profits accordingly in between.

Bearish Flag and Pole in Nifty/RelInfra - 02 Sept 09

Nifty Intraday chart - 5 mins:

RelInfra Intraday Chart - 5 mins:

Watch out for the clear cut breakdown with volumes, Nifty is trying to be in range bound trade would be of high risk. 4600 may act as a good support in between any short trade can be taken below the support level only.

Flag and pole in Rcom - 2nd Sep 09

Rcom Intraday Chart - 5 min:

Rcom formed a flag and pole in 5 min time frame, break out with confirming volumes may give Rs.10 (Trade only breakout). Use trailing stop loss if it gives breakout as nifty is looking weak.

Flag and Pole in IVRCL - Infra

IVRCL Infra Intraday Chart - 5 mins:

It formed a Channel after the sustained up move with increasing volumes. If this channel gets a breakout then it can move up to Rs.400. If the channel gives breakdown then it can fall up to Rs.325

IVRCL Infra Chart - Daily:

On daily charts it formed a descending triangle and gave a break out(volumes are not confirming the breakout but the gap may give good support) On the longer term horizon it is looking good till it holds Rs.280 levels.

Flag and Pole in DLF 1st Sept 09

Update at 12:09 PM:

Exited 75% and keeping trailing stop loss for remaining holdings.

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Update at 11:05 AM:

It reached the first target, second target can be 445.

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Update at 10:14 AM:

DLF opened above the resistance, first target can be 437. One may buy on dips.

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DLF Intraday Chart - 5 mins:

DLF formed a Flag and Pole pattern just below the resistance. If it breaks through the resistance then it may gain Rs.25 more.

Technical Analysis on Chambal Fert - 31 Aug 09

Chambal Fert Intraday Chart - 5 mins:

Chambal Fertilizer formed a Symmetric Triangle with lower volumes in 5 min time frame. Break out or break down with volume confirmation may give the target of the height of the Triangle, which is Rs. 2.50

Chambal Fert Chart - Hourly:

In hourly charts the triangle has formed like a pennant to the pole. As this Triangle formed after the sustained up move with spiking volumes, it acts like a pole and pennant (continuation pattern). If breaks out happens to the triangle in 5 min time frame then the extended target would be the height of the pole which is Rs.5

Update: Flag and Pole in GMR Infra - 28th Aug 09

GMR Infra chart - 5 mins:

It gave breakdown but not with volumes. Only High risk traders can short it with 144 + filter as stop loss for the target of 135.

Flag and Pole in GMR Infra - 27th Aug 09

GMR Infra Intraday Chart - 5 mins, marked with Flag and Pole:

GMR Infra formed a Flag and pole in intraday charts, break down with confirming volumes from this pattern may lead it to 138 and then to 136.9 levels.

GMR Infra Intraday Chart - 5 mins, marked with Symmetric Triangle:

GMR infra formed a Symmetric Triangle in Daily charts, a flag and pole is formed just on the resistance line. Break out from this flag and pole may lead price to Symmetric Triangle's target.

Nifty Intraday Technical Analysis for 21st Aug 09

Nifty Intraday Chart - 5 mins:

Nifty opened a gap down of 25 points, and consolidated in a narrow range for an hour and just above the support level of 4400. Also, it formed a bearish wolfe wave in this consolidation, seen in 1 min chart below.

Nifty Intraday Chart - 1 min marked with bearish Wolfe Wave:

Nifty reached the target of Wolfe wave immediately. It tested the support level thrice and gave a breakout. Nifty formed a bullish flag and pole pattern and gave a good break out. It reached the target of 4485 level in intraday itself. After reaching the target of the flag and pole, Nifty formed another flag and pole which is shown in the first chart(5 min). In the flag it formed the bullish wolfe wave in 1 min time frame.

Nifty Intarady Chart - 1 min marked with Bullish Wolfe Wave:

Nifty reached the target of bullish wolfe wave immediately, and also the flag and pole target of4520 level. On the over all Nifty formed 2 flag and poles and 2 wolfe wave in intrady. all the patterns reached the targets in intraday.

Flag and Pole in Nifty Futures - 13th Jul 09

Nifty Futures forming a good Flag and Pole pattern near crucial support levels. Flag is formed in a very good symmetric triangle. Above is the 5 min chart. Watch out for good volumes at breakout or breakdown.

Will update target values once we have a breakout or breakdown.

Update 12:00 PM:

Triangle gave a Breakdown with volumes. First target is 3905 and the second target is 3760 levels.

Update 12:08 PM :

First target reached :)

Update 1:45 PM:

Stop loss hit for the second target badly

Update: Flag and Pole in SBI - July 01

Short triggered for sbi, first target is already reached, second target is 1735 levels. Below is the 5 min chart of sbi:

Update @12:42:

2nd target for this pattern reached 5 mins back !!

Flag and Pole in SBI - July 01

Flag and pole pattern is formed in SBI, generally these are continuation patterns. Will post the targets when break out happens. Below is the 5 min chart of SBI: