NIFTY one minute chart inverse head and shoulders

UPDATED CHART

ONE MINUTE CHART

• NIFTY one minute chart shows price bottom with an inverse head and shoulders in one minute.

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NIFTY 5 minutes chart shows a bigger inverse H&S

• NIFTY 5 minutes also shows an inverse H&S.
• the neckline is broken and the price is retesting the neckline. 

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RELIANCE industries positive divergence in 30 minutes chart

RELIANCE 30 MINUTES CHART

• 30 minutes chart of reliance industries shows clear positive divergence.
• price has not yet reacted yet.

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ANDHRA BANK cup and handle pattern

ANDHRA BANK WEEKLY CHART

• ANDHRA BANK weekly chart shows the break out from a cup and handle pattern
• the break out is accompanied by good volume increase
• Target according to cup and handle pattern rules is 200. 129 is the break out area this should be kept as stop loss for long trades.

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head and shoulders effect on nifty daily chart

NIFTY DAILY CHART

• Another example of a classic pattern showing its effect at the top of the trend.
• Not a perfect form of H&S, But we have seen complex forms of H&S in the past giving great trading opportunities.
• this one has it's target around 5000.

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Nifty 30 minutes technical analysis

UPDATED CHART FOR BELOW TRADE

MACD 30 MINUTES

• If we manage to move past today's high 5110 and yesterdays low 5134 and a close above it will be positive for the short term
• MACD 30 minutes has given a buy

RELIANCE industries technical analysis

RELIANCE DAILY CHART

• RELIANCE INDUSTRIES daily chart shows positive divergence developing in daily chart.
• Stock is moving down in a channel.
• Stock may get support at 990-1000 region. 
• Keep 980 as stop loss and one can go long from 990 to 1000 region for an upside target of 1150.

Trade is based on the support given by the ascending trend line. If the stock breaks and closes below the trend line this trade is not valid and one should exit.

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