Nifty 7700/- As per the chart nifty is showing both bullish and bearish pattern. Nifty has taken support around 7500-550 levels two time over a period of three months which indicating some bullishness. So till 7500 is taken out decisively bears cannot be dominate. Another thing to be noted is that nifty has also formed H&S pattern and has broken the neck line taken support and approaching the neck line. will it be a H&S failure or not or will move further downward.IF H&S is confirmed that we can expect 600 points from 7700 a target of 7100 so wait and watch.

Mahiidar M

Enjoying Life

Trend is Friend.

HDFC bank Rs.1060/- the stock has not corrected much we would see technically what its pointing towards. HDFC bank seems to have formed triple top over a period of last one year. See the three to four arrows which is indicating that the stock is finding it difficult to move past 1040 and thrice it has failed to pass over it so the upside as of now is limited/restricted. The stock has also finding support at 200 EMA. It appears that the stock is either poised for down wards or is stuck in range. Chances are on down side below 1000. IF 1000 is taken out then 850 would be the probable target.

Mahiidar M
Enjoying Life
Trend is friend.

Maruthi- Rs.4564/- Maruthi is forming a perfect topish pattern as raising triangle. Generally the break out would be in the opposite to the angle of the triangle. In this case the slope is upwards so we can expect the break out to be downwards. The breach of trend line would signal the confirmation of the pattern and its break down. So we have to patiently wait for the break down of the trend line. if the trend line is taken out the the pattern implications are pointing towards probable target of 4000 levels the move would be very swift to the surprise of every body.

Mahiidar M
Enjoying Life
Trend is Friend.

Nifty -7765/-. Nifty appears to be forming heads and shoulders as indicated in the chart above, the pattern is forming for last two and half months any breach of the neck line would propel it to lower levels. The neckline is at around 7700 levels. Any breach of the same would be disastrous for the bulls.The target as per the pattern comes 600 points from 7700 so the probable target comes to 7100. Will the neckline would be broken and 7100 would be achieved or not only time will tell but the neck line is important as of now.

Mahiidar M
Enjoying Life
Trend is Friend.