Index Update

Nifty today given a breakdown below old rising channel but not sustained & again back in channel.

Now if 9680 taken out & sustain than on upside 9760 possible now Channel top

Below 9600 fast fall possible in Nifty

Bankex formed a Beautiful rising wedge

Rsi gets support at trendline.

If both break same time than a big down can be witnessed in them.

Ideally below 23427 better to short now

Nifty Bankex Update

Nifty after huge rally looking tired

Trading in a rising channel

Below 9635 first sign of weakness, below 9610 can go for nxt support at 9440

Bankex same case a rising wedge in formation
Below 23320 can down with full speed towards 22800-22500 level
Rbi event may trigger

Nifty Update

Nifty in formation of a Broadening wedge pattern at 9600++

Projection says wave -V completion in range 9614-9680 range

Taking small risk with sl above 9702 for channel bottom coming around 9360

Asian Paints

Asian Paints formed a Fabulous pattern in down side

A Broadening wedge formation.

Short with keeping sl above 1155

For downside level of 1070 around

Excellent risk reward ratio

Nifty & Bankex Update

Nifty with today low of 9340 completed Wolf wave

If 9310 safe than we may witness a Good bounce soon in Nifty till 9420-9450++

Bankex today in tight range made a new low near 22471 but bounce while closing
Completed its Wolf Wave as posted chart yesterday.

Now if Today low safe than a bounce till 22650-22780 possible
Below Today low Bankex can go till 22300

Nifty & Bankex Update

Bankex today forming a nice wedge pattern

If tomorrow a new low formed & Up than WW may trigger big for 22700-900++

But if sustain below 22500 than a big breakdown possible

Nifty too forming a WW
If Today lows saved than it may trigger Upmove towards 9480-9510 again

Bank Nifty Update

Bankex made more confusion today

While it breaks above old high but not sustain for few minutes

What Nxt

Pattern suggesting a Symtric Triangle at top which some times Reversal Pattern too.

Now Short below 22620 Only & Long above 22920

Its in a Broad range of 300 points, But any side Breakout will bring a 600++ point move..

Downside looking for 21900 again & Upside 23200++