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Butterfly Pattern |
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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Post: #196  Posted: Sat Jun 07, 2014 7:00 pm Post subject: Re: Nity Fut - 1HR CHART WITH BUTTERFLY |
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| sureenderkalra wrote: | | saumya12 wrote: | Hi
Thanks for posting various Harm. Patterns.
Do you find any such pattern under formation for NIFTY |
Yes, Nity Fut - 1HR CHART too is with butterfly pattern. Nifty has confirmed this pattern yesterday having moved up above its 'B' Pivot point while banknifty -1hr chart has to confirm the same.
Nifty's potential reversal zone is between 7746 and 7905.
Chart is attached |
I would reiterate that 7670-7703 should be cleared....if yes....target likely in this move is 7870/7905/7930 and not 7750.... Bulls can his play for 60-70 point gain till 7670 and exit and renter only above 7705 nitty spot.....above can be trading strategy in light of butterfly target of 7905....stop 7583/7557/7495 as per choice |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #197 Posted: Sat Jun 07, 2014 8:22 pm Post subject: Re: Nity Fut - 1HR CHART WITH BUTTERFLY |
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| sureenderkalra wrote: | | saumya12 wrote: | Hi
Thanks for posting various Harm. Patterns.
Do you find any such pattern under formation for NIFTY |
Yes, Nity Fut - 1HR CHART too is with butterfly pattern. Nifty has confirmed this pattern yesterday having moved up above its 'B' Pivot point while banknifty -1hr chart has to confirm the same.
Nifty's potential reversal zone is between 7746 and 7905.
Chart is attached |
Thanks Sureender, for your well explained charts of NF and BN.
Though my levels are slightly above in NF and somewhat lower in BNF
But never mind I am a new entrant in the field of these patterns and still in learning stage. |
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dynamite_munda11
Yellow Belt
Joined: 14 Nov 2010
Posts: 681
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| Post: #198 Posted: Mon Jun 09, 2014 9:54 am Post subject: Re: LT monthly |
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| dynamite_munda11 wrote: | lt monthly bearish crab in progress and completed 200% of ab at 1680 and has the potential to trgt1729/ 1799/1870/1890
1.27 of XA at 1729 above this it has potential to trgt 1822/1870 |
LARSEN above 1729 |
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dynamite_munda11
Yellow Belt
Joined: 14 Nov 2010
Posts: 681
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| Post: #199 Posted: Tue Jun 10, 2014 7:53 am Post subject: ACC weekly |
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| ACC weekly completed bearish butterfly at 1526/29 |
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #200 Posted: Tue Jun 10, 2014 9:03 am Post subject: Re: ACC weekly |
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| dynamite_munda11 wrote: | | ACC weekly completed bearish butterfly at 1526/29 |
It can be a Break out trade in ACC as well. |
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dynamite_munda11
Yellow Belt
Joined: 14 Nov 2010
Posts: 681
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| Post: #201 Posted: Tue Jun 10, 2014 10:53 am Post subject: sbin 15 min |
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| sbin 15 min |
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dynamite_munda11
Yellow Belt
Joined: 14 Nov 2010
Posts: 681
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| Post: #202 Posted: Thu Jun 12, 2014 9:13 am Post subject: |
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| acc dn from 1526 has support at 1468 and below that 1448/45 |
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dynamite_munda11
Yellow Belt
Joined: 14 Nov 2010
Posts: 681
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| Post: #203 Posted: Fri Jun 13, 2014 9:09 am Post subject: wipro daily |
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| wipro long call at 484 met with trgts of 540 around at present 540 resistance lvl and above 540 has the potential to trgt 572/574 |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #204 Posted: Sat Jun 14, 2014 2:16 pm Post subject: Re: Nity Fut - 1HR CHART WITH BUTTERFLY |
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| amitagg wrote: | | sureenderkalra wrote: | | saumya12 wrote: | Hi
Thanks for posting various Harm. Patterns.
Do you find any such pattern under formation for NIFTY |
Yes, Nity Fut - 1HR CHART too is with butterfly pattern. Nifty has confirmed this pattern yesterday having moved up above its 'B' Pivot point while banknifty -1hr chart has to confirm the same.
Nifty's potential reversal zone is between 7746 and 7905.
Chart is attached |
I would reiterate that 7670-7703 should be cleared....if yes....target likely in this move is 7870/7905/7930 and not 7750.... Bulls can his play for 60-70 point gain till 7670 and exit and renter only above 7705 nitty spot.....above can be trading strategy in light of butterfly target of 7905... |
as happened.... |
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Rahulsharmaat
Black Belt
Joined: 04 Nov 2009
Posts: 2766
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| Post: #205 Posted: Sat Jun 14, 2014 8:40 pm Post subject: |
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| wipro was great |
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sureenderkalra
White Belt
Joined: 11 Dec 2012
Posts: 174
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| Post: #206 Posted: Sat Jun 14, 2014 11:06 pm Post subject: Re: Nity Fut - 1HR CHART WITH BUTTERFLY |
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| amitagg wrote: | | amitagg wrote: | | sureenderkalra wrote: | | saumya12 wrote: | Hi
Thanks for posting various Harm. Patterns.
Do you find any such pattern under formation for NIFTY |
Yes, Nity Fut - 1HR CHART too is with butterfly pattern. Nifty has confirmed this pattern yesterday having moved up above its 'B' Pivot point while banknifty -1hr chart has to confirm the same.
Nifty's potential reversal zone is between 7746 and 7905.
Chart is attached |
I would reiterate that 7670-7703 should be cleared....if yes....target likely in this move is 7870/7905/7930 and not 7750.... Bulls can his play for 60-70 point gain till 7670 and exit and renter only above 7705 nitty spot.....above can be trading strategy in light of butterfly target of 7905... |
as happened.... |
you were right amit NF reversed from 7714.95 without hitting my potential reversal point i.e. 7746 since NF-1hr chart is holding head & shoulder pattern with a target of 7500 and I was also thinking that NF would at least touch 7513 when it started its reversal.
In my opinion, nf has given us its high for a month and it might reverse again after touching either 7513 that is convergent to B pivot point or 61.8 of CD @ 7411. It will reverse but not to make a new high in this month.
What's your view? |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #207 Posted: Sun Jun 15, 2014 6:27 pm Post subject: Re: Nity Fut - 1HR CHART WITH BUTTERFLY |
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| sureenderkalra wrote: | | amitagg wrote: | | amitagg wrote: | | sureenderkalra wrote: | | saumya12 wrote: | Hi
Thanks for posting various Harm. Patterns.
Do you find any such pattern under formation for NIFTY |
Yes, Nity Fut - 1HR CHART too is with butterfly pattern. Nifty has confirmed this pattern yesterday having moved up above its 'B' Pivot point while banknifty -1hr chart has to confirm the same.
Nifty's potential reversal zone is between 7746 and 7905.
Chart is attached |
I would reiterate that 7670-7703 should be cleared....if yes....target likely in this move is 7870/7905/7930 and not 7750.... Bulls can his play for 60-70 point gain till 7670 and exit and renter only above 7705 nitty spot.....above can be trading strategy in light of butterfly target of 7905... |
as happened.... |
you were right amit NF reversed from 7714.95 without hitting my potential reversal point i.e. 7746 since NF-1hr chart is holding head & shoulder pattern with a target of 7500 and I was also thinking that NF would at least touch 7513 when it started its reversal.
In my opinion, nf has given us its high for a month and it might reverse again after touching either 7513 that is convergent to B pivot point or 61.8 of CD @ 7411. It will reverse but not to make a new high in this month.
What's your view? |
Yes also consider NF level of 7523 ( mirroring spot demand level from where NS reversed to close above) for closer profit booking since most are expecting 7497 etc. No rampant shorting required since bull market retraces shall be sharp and advised to enter early. So 7593/7603 is better shorting level....,,,
No need to project way down targets for trading / investment.
We have plethora of systems in icharts which give a buy or sell signal anyhow.
Just go ahead and buy for investment at weekly or monthly demand zones or lower prices......
7360/7435 shall be watched by me. |
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dynamite_munda11
Yellow Belt
Joined: 14 Nov 2010
Posts: 681
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| Post: #208 Posted: Mon Jun 16, 2014 8:45 am Post subject: bharti airtel daily |
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| bharti airtel daily has support around 322/323 and shark trgt from 367 too at 322, long near 321/322/323/324 with a mild stop of 3/4 points |
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surkalra
White Belt
Joined: 02 May 2013
Posts: 1
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| Post: #209 Posted: Mon Jun 16, 2014 9:04 pm Post subject: Re: Nity Fut - 1HR CHART WITH BUTTERFLY |
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| amitagg wrote: | | sureenderkalra wrote: | | amitagg wrote: | | amitagg wrote: | | sureenderkalra wrote: | | saumya12 wrote: | Hi
Thanks for posting various Harm. Patterns.
Do you find any such pattern under formation for NIFTY |
Yes, Nity Fut - 1HR CHART too is with butterfly pattern. Nifty has confirmed this pattern yesterday having moved up above its 'B' Pivot point while banknifty -1hr chart has to confirm the same.
Nifty's potential reversal zone is between 7746 and 7905.
Chart is attached |
I would reiterate that 7670-7703 should be cleared....if yes....target likely in this move is 7870/7905/7930 and not 7750.... Bulls can his play for 60-70 point gain till 7670 and exit and renter only above 7705 nitty spot.....above can be trading strategy in light of butterfly target of 7905... |
as happened.... |
you were right amit NF reversed from 7714.95 without hitting my potential reversal point i.e. 7746 since NF-1hr chart is holding head & shoulder pattern with a target of 7500 and I was also thinking that NF would at least touch 7513 when it started its reversal.
In my opinion, nf has given us its high for a month and it might reverse again after touching either 7513 that is convergent to B pivot point or 61.8 of CD @ 7411. It will reverse but not to make a new high in this month.
What's your view? |
Yes also consider NF level of 7523 ( mirroring spot demand level from where NS reversed to close above) for closer profit booking since most are expecting 7497 etc. No rampant shorting required since bull market retraces shall be sharp and advised to enter early. So 7593/7603 is better shorting level....,,,
No need to project way down targets for trading / investment.
We have plethora of systems in icharts which give a buy or sell signal anyhow.
Just go ahead and buy for investment at weekly or monthly demand zones or lower prices......
7360/7435 shall be watched by me. |
As expected, Nifty Fut reversed little a bit after touching 6513, its major support level.
We will see tussle between bulls and bears tomorrow but Nifty Fut will be able to hit 6610 - 20 and reverse for 50-60 points.
Yesterday I made a statement that nifty has made a high for this month. But some points still indicate that nifty fut might move either way. So I take my words back for the time being. I will come later in this regard. |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #210 Posted: Mon Jun 16, 2014 11:20 pm Post subject: |
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| You were precise to the decimals. And as expected shorting at 7523 would have been counter productive. You are also right in saying that you shall watch miove around 7620..... 7608/7628 are pivot resistances and spot sustaining above 7575 would invalidate the breakdown.....I still believe that 7680 shall not be crossed |
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