Reliance

It is in the formation of 7 months Head and Shoulders Top pattern. But right shoulder is on the verge of breakout of 4 weeks Head and Shoulders Bottom and 4 weeks fail descending Triangle. Which is bullish sign. Trade long above 832 for target of 871.

USDINR Final Run

It is in the final run of the third Elliott wave (Intermediate term) in a weekly chart. And at the top end of 6 years channel lines. Weekly closing below 59.90 will confirm it's top. Fourth wave will be downward trending. Rupee may consolidate between 60 to 57 in coming months.

 In Elliott wave daily chart (short term) also it is in third wave. And at the top end of 11 months channel lines. Trade short on rise with stop loss of high (60.76 Spot) for target of 59.80, 59.10 and 58.10 in coming weeks. 

Crude Oil Bull Trap

The monthly and weekly Crude Oil charts have been forming a 9-month triangle within a 3+ year triangle. 

Of great significance, in my opinion, was the upward price breakout in last week of a smaller symmetrical triangle. This upward breakout has now proven to be a classic bull trap.

Trade Short on rise near upper boundary of smaller triangle at 96.7 with stop loss of 100.3 for target of the lower boundary of the smaller triangle at 86.70 and the lower boundary of the bigger triangle at 80.71.

Double Top in Nifty & BankNifty

It may sound too bearish but I am showing the possibilities.The text book definition of Double Top is : Two well defined peaks, narrow, pointed, and separated in time but near the same price. Breakout is downward. Nifty and BankNifty is in similar setup. Long term investment is advisable if Nifty close above 6000 in weekly chart. Double top will be confirm if  Nifty close below 4625 and BankNifty close below 7969. Months of May, Jun, July, Aug and Sep are always crucial and fundamentals are supportive.
 

SBIN

It has broken out of 7 months Head & Shoulders Top pattern 4 weeks ago by closing below neck line at 2057, but SBIN is not able to break trendline resistance, now at 1975. If it close below 1975 than go short on rise with stop loss of 2085 for pattern target of 1645. There is resistance at 12 months rectangle lower channel line at 1837, if broken by closing below it in weekly chart, than target will be 1334. 

PNB

It has breakout of 8 months Head & Shoulders, Top pattern by closing below neck line at 711 in weekly chart. Trade short on every rise with stop loss of 750 for target of 575. 

Cnx Nifty

It is making classic textbook Head and Shoulders Revers Chart Pattern at the top. Neck line breakout is at 5970. Trade short below 5945 with stop loss of 5971 for target of 5835.