In infrastructure companies in india the worst is over and the only direction it can go is up. GMR Infra has made more than 2 years bottom. And given breakout on weekly chart with formation of 16 months Head & Shoulders - Bottom pattern. Trade long with stop loss of 23 for target of 33 and 45. (CMP 25.75)
It has breakdown of 6 months Double Top and 5 months Wedge patterns. Trade short, if close below 168 with stop loss range of 188 to 178 for target of 145 to 135.
HDFC complete it consolidation. It is on the verge of a breakout, of 6 months Rectangle and Head & Shoulders Bottom patterns. Trade long, if close above 860 with stop loss range of 830 to 850 for target range of 930 to 960.
This chart is the classic example of big patterns are launch with the formation of small patterns. Cipla is in a 13 months rectangle pattern, between 426 to 364. And 8 month Head and Shoulders Top with neckline at 378. It has close to consecutive weeks below 378. Trade short if close below 364 with stop loss of 378 for target of 300.
It has form 13 months Head and Shoulders bottom. Friday close above Neckline of 356 as confirmed the pattern. In daily chart the right shoulder is 3 months Ascending Triangle. Trade long for target of 395 to 430.
The daily chart of Reliance Industries ltd. is forming a textbook H&S Top pattern. Note the symmetry between the two shoulders in both duration and depth. A decisive close below 836 would complete this pattern and establish an initial downside target of 800 to 765.
The longest term chart shows that the Rupee has been in an historical trend of depreciation against the USD. The Rupee is coiling within a 5-months Descending triangle on the daily chart. The daily chart shows that the jump today has resolved a 5-month trading range. If this move in the USDINR holds, it will prove to be the blast off in the next phase of Rupee depreciation. Very possibly a target to 64 to 65.75.
ACC has Breakdown of classic textbook Double Top pattern after 5 months of consolidation. Trade short with stop loss of 1040 for target of 880 in coming months.
The Daily chart of Nifty is forming a textbook H&S Top pattern. Note the symmetry between the two shoulders in both duration and depth. If this analysis is correct, Nifty may have already established a right shoulder top. A decisive close below 6130 would complete this pattern and establish an initial downside target of 5920.
Entire Banking Sector stocks has given downward breakout of there short term bearish pattern. KMB has breakdown of 8 weeks Head & Shoulders top. Trade short with stop loss of 732 for target of 675.