Unit of Technical Analysis

Reliance has already moved down further, unkess it moves up, we will further move down. nifty has already given a signal

Expected Reversal zone in nifty today.

Nifty Bear phase Targets T1: 50% of Bull run: 13058 T2: 0.236 of Bull Run: 10129. This is based on last 4 Bull- Bear Cycle calculations.

We talked about Nifty Bearish Engulfing, from closing of 17102 on Friday, it mase a low of 16342 around 750 points. We discussed about reaching 16330 levels, the low made was 16342. We talks about Bearish Engulfing in Reliance, it went down from Friday closing of 2790 to 2595, almost down by 200 points.

1.618 level completed

Nifty 50% reversal was the Long tail of Reliance

Long tail.....

Reliance: 2741 is 50% of day range

T2 done

Another Bearish Engulfing Candle in making, if market closed around or below these levels today

Reliance T2: 2702

Relaince 50% retrcement & 1.272 T1

180 points of Gap down opening!!!

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Dow jones Double top and Bearish Engulging in last week

Nifty Bearish Engulfing