Unit of Technical Analysis

WE reach the 0.786 level 17208.59, lets see market reaction from this point for direction

2 strong pullbacks from 0.236 levels of day range

we may expect gap filling or coming to 0.5 levels

Nifty 2-5-8 pattern for uptrend

Bullish Divergence on Hourly Chart

completion of 1.618 reversal+ Double top + 50% retracement of day range.

no retracement during the day+ bearish divergence+ rising wedge Target was 0.236 of day range 17111 at which I terminated a call

Expected reversal zone

Quick buck while knowing how the pattern works

Nifty has also completed 1.618 retracement (17000) on weekly chart. we should be see a retracment cycle with range and then around 0.246/0.5 pullback before we take long trades.

Bank Nifty has completed 1.618 retracement on weekly as informed on 19th Nov. T1 & T2 completed last week.

ITC Multibagger: has given a breakout on monthly chart. backtesting done and gradually moving up. Stock can double form here onwards in next 10-12 months.

Good consolidation since last 4 months. between 1.618 & 2.618 levels. Weekly levels loook good above 770 next resistance at 914, above which we can see good upmove.

Adani Ports:

Yesterday's retracement levels

Retracement confirmation with double Bottom as provided yesterday on chart. market retraced with 2-5-8 pattern (support at 0.236/ 0.5/0.786 respectively) on completion of 1.618 gave a 50% retracement upto 1 level and then again started moving up.

entry levels for long if this is completion of Downtrend reversal. trade with strict SL and confirmation of reversal for uptrend