Nifty updates

Nifty spot  Range for Next week is 7880-8180. if Nifty sustain above 8061 then it can touch the level of 8180 or, for downside if touches the low of previous low of 7667 then next support for nifty can be 7591.

Further level are given in Chart. pls ask incase you required any clarification on any chart or stock.

Stocks in News Today

Stocks in news today are HDFC,TCS,InFy,SBIN,LT,Axis Bank,
ICICI Bank, TATAeLXI,REliance , sunpharma, Ashokley Bank of Baroda,Glenmark

Bullish Harami Pattern

The bullish harami is made up of two candlesticks. The first has a large body and the second a small body that is totally encompassed by the first. There are four possible combinations: white/white, white/black, black/white and black/black. Whether they are bullish reversal or bearish reversal patterns, all harami look the same. Their bullish or bearish nature depends on the preceding trend. Harami are considered potential bullish reversals after a decline and potential bearish reversals after an advance. No matter what the color of the first candlestick, the smaller the body of the second candlestick is, the more likely the reversal. If the small candlestick is a doji, the chances of a reversal increase.

Harami Black Patterns found in Nifty spot along with these stocks:

Techmahindra

Tatasteel

Reliance

Punjab national bank

ONGC

Mahundra and Mahindra

Lursen and turbo

Hindustan uniliver

Hindalco

HDFC Bank

GRASIM

DR Ready

Cipla

Cairns

Boschltd

Bhel

Bharti

Bajaj Auto

Nifty is making Flag pattern on weekly chart. And Nifty taken support at 38.2 % Retracement value on 7667 for today. If Nifty brakes this level in this current week then it take take support on 7591 that is Gap up point on daily chart. And if Nifty closes below 7667 and sustain then we can see the 7188 level

Nifty Making Flag pattern on weekly chart

Flag pattern are commonly seen in price charts of financially traded assets like stocks, bonds, futures,

when there is sharp price movement followed by generally sideways movement that can be reffered as FLAG patterns.The pattern is complete when there is a price breakout in the same direction of the initial sharp price movement.The following move will see a similarly sharp move in the same direction as the prior sharp move. The complete move of the chart pattern - from the first sharp move to the last sharp move - is referred to as the flag pole.
Nifty is making Flag pattern on weekly chart. And Nifty taken support at 38.2 % Retracement value on 7667 for today. If Nifty brakes this level in this current week then it take take support on 7591 that is Gap up point on daily chart. And if Nifty closes below 7667 and sustain then we can see the 7188 level.

3 reasons why the nifty crashed today

Nifty plunges more than 300 points that is allmost 4 percent and it can be said that this is one of the biggest fall in this year.

Main reason for nifty metdown are rupee hits 66.49 against US Dollor tracking lower asian market.
China stocks in morning freefall as pension rules fail to inspire.
Brent and U.S. crudeoil future hits six and half year lows.




If nifty closes below 7940 then it can take support on 7800 .

Now we will can start in Long position for target of 8200.

Three black crows chart pattern

Three black crows chart pattern is symbol of market downturn on candlestick chart. This pattern confirms that bull market time is over and bear market time has started,as Nifty completed three black crows patterns recently and earlier also so we will  apply this rule in NIFTY chart nad will try to
understand Three black crows Chart pattern IF and BUT,

AS we can see this pattern in chart

Nifty completed three black crows pattern on 12 august and next day it closes in red on 13 august so we can conclude that overall pattern is bearish but today we have seen around 160 point positive closing, the kind of profit booking of short position. As we have seen that nifty also made the same pattern on 28th august and it given moves from 8338 to 8606 and this week same pattern .so that nifty range is 8650 of upper level and 8300 for lower level in next week have to trade in this range.

so i would like to suggest all member reading my blogs, first of all have to decide the range,then trade in that particular range .

we have cover Three black crows pattern today with example. and in future also we will catch more chart patterns with chart .

State bank of india chart and book profit