Friday, September 6, 2013

Bull Flag Pattern Formation in USDINR with Base @ 58.65 & 60.4 ...




Bull Flag Pattern Formation 
Base @ 58.65 and 2nd Base @ 60.4
Point D expected to test at 65.15 and reversal is expected fome the support level of 65, if reversal is seen from 65 will try to test 68 level which will be point E and expected Breakout l Level.
Height of the pole 1 is 10.5 & Height of the Pole 2 is 8.75
Expected Breakout @ 68
Target expected - 76.75 - 78.5


Nifty Topout @ 5700 - 5720 a-b-c Pattern formation. Expacted Target 4700 in near term


Nifty looking at the chart is making a formation of A-B - C where point C has retraced by 61.8% retracement of A-B, if this resistance of 5720 is holding then will give a good reversal in market where on lower side 100% expansiion which comes to 4700 is expected to test soon in near term.