- : January 21, 2018
- : Definedge Research
Chart 1 : Nifty PSU Bank / Nifty 50 RS ( Relative strength) chart
Observation : Cluster of Fibonacci ratio is around 329-330 and and RS chart has taken support near that level . Any double top buy level will be interesting from here
Chart 2 : Nifty PSUBANK 0.25% X 3 CL P&F Chart
Observation : Price has taken support near Fibonacci ratio and has given a sign of reversal
Chart 3 : RS ranking score
Below are few P&F chart formations for your observation if Nifty setup remains bullish. Click here to know setup on daily basis.
1) INDIANB
Pattern activation level: Above 387 (Closing basis)
Pattern failure level upon activation: 376 (Closing basis)
Observation: Ziddi bulls , Weak breakout , Double broadening
2) SBIN
Pattern activation level: Between 307-309
Pattern failure level upon activation: 302 (Closing basis)
Observation: Triangle breakout , Low pole
3) BANKBARODA
Pattern activation level: Above 166 (Closing basis)
Pattern failure level upon activation: Below 162 (Closing basis)
Observation: Triple top buy , Probable catapult , 100% pole , Support near fibonacci ratio
4) PNB
Pattern activation level: Between 175-177
Pattern failure level upon activation: 170 (Closing basis)
Observation : 100% Pole , Trap follow through
Disclaimer: charts are shared for education purpose only.
