TECHNICAL PREDICTIONS FOR 22ND DEC. December 20, 2014 by Ashok Goel·0 Comment NIFTY(8225.20) Although Nifty made a high above its 50 Day moving average at 8263, but closed below its opening at 8225, below its 50 Day moving average. It gave away all the gains made today, indicating its reluctance to go and stay up. All its oscillators, despite its two days gains are still in negative zone. It looks difficult for nifty to maintain and continue the gains made on 18th Dec. The momentum is below Zero level. RSI is still struggling below 30 levels. MACD is below its signal level. Stochastics are struggling at its 20 levels. On candlestick charts, it has made a “Falling Three Methods” Pattern. Under this pattern- A down trend is underway, when it is further perpetuated with a long black candlestick. The next three days produce small body days that move aginst the trend. It is best the bodies of these reactionary days are white. The last day’s body, though opens at a gap up, makes a new high but closes on or near the open. This indicates, that the markets rest is over. This pattern gives an indication that after continous fall, the market was resting and noe refuses to go up or stay itself at the same level. Now, if tommorrow or day after it moves below todays closing, it is bound to make a new low. So, it will ne advisable not to make fresh buying position and sell if nifty opens or trade below 8225 for a reasonable period. SELL nifty below 8225 with a Stop Loss of 8256 and a target of 8201 and 8177. If Nifty continously trades below 8225, it can make a new low which can be below 8082. But keep your Stop Loss intact on all your selling positions. Try to keep a trailng Stop Loss. nifty19th dec. ACC(1380.40) On Charts , the stock has made a “Bullish Breakaway” Pattern which comes during a down trend and represents an acceleration of selling to a possible oversold position. The pattern starts with a long black day. After the down gap, the next three days set consecutively lower prices. All days in this pattern are black, with the exception of the third day, which may either be black or white. It is important to realize what is being accomplished here: the trend has accelerated with a big gap and then starts to fizzle, but it still moves in the same direction. The slow deterioration of the trend is quite evident from this pattern. What causes the reversal implication is that the gap has not been filled. A short term reversal is likely to take place. BUY with a Stop Loss of 1370 and a target of 1395 BANK NIFTY(18478.90) On Charts the scrip has made a “Falling Three Methods” Pattern which has bearish implications. This pattern has already been explained in detail under “Nifty”. SELL with a Stop Loss of 18557 and a target of 18407 and 18335. SBI(304.15) On Charts the stock has made a “Two Crows” Pattern, which has bearish implications. The market has had a extended up move. A gp higher followed by a lower close for the second day shows that there is some weakness in the rally. The third day opens higher, but not above the open of the previous day, and then sells off. This sell off closes well into or near the body of the first day. This has closed the gap and given us the pattern almost similar to Dark Cloud Cover if the last two days of the Two Cows pattern were combined into a single candleline. The bullishness has to be eroding quickly. SELL with a Stop Loss of 309 with a target of 298 and 292. sbi 19th dec. SOME OTHER PREDICTIONS : BAJAJ AUTO(2473.55) It has made a Bullish “Stick Sandwich” Pattern. BUY with a Stop Loss of 2443 and a target of 2513 and 2553. BANK OF BARODA(1040.40) It has made a “Dark Cloud” Pattern SELL with a Stop Loss of 1049 and a target of 1025 and 1011. BHEL(259.05) It has made an “Evening Star” Pattern. SELL with a Stop Loss of 264 and a target of 256 and 253. HDFC BANK(941.45) It has made a “Falling Three Methods” Pattern. SELL with a Stop Loss of 949 and a target of 932. HERO MOTORS(3074.10) It has made a ” Squeeze Alert” Pattern. BUY with a Stop Loss of 3026 and a target of 3135. INFOSYS(1998.65) It has made an “Abandoned Baby” Pattern on upside. SELL with a Stop Loss of 2010 and a target of 1987 and 1975. RAYMONDS(508.50) It has made a ” Shooting Star “ Pattern. SELL with a Stop Loss of 512 and a target of 582. TATA MOTORS(484.25) It has made a “Falling Three Methods” Pattern. SELL with a Stop Loss of 490 and a target of 480 and 475. TATA CHEMICALS(422.65) It has made a “Bullish Thursting” Pattern. BUY with a Stop Loss of 417 and a target of 429 and 436. Read more a2analysts/
Posted on: Sat, 20 Dec 2014 09:51:12 +0000
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