BGRENERGY on a strong reversal mood.

Hi friends, after ECB, FED, and RBI announcement today's market is little quiet, but in this quiet market BGRENERGY silently formed HH-HL pattern on daily basis, though market hasn't closed yet, I think BGRENERGY silently done the reversal move. Though it is looking tough to define a small stop loss but on 30 minute chart and 240 minute chart both showing 271, let's cut another 1 Rupee and keep the SL 270.00 and best entry price 274-275 (CMP 277, can take a small qty) tgt will be 290, 302. First target is little small. Buy my point of view is it has changed its longer term down trend. So friend if Risk:Reward is not looking impressive for you, don't buy, besides I would like to suggest please don't short now at least. Wish you all have a happy reversal.

AXISBANK on the reversal

 Hi friends, look at AXISBANK chart, I think it is going to be reverse. I would like to take a long position. 1001-1005 will be the best level, Target will be 1114. Have a happy holding.

NIFTY next destination 5950??

Reverse Head and Shoulder Pattern

Hi friends, hope you remember I posted Nifty view with the help of MACD oscillator on 11/09/2012 that, this time5433 won't able to stopped it, though ECB and FED helped NIFTY like a positive catalyst  to crossed the level. And now as per my view 5613-5740 is another SZ as per weekly chart, but I think this time even 5740 cant stopped NIFTY as it is going to be third test of the zone (See the picture). Weekly MACD looking steady and strong, HH-HL formation in Daily chart till holding, Nifty going to be boom as per my view the next destination is 5950. Please dont Shocked ....It is forming a Reverse Head and Shoulder pattern, I have taken it from 31 Dec 2010 , top of 6181, but if we try to more purify the same pattern and assume the left shoulder is started from 8 Apr 2011's top 5944 yet the pattern must complete above 5944... thats why I suppose Nifty wont stop bellow 5950...Be cautious of your short position.