A new cycle starts in Bharat Fin. This cycle may lead the price up to 1015 to 1004. Trader’s can try to make new short in this instrument near about 1044 with a stop loss of 1056 for a target range of 1015 to 1004.
This bearish pattern can be seen on the following chart and was detected by Alert™ proprietary Attri Forecast Co.
Since 2000, the NIFTY 50 Index has risen on average 41.66% on the 5th trading day of February. The Index has had a negative return on this day in -0.26% of years since 2000. The following chart shows the return of every February 5TD since 2000.
On the seasonality system, only BPCL gave notable daily average return around 1.82%. Even this instrument did not give any speciﬁc indication for any trend. But Wipro gave a negative sentiment on the seasonal pattern. Wipro has risen only 25% on the 5th trading day of February.
Today I detected a “Symmetrical Continuation Triangle (Bearish)” chart pattern formed on Gujrat Industries Power Company Ltd. This bearish signal indicates that the stock price may fall from the close of 139 to the 130. The pattern formed over 46 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of classic technical analysis.
This commentary and Expert are not recommendations to buy or sell, but rather a guideline to interpreting the indicators and chart patterns. This information should only be used by investors who are aware of the risk inherent in securities trading. Investors are further advised that successful investing is more art than science and, therefore, no strategy, chart, graph, system, method, formula, theory or philosophy can guarantee profitable results. Investors should understand that any security investment involves a degree of risk. The facts, information, data, indicators and charts presented have been obtained from sources believed to be reliable, but their accuracy and completeness cannot be guaranteed. Before making specific investments, further investigation and confirming analysis with other indicators is recommended. Attri Forecast Co. accepts no liability whatsoever for any loss arising from any use of this expert or its contents.