SENSEX-NIFTY CHANNEL & FIBO SUPPORTS

HEAD & SHOULDER PATTERNS IN SOME STOCKS

sensex chart

4700 NIFTY TGT ACHIEVED

So many analysts in newspapers and on different forums , are now giving higher tgts for indices,,talking of 5000 in nifty and 17-18000 for sensex.

by gods grace ,i have been trying hard to convince my readers..once nifty took support at 3930 nifty level given here,(,soon after budget day crash).and as i did see ,,BULLISH WEDGE..ON DAILY CHARTS..i immeditely turned bullish and at 4350..and as once those NECK-TREND lines were crossed, i was one of very few ,came out and gave tgt of 5190...offcourse, such high tgts are never to come by easily...there were hurdles to come by..4698 was one..i think its been crossed, with good surge in volumes today.

SENSEX TARGETS 16300 HOW ??..CHARTS..

SENSEX TARGET 16300...HOW ???

I hope readers understand, one important use of fibonacci ratios..as shown in my last post.
NOW, IF we take different legs of the LAST MOVE (down move in our case),as i am posting charts in the next post..as we see the current upmove very strong..if by taking different legs of the prior fall..and if we arrive at a figure..from different reverse ratios of different legs...(1.27 of 1 leg,,1.618 of other)..WE GET A CONFIRMATION OF THE TARGETED ZONE.
AS one will be able to see in the charts..i have taken on hourly charts..last fall post budget to 3915 on daily charts and the whole crash from june high..(4691--3915)..we can arrive at a figure around 4850..and 16300...so these should be the MOST PROBABLE targets.

FIBONACCI RATIOS::::MY WAY:::CHARTS

FIBONACCI RATIOS :::MY WAY TO USE THEM FOR TARGETS

I have been demonstrating lots of charts , in powerfull moves on both sides, showing the way ,how i use fibonacci ratios, to arrive at targets.

if readers are still confused, here i am trying to explain one important method.

When , i find a sudden fast move in the opposite direction of the current trend,,(doesnt matter, if the move is in 1 min chart or on hourly charts)..i simply take retracement ratios (1.27,1.618 and 2.618)..for THE LATEST move in the current trend.

IF the current trend is down, and i see a fast upmove on the upside, i take last leg of the down move and take reverse fibonacci ratios. 1.27..1.618 and 2.618 levels are my 1,2,3 targets and
also resistance levels.
here is an example of 1 min nifty chart.
now if by using some additional ta tools, we find that the recent up move has

more steam in it,than we have to take, one higher leg of the prev. fall to get higher targets,in this following chart, a reader can see ,how wonderfull these levels works.