Weekly Market Research Report 14-09-19 (Kagi Chart)

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Kagi Chart: The Kagi chart uses a series of vertical lines which depict the movement of price.

A horizontal line connects these vertical lines. The horizontal lines represent any change in the trend. Each horizontal line depicts a high or low. A line moving from a low to a high is known as an up bar whereas a line running from a high to a low is called a down bar. These lines are also popularly known as YIN and YANG lines.

 

  • The NIFTYchart shows inverted 3 Buddha bottoms. As the name implies, these look like inverse head-and-shoulders patterns. The left waist forms the first low, the Buddha head forms the middle low and the right waist forms the third low. The Buddha low is clearly the lowest of the three, while the other two are relatively equal. A break above resistance confirms the reversal.
  • Kagi peaks (shoulders) and troughs (waists) are also referred to as levels. A series of shoulders can mark a resistance zone, while a series of waists can mark a support zone. Chartists can look for a break of two or more levels to trigger a trend change.
  • Buddha bottoms in NIFTY.

Looks good above resistance line.

Use Kagi Chart from : Chart(Menu) > “Chart – Point & Figure, Kagi, Renko, Darvas”.

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Inverted Head & Shoulders Pattern In MARUTI (weekly chart)

Looks good.

Can be : 6940, 7240 & 7540

Looks weak below : 6040.

Used Retracement to draw levels.

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Falling Wedge Pattern in  MOTHERSUMI (weekly chart)

 

Looks good above: 108

Can be: 118, 128 & 138.

Looks weak below: 97.

Used Retracement to draw levels.

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