Weekly Market Research Report 22-02-20

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Gap Analysis : A gap is essentially a change in prices levels between the close and the open of two consecutive days. Gap analysis requires confirmation that is only available after the price movement actually manifects itself. For example, there are different types of gaps like Breakaway Gap, Runaway Gap, Exhaustion Gap and Island Reversal.

 

“Island Reversal” : An island reversal is short-term reversal pattern that forms with two overlapping gaps. Traders with positions taken between the two gaps are stuck with losing positions. A bullish island reversal forms with a gap down, short consolidation and gap up. A bearish island reversal forms with a gap up, short consolidation and gap down.

 

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 Island Reversal Pattern in NIFTY (Daily chart)

 

 

Looks Good Above: 12042.

Can be: 12227, 12319 & 12412.

Looks Weak Below : 12042.

Can be: 11949, 11856 & 11764.

 

Used Retracement to draw levels.

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Inverted Head & Shoulders Pattern In BANKNIFTY (Daily chart)

 

 

Looks Good Above Trendline.

Can be: 31851, 32425, & 32999.

Looks Weak Below Trendline.

Can be : 30319, 29745 & 29171

 

Used Retracement to draw levels.

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Downside Channel in SBIN (Daily chart)

 

 

Looks Good Above Trendline.

Can be: 339, 350 & 360.

Looks Weak Below Trendline.

Can be: 308, 297 & 287.

 

Used Retracement to draw levels.

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