NSE SPOT  ( HOURLY CHART) EXPECTED BOUNCE TO 5500

nse spot has made high wave candle on daily chart,

means spinning top with extraordrinary long upper n lower shadows ,

(means mkt searching for direction) and very small body, this is the concept for my view of bounce,
LOOK FOR POSITIVE PRICE ACTION (AS ALL OSCILLATORS RSI/ MACD/  STOCHASTICS  SHOWING POSITIVE DIVERGENCE AND  NSE SPOT MADE A LONG HAMMER AT THE

TRENDLINE SUPPORT OF LINE THROUGH 1 AND 3) GO LONG ABOVE 5275
KEEPING A STOP LOSS ANY WHERE NEAR LOWEST LOW NEAR 5225,  CMP 5275

sell  TATA MOTORS  CMP  1067
tata motors brk dn of HEAD N SHOLDERS PATTERN
TGT  1   de= 105 pts   tgt  f = 1037
TGT  2   200 dma 1022
TGT  3  trendline support  of falling channel    g 1006
TGT   4   AB = 240 PTS  TGTT  C=902
STOPLOSS   CLOSE ABOVE 1142 DECISIVELY

NSE SPOT RETRACED BACK BELOW MID TERM RISING CHANNEL AND
PATTERN TGT  AB=400 PTS   TGT C 5360
CONFLUENCE OF RETRACEMRNT LEVELS  AND MID POINT OF
MID TERM RISING CHANNEL AND SHORT TERM SUPPORTOF FALLING CHANNEL ALL CONFLUENCE AT 5360-5380
MID TERM CHANNEL RESISTANCE AT 5755 AND SHORT TERM RESISTANCE AT 5625 PREV LOW AND 200 DMA 5620

sell wipro 443 / sl 453 / tgt 397

BUY SIEMENS 736/  SL  718 / TGT 756

buy alok ind  26.85/ sl   26.10/ tgt  28.25