it appears .we can get appreciable move next week. the correction that has been going on was 4 th wave pull back. Bracketed no indicates major waves, while nos not bracketed indicates the subwaves of wave 3. This week for bank nifty is NR7 week. It appears the correction of public sectore banks like sbi,bank of boroda and canara bank are over,and this week happens...
Bank nifty has been trading as inside bar of the mother candle formed on 5 th may. today it has formed the triangle as shown in the chart. the target and stop loss are shown in the chart. please go through my previous posts of bank nifty.
Divergence between price and oscillator seen. This is weekly chart. please go through my earlier posts posted few days back. where I have been tracking bank nifty regularly. completion of correction and turn around. Please don't try to short bank nifty as of now. now bank nifty is likely fill the gap which it has left behind during this down trend that is...
I will try to cover starting from weekly chart. Gradually try to proceed to daily and hourly chart. Now convnicingly trading above 20 weekly average. and is at important resistance level and as per present trend it is likely to over come this. H&S break down once negated as shown in the chart. In reality in bullish market H&S break down never matterilizes and...
do you think its rally will stop here? In larger time frame its 3 rd wave in progress. it has not completed yet. in smaller time frame its 5 th wave is in progress. after that we can get a pull back . and rally is going to sustain. please go through my earlier posts of ITC. first I spotted its splendid chart on april 14 2022,when its price was 269. Do connect with...
As suggested my previous charts Bank nifty is likely to move further . I have been tracking it.But don't get time to publish here regularly. some of my followers do miss my posts ,as told by them. Bank nifty up trend is on. Any pull back is an opportunity to buy at this moment. suggested levels are shown in the chart. Do connect with me by following me and liking...
Please go thourgh my two to three posts of ITC on last feb 14,july 2022 and april 2022. It has progrssed impulsively. its journey does not end here. after achieving this target it may pull back but its journey will contuniue. don't forget to connect with me by following me and liking my posts. please go through my recent posts of bank nifty which is well in track
With rbi pausing the rate hike. and with india's inflation dropping with in rbi comfort zone first time after many months. and still some shorts remaining in the system(future&option) it appears still some rally pending for bank nifty. In asia pacific regions several central banks like australia,india etc have paused interest hike. Techincally bank nifty can take...
human brain is greatest analyser. All indicators can't match that. they are lagging indicators. Comprehend first what is happening around. elliot wave is simple based on three important conditions. 2 nd wave should not violate the low of 1 stw wave, 3 rd wave should not be shortest. and 4 th wave should not enter in the territory of 1 st wave. exceptions leading...
Let us see when it breaks the upper trendline. I think the out come of MPC meeting of Rbi will have major role in establishing the direction of bank nifty. How ever any dip should be bought in to. I am quite upbeat about the sustanability of this rally. Look at the stochiastic in over sold condition. And divergencee between price and oscillator. Do connect with me...
Please go through my chart published earlier here in trading view. It is poised to take out recent high. so far it had better chart than nifty and bank nifty. Both are catching up now. Next target of 1691 caan be reached soon. please go through my earlier posts of hdfcbank. Do connect with me by follwing and liking my posts.
Reliance has under gone complex correction after it had a spectacular rise in five wave which was terminated in october 21(2751) after that though this high was crossed in april 2022(2856) and nov 2022(2755) ,in both the occasion the break out could not sustain. in nov 2022 x wave was terminated at the start of wave a as shown in the chart, and now recently y...
This is weekly chart. This time too not willing to go beyond 38.2 retracement ment level as shown in the chart. After june 2022 stochiastic has dipped in to over sold zone. of course now bank nifty is at much higher zone than what it was in june2022. Divergence is seen. bank nifty may strike 23.6 retracement level in coming days. Divergence is not the only...
Was checking the details for its sudden fall of bank nifty. There is much similarity of this hourly chart with its weekly chart, If its correction ends at this point. Nothing strange has occurred in the 2 nd half. if we look at the broder picture and look at its weekly chart. how was my last post of bank nifty. the chart has self explanatory. Looking forward what...
Consecutive two hammers followed by one green candle taking out the highs of two hammers ,no need to say it is trend reversal. Tomorrow likely to be gap up opening at around 40168. Any dip should be bought. 40088 will be strong support in case of gap up .Incase bank nifty opens below 40088 ,it should act as resistance.But it is expected to be conquerred. it...
Hdfc bank has much better chart than bank nifty or nifty. In bank nifty after december 22 there are series of overlapping of waves only pointing to corrective waves till now. it is not sure whether correction has ended or not. But in case of hdfc bank the impulsive rise is clearly visible after june 22. It appears third 3rd of wave has been completed and there...
With bank nifty closing above 38648 and with defenite propotionality of this assumed to be final(z) with the previous one(y),it appears the correction has ended unless we violate 38648. so any long position should have 38648 as stop loss on closing basis. Fomc meeting of US schedule to take place next week. due to the present banking crisis it is mostly likely...
The chart has delivered perfectly from uml of the pitchfork to lml of the pitchfork. 41670 to 39132. 39132 happens to be the around upper boundry of a previously left out gap. Of course I had not published this chart here.. it appears we may get a pull back or already got a pull back which should be 4 the wave of this decline . another wave down is pending. ...