gold montly reading setup, please review..
Here are my lines for #Nifty quick/scalping whatever one calls it.
Nifty is making a Cup & Handle in lower time frame, a breakout level coincides with the Bearish AB=CD between 9600-9650 which I had already suggested as a possible level in my previous tweets, view would go wrong below 9100. At the same time NIFTY IT in hourly is on the verge of an IHS breakout which suggest 13500 as a probable level. Both suggested levels could...
Will only get week if it Closes below 16th April Low. Strong above 15th April High. if weak it can get to about 170. *This is only for educational purpose. i do not suggest this to anyone.
1. Ascending triangle pattern formation an hour chart. This state Reliance want to Long. 2. But on the formation of Cypher Pattern on the chart. X Point at Recovery Price of 880 , retrace to B Point , C Point to 1229 (Current Price) 3. Formation of XB=0.38 and AC=1.401. 4. Assuming XD form at 0.786 lead to the Formation of BC=1.407. 5. All above level...
1) WICK OF CANDLE AT B CROSSES .618 RETRACEMENT OF XA BUT BODY DOES NOT CLOSE ABOVE THAT. 2) WICK OF CANDLE AT C CROSSES .382 RETRACEMEENT OF XA AND BODY IS AT .382 LEVEL. 3)CANDLE AT D HAS CROSSED .786 OF XA. BUT BODY HAS NOT CROSSED .886 4) PULL BACK FROM THIS LEVEL CAN BE EXPECTED. 5)POSSIBLE TARGET MAY BE .382,.5, AND .618 RETRACEMENT FROM C TO D. STOP LOSS...
Last week's short term intraday strong demand zone was @ 8650-8850. Now it is shifted to 8850-9100. On the upper side 9360-9500 is a supply zone and 9675-9820 is a major supply zone on a short term time frame. According to the option OI data max call writes are @ 9500 and max ut writers @ 9000. According to the data and supply and demand zone 8850-9100...
jsw steel y views is to trade on levels ( positional bias short on rise , but intraday and as per market trend one can play swngs . simple demonstration of how basic support resistance are helpful through ed arrow (resistance) while blue arrow (support) hope one will find it useful and take benefits ( dua me yaad rakhna) .