HighLight tail with Yellow color at value low.
-> Tail detect each time when price taken U-turn.
Wave counting 5 are completed.
Gravitating price is at 11340 as a target.
(suppose to close above 11357, then the next target will be 11468 (more than 90% probabilities).
We may face Resistance at control price 11340 nearby, for target 11189.
95% chance to win if...
For each U-term, this stock is created TAIL.
Look at the box, I have drawn TAIL so you can easily check it. Suppose, wave(2) has Turn then it will create a tail on hrs chart.
Resistance 423 nearby.
Predicted waves if everything fine.
If you try to look carefully, you will know that.
1. Flag patterns
2. Overlapping and Result of it
Thought we are going to focus today only a few points, the Red Flag pattern is predicted and there is not overlapping still. From both these, concluded that we are going to see a big fall soon. I am till not confirm.
Price moves because of the war between the bulls & bears. Direction is decided by who takes the control. Generally whenever price is nearing support or resistance, the intensity of the war between bulls and bears increase. Therefore price consolidates. I have marked it in yellow rectangle box and that area is known as "price rotation". Still the bear trend have...
4 tails at the value high with one excess and 2 tails found at the value low with one excess. The presently fromed tail is not at excess but its a breakdown channel.
Remarkable points, recently created tail has enough shadow as comparted all others.
Therefore, Possible to fall more OR create a series of tails.
There're 4 tails at the value high and, 2 tails are detected at value low for a major channel.
When the price is higher above the value high, We found the tail as price reject and reversal.
For instance, you can observe the trend is up before the tail(1) created. U-Turn has been seen after the tail formed. The same thing happened for the tail (1) to (4) in...
TAIL, This is a reversal of prior trend pattern that shows up as one candle reaching out well beyond normal price action. Sometimes referred to as a Hammer which is used to spot signs of a reversal indication.
For Example, 1 Tail at a value low and Psychologically, this can signal exhaustion in the selling mentality and a developing appetite for long exposure...
GLENMARK has reached major support zone & Buying may come in So keep watch & look for opportunities
if you have any queries regarding above idea or any other stock feel free to D'M
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Gulf Oil Lubricants - Daily - Trendline - Support - Resistance
1. Out of long term trendline. Seems to be in downtrend.
2. Moving average crossover (Death cross ==> 200 EMA vs 150 EMA).
3. 689 seems to be a good support for short term.
As per the levels in the chart:-
If Nifty will not sustain above 11750 then it may test 11670.
If Nifty will sustain above 11750 then it may test 11800.
The fresh up move may start if it will sustain above 11800 in this scenario it may test 11870 but if Nifty will not able to sustain above 11800 then supply presure may push NF to 11750 and 11700 levels.
A previous-Resistance & trendline R. still existed at 11783.
I did not cover here penetration because I teach about it earlier.
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WHAT IS "PRICE ROTATION" and all about it?
Price Rotation is...
Nifty was taking support @ 11850 which is 18th April high and also its a 20 DMA level.
Yesterday Nifty was not able to sustain above this level and closed below 11850. I think It's a first bearish sign.
If Nifty will not sustain above 11850-11870 then another lower range will open which is 11850 to 11750 (11750 is August 2018 High). If you see the intraday...
Today Bank Nifty Closed above it's 20 DMA.
Tomorrow If Bank Nifty will able to sustain above 31050-31000 then we can see a strong bounce back to 31400-31500 but another side if Bank Nifty will sustain below 30900 and will give closing below this level then the view will be negative and in the short term it may break 30600 support.
As I shared in my daily Nifty Outlook post I have mentioned that 11830-50-70 is a perfect level for buying. In the sideways market, should not take a very short term view, wait for a lower level to come and show courage to buy from the lower level.
Today Nifty bounced from it's 20 DMA @ 11820. 11760 To 11850 is a major supports for Nifty on daily chat and Nifty is...
There are two Zones in Bank Nifty: 1: 30600 to 31250
2: 31250 to 31750
If Bank Nifty will sustain above 31050 then it may test 31200-31300.
31200 to 31300 is a no-trade zone because maybe profit booking may come @ this level. But if it will manage to sustain above 31250 to 31300 then it may test...