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...
Security is trading between 116 and 120. Upper limit is 122. Bulls will be active above 122 if sustained for 15 mins.
Bias - Bullish ⏫
Note - Please wait till the levels are active. View negated if stock is below 116 on closing basis. This is an educational idea which would be updated on further price action observations. In no ways it is a buy/sell recommendation.
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.
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...
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...