I have given 2 examples of correct and incorrect wave count. You may lose opportunities due to incorrect wave count.
After momentum divergence and 2-4 trend line breach bank nifty trend has been side ways to downside. so far it looks like bank nifty is making double correction WXY, of which wave W and X is done and Wave y sub-wave A is done and Wave y sub wave B is going on,which should be used to exit long's previously hold. Now where this wave B will end cannot be...
ONGC weekly chart is exhibiting confluence of three different trendlines: 1. An upward sloping trendline from Nov'20 2. A downward sloping trendline from Jan'18 3. The horizontal trendline at 120 price range The price is is a super interesting place and we will be watching where the it will go from here, ready to bring out our ammo, whether it breaks up or down.
Negative divergence on RSI for wave 3 and wave 5 was indicating weakness which is confirmed when wave 2 & 4 trend line got broken in less time than wave 5 took to form.However wave 4 low's has not been taken taken out in less time than wave 5 took to form indicating current fall is correction and not major trend reversal. Question is what form will this...
Just for educational purpose and to check public / market experts views.
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An Anchored VWAP (Anchored - Volume weighted Average Price) lets you make up an idea on whether the control of the market is on side of bulls or bears. Like the traditional VWAP, it incorporates price and volume in a weighted average and can be used to identify areas of support and resistance on the chart. Just like in intraday setup, a traditional VWAP lets you...
L&T cmp 1476 sl 1447 target 1561 this is for educational purpose please do your own research before entering
Reason 1: It is taking support at long time trendline Reason 2: we could evident a channel pattern which look so strong from the past month. Reason 3: CONFLUENCE The support line of channel pattern is meeting with long term trendline as you can see in chart. Reason 4: Emerging of morning star candlesticks right away at the confluence. Reason 5: we could also...
My views on Nifty & a trading plan on Nifty decoded for the upcoming trading session.
FCL is ready for channel breakout. It is in consolidation. Once it break the channel it will reach the target of 120 in near term.Time to accumulate at the current level.
NIFTY IS CONTINUOUSLY TRADING IN RANGE TILL NOW TODAY IT BRAKOUT RISING CHANNEL AND MAKE ANOTHER SWING LOW
NIFTY IS CONTINUOUSLY TRADING IN RANGE TILL NOW BUT TODAY IT BREAK RISING CHANNEL AND AFTER RETEST AGAIN SEEN DOWNFALL
Nifty is seen in range for intraday level.today Nifty breakout rising channel and make another Swing low