Aditya Birla CapitalLong ABC for the target of 124 with the SL of 104.
A break and retest strategy happens, a bullish breakout and then retests the previous resistance or support and then continues moving in the uptrend.
ABC
AB capital bullish above 116 | 6 month old Trnd Line breachedAditya Birla Capital was forming descending Trendline from last 6-7 months. Now this Trendline has been breached by ABC and it is about to made new high from here. Volume ia also good at this level. you can enter now or wait for a minor Retest. You can hold this share for positional purpose or Long term investment. This is a fundamentally strong company.
ESCORTS - Buy IdeaEscorts seems to be turning from the support as well as it has completed its ABC correction which completed exactly at 1.618 of Wave A.
So, idea is buy above 1200 from where it has been rejected recently with stoploss of 1100
Can achieve fresh ATH
Triangle breakoutIts bullish triangle breakout.
SL shall be below triangle level.
MACD also looks bullish.
little bit risky trade.
PVR ABC PatternPVR sell bellow 1224 NSE:PVR
ABC wave pattern and divergence triangle
SL- 1346
target 1- 1300
target 2 - 1280
Hexaware ready for Wave C correction - Short SetupHexaware is set to decline again to complete the Zigzag correction on the longer timeframe. Wave A and Wave B have already unfolded and targets for Wave C should be equal to Wave A which comes just below 200. 61.8% Fib comes around 220 levels. One can take short positions with stoploss above 380 for the targets of 220 and 190. Its a long term trade so it will take time to unfold.
EUR/USD Technical analysisThe EUR/USD pair has formed a wolfe wave. Now it has crossed the 5th wave. It has been also In the Elliot full wave correction So we expect a bullish movement up to the value @1.18500 which is also a good resistance zone.
Buy the pair once it crosses the trend line
DXY Technical analysisThe daily chart of the dollar index has formed a Full Elliot Wave.
It is due for a correctio n in the form of ABC Wave.
Also there is a possible double top pattern forming in the counter.
The pair has also formed a evening sta r pattern in the candlestick.
So as per the above analysis,we can expect a strong a downside in the Dollar index.
KOTAKBANK- ABC PATTERN
Kotakbank formed ABC pattern and now breakdown down side range so C line target is 900 as there resistance level at 973
SILVER$ - Potential Reversal AreaSilver is possibly undergoing a fast three-wave correction that has retraced 50% of the previous cycle advance
$17.40-17.50 is potentially a strong support cluster and warrants a look for Long trades
USDCAD Buy Setup!!USDCAD is giving an ABC correction and I would expect it to rise towards 1.3400 level as Wave C of the correction. Details are on the chart.
ACC Short Setup!!ACC is giving a Short Setup.. After a large rally ACC gave a 5 wave decline correction from 1740 to around 1590 Levers after which it has moved back up again in what looks like a 3 wave corrective pattern indicating that it will go down again for a Wave C or Wave 3 correction down. One can short the stock at current price levels with stoploss just above 1740 and Targets around 1560 / 1500.
Happy Trading!!
Siraj Hudda, CFTe
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