Divergence are lucrative and effective method to trade, however many people find it difficult to use so I am giving important points one should keep in mind: 1. RSI divergence should be used when formed in overbought or oversold Zone. Others may be used in combination with other studies but NO trade solely based on it. 2. Since we are handling here the situation...
In NOCIL a bearish gartley is formed i feel that it may drop to 73 rs if it break the 73 level then it will go to level of 65 rs.
NSE:NIFTY Safe Trades;
Arvind is giving a potential short setup on daily chart with Wave B up move completing at 61.8% fib levels and Wave C correction starting now going around the targets of 300.
AuroPharama is giving a Potential Short setup for Wave C down for ABC correction. One can short at current levels with stoploss just above 731 and Target around 670.
Rising Wedge on TCS and showing bearish trend on indicators. Trade: Short below - 2262 Target 1 - 2215 Target 2 - 2171 Stop loss - 2326 Reward Points = 91 Risk Points = 64
The breakdown of bearish flag at 18,000 was retest in the last hour of trading.
Rejecting higher price. Similar pattern created. Likely to go down
Nifty moved up for Wave B and is ready to go down for Wave C as Zig Zag Correction in final hour of Expiry.
* Bearish Harmonic would trigger around 8,085 (+/- 10pts) levels * 200DMA @ 8,102 * Overbought Stochastic > The formation negates above 8,135
It is been observed on Weekly chart that the price action forms a bearish pin-bar candlestick pattern indicating rejection of higher price action and seller dominance over price action. Now, it shall further move down to next support levels. Target 1: 800 Target 2: 750 Stoploss: 880
First of all, taking lessons from history, some similar sort of pattern/retracement took place. Here, I have tried to match the fibonacci pattern that was evolved in 2008 with present pattern. In 2008, reversal was shown right at 0.6%. So, in present pattern 0.6% shows 8186. This 0.6% retracement level is very much important for future course of action. This level...
SUN TV has reached its consolidation level, now its time for reversal. Historical Moving Average breakdown supports our view. SHORT @ CURRENT LEVEL TARGET 1 @ 480 TARGET 2 @ 450 TARGET 3 @ 425 SL @ 565
We had a 340 point fall now we had retraced around 0.382 so Max possibility upto 8608-8666-Bull. downward channel now becoming more steeper!!
It is been observed that the price action on hourly chart breaks out from the consolidation and now closes below 838 levels of support, indicating further downside move. It has also retraced back to the breakout levels to confirm previous support as resistance, indicating further selling pressure in the price action. Target: 825 Stoploss: 850
Colpal is looking is bearish and might go down further.. Targets for the downside is around 900 levels. Happy Trading!!