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Butterfly

Nifty - Bearish Butterfly & Double Top@10500There is a bearish butterfly & double top@10500. Trading Strategies Strategy 1 - If Nifty Holds in 10400 -10425 then expect a bounce to 10460-10485 & we book profits & wait outside Strategy 2 - If Nifty gets resistance between 10475-10500 after strategy 1 is done then look to sell on tops with minimum stops above 10500 - Target -10425 - 10390 - Below 10370 - 10135- 10000 Strategy 3 - Moving above bearish butterfly & double top ( crossing above 10500 ) - "D" level (Holding above D-level & crossing 10500) - Extreme Bullish Scenario - Take care once it crosses above 10500 -it should not dip below 10490 else be cautious. Strategy 4 - Going below 10370 - Sell for target 10135 - 10000 or closer levels
NSE:NIFTY
by WaveTalks
26
Nifty: Potential For The Rising ButterflyIts been a while since I wrote on the Index. In my last post I marked 10094-10013 as the key area. Market tested that key area and bounced sharply. Although the Bat pattern could not complete as per expectations, market reacted near 1:1 level (10013) shown in the above post and the cautious approach on bearish side worked quite well in protecting us. Current Scenario: Suppose the current move takes the market above 10330 level or above the red downtrend line. I that case, I would expect the market to retest previous highs (10490). If that happens, I would look for a Bearish butterfly pattern which completes near those highs @ 10510. So I would look for a double top scenario in this case ( Caution: the failed butterfly pattern may quickly take us to 10620-10650). As the 25 days cycle (+/- few days) is approaching (see following post) I am excited to see the reaction near 20th December. Therefore, If market make a double top near that date I will be careful b'coz a sharp move might follow. Bearish Scenario: Although we are in a bull market we might consolidate a bit more. What if market could not breach 10330 but breaks 10141 on the downside, I would expect 9950 level (right at the red uptrend line) and then look for a bounce. Trade safe, stay healthy. Do hit the like button. Regards Bravetotrade
NSE:NIFTY
by Bravetotrade
6
THE BUTTERFLY PATTERNFor a brief overview about harmonic pattern fundamentals, first go to the Post 1 of this series (link will be soon in the update section). THE BUTTERFLY PATTERN The pattern is recognized by the exclusive 78.6% of XA retracement at point B; and the 1.27 XA projection at point D. X-A: A strong leg which ends at an important Support/Resistance level. A-B: Should retrace precisely 78.6% of X-A. B-C: Should retrace between 38.2 to 88.6 % of A-B. This leg should not extend beyond point A. C-D: The most important leg to confirm the butterfly pattern . C-D should extend 127% of X-A and not more than that. C-D=A-B or C-D=1.27 A-B : Another important confirmation, C-D leg should complete between 1 to 1.27 times A-B B-C Projection: Point D should be at 1.618 to 2.24 B-C projection. Pattern completes at point D so it is the most important point in the pattern. If all the above conditions are valid, a reversal is expected from this point. # In Bullish harmonic patterns an upward reversal is expected at point D, whereas in Bearish patterns a downward reversal is expected at point D. # Normally a buy/sell order is placed at point D, expecting some sort of reversal, and targets are placed at 38.2% and 61.8% of A-X. # A complete reversal should not be expected at point D in any harmonic pattern . Only the further price can provide confirmations about trend reversal. Trade safe, be healthy Hit like/comment if this information is useful. May all of us be victorious over the evil inside us -- Enjoy Dasehra Regards Bravetotrade
NSE:NIFTYEducation
by Bravetotrade
2
KTKBANK: Take Swing AdvantageBearish BUTTERFLY in Progress. Both Lead & Laggard Indicators & some oscillators shows bullishness. Go LONG: Last closing Price +/- 0.5% Best LONG: @ 150.20 - @ 148 TARGET: @152.3, @ 153.15, @ 154.15 - @ 155 (HZ), @ 157.15 SL: @ 145.90- (By Closing) Trailing Stop Loss: @ 143.30- SOME IMPORTANT LEVELS FOR FUTURE TRADE: RESISTANCE: @152.65, @ 153.35, @ 154.5 - @ 155.3 (HZ), @ 157.5+ SUPPORT: @ 150.35, @ 149.6, @ 148.5 - @ 147.7 (BZ), @ 145.5- More Updates on Market hours. (if necessary) Don't forget to Click / Tap LIKE button, as Like is Barometer of Usefulness . Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor. Have not follow time-line all the time, Sorry in Advance if view conflicts.
NSE:KTKBANKLong
by DSKF16
NIFTY: Tag of WAR - Time for Bull / BearCandle Pattern Confusing. Indicator / Oscillators favouring Bulls. Rest Plotted on Chart. for Intraday / Swing levels watch Post: "NIFTY: What's NEXT ? Spot & FUT important Level for 28th Aug '17" Snapshot of above mentioned POST: * More Updates on Market Hours, as Scenario Change. Don't forget to Click / Tap LIKE button, as Like is Barometer of Usefulness. Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
NSE:NIFTY
by DSKF16
1
BhartiAirtel - If Butterfly Turns Into Cipher@427-(Enjoyed-420)If Butterfly turns into cipher- spelling mistake. Time to open your dictionary & add a new word in your vocab list. Who cares about the spelling mistake & who cares about the doosra (cricket term) till the time they give you results. There is a bearish cypher in the range 425-427 zone & will it confuse to make you clean-bowled like doosra - well I don't know till the time I face a doosra in the field. Yes, If you visualize the danger in time, it can be a blessing in disguise. Previous Update -Happy with the weekend limited butterfly stock - 412 to 425. Be careful next. Earlier Update -What a E Wave 402 to 430
NSE:BHARTIARTLShort
by WaveTalks
3
Sunpharma -Bingo! "Z-Wave Fall from 700 to 432" - Butterfly HelpCan Butterfly Support ? It could be too early to suggest whether Z-wave is completed or takes another complex form itself but yes butterfly can help to give some relief next few days Long Term Analysis We need move above X-factor@732 - Double Top which will suggest that correction is done & out & we will be looking for all greens in pharma sector. Previous Update - Z Wave Fall in place@432 from 700 Levels.
NSE:SUNPHARMALong
by WaveTalks
14