Convergence
PNB, Intraday View for 18-JuneDuring the convergence of bands the price has given the break of structure on the upper side. For tomorrow the intraday range on the upper side is 130 to 136 and on the down side is 126 to 122.
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
Fibo levels - BTC - 84800Considering the convergence level & wave count, have drawn few important support & resistance levels.
At current price structure, the prices could extend upto 84700 -84800 levels, this level has more convergence or going to be the area of confluence.
& price movement also stiff & it has expended more than 1.5X of 200 EMA.
T1: 79450
T2: 84800
T3: 90800
RSI Convergance spotted in TCS Daily timeframe.As the title suggests, in daily timeframe of TCS there is a RSI convergence.
From 1st L H point TCS is falling but RSI is not making lower lows, rather RSI is making higher lows since June 25th.
And also 3000 price level is a support zone (Look at weekly chart).
Probably this stock is preparing for a short term up move, good swing opportunity.
First target would be 3200
and second target would be 3400.
Trailing SL is a must.
Nifty 50 Index analysisHello friends here you can get the fully ways in upcoming waves in the charts to get fully ways of length where thay will go and moves.
The points ABCD shows the #triangular #pattern
and
The points 12345 will shows the values in the length of #Elliot #waves to get full its full #strength
and
The points #ABC will show you the values get to complete the #correction #waves.
The Confluence TradeI can see lot of convergence at 503 to 512 zone. That's a big zone but I can't help it b'coz ATR is high. Also observed bullish gartley and ABCD harmonic pattern in a highly oversold zone. So there are high chances of reversal from this zone. I ll hunt for 538, 558 and 568. Initial stops is quite wide, but it could be set below the buying signal which will be assumed as the established swing low.
Kindly apply your own due diligence before trading ideas from TV.
Trade safe and Do hit the like button.
Regards
Bravo