Avoid long position or swing position
Try to short (downtrend & correction not yet done in the weekly chart)
1.Global crisis
2.Market sentiments
3.Data analysis
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M & M seems to be entered in second Elliott wave with Targets 865 - 935 - 1054 in short term.
Risk : Since Covid 19 cases continuously increasing and many states started imposing LOCKDOWNS.. It might turn into negative trend if it breaks support of 740. Next Support : 570-530
Note: This analysis is only for educational purpose.
TREND ANALYSIS & TRADE SETUP !
ELLIOTT WAVE ANALYSIS !!
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for ENTRY CONFIRMATION !
Reward is 8-10 times .
NSE:GRANULES working inside a corrective pattern and seems to have more downside left.
Well, Path 1 in the chart drawn is highly probable if buying demand at the level is very high but we can not undermine Path 2 which might be alternate path but less probable.
Which one would you choose?
PATH 1
or
PATH 2
➡ Nifty took support from the demand zone
➡ "Bullish Harami" has formed above the support
➡ Right now Nifty at a correction phase
➡ Nifty needs to break the channel to go up
➡ Due to Covid situation Nifty showing some weakness
➡ Hence, Nifty may fall
⚪ NIfty needs to close above 14938 to go up further
⚪ 14281 is a strong support
⚪ If it closes below 14281 next...
Even though there is heavy liquidity in the market and that has been driving the markets significantly higher over the last year. Nifty has rallied over 100% since the low of March 2020. A lot of investors have made way more than average returns on their investment in this dream run. Those investors would like to retrieve their amazing returns to make use of the...
NSE:HDFC is in the correction phase to which rejection levels or support levels are mentioned in the Chart.
The Line of Invalidation might hold the fall but if not it still has the potential of a bounce being in the last impulse wave that started last year.
analysing historical data, major corrections have taken place when nifty meet those lines. according to me, we can expect a correction on nifty in July ,august
As shown on the chart, the double top pattern has occurred 3 times in the recent few months. Each time, the market has corrected significantly.
The entire second week of February, Nifty has been moving in a tight 200 point range, with buying coming at 15000 levels and strong selling at 15,250 levels. With the current levels of volatility and narrow contracting...
Hello fellow traders, we can see that ICICIRULI has formed a bull flag pattern and now taking support at major weekly support zone we can see a big move in coming days after the breakout. right it's consolidating on lower time frame and volume is decreasing which is a sign of big movement in coming days.
let me know your views on this analysis ?
How do you determine the end of the Throw-over(under)?
The price is upper trendline & recent volume is declining which is an indication that the End of The wave will meet .
But this chart has not volume data cause of spot nifty. You can check out volume changing into future nifty.
Let's try to look closely sub-wave of Primary Rounded donated 1 W.
The parallel...
200 was the key level identified. Hope you all enjoyed the wave. Above channel it becomes more bullish or take care if channel halts or stops the move.
Last Idea on ITC
Markets have been in a correction mode for 4 consecutive days and the probability of further downside is very high. This is a good strategy to use when the market is trending in either direction.
Use small sizes in volatile markets to avoid losses.
