S&P500 index looks ready for a correction from current levels of 4100-4150 , upside rally is overheated and requires a good correction if has to rally again
CNX500 Relative Strength
Attached: Nifty 500/ Nifty 50 Daily Chart as of 21st March 2023
- I am watching this Ratio Chart to turn down after Retesting a Confluence Zone
- Its looking Bearish currently post a Rising Wedge breakdown and Three Black Crows candlestick pattern
- It signals Weakness in the Broad Market relative to the Index.
- This Chart had Topped...
on the hourly chart nifty showed a break above 20 ma and a close above it.
1. this indicates the profit booking by the bears.
2. market may consolidate between the low to 17331 levels. unless a strong break or strong rejection from the moving average is noticed further down move is awaited.
Nifty in this chart share Possibilities look like corrective move
17180 - 17200 correction expected and A move end
start B move Time wise or Price wise
Or
Upmove end We can see good correction break 16800
JUBLFOOD has experienced a correction of more than 50% from its all-time high, which was achieved in November 2021. When a stock experiences a correction of this magnitude, it may represent a buying opportunity for investors who have a long-term investment horizon.
Current price level could represent a good opportunity for accumulation for investors with a...
Hello Traders!
1. We see a 5 -wave impulse down which had been expected a long time coming.
2. Now there is an expected correction upwards from the market.
3. We have clear strong support and resistance .
4. Breaking of the Trend line should confirm our entry. The break of waves 2-4 trendline mostly marks the confirmation of the beginning of the...
after seeing a major correction Cipla is near its weekly support, a long can be initiated keeping a stop loss of 3-4% the targets that can be seen in the short term are of 950 and further targets of 1000, a good risk to reward trade can be initiated but make sure to trade at your own risk.
After a wonderful short covering rally, nifty is likely to consolidate next week with a negative bias.
The trading range would be 17700 and 17400.
17700 stands at 50% Fibonacci retracement of the previous fall and 17400 lies at the support trend line.
Strong closing of 30 min candle above 17750 invalidates this view.
Happy trading guys.
Banknifty price move upside flat correction see some rule
Rule 1: Wave A should be a 3 wave structure.
Rule 2: Wave B should be greater than 61.8%of Wave A.
Rule 3: Wave C is greater than 38.2% of Wave A. ...
Pattern: The type of pattern will show alteration in Wave A and wave B.
in.tradingview.com
Nifty has been performing poorly since the last three months, even if we leave the index constituents aside, the situation is even more dire in midcap and small cap indexes some of which can be attributed to the Adani stocks.
Adani stocks, put pressure on the banking index and banking index constituents especially SBI collapsed due to the...
Candlestick Chart
+ The moving average lines are contracted.
+ Track the price until it crosses either 50ema or 100ema lines.
+ It may test the level of 200ema to end its correction.
+ So, the levels of 1600 to 1626 may be tested to complete the correction.
Renko Chart (Brick Size = 7.5)
+ Fibonacci Retracement
The price can test the level of 1626 which is...
In the Nifty chart, we can see that the Index was rejected multiple times along the trendline drawn and finally managed to give a breakthrough above the trendline.
Now, this resistance trendline is likely to act as a support trendline.
On Elliot wave analysis, the up move is currently at wave five, and we can expect a correction that will re-test the trendline....
Hii
This is my analysis on gold
first i used green monthly trend line if it breaks market will go down . if comes toward the mean of the line or say pullback in uptrend is consider .
and price touches red color resistance zone almost 6 times . if it breaks and retrace is consider as perfect breakout . so wait for breakout .
and i use Hikanashi to show...
It seems to be correcting in a wave iv of 2 lesser degrees . But since the wave iv is very sharp it seems to a just wave A of a very long time consuming triangle in the future . Where will this wave iv end , most probably it should be supported by the base channel . Kindly note this correction should not go beyond 0.618 .
#BANKNIFTY ANALYSIS. We saw big fall on wednesday now market need to do some correction so in my opinion market will be upside tomorrow. If the market break 41768 zone then we can for CE(CALL) First target 41868,41955,42090. If the market break 41590 zone then we can go PE(PUT) First target 41501,41441,41342.
#banknifty analysis. Today market work same as per analysis. in my opinion tomorrow market will break 43080 zone. if the market break 42786 zone then we can go for CE(CALL) First target 42838,42933,43080,43168. If the market break 42645 zone then we can go for PE(PUT) First target 42576,42449,42370,42242.
Namaste!
US Markets substantially affect global market and their indices. There are two main indices which I track most often. DJI (Dow Jones) and SPX (S&P 500).
I expect it to be in a downfall in the coming weeks/months.
I follow a rule of thumb for a reversal (respecting support or resistance) is that it must close below low of the resistance testing candle...
In the chart, one can appreciate the downside of Elliot's correction.
Wave 4 of the Elliot has taken the form of a triangle.
As I mentioned in my previous post about the correction in IT, one can also expect a bearish run in FSL.
Expecting a target of 96 to be reached within this month.
