We can see the stock price starting to fall after the completion of the 5th Elliot wave. The downside target is 8250. The correction wave may take the ABC pattern.
Elliot trades. The impulse waves had started from April 2021, had reached almost the end of wave 5. I would wait to invest at this time. 140 to 150 should be a good price to invest in ONGC. Wave 5 again follows the Elliot 5 wave pattern. I'm expecting the share price to correct to at least 160 this February.
A correction phase has begun. RSI falling. If it breaches 762 level, can give a good buying opportunity around 709-715 levels. A downward megaphone pattern, if continued, can be the cause of a steep fall.
Nifty Targets for short CMP 18250 17900- 17650- 17400- 17200- 17000- 16800- 16500- 16200- 15900- 15600-15250- 14800+ time duration 8-12 months sl above 18600 above 18600 candle closing basis
Don't you think the stock price had rallied too much? Expecting at least 800 points fall in this script.
The top is getting heavy for both nifty and bank nifty. US inflation data, Indian inflation data, TCS, Infosys, Wipro results. Too hot to handle. Vix above 17. Technically 5th wave of Elliot getting completed. Can short nifty with a stop loss of 18400. (Risk reward 1: 3.5) Targets mentioned are for the next few weeks. Profit booking in IT and banking stocks...
Usdjpy is currently breaking out of rising wedge with in an ascending channel wach out break and further pullback to capialize on move to downside
In this December month, we were blessed with five expiry dates. I would say that the last three expiry dates are like a roller coaster ride, highly volatile. We are entering our 4th week now, and it is a technically correction mode. Technically, a 10% drop from the recent high is referred to as a correction. Look at Nifty50 on Monday. It opened with a huge gap...
One thing to keep in mind is the difference between a crash and a correction. After a correction, the price always rises. It's important not to confuse every correction with a crash. It all about making money out of it. STOCK MARKET DROP DOWN-5% PULL BACK DOWN-10% CORRECTION DOWN-20% BEAR MAKET DOWN-50% CRASH
I wouldn't be surprised if it corrects more 1000 points from hereon! Though the correction will create many buying opportunities.
As you can see in the chart, there is a strong resistance at the level of 572, . Stock has given the breakout two day back after the BREAKOUT stock took some correction. . So if Monday stock goes above 582, we can buy this trade Target will be 590-595. . I tried to mention each & everything on chart, still you have any quary you can comment in the comment...
It is observed over the historical data of nifty, if it makes a new high and corrects by 20% it reverses towards a breakout with previous 52 week high and creating a new high in over 12-18 Months. The rally is already at its peak of 18 Months. What are your views on this theory. Do you think the rally would continue or the correction would pull the markets further down?
Market right now is in correction mode because of negative news hwoever for longer time horizion market is set to perform bullishly
TRADE BASED: Hr tf it was a up trend. during the trend continuation. HR sideways forms a sideways market. During Hr sideways market, market form a 15 min resisting trend line. if market break the 15Min trend line then we can expect a hr resistance
Trade based: Hr tf swing formation and swing correction in lower tf 15 Min, forms like a double bottom, when it break then we can expect a trend continuation.
After a long rally and a series of higher highs & higher lows we are seeing Head & Shoulder pattern at the top of chart in CRUDE suggesting some correction in prices. MACD has also shown divergence, untill the price stays below neckline of the pattern we can see more decline in prices of Crude till 5900 to 5700. Break of the neckline and right shoulder will...
CNXIT index crashed hard in past days Uptrend now begins in IT sector and so does in Tech Mahindra Tech Mahindra corrected 11.5% from ATH, consolidated for few days and now began a new uptrend from a strong support level. Enter at CMP with target levels @1475 (Added Tech M @1380 on 30th sept but forgot to publish idea then. Better late than never. 1475 levels...
Nifty View: A decently volatile day for the benchmark Nifty50 index as it closed down a little over 60 points in today's session. So far, we have three consecutive negative days from the index, losing almost 3% on a high to low basis. The short-term trend is still up, but vulnerable as the index nears the psychological level of 18,000. However it was clearly the...