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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
ALBK - Head & Shoulder -2nd Innings starts soon above 72.50 -881st Innings Head & shoulder breakout + confirmed by double top@73.50 gave the push upside & turned from 77 highs which was shy of 1-2 points from 79-80 -closing last trading day at 71.50 levels. Price has pulled back to the neckline which can give another opportunity to bulls & this time if it surpasses 79-80 zone then it attempts 88-90 zone next. Once it starts moving in your favour, you should keep trailing with profit stops. Trading Plan Likely ALBK can hold into Right Shoulder zone 69-70 or moving above 72.50 - we need to keep a watch as it could be early signal for 78 - 80 zone & above 80 for 88-90 zone. Head & Shoulder -1st Innings above 73.50 Long Term Analysis turning above 65 - Lawyer back in the courtroom
ALong
by WaveTalks
21
Nifty : Expecting Range before RBI Day...Tomorrow being RBI day its usual for Nifty to give only scalping trade chances. We slightly have a different view from yesterdays but still in-line with what we are expecting with Nifty.On lower timeframe's scalping chances will arise whether its move till 10110 or on bearish reversal with formation of double-top. Be conservative on the formation of double-top bcos it can either give a wick to upside hitting out stops or if there is formation of new high double top is failure. So, thats why this particular Double-top should be traded with care & RSI showing bit of divergence too ( not formed yet ) , check after the completion of double top whether you still have that divergence. But anyway, for next 2 days Nifty will be range only ( just expecting ) bcos of RBI day & rate cut hopes. And if these rate cuts happen, it further fuels the bulls, New highs in Nifty in coming days. Do remember these are not single day move, its overall Market Direction...
NSE:NIFTY
by InsiderB
8
ALBK -Magical Words-Sim Sim Door opened@66 for 80+ & H&S PatternWe continue with ALBK (Allahabad Bank) as suggested in the previous post that we can plan to buy ALBK if it comes close to 65-66 Zone- Traders should look to buy if it remains above 65 which was our stops downside I have updated previous post twice when it was close to 65-67 Zone - Please say - "khul ja sim sim" the magical door opened & obliged us by holding above 65 -an important level. How this magical word was connected with Technical Analysis. Double Bottom Trendlines Bullish Candlestick pattern Head & Shoulder Double Top next at 73.50 levels - these are magical words - Sim Sim for an analyst in the world of Technical Analysis. Now, let the journey continue above double top@73.50 with post breakout above Head & Shoulder Pattern. Target Measurement Measure the distance from head bottom to the neckline - keep the same distance (in our case it is vertical red trendline) above the neckline so we get target as 79-80 Next. Trading Psychology / Investment Psychology Set of few questions as mentioned below by Dr. Van K.Tharp, which can help in becoming a better trader are "(1) To recognize trading opportunities, (2) To organize your investment information and manage risk, (3)To wait for the right opportunity, (4)To avoid failure thinking, (5)To prevent your personal life from interfering with your investments, and (6)To be responsible for your investment. In addition, the test measures (7)The extent to which you invest to make money compared with other investors and (8)The extent you have defense mechanisms that prevent you from becoming successful. Finally, you can compute an overall percentile ranking which allows you to compare yourself to other investors in terms of your overall investment psychology skills." Clearly, this is valuable information. In fact, simply filling out the form can provide real insight, This can be of real value or insight if Dr. Tharp delivers the analysis for above set of questions - Does he? For this you can refer - Book -Invest Psychology Inventory by Van K. Tharp or You can read the book - " Trading Beyond the Matrix" by Van K. Tharp. Previous Update - Lawyer back in courtroom
ALong
by WaveTalks
6
CholaFin : Can we get some Money ?This is one of those charts loaded with most of things we use. Just take a look above on Cholafin chart, You can see *Double Top on Hourly & 4 Hour + *Potential Harmonic Pattern + *Strong 4 Hour Resistance zone + * Triangle Pattern ( probably yet to complete fully) with expected breakout to downside as we have resistance above. i ) I feel price will get back into triangle for time being then downside but anyway marked both moves on chart. ii) Only aggressive traders can take this breakout which happened now, others lets wait for the triangle to complete or Retest of triangle lower trendline then down !!!) Aim for 1090's-95's as Target zone iv) On valid trade setups, you can trade internal swings of triangle for Intraday So All this will make it winning trade ??? I repeat, it increases our confidence & gives out probable Direction, No assurance to be winner. All the Best !
NSE:CHOLAFIN
by InsiderB
6
LT : 5th time Retest of 1800's zone !In Past 3 years from 2014, LT has tested this 1800's zone 4 times & went down everytime. Now it is back again testing the same zone, though we have wiggling room of 150 points in the upside, the resistance zone seems pretty strong. History repeats but for 5th time it will retrace after hitting the resistance zone or not ? Only LT can answer, but we have reasons to believe it will retrace down. i) Pretty Strong resistance zone & Harmonic pattern completion in the zone ii) Potential Double Top formation (daily) with RSI divergence can happen, if you check back it has happened earlier in same resistance zone 3) Though Double top formation fails, ABCD completion is little above that but still within zone Personally, I feel it will get into range mode of 400 points but I haven't checked fundamentals so I can be wrong. If you have strong fundamental reasons to believe that it will move up breaking 1900's , you can acquire very small quantity now & Go with accumulation & once that 1900's resistance crossed convincingly on weekly, you can fully invest. Happy Investing !
NSE:LT
by InsiderB
5
Nifty : Mix n Match Combo'sThere is an ABCD, there is a triangle formation in development, one potential Double top which is evolving within triangle.. yea... We have various pattern styles in single chart of Nifty. Versatility in one word. We have good triangle formation, most of you might have found earlier itself & we are expecting a false breakout on the upper trendline with Double top to move down later in the day or 2mrw. WHY ?! Whenever there is less volatility, big funds gets active bcos that's the time they can do stop hunting bcos for positionals stops will be widers, you can't move market till those zones. but in less volatile days, stop loss orders will be crowded in specific zones & bcos of scalping trades it will be within few points reach, so just a single wick takes out the stops on less volatile days. If I'm not wrong, I think I didn't post that ABCD to community, anyway even if its after move, will be helpful for your learning how it worked , time n again proved. Nifty made a move while I'm writing the description, not a prob , posting as it is, if you are scalping just take care where your stop orders are placed. Happy Trading !
NSE:NIFTY
by InsiderB
12
Nifty : Billion's Billionaire Dreams...Nope... Don't say so, infact dont say you haven;t expected that upside move. Why ?? Kindly check our Nifty Post on last Monday (22-May-17) titled 50 lakh crore. Nifty decided to do us favor by following our expectations & that's why our analysis are right. If there is No favor by Nifty, we won't be getting this much success rate for sure. So whats in for the Day ? Scene 1 : The Double top & Cypher, if yesterday's bull's are tired, Nifty will drop down a bit, purely for Intra lovers you can make some points here Scene 2 : A new high being made, but right next after expiry day ? Market will be that active ? Well, I'm not sure... For Positional traders, as per Monday;s post on wave 4 end, long should have been initiated. So how many of you going for Sachin's : Billion Dreams ?? I'm planning for that...Till then take care..Happy Weekend Signing off, InsiderB
NSE:NIFTYShort
by InsiderB
4
Nifty : 50 Lakh Crore, What's Your Share ?!Good Morning, Cutting straight to analysis : The threat of 9360's zone retest is not eliminated though, we have certain reasons to believe that there may be potential double top formation near our recent highs zone above 9500's. So one can look for entry setups both on 1 hr and below that for trading purpose as per their plan. Depending on what happens around new highs in Nifty, we may or may not have failed Double Top. If that's failed double top 9700's coming soon... Else ranging for another week within 9200's to 9500's zone but let's watch what happens... By the way how much you made in these 3 years ? Bcos a recent article states that whooping 50 Lakh Crore growth in stock markets rally, How Good that feels if you made 0.0000001% out of that ?! Article here : economictimes.indiatimes.com Happy Trading Week Guys, Have a Profitable week :)
NSE:NIFTYLong
by InsiderB
2
Nifty Weekly Outlook - BearishHello Traders, We hope everyone had a profitable week. Here is our view on Nifty weekly chart. In last two weeks, Nifty re-tested the strong resistance levels but failed to close above it which indicates the another rejection. Additionally, Nifty has also formed double top pattern which also indicates the price reversal. Moreover, RSI indicator is also showing negative divergence. Considering all these aspects, we feel that in coming weeks, we may see weakness and bearishness in Nifty. Thanks you. Have a great weekend. Happy Trading!!!
NSE:NIFTYShort
by safri
4