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Double Top

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
Winter is Coming & Bears are here to Stay ! Acrophobia - Fear of Heights and a fall from the highest level can be dreadful. That's what we are looking in BankNifty, though Nifty & Gold has fallen a bit, here we are still at 20k's at the top almost forming a Double top. Whether this Double top will fail or work - we are unsure about that. This post is insync with our recent post about Nifty & Gold, remember they also show bearish signs. This 5-wave will get truncated, thats why the double top signal is slowly forming on weekly chart ? If that happens we can see 6000 points move to the south, hugging & roaring with bears. This isn't exact trade setup, its our analysis based on the technical tools we have & how the global outlook is. Has anyone checked on US Bank Index, its up almost 20% in last 3 months, Yeah you read it right 3 months. When was the last time US bank index where at current levels - 2008 , before the recession time & big fall. With Trump victory all are suggesting its good for US Banks & Pharma, but when you have 20% rise without any correction isn't something real fishy ? I can explain why the rise & what's fishy but it will take more lengthier post, so lets keep it crisp. Trump is good for US corporates only & its nativism, not good for US or world economy. We can't comment on his nativism but his economic/tax policies aren't good. So, the US economy & Markets also waiting for the fall. In 2015, BankNifty fell down 7000 points & in 2016 we rose up 7000 points, A whooping 14000 points movement. With this double top, another 7k points down ? Crazy thought..but we will love that if history repeats itself. In DJIA also bearish harmonic pattern ( courtesy : Nirav ), So where-ever we look we see bearish signs - Nifty, BankNifty, Gold, US Bank Index & DJIA... We don't know whether these will go as planned or not,but All I can see - " Winter is Coming & Bears are here to Stay ! " If you find any other Bearish signs feel free to post it below in comments...charts also welcome, Lets Discuss...! " Winter is Coming & Bears are here to Stay ! " InsiderB
NSE:BANKNIFTYShort
by InsiderB
24
Nifty : DoubleTop or Trendline Retest ?Hi Guys, Just two simple scenario's in Nifty, so the details in the chart repeats : I see two scenario's or potential formation for long/short trade setups. (i) If Market opens Gap Down, Nifty can find support in the zone below 8800's n bounce back (ii) If Market moves up & gives bearish reversal around 8880's we can enter short (iii) Breaking any of the support/Resistance will determine the direction I believe else another ranging day, which I don't expect it to be. Just an info for harmonic traders,last week bearish Gartleys target 2 around 8770's. Happy Trading !
NSE:NIFTY
by InsiderB
15
Nifty : Will Double Top & Gartley work Together ?!So, just by one quick look on the chart you will be know about the beautiful Gartley {updated yesterday morning, so I'm not sure how many of you noticed} and Potential double top formation. We predicted Nifty will taking off after Fed's but turned out to be profit booking & boring day. I don't have much expectations today also.Nifty may be ranging within 8900's - 8840's. The trade setups we have today are : (i) If Double Top confirmed with Bearish Reversal - Short Nifty (ii) If we find support at zone marked in green with Bullish Reversal - Long Nifty We have Simple 5-wave Elliot completion, charts will look messy if I draw everything on Nifty. So left it out. Pattern & Double top completion increases confidence only, doesn't mean 100% winning potential. How easy it is... I want Nifty to be this easy everyday, Just under 180 seconds Flat, analysis is over for the day.
NSE:NIFTY
by InsiderB
12