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...
Yes ! Nifty gonna be a test match which is going to test your patience in coming days. Markets opened already, but I'm not altering the analysis which I did for the day, posting it out as it is I did in the morning,No Changes. Hey Guys, Note - this is not single day post, Refer this for coming days probably next 3-5 days. It will be valid for 3-5...
The stock is in downtrend making lower lows. IT has given first reversal signal forming double bottom and also divergence at this level in MACD/RSI. One can enter the long trade now as the risk is low. How far it would go only time would tell but 325 seems quite reasonable expectation.
It is been observed that price action failing to breach 770 levels due to selling pressure on higher prices that limiting the price action to 770 levels where it formed a double top (V-shape). Now it is a good time to short it with stoploss at 770 levels. Target: 745 Stoploss: 770 Risk Reward: 1:5
Hi Guys, About 2 months ago there was a post about Ashokley , that bullish bat is forming and bat completed after 2 months of wait n in the zone, I have attached that idea below. Currently, (i) Ashok Leyland is bottoming out in previous support zone (ii) Support zone quite strong with no. of retests (iii) After Bullish confirmation , initiate Longs (iv) The Double...
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...
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 -...
This is delayed post, went to place few orders, Sorry Guys ! Could have abandoned this post but as it got insync with My prev.post of BankNifty, I wanted to share that all methods work well in markets if used properly. In last BankNifty post 10days before we have seen elliott waves and wave 5 pointing upwards. I initiated long from that time with stops below...
I think I should post My analysis by 8.45 am or earlier, Daily when I'm writing up description pre-market happens and then I need to include premarket scenario's too. Need to work on My Morning Schedule ! By yesterday evening, in the last post, I have updated about Double bottom and as result of it we had this Gap Up opening in Nifty. Don't worry Guys, this is...
As markets aren't any good, we can't go in with exact directional trades except few scrips. YesBank had completely racy move and never looked back, so the market price action hasn't provided any proper support resistance zone. But still you can trade as mentioned above but quite risky. The Double Bottom mentioned above I wont prefer bcos support is very near in...
The concept lying behind this post is how to trade with Elliot waves and use it to our advantage, with simple known techniques. Many will have doubts on how Elliot Wave count is done.It's as simple as 1-2-3, I will explain step by step. This is gonna be Learn n Practice post, so with each step mentioned, you draw & analyze along with Me, So that you can learn more...
Nothing fancy today, No patterns or complex wave counts... Simple Double Top in Nifty. But is it Valid Double Top ? Actually, if Nifty is @ 8968's we can vouch that its very much valid double top but its few points away and we have resistance zone also. Nifty is known for its mischievous Gap openings, so lets wait n watch whether we get bearish confirmation in...
Wipro is at major confluence point 1. Long Term Trendline from 2008 2. Forming Double Bottom @ 475 3. Downward Bullish Trendline
It is been observed that the price action breaks out from a trending channel and then the selling seen at the double top that confirms selling and the price action shall move down to the previous resistance, now shall be acted as support. Target: 454 Sl: 474