#banknifty analysis for 28th May'2021 Decision Zone:- 34,860 - 35,006 Resistance:- 35,200 / 35,550 / 35,960 / 36,350 Support Zone :- 34,751 / 34,410 / 34,142 / 33,850 Rising Wedge is not a good sign, book profit at higher levels. One of the best forms of PA action is not to predict but to act on the price, chart tells you where, when & how to act on price....
Escorts appears to be a sensible purchase as a larger wave 1 & 2 has completed, indicating that there will be a substantial rally in the uptrend, leading to a goal of 2415.55 if it breaks all of the targets listed below. The targets for a strong positional investment during the next 200 days are shown below. 1st Target - 1486.20 2nd Target - 2054.70
Since the NiftyPSU is on an uptrend, looking at the waves indicates that it will be a smart buying as wave 5 has just begun. Below are expected resistance levels 1st Resistance level at 2497 2nd Resistance level at 2667 3rd Resistance level at 2741 (Breakout level) It can provide a target of 3067.
Follow Blue count Wave (1) Leading was made when recovering from Mar 2020 low we are currently in wave (3) which is extended and still in progress. Follow Orange count Five moves started in Oct-Nov 2020 which triggered massive rally wave (iii) extended nearly 261.8% of wave (i). It came to end at ATH 15432 then this whole (i) to (v) wave sequence got corrected...
As Nifty completes its 5 Waves, Wave A and currently completing wave B Followed by C which is expected down side for a approx target of 13882.
Details on the chart..
Wave C seems to be ended today near 14590 v of C was ending diagonal with internal zig zag moves. Fresh Impulse has started 1,2 done and 3 started or a,b done and C in progress. Expecting 1.382-1.618 when 3 or C goes up beyond 1.618 level extension is expected. ###Earlier idea link can be found below#### DISCLAIMER:There is no guarantee of profits nor...
Glenmark is expected move in expanding Leading Diagonal. V wave of leading diagonal always moves beyond end of wave III. V wave expected to move minimum 100% of length 0 to III somewhere near 1400+. Most likely to 138%(1.382) or 168%(1.618) which are near trend line. The prospects and analysis are for long term if anyone wants to keep stop loss then they would...
Three white soldiers formed on weekly chart. Dip towards 75-73 long opportunity 5th wave expected to be extended reaching anywhere between 1 to 1.618 levels. If channel drawn on iii and iv gets broken aim for 1.382-1.618 levels. Other details on chart DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the...
Nifty came down in Zig Zag wave with C wave reaching 14650. This is important support near trend line, interestingly that is near 0.618 Fibonacci level Until 14782 gets broken there is no upside confirmation. Once breaks will attempt new high as 1.618 Fibonacci extension above 15550+ or minimum 15210+ Bearish below 14460 so 14782-14460 is no trading...
All analysis visible in chart. DISCLAIMER:There is no guarantee of profits nor exceptions from losses. Technical analysis provided on the chart is solely the personal views of my research. You are advised to rely on your own judgments while taking any investing/Trading decisions. Past performance is not an indicator of future returns. Investment/trading is...
Hdfc bank spot cmp 1430 Sell on rise candidate Currently counter is trading in corrective phase , impulse wave B of corrective phase,, Wave C might unfold from levels of 1450 or from 1490 levels,, Wave C might extend to levels of 1250-1200.. View gets negated above 1500 on closing basis.. Head and should pattern formation have right shoulder peak around 1460-1480...
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Stock in flag consolidation since long time and on verge of breakout. Long near 360-70 with Stop loss 302 Minimal target 512-15 of Wave 3 or C. Agressive targets posted as Wave iii can be possible as consolidation is quite high DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my...
VIEW: USD index appears to be ripe for an upswing as per elliotwave analysis. Pattern/Structure: zigzag + x + zigzag =double zigzag
According to EWT, the 5th wave has been almost completed. The ABC correction will start soon. As mentioned in the chart, MCX aluminium will start collapsing for the target price of 176 - 172 - 168 - 162 soon. At present, if we see for intraday traders, then it's upward. Aluminium will touch 184 - 186 levels, and then ABC correction will start.