17-10-2020 > Market cap: 4400 > Up 90% from 52 week low > Making inside candle > Volatility and Contraction concept > Consist increase in the volume > Entry at 546, SL 490
Waves have been marked on chart for easier assimilation .. It appears that Nifty formed a triangle corrective pattern on 16 Oct .. View for Monday is bearish ... If Nifty opens flat, expecting a rally till the resistance zone marked on chart and completing the correction ... Thereafter the minor Wave v should commence and complete at support zone marked on 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 subject to market risks. Seek help of...
I have marked two red circles on the chart, depicting a classical double top bearish pattern and what we call a flat correction in EWT .. Accordingly with the first 15 min candle, it was evident where Nifty was headed to today .. had been a flat correction for the rally upto 12022, Nifty should have taken support at 11860 or 11820 levels and continued with the...
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 subject to market risks. Seek help of...
Here, I have applied Elliott wave , moving average , volume , and MACD . Wave 4 can be steady or sideways for a while. Overall, silver is in an uptrend. Safe investors can buy silver at wave 4 for the following levels: Intraday Targets: 62100 - 63300 Positional Targets: 64260 - 65200 At present, moving average and MACD throwing upward signal by...
As per wave count, it appears that the corrective leg Wave (b) is not complete yet ... Hence expecting an upward rally to start with till 1015 hrs, followed by the corrective leg Wave (c) unfolding in downward direction .. Resistance would be 11965 -11955 and has been marked on chart .. Support zones would be 11845-11835 and 11755-11735, as marked on chart ......
Nifty opened gap up and attained a day high of 12022, which is 161.8% projection of Wave (1) marked on chart ... Hence assuming that Wave (3) is complete and accordingly its correction continued for the entire day .. Wave (a) of the correction is an impulse and appears to be complete ... Moreover, since Wave (2) was more of a flat correction hence expecting Wave...
Minor wave 3 appears to be complete and its correction is under progress ... The corrective pattern appears to be unfolding as a Extended Flat correction ... Hence expecting Wave c of the correction to unfold as downward impulse ... Resistance and support as marked on chart are :- Resistance - 11955-11965 Support - 11765 -11750 Expecting the bull run to continue...
As explained in previous chart we were able to pin point Banknifty's down move. Downward wave four 4 was double zig zag correction which completed near 24404. We are witnessing now final Wave 5 impulse of leading diagonal and currently in wave iii which should extend 2.618=24785 to 25000. There will be sideways correction next may be till 23500-23300. Final...
It's A 3-3-3 Structure Which is Known As WXY.
If Resistance 1355 holds as the top then we expect 1180 ( 1st Target) & falling below 1180 more on the downside Last Price- 1322 / 13:03 Hrs / 5th Oct 2020 Strict Stops Above - 1355 1st Target Downside - 1180
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 subject to market risks. Seek help of...
Wave X as marked on chart shall be valid only if it smaller than Wave C ie, Nifty doesn’t break 11620 mark .. yesterday’s day high of 11579 will be key resistance.. if Nifty manages to break n sustain above it, may test next resistance zone of 11635-11655, in which case Wave X shall not be valid and one can expect further up move in days to come .. however if...