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Evening Star

TCS - Trendline rejectionTCS NSE:TCS again got rejected at the long term trendline resistance which has been holding strong since Oct 1,2018. I can see that it formed a long Bearish candle and an Evening Star pattern on Feb 28. Good opportunity to shot for targets of 1940 and 1920 with stop loss a few points above the downward sloping trendline. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:TCSShort
by nano6yogesh
Auropharma – 831 to 750 - A crack!Auropharma – 831 to 750 What a crack! Risky Traders – get ready to lose 4-5 points and gain 50+ points – closing statement in the video idea – “Once bitten twice shy” as of 4th Dec 2018. If the stock moves in line as you expected giving us an exact entry as well to be precise 825-827 zone when it closed overnight at 821 levels has to be dream come true scenario for an analyst. Flashback Overnight (As of 4 - 6th Dec 2018) , Auro was moving within rising wedge –a common term used by traditional analyst until I came to know about wave analysis where the same structure was termed as “ending diagonal” – a overlapping structure which indicated that the upward structure could be ending soon. Rising Wedge When a financial instrument (which could be stocks, forex, commodities, bonds etc,) price has been rising over time, trendlines drawn above and below the price chart pattern can converge to show a potential reversal point at a peak. This reversal point can indicate a bearish price point signal in which the security’s price is subsequently expected to reverse lower. In our case the peak was 831 High and we got excellent selling opportunity close to the peak at 825-826 zone – High was 826.70/826.80- rest is the history Target achieved – 794 as suggested over the video with small pause and breaks at 815 -810 zone. This pattern is used by traditional analyst and wave analyst Books – Technical Analysis -Edwards and Magee ,Wave Analysis - Frost and Prechter Polarity Reversal = History Repeats What happens is that history essentially repeats itself, but the role of price at that level changes from resistance to support and vice versa. Polarity Reversal concept explained in my favorite book which was the first one I referred for the journey of technical analysis written by – Edwards and Magee. Important Polarity Reversal zones in last week 790-792 777-775 Candlestick Analysis Evening Star – 3 candlestick pattern as suggested in the book – Candlestick Analysis by Steve Nison Steve Nison – Father of Candlestick Analysis. Book – Candlestick Analysis by Steve Nison Harmonic Analysis Bearish Crab - Excellent Harmonic Structure occurring at 831 was an amazing clue Book - Harmonic Analysis by Scott Carney Trendline / Channels Book – Technical Analysis by Edwards and Magee is the reference book. Financial Astrology Term used by financial astrologer- “Retrograde” was also updated in previous video idea of the Nifty Index – “Mercury, Markets and Mayhem below 10800” – Mercury retrograde runs till 6th Dec 2018 – if you haven’t gone crazy – don’t worry market will make you crazy. Note- As updated/suggested on 29th / 30th Nov 2018 in last Nifty Video Idea comment section –we expected to be cautious from 10950-11000 zone which was danger zone What type of analyst are you? You just had to pick and execute –rest you were bound to enjoy the markets. Finally, It was kaka’s blessing directly from Bollywood (Kaka – Late Rajesh Khanna) – stands out to be real tribute to this Bollywood actor in the creative way (audio clip) as updated in last video idea. Thanks.
NSE:AUROPHARMAEducation
by WaveTalks
27
ADANI PORTS - JOURNEY OF THE SINKING PORTGuys today we are going to discuss about Adani port initially I would would discuss how it was in a uptrend, there after I will show that how we could have identified that it will turn into a down Trend. (Please open this post in a Separate Tab. And using mouse click on the chart and move cursor to the left to see the remaining part of the chart) Adani port was in a uptrend starting from 2017 initially creating series of higher highs and Higher Lows. In this chart, the first two are the base low and base high. The Lows and High thereafter created are used to draw trend lines / channel which is being followed. The points of reversal have been highlighted along with corresponding pattern they are forming. The share followed a fixed channel for 11 Straight months. The details of Highs and Lows during these 11 months are as below: (refer chart as well) Higher Low 1 – No Specific Pattern here. Normal reversal was here. Since we now have 2 Lows (Base Low and Higher Low) these are used to create a trend line . Higher High 1 – The share was near its its historic resistance and created Hangman pattern (Reversal Pattern) and thereby reversed from here. Higher Low 2 – The Share was near its Lower Channel and created an Inside Bar Pattern which indicated reversal. The share moving up thereafter. Higher High 2 – The share was near Its upper channel and created a Doji (Confusion after a series of uptrend) near the resistance, which indicated Confusion after a series of uptrend. Traders were unsure whether the share will continue its upward trend or not and there share started reversing from here. Higher Low 3 – The shared touched the lower channel and the immediately next candle made a Doji / Hammer but it was formed below the Lower Channel. Doji / Hammer indicates weakness in the ongoing trend. So, though share was trading below lower channel, same could not be considered as a breakdown. Also, the share reversed post this. Higher High 3 – The share showed certain consolidation and confusion in the market. So no specific pattern formed here. Higher Low 4 – In the process to make next Low. The share breached Channel and the next 2-3 candles including one big red candle) was formed below the channel thereby confirming breakdown. The share thereafter created Hammer Pattern and reversed from here. Now although On First December it created a higher Low (which indicates uptrend) it gave a channel breakdown. Thereby giving hints of further breakdown. But Since we always follow multiple confirmations, we would not trade a simple breakdown and would require more surety to ensure the same. The share further moved on make a Higher High 4 and reversed with Bearish Engulfing Pattern. The share then continuously moved down and created a Lower Low. As mentioned in the first part, the first indication was the Channel Breakout and Lower Low gave the second confirmation of downfall coming up. Here we should rely on the confirmation and find a good level to short the share. Since the share is near its crucial support, it would be correct to short this share if : 1. It breaks support with Volume 2. If reverses from Support, we should short near next resistance. The share as expected took support of the major support at 350 and reversed from here creating a Bullish Belt Hold Pattern. Since then the share has formed a channel between support and resistance and moving in between. Shorting near resistance and Going long near Support would have been a good strategy. On 22nd the share broke the support with Volume , there confirming the further breakdown.. Historic Support and Resistance have great significance and such levels are always respected by the shares. Further double confirmation should be used while taking position. Every person has different way of analyzing shares. Some follow Candlestick Patterns, Some follow trend-lines, some follow Elliot Wave and there is nothing wrong with any of these methods. Each of these methods is successful in their own and you need to believe in the strategy you believe and religiously follow it. Just to hold onto your faith and continue with your strategy. Even the basic Candlestick patterns have the ability to reap you awesome results. Thanks, i hope this is Helpful. Keep sharing the list of shares you want an analysis on. Thanks :) PS : All views welcomed if they intend a fruitful discussion. And If Warren Buffet says he still learns, who are we to say or believe that we know all. Lets learn together and Earn together. #JOURNEYOFATRADE
NSE:ADANIPORTSEducation
by prathamaggarwal
7
WHAT HAPPENED WITH MARUTI? 10000 to 6800 Journey!Maruti reached its 52W high at 10,000 and has been faaling continuously since then. The way Maruti % fell shocked alot of people, However it was not all that difficult to determine the fall and I will share, how I proceeded and made money in Maruti 5.71% . On 25 July, Maruti reached its prior top weeks high zone of 9900-10000 again. It was a good resistance and If it is broken with Good volumes, Maruti can go upto 12K-13K, The next day Maruti reversed from the resistance zone and created a Double Top (as shown in the chart), also the Day Candle formed a Bearish Engulfing Pattern which indicates the start of the downfall. Double Top Pattern is a fairly successful pattern and Share is expected to reach the neckline at 8200-8300 zones before changing its direction. Maruti immediately the next day formed a large 500 points Bearish Candle which gave me good profits, And I continued waiting for my Initial target of 8200 (Neckline). In the meanwhile share gave a lot of green candles, But I since I was already in profits, I had margin of bear some green Candles. Each time Maruti showed a couple of green candle, a Big Red candle wiped out gains forming Bearish Engulfing Pattern repetitively, which posted my confidence. Share reached up to 9000 after that Rose 250 points. I though of squaring off position but the prior experience showed that there has not been 3 consecutive green candles in the past 9 months, So I decided to wait for the next day. Maruti reversed and showed red candles for the next 3 days and formed a 3 Blacks Crows pattern, which is sign of huge fall coming. Near 14 September One Gap Up for formed, but the next day there was a Gap Down thereby forming a Evening Star Pattern. On 19 September, Share finally reached my initial target of 8200 after I squared off and decided to play a LONG STRANGLE, to up my possibilities of winning. I took a Put and a Call at 3% Difference. Soon The share broke the neckline and started to go more downwards, I squared up my call and waited for gains in Put. Every person has different way of Analyzing. But the idea is to hold onto your faith and continue with your strategy. Even the basic Candlestick patterns have the ability to reap you awesome results. Thanks, i hope this is Helpful. Keep sharing the list of shares you want an analysis on. Thanks :)
NSE:MARUTIEducation
by prathamaggarwal
14
Nifty – Topped out ?After making a high around 11080 levels on Thursday, Nifty NSE:NIFTY witnessed heavy selling pressure and could not hold on to 11000 levels. I can see an Evening Star like formation here with a large Bearish candle. Sold 11100 calls in the morning as soon as it broke 11000. There are multiple supports around 10900 and 10700 levels. However, I think call writers are safe so long as Nifty stays below 11000 levels. (Can think of exit if it bounces back and sustains above 11000) Good opportunity to go short here with a small stop loss. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:NIFTYShort
by nano6yogesh
Escorts – Downtrend resumes ?After a good recovery from the lows of 822 to 900, seems like the downtrend in Escorts NSE:ESCORTS may not be over yet. The Auto index NSE:CNXAUTO appeared extremely Bearish today forming an Evening Star pattern. I can see that Escorts has formed an Evening Star like pattern as well and has reversed in the 50%-61.8% retracement zone of the previous downmove. Looks like the stock is heading back to 836 levels. Good opportunity to sell calls here with stop loss at 900. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:ESCORTSShort
by nano6yogesh
1
Mindtree – More pain on the way ?With both Nifty NSE:NIFTY and Nifty IT NSE:CNXIT indices looking weak, more pain seems to be on the way in certain stocks. Many IT stocks appear to have formed an intermediate top today. I can see that Mindtree NSE:MINDTREE has formed an Evening Star pattern with a large Bearish candle today. Good opportunity to go short with a small stop loss for a first target of 902. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
MShort
by nano6yogesh
TCS - Topped out ?As mentioned in a previous idea on Nifty IT, the index appears to have topped out around 14300 levels and is slowly moving towards 13450. I think many IT stocks like TCS NSE:TCS have also formed an intermediary top, looking at the large Bearish Candle and classic Evening Star reversal pattern that it formed today. Good opportunity to go short at these levels with a small stop loss for a first target of 1807. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:TCSShort
by nano6yogesh
ICICI Bank – Double top and Evening StarICICI Bank NSE:ICICIBANK appeared very weak today, with the stock forming a large Bearish candle showing strong price rejection in the 300-302 zone. I can see that the stock has formed an Evening Star pattern today. Also, RSI has been increasing whereas the stock formed a Double Top, indicating hidden bearish divergence. I think the stock is heading back to the 277-283 zone. Good opportunity to short here with a small stop loss. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:ICICIBANKShort
by nano6yogesh
Apollo Hospitals - Time to book profit ?With Pharma sector looking to take a break after a superfast rally, many pharma stocks have shown signs of a pullback. After struggling in the 1040-1075 zone for a few days, Apollo Hospitals NSE:APOLLOHOSP formed a large Bearish candle today. I can see that the price has formed an Evening Star pattern and got rejected at 61.8% of the previous downmove. Good opportunity to short here with a small stop loss for a target around 970 levels. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:APOLLOHOSPShort
by nano6yogesh