Bearish flag + 61% retracement + overbought MACD = good R:R for shorts
Key Support Levels: $410, $400, $380 Key Resistance Levels: $438, $445, $465
Buy above 22030 for 150,300,700+++ Sell below 21875 for 150,300,700+++ Can comment or ping me for any query All views for Educational purpose, Trade at your own risk
Buy above 3450 for 15,40,70+++ Sell below 3405 for 15,40,70+++ Can comment or ping me for any query or live updates All views for Educational purpose, Trade at your own risk
Buy above 4520 for 15,40,70+++ Sell below 4485 for 15,40,70+++ Can comment or ping me for any query or live updates All views for Educational purpose, Trade at your own risk
Buy above 2132 for 10,25,50+++ Sell below 2110 for 10,25,50+++ Can comment or ping me for any query or live updates All views for Educational purpose, Trade at your own risk
Positional Short Entry: 32 (aggressive) : Wait for breakout of neckline and wait for successful retest of neckline (Conservative) Target 1: 30.20 (aligned with Fib 0.382 retracment) Target 2: 25 (not aligned with Fib 0.618 retracment, Fib 0.618 retracment is 23.25) Risky trader can target for 23.35. SL 37 (on closing...
Nifty formed Parallel channel inside bigger channel and making smaller candles suggesting upmove exhuasted. It formed Contracting Triangle at top of trend and didn't break major resistance 11380. On 14th Aug gave downside breakdown from triangle completing sharp downside of 3rd impulse wave. Third wave completed as you can see it formed Hammer at 11111...
If NIfty shoots upside it can topout at the previous high @ 11341. if it breaks down 11165 then it can trade below the neck line placed at 10880. Upside target : 11243, 11300, 11341, final 11377 downside target : 11111, 11055, 10880 , if the neck line is broken then the direct target will be 10580 and 10551 which is 1.618 level and...
Meghmani Organics Parallel channel Breakout Stock out of consolidation and correction. Green arrow shows three phases of stocks namely UPTREND,DOWNTREND and CONSOLIDATION Currently in Wave C of correction or Wave 3 of impulse which should end near 78 zones. Long all dips towards 60, Stop Loss 49 on daily closing basis Expected positional targets 100, 115, 130+...
Elliot Wave Analysis of Tata Steel with Fibonacci retracements. Currently in wave A of parallel channel correction or about to end Wave 3 of Impulse start of wave 4. Daily chart shows shooting start on 11th Aug and on 13th Aug resisting 430 levels. Tata Steel Downward Parallel Channel breakout on Weekly chart. Testing Trend line drawn from wave 1 start and wave...
Banknifty is turning out to be tricky to trade. Here is a weekly chart with Fibo. Note : 1. Banknifty in range 21000 to 22900 for last nine weeks. Its almost flattened out with the latest week in indecisive doji pattern. 2. Lot of supply seen at 0.618 fibo retracement. Accordingly , 21000-21500 seems to be good entry point for positional trades to go...
All waves have been marked on the chart .... Waves A and B of the present correction are over and the final Wave C of the correction appears to under progress ... The entire correction being a Flat/ Extended flat, Wave C should be retracing Wave A entirely ... Wave C is an impulse with Wave 1 as a leading diagonal. In Wave 1 of Wave C, the fifth wave was a...
NIFTY has been trading near the resistance zone(78.6 Fibonacci level) from the past week and it has closed near the lower trend line of the rising wedge pattern. There is a Negative divergence on RSI as well. If it headed for the reversal, it's likely to find support at 61.8 Fibonacci level i.e, at 10550 (or) at 50 Fibonacci level, which is around 10000. Cheers....
BankNifty has been trading near the support of Rising wedge pattern (a reversal pattern). It has been facing the resistance at the 38.2 Fib levels from the past week. If it heads for correction its likely gonna find support at 23.6 Fib level, which is near 20000. Cheers. This is as per my analysis, please do your own analysis before doing any trade/investment....
Airtel @ Buy Point of Daily Support # Trend Based Trading # Retracement @ 0.618 # Expect a new high