Hey traders!
Spot Gold (XAUUSD) analysis:
Gold had a strong supply zone at 1735-1740 and we saw a sharp fall from that level. Now we have a decent short opportunity in gold, at current levels. Gold has also formed a lower high and is in for a lower low.
SELL at 1687
Stop Loss (SL) at 1709
Take Profit (TP) at 1625
Favourable Reward/Risk ratio of 2.8
Always...
BHARTI INFRATEL currently in 4th Elliott which retraces 38.2 % of wave 3 should take this to 207-211 zones then 5th Wave which usually equals to that of wave 1 should complete near 268 (rally may start be before result?) as per wave projection.
Trade at your own risk.
Using the concept of Elliot waves and NEO waves, considering the Fibonacci retracement and the trend channel, according to my analysis nifty will hit the levels around 10700, the last correction was nothing but a bear trap, i have already bought nifty calls for 10700CE while market was down.
Disclaimer- This is just an analysis please take advise of your advisor...
FOLLOW THE NUMBERS ON CHART AS FOLLOWS
1 - GAP LEFT TWICE, IN CASE OF A MAJOR CORRECTION 9600 APPROX WILL ACT AS IMMEDIATE SUPPORT.
2 - IMMEDIATE RESISTANCE FACED BY NIFTY WHICH IT MIGHT OVERCOME BY GAP UP OPENING TOMORROW. IF NOT GAP UP EXPECT THE GAP TO BE FILLED SOON.
3 - NEXT RESISTANCE LEVEL IS OF AROUND 10500 LEVEL WHICH ALSO HAPPEN TO BE 0.618 LEVEL OF...
Market view negative for today if it stays below 3210.50
Sell at 3200
SL at 3211
Target 1: 3181
Target 2: 3264.75
This post is only for educational purpose. Do not trade solely based on the above analysis. Always use proper risk management. Happy Trading :)
May your trading day end in green :)
TCS day chart has formed Double Top at 2032..
Go for Short if the script trade below 1865.
Target 1 - 1835
Target 2 - 1775
Target 3 - 1725
SL - 1957
Disclaimer: Kindly do your own analysis before executing the trade
Risk reward favorable
Largely under-performer
Strong name pedigree stock .
May move up sharply once important resistance levels taken out.
Rest analysis mentioned on charts .
Comments and suggestions are welcome
Hey, whassup reader?
I bring you an analysis of Nifty 50 using Eliott waves and found the price to be respecting the waves theory from 1996 till today.
Here's my approach, observations, and some prediction mentioned below for you. Like and comment on what do you think about it.
You can zoom out in the chart to see the wave pattern formation across time.
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