Crude oil Buy / Sell Based on FIBO / Gann - INTRADAYAs per my analysis Crude oil is on Buy Trend correction ,So after correction buy at 3046 Stop loss level at 3014 Target Expected 3101 / 3148
Gann And Fibonacci Always rocks Follow us and support us and help us to grow tycooninfotek / tycoonstradingsecret
Fibonacci Extension
Crude oil Buy / Sell Based on FIBO / Gann - INTRADAYAs per my analysis Crude oil is on Sell ,So Sell at 3075 - 3085 Stop loss level at 3098 Target Expected 2986
Gann And Fibonacci Always rocks Follow us and support us and help us to grow tycooninfotek / tycoonstradingsecret
Today at 8 pm IST we have crude oil inventory
SOLO close GAPIt will be the same scenario, a correction then an impulse,with a high probability.
Obs! it is not a buy recommendation.
TORNTPHARM ShortExhaustion of up move evident in monthly chart as shown below:
Resistance recently at 2415 in Day TF,
Shooting Star on Friday with high near to 20 day mean,
Enter short on PDL break,
If EOD close is below 2337, possible targets are as follows:
T1:2262
T2:2166
SL: Close above 2439 (CBSL)
Multiple setup conclusion Observation
-> RSI Divergence (Red line): 11 MAY to 8 June 2020
-> Price & volume : Price is increasing & volume is decreasing : Bearish
-> Fiboonaci extension used to find short term upside movement which can be a point of reversal.
Remark
RIL has tested 1600 level for the third time, hence there can be a + Breakout. ( Extension levels, marked with black lines)
Being a heavyweight of NIFTY 50 we can see some rally in RIL. (Nifty 50 is looking bullish in the near term, refer to my previous chart)
Conclusion
Wait for RIL to give BO from the price channel to initiate a short position.
NSE: DMART Interesting possibility for 2189 DMART chart looking interesting with possibility to move higher after positive earning reports
Good to buy at current level 1880 to 1890 for a targets 1937, 2018, 2075, 2149 and 2184 in extension
Strong possibility to break out above 1937
Keep stop loss moving from 1808.
Nifty Next Fibonacci LevelsNifty
Exactly Touched Fib-Level
On Daily Chart, Retracement of Last Fall
Nifty Retraced to 1.618 times Level 11444
& Closed below this Level
If fall here, we may see Profit booking from here till
23.6%= 11274
38.2%= 11142
50%= 11036
If give Breakout above 11444
Next Level can be 11972
Disclaimer: Only For Study Purpose View.
Nifty 50 Elliot Wave Theory Detailed Study And PredictionAnalysis and detailed study of corrective Wave B on Weekly chart. Please refer weekly chart Elliot Wave counting from my ideas posted 2 days ago or from the below link.
The above analysis is done in 180 min chart. Details already mentioned on the chart. Zoom in/out to see the clear analysis.
This is a breakdown of wave B to complete the same wave and to start Wave C. This will help you to take off position and or re-enter a upmove.
PLEASE NOTE, each wave of each degree is counted with relation to Fibonacci numbers, trend line and horizontal SAR. All the rules/guidelines of EWT are followed for the analysis. The waves may or may not show exact movement as predicted. Please be cautious while taking a position. Always analysis using multiple time frame before taking a position.
Any suggestion/feedback/criticism/healthy debate are welcome. Appreciation, support and few likes are most welcome. :)