M&M FIN looks bullish broke 0.5 fib level from the march fall and taking support there ( 160 ) . Upside targets are marked . 179-180 is the next upside target
Fibonacci Retracement
UPDATE: Identifying the Crude Oil Price Next Big MoveDid you read my 23 Nov report on crude oil?
Visit here: Identifying the Crude Oil Price Next Big Move
I had written in bold words, " smart investors can buy for 3260 - 3300 - 3360 - 3400 levels ".
Crude oil has touched the first three targets by making a high of 3376 levels.
Per lot, we have made a profit of 150+ points ( Rs.15,000+ ).
M&M Wave 4 Elliot Wave analysisDISCLAIMER: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 your financial advisors before investing/trading.
I may or may not trade this analysis. Details in description.
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M&M Wave 4 Elliot Wave analysis
Case 1: If this is symmetric triangle then should end E wave near 610-605.
After this if breaks and closes above 631-33 then 740 can be wave 5 target, Stop-loss will be 567
Case 2: If wave iv is Double three correction pattern.
This will be confirmed if breaks and closes below 590.
We can expect 551 (0.382 Fibonacci) level then target will be 726, Stop-Loss will be 537.
Gold have to Come at C level ! (MCX) Impulse Phrase is completed and the correction phrase is forming.
Fib. RET. :
wave 2 : 78.6%
wave 3 : 361.8% (Extended)
wave 4 : 38.2%
wave 5 : 161.8% (Extended)
wave B is Bellow the starting point of wave A, so we can expect
Zigzag correction at Wave C.
both parallel channel are giving Confirmation at wave C.
Limit of wave C is wave 2 of (5) wave.
HCLTECH forming a channelIt has been respecting its support and resistance. The levels of trading have been mentioned. We can go long if there's a gap up opening or breaks the level with a good momentum. Consolidated between 0.5 & 0.618 and gave a breakout.
BNF Trade setup for Nov Last week 2020BNF has been really bullish since it broke its major MA line (Weekly and Monthly SMAs)
Shorting levels:
For this expiry week, 28808 is major support, next major support is 28030, if any of these are broken intermediary high oi strike price supports such as 28500 are possible.
These levels ca n be used to short the stocks
Long levels:
Above 29233, there is long time resistance of 29350, then 29600 and 29860 beyond this its got limited resistance from high OI strike prices, aprt from that it is strong till 30750
Further a trend-zone can be observed like in Nifty, if it breaks either side, good opportunities.
Nifty 50 Trade setup for Expiry week of Nov 2020Nifty is in critical juncture of end of 5th Elliott wave both in short term and long term (since March). With lots of positivity in BNFS and stimulus and FII pumping in money, chances are the corrections will be delayed. However it is bound to happen.
So in this duality, the white lines provide correction starting from 12963 itself, and the other Elliott wave lines provides correction after 13K.
Either ways, if we follow the Fib-retracement lines for support and resistance, can do significantly disciplined scalping in Nifty indices.
Nifty above 12964 has capacity to reach 13500s. There are couple of resistances including 13106 and other option strike price level resistances.
Further below 12964, levels include 12770 and 12654, can consider 10-15 pts error margin and initiate and end positions at these levels.
Bank-nifty short term harmonic Forecast ( Time zone Forecast))It seems Bank nifty is in Uptrend I have done a study on harmonic patterns.
As of now it is at the mid of CD leg so following things may happen...
1) If it sustain above 29412 then it may give a TGT 29550 , TGT 29825 , TGT 30170 , Final TGT 30625
2) Now if it start reversal from this level i.e. 29790 and breaks 28550 then we will get a TGT 27990
3) If It start reversal from 29790 level and breaks 28550 then we will get a TGT 27745
4) If it start reversal from 30200 level and breaks 28550 then we will get a TGT 27532
The probability reversal time zone is 26th to 27th December 2020
support at Fibonacci level, buy for 10-15% returnsHas taken a support at Fibonacci retracement and is closed above the important level.
UPL looking bullishUPL has made a bullish candle at the support level with the volume being expanded for the day. It can make an up move from the current levels till 200 EMA or till 480 levels.
Cheers! This is as per my Analysis. Feel free to share your view about this. Please do your analysis before trading/Investing.
Happy Trading.
Nifty Short term Downtrend outlookThere are 2 Parallel channels given where the shift of track shown in the chart but there is a beautiful Harmonic XABCD pattern created which has always maintained the Fibonacci level when retrenching.
On that base and present trend analysis, I have tried to understand the recent move of Nifty Future ( present continuous) with the given target level and stop.
Balkrisind Long!!!!Few days back BO give above 1410 with good volume and trade was shared
All time high-11514
now 1410 resistance becomes good support and good volume seen near this support
support zone of demand zone---1336 to 1195(which is also fibo retracement 78.6% and 61.8%)
bullish in all time frame
comfortably sitting above all important moving average
very bullish structure
XAUUSD PredictionXAUUSD Predict this way.. its going upper trendline and going down trend
i follewed certain rules. its educational purpose only.
#GBPJPY
#CopyCat Forex
!!Trust Fibo, Trust Trade!!
Potential breakout - Channel pattern61.8% support taken & trend reversed.
Possibilities of channel breakout & strong up movement.
Nifty Analysis for November 16, 2020 weekBased on levels and trendlines .
Longer levels are strong support and resistance (for day trading and swing trading) and shorter trendlines are weaker support and resistance (for day trading and scalping).
Short Reliance - Target 1600, But be cautiousIt's purely based on Fibonacci levels.
I believe Reliance will be touching 1600 in near future.
Short Risk/Reward Ratio is 4.15.
STRICT Entry point at 1978, (Enter only if this level is reached)
Target - 1600
Stop Loss - 2069
Elliot waves from Oct 29 Great ExampleWe see:
0-1 Impulsive wave
1-2 Triangle correction wave
2-3 Impulsive wave
3-4 Correction
4-5 Ending Diagonal wave
And the immediate fall
Banknifty in Leading Diagonal 5th Wave coming to EndFrom March Lows Bank nifty is slow mover but now formed leading diagonal which is sign of uptrend coming in future.
But right now we will experience corrective wave to 5 wave leading diagonal before uptrend.
Current price 26798 and at parallel channel resistance max 27000-27162 can be expected.
We can see zig zag wave (a)-(b)-(c) from 27000 levels.
Wave (a) is expected from this point towards 25232 or 24432 (0.236 Fibonacci level of wave 1-5 of leading diagonal)
Wave (b) should retrace towards 26361 (0.618 Fibonacci between all time high and march low)
Wave (c) should retrace towards lower end of channel towards 23000 or 22842 (0.382 Fibonacci level of wave 1-5 of leading diagonal)
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 your financial advisors before investing/trading.
I may or may not trade this analysis. Details in description.
-------(((((Please LIKE & Donate Coins to support my analysis)))))-------
ITC Deatiled Elliot Wave AnalysisDISCLAIMER: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 your financial advisors before investing/trading.
I may or may not trade this analysis. Details in description.
-------(((((Please LIKE & Donate Coins to support my analysis)))))-------
Target price for wave v or wave (C) was actually 150 based on Fibonacci retracement plotted between wave 3-4
Planned video was around 10-12 minutes, plotted waves and targets for wave v(wave C) didn't got save so went ahead of time and become 16 min :D
Nifty movementsEnded just below long term trend line at 12275, strong resistance can be seen. Might range for some time horizontally and if it fails to break 12275, then downward movement can be expected beyond the wedge. If breaks, next Fib ret. resistance at 12357, ATH resistance at 12430, if momentum from BNF continues, might as well breach 12430 and reach towards 12600 where next correction can be seen.
