Price action Breakdown Analysis:
It is the EURUSD monthly timeframe, and it shows a downtrend for more than 15 years. The price has settled in a downward value area.
Elements of price action Breakdown:
Excess:
There are nine price excesses, four on the upper band and five on the lower band. It shows that the sellers were too aggressive when the price touched...
According to EWT:
5th wave has already traveled for more than 2.618% reverse Fibonacci retracement of wave 4. Now, bullish momentum can push it up to 136 at 3.618% .
After making a high of 17480, Bajaj Finserv has started falling.
Today, It has made a low of 14660 .
In 15 min timeframe, we can see a bearish butterfly pattern, which indicates a bearish trading setup for intraday traders.
Bajaj Finserv has completed its D point at 15250 . If the price sustains below 15250 , traders can expect the following targets: 15080...
First, I recommend reading the previous report of BankNifty.
Link: BANKNIFTY Can't Wait to Fall – Even Without NIFTY's Help
According to technical analysis, Banknifty is trying to collapse. It needs solid support to reenter into the uptrend channel. The strong support is nearby the 34600 level. It will try to retest 35260 - 34880 - 34600 levels this week.
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Key levels: 36496 - 37060
Bank Nifty was following the uptrend channel from Dec 2020, and it had broke on 02 March '22. There's a new parallel channel unfolded.
In the last trading session, Banknifty has created a shooting star pattern. And this pattern is a single line pattern that indicates an end to the uptrend. At the same time, it is close to a parallel...
NSE KoltePatil stock overwhelmed today, and it hiked +34.10 ( +12.30% ). Technically, the A B C correction of the Elliott Wave is over. We can expect impulsive moves ahead. Today's volume spike and breakout of EMA 100 indicate bulls are stepping in. The uptrend can extend up to 322 - 340 - 350+ target price for intraday traders.
Further information I...
Dr. Reddys Labs Fut closed at a crucial level. It has to take a U-Turn from the current closing price. Otherwise, speculators will keep selling. And according to TA, we will see the target of 3780 - 3720 levels soon.
Aegis Logistics is seemed bearish more. It's the top loser stock of last Friday's market session. I have drawn this chart to show a bearish area to short-term investors. Wherein AEGISCHEM can show 150 - 138 - 118 levels into that area.
Intraday traders can sell for targets of 166 - 164 levels. And if it breaks the 164 level, then be ready for a downtrend.
JK Laxmi cement has accomplished impulsive wave ((3)) and has a complex correction of wave ((4)).
After making a high of 816 , the price started forming a corrective channel for wave ((4)).
It has made a low of 529.10 , and we can see a price surge to 630.
However, the price reached the upper band of the channel, but it is facing dynamic resistance ...
Extending wave (5) should easily travel above 18000 and is likely to continue toward 18480.
Target 1: 18000
Target 2: 18142
Target 3: 18350
Target 4: 18480
Stay tuned for the next update.
