Get started

Harmonicsignals

GRASIM CASe studyGrasim spot cmp 1750 levels cup and handle pattern formation, where breakout can be confirmed above levels of 1835 , need 2 consecutive daily close above levels for confirmation symmetrical triangle pattern formation, where counter have resistance zone around 1790-1825 levels and support zone around 1690-1720 levels. decisive breakout on any side would lead to a move of 8-10% on either side. pre assumption of harmonic pattern formation. if the formation goes according to ploting, counter would give sharp retracement to levels of 1450-1500 levels, elliot wave suggest counter is trading in 5th wave of motive phase, now as there are cofluence of resistance around 1790-1830 levels wave 5 can be trucated in nature and soon the motive phase might come to end, now if happens so motive phase would lead counter to good retracement levels,, time to book you long position on every rally, now investment should be considered only above levels of 1835 on 2 consecutive close, Bulls need to be cautious at current juncture.
NSE:GRASIM
by RUDRA007
DOW JONES INDUSTRIAL AVG spot cmp 33608Index is trading in time cycle of 106 days and 73 trading bars on daily time frame, after every 106 days index tends to make peak and reverse below previous low levels, 106 days cycle maturing soon,, need to keep watch on that time cycle, index have given break out from descending trend line resistance, and sustaining above that levels, but till it does not sustain above levels of previous swing high,, there is probability of 3 drive harmonic pattern formation,, which would lead index to fresh low levels , in both case study of time cycle and harmonic, there is probability for dow jones making fresh 52 weeks low,, at the moment reversal below trend line is necessary to consider the end of bullish trend, RSI is making bearish divergence and also RSI have broken the trend line and at the moment is at retest levels,, if reversal is confirmed index will give sharp fall ,waiting for confirmation below trend line on daily candle.. This view is conditional.
DJ:DJI
by RUDRA007
5