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CRUDE Hello & welcome to this analysis WTI OIL is at the PRZ of a bullish Harmonic Cypher pattern suggesting a bounce/reversal from current levels. Crude (MCX) however does not have any bullish harmonic patterns at the moment, normally, we do see them in sync, however, this time maybe due to a strong INR the pattern is not seen. One can take a trade tracking USOIL / WTI either above $57.85 (60m close) with swing low as stop loss or take a bullish trade here with $55.95 as stop loss. The targets are 38-50-62 Fibonacci levels as marked in the chart All the best
TVC:USOILLong
by Dinesh_C_Nagpal
USD INRHello & welcome to this analysis USDINR topped out on 10th Feb @ 88 to see a sharp reversal all the way till 4th April when it formed a bullish Harmonic Deep Crab pattern @ 85 that too lead to a more sharper bounce back till 9th April when it formed a bearish Harmonic Reciprocal ABCD pattern near the top end of the slanting channel. From there we have witnessed yet another steep downward move which is currently resting at the lower end of the slanting channel. Failure to hold 84.45 - 84.35 could lead to a further downward move till 83.70 where it would attempt to form a bullish Harmonic ABCD pattern that could coincide with DXY bullish harmonic pattern near 95. So if you have exposure to currency for any reasons whatsoever - overseas trips, college fees, business, commodities trading, etc - this might be of help to you. Disclaimer - Not a trading advise, kindly do your study carefully before taking a decision
Short
by Dinesh_C_Nagpal
NIFTY ITHello & welcome to this analysis NIFTY IT (CNXIT) appears to have completed in Monthly from 2016 lows an impulse 5 waves up Weekly shows a running flat wave 4 followed by sub waves of the terminal 5th wave Daily indicates post the impulse an ABC corrective ended (ending) is this A of abc down after a monthly 5 up or is it wave 2 complete with this ABC? It is too early to say the latter. Normally the corrective tends to retest the start of the preceding sub wave 4 that is around 31000 but that is not mandatory as per Elliott Wave rules. An early indication of which wave is unfolding will depend on how the sub waves come out now, either they will be corrective, then it would be B of abc or they will be impulse then wave 2 has ended and index is into Wave 3. Interesting days ahead for IT index All the best
NSE:CNXIT
by Dinesh_C_Nagpal
1
SILVERHello & welcome to this analysis Since May 2024, Silver (Comex) has surpassed $32.5 only once and failed on 4 attempts (including Fri - 14th Feb). Silver (MCX) has surpassed 96500 only once and failed on 3 attempts (one less due to $:INR impact). Is this setup a complex H&S in the making (multiple shoulders)? I have my doubts on that because the weekly and monthly patterns are of a cup and handle formation with the latter in the process of currently shuffling out weak hands. A daily close above 32.50 / 96500 would lead to a strong rally. Strong support now at $31 / 93500 Medium to long term view bullish, short term volatile - waiting for breakout Regards
OANDA:XAGUSDLong
by Dinesh_C_Nagpal
EMAMI LTDHello & welcome to this analysis the market has taken a heavy toll across all sectors, not even sparing the defensive sector - FMCG. What lies ahead for Emami, a fmcg co with established brands across several segments - I have in this video covered the stock across multiple time frames showing likely support areas and probable resistance areas keeping in mind the likelihood of more upside in the medium to long term based on the studies of Ichimoku & Fibonacci Happy investing
NSE:EMAMILTD
by Dinesh_C_Nagpal
COPPERHello & welcome to this analysis Copper (MCX) is making a bullish Harmonic Seahorse breakout. A weekly close above 885 would activate it for a potential upside probable target of 1000. Post breakout if it slips below 700 the pattern will have become invalid. Good risk reward set up currently for accumulation. Stocks which could gain from increase in copper prices - Hind Copper, Hindalco & Vedanta. Sectors which could get hammered from increase in copper prices since its a part of their raw material for manufacturing - White goods consumer durables manufactures, Electric cables and wire manufactures & Automobile manufacturers. All the best
MCX:COPPER1!Long
by Dinesh_C_Nagpal
BOSCH, SAMVARDHNA MOTHERSON & SONA BLWHello & welcome to this analysis Auto ancillary stocks at strong support levels suggesting a bounce/reversal from current levels with them forming Bullish Harmonic Patterns in weekly time frame BOSCH - Alt Shark MOTHERSON - Alt Shark SONACOM - Cypher Today's candle were very strong, one can look to add on follow through confirmation or on pullback, the risk reward appears decent at current levels. In the video I have suggested possible levels of resistance on upside along with negation levels on the downside for each case. All the best
NSE:SONACOMSLong
by Dinesh_C_Nagpal
3
NiftyHello & welcome to this analysis The index which attempted a bounce on Tuesday failed to breach above 23250, today it is again witnessing selling pressure. A bullish Harmonic Alt Shark could pause/stop this decline near 22675 which is the lower trendline of a falling channel apart from it being the monthly Ichimoku support area. Further decline could take it to 22400 where it has a Bullish Harmonic Gartley. Short covering as of now is appears to be only above 23175 The risk reward going forward still remains in favour of short side trades
NSE:NIFTYShort
by Dinesh_C_Nagpal
CNX 500Hello & welcome to this analysis The index in daily time frame is retesting a Bullish Harmonic Gartley pattern made in end January which coincides with the formation of a wedge pattern and a double bullish divergence. A bounce back could be possible if it manages to start sustaining above 20850 for 21500-22500 however, if it breaches the lower trendline of the wedge then a lot more downside would become inevitable. Harmonic Trading Patterns are formed in a combination of structures and Fibonacci ratios. When they align and give a reversal candle follow through a strong bounce/reversal probability is relatively high. Wait for confirmation and enter only then, in case of breach of falling trendline avoid the signal. Regards
NSE:CNX500Long
by Dinesh_C_Nagpal
2