Will buy-on-dips strategy work this time? This is the best setups for bulls - buying on dips and a jhat-pat trade. The resistance turns support at 8,970 (pink line) will be crucial for bears to break. The recent rally in the range of 9,000-9,200 seems to be disheartened for bulls. The rangebound session with index being firm above 9K express positive yearly...
BankNifty is reversing after giving an ABC correction... It could very well turn out to be a Wave W of larger correction but for now BankNifty is reversing and is giving a Buy Setup for a Target of around 18750 and 19100 with Stoploss just below the recent low around 17575.
Expecting a short term down-trend on Nifty given the dark cloud cover on the daily charts, and a move below the 20 day moving average on the hourly. I do not expect this to be a massive move towards the downside, but I expect to see the market probe some of the levels below 8200.
economic condition and next quarter results are not looking great. its good level to short at 8230-8370. SL 8300 Target 7900
Nifty may form a triangle on 120 mins chart. RSI as well as price are near supports suggesting a bounce. If it forms a triangle, risk-reward is very attractive here! As long as above 8050, view remains bullish targeting 8200+
Nifty has corrected around 50 to 61.8% Fib Levels for previous upmove. Once the Price Breaks out above 8110 Nifty gives a Buying Opportunity for the C wave up move towards 8400. I will be buying Nifty @ breakout above 8110 with stoploss below 7980 for Target of 8370/8400. If the price continues to go lower below 7920 and make new lows then the above analysis would...
Last week was a hectic schedule for the official presentation -so could not answer most the guys. Let us solve the puzzle. Excited to see the way it is developing- going above 8210- larger wave-(2) will continue & shall give us y-wave to finish this larger corrective sequence- wave-(2). The depth of the wave cannot be determined in current state & its shape but...
Nifty is making a Flag Pattern which is coming near the lower trendline with MACD Divergence.. I would expect the price to go higher from there which gives a potential buying opportunity.. If it break the Flag upper trendline line then My Markets are at the all time highs around 9120. However, if it continues to go lower then I would wait to see what pattern is...
Reason : Continuation of second leg as shown with arrow (first leg~measured move). Timeframe : Within a week
Nifty would go higher from current levels with first targets around 8775 and second targets around 8900.
CNX PSUBANK near a tough resistance which has given plenty of trouble in past. can it break this time ? above 3365 a convincing close may lead TGT 3393/3601 only above this psu bank may fire up.
Waves are fractal. That means the trade can only be taken by judging the waves in live market.
Reason : Continuation of second leg towards south. Time-frame: Two days.
Reason : Continuation of second wave in the direction of south. Time-frame : Two days.
Reason: Re-test of mid level of current down trend wave to shake out people. Timeframe: By 19th Monday.
Reason : Slight upside around 6915-35 then downward momentum to start triggering rapidly. Same condition throughout all global indexes. A bigger short move is ready to open its mouth. Timeframe : Little upside in 3-4 days. then shorts.