Marked swing Points, trend lines and Fibonacci level can be used for trading along with some momentum indicators. Try to lookout for confluence of these parameters, don't trade solely using any one of these parameters. P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal. Invest your capital at your own risk.
Nifty is currently standing at a junction of 2 crucial support trendlines. If this support is breached, there is going to be a total carnage on the Dalal Street with Nifty heading towards 9500 to 9900 levels in 2 months time frame. Every bounce back is a chance for the investors to exit for a cautious move.
Today JKTYRE confirmed resistance break. MACD is supporting break most likely upside will start from here. Enjoy
Arvind is giving a potential short setup on daily chart with Wave B up move completing at 61.8% fib levels and Wave C correction starting now going around the targets of 300.
AuroPharama is giving a Potential Short setup for Wave C down for ABC correction. One can short at current levels with stoploss just above 731 and Target around 670.
ASAL has undergone break in resistance, potential upside looks good, risk is less.
Zuari Global broke resistance, retraced and resumed upside. Since it was not already in uptrend the upside should be considered as weak for time it confirms itself as strong. Minimum TGT of 112 is expected with trailing SL starting from 98.
A double bottom is formed on Adani Ports which looks like is breaking today. A successful break will lead to good upside
IGL is moving up with strong upside, most likely it'll touch minimum TGT of 960
There is clean resistance Break on MCLEODRUSS along with divergence. A good upside can be expected ahead.
On monthly chart there is good breakout on Atlas. Looks like it is ready for long term investment. Conservative TGT can be assumed as 622 but trailing SL is recommended
ApolloTyre is giving a Buy Setup for Wave C rally towards 210 levels.. Stoploss can be around 179. Should be a nice risk reward trade.
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...
Axisbank is forming an Ending Diagonal which is also complete.. I would be buying Axisbank at current levels for Target of 550 and above and stoploss around 420 levels..
DHP India has been consolidating since the previous post about this (links attached). However, it seems poised for a breakout now leading to a move above it's all time highs. The SL remains unchanged.
Bharat Electronics has completed an A-B-C flat correction (refer to the link attached of previous post on BEL) and is headed for all time highs. If you missed the first long opportunity, then can enter again.
Copper is a buying opportunity upon 50 to 61.8% fib retracement levels around 2.085 levels with stoploss just below 2.06 for targets of 2.15 / 2.20. This could turn out to be a correction or the start of a new rally.. Price action would give more details. Happy Trading!!
JustDial's correction is potentially completed which also retested the breakout trendline around 78.6% fibs. One can go long on the stock at current levels with Potential Start of 3rd Wave Rally which would take the stock higher and at a faster pace. Short terms targets are around 750 and longer term targets are around 1000 levels and more. Details are on the...