As mentioned in the chart, the 5th wave is upward, which is progress and expected u-turn 247 and 268 for next level 220/202 to move.
Zoom In to verify the range of the channel. Upper Band Poten tial Reversal Zone (PRZ) - 13003 to 13088 Parallel Channel's Resistance zone. The "Control Price" will attract value towards it. Previous work on the Same channel:
Fib. Retracement start from 12441.75 to 7495.00 end for determing the nearest important fib ratio is 1.13 which is 13084 . 1.618 AB = CD at 10620
Wave are going to be broad therefore, expecting 4rth wave expanding triangle. Very soon, I will give you clear number on it.
Quick reversals from Bat pattern PRZs are quite common. The mid-point "B" at exactly 50% retracement. Alternate 1.27AB=CD pattern. BC projection @61.8%. The price quickly reversal seen after "D". Question of Harmonic Trader/Analyst is , Bat Or Gartley? Why did birth to this question? - The Gartley Pattern required point "B "50% and 1.27AB=CD ...
In this research, I have relable on the Nifty and plotted Ending Diagonal . This is my recent post and nifty triggered expected target 11900.
Value High is good to sell this stock 1372 below for targets 1287(Control Price 2) and Weekly chart 1210. Target 1210 if the price sustain below 1360 As per the weekly chart, Buy INDIGO for targets 1480 nearby only if price close 1350 + Param ount Underline is st ronger resistance and price can fall that why don't you suggest trade heavy volume.
Normally I don't prefer to trade with a heavy position at 5th wave especially, whenever 3rd wave is extended. In this case, we're moving toward forming 5th Wave. I have already predicted 5wave of A, B, and C by using future expected retracement.
reliance is always making triangle pattern near trend line
BUT SIDE IF RESISTANCE TREND LINE BREAK THAN BUY ON 338 SL IS 328 TARGET MUST BE 1ST 360 2ND 380 FINAL TARGET 405 IF SUPPORT TREND LINE BREAK THAN SELL ON 328-325 SL IS 338 TARGET MUST BE 1ST 308 FINAL TARGET 296
There is flat top bottom pattern formation and On the hourly chart stock formed bearish divergence and on the daily chart stock resistance faces in down trend line. So I'm very confident for taking this trade.
During the time of election nifty will be highly volatile . If it break support then can test second support and vice versa. Don't hold your trade . Only do intraday trading . Capital protection is trader main aim. Happy Trading.
Disclaimer :- this is a educational call don't trade and invest in my recommendation. buy tata motors every down tick, next thing you can invest in it till it is hinged above 190 buying range is 200 - 210 , take a stop loss around 190 , target @ 275 for 3 months prospective Disclosure :- I have invested at 175 level in this...
don't trade this post is educational purpose.