Most probably wave (A) of 4 is completed at 10637 and from 10637 may be complex wave B is running. After completion of wave B decline of 1500-1800 points is possible as wave C of 4. If nifty trades above 12146 then we should think of another possibility.
Bearish ABCD Pattern Rules
Point A is a significant low
Point B is a significant high
In the move from A up to B there can be no lows below point A, and no highs above point B
If AB, then find BC
Point C must be higher than point A
In the move from B down to C there can be no highs above point B, and no lows below point C
Point C will ideally be 61.8% or...
THIS IS A VIEW ON NIFTY INDEX NOT A SUGGESTED TRADE
SINCE I DON'T TRADE WITH MONTHLY POSITIONS
!!CAUTION!! IN NIFTY INDEX
-AS WE SEE THERE IS A CLEAR DIVERGENCE IN NIFTY INDEX ON MONTHLY CHART
-MOMENTUM INDICATORS ARE LOSING MOMENTUM
-CLEAR "DIVERGENCE" IS VISIBLE ON THE INDEX MONTHLY CHART
-WE HAVE CLEARLY HIT RESISTANCE ON WEEKLY CHART...
The movement of Nifty was directionless this week. From last three weeks Nifty has kept traders on the edge and has been teasing both buyers and sellers. We can see a tri star doji formation on the weekly charts at resistance, tough doji does not mean outright sell, it depicts chaos and confusion. We should not discount the fact that the trend is up and yet no...
ghstocktrading.webnode.comNIFTY 50: WEEK-TECH-SHEET-> 18th November 2019 to 22nd November2019
Nifty 50 moves around -171.00 pips from 18th November 2019 to 22nd November2019, in which nifty 50 break last week 11th November 2019 to 15th November2019 top 11973.65.
AS YOU CAN SEE IT HAS TAKEN SUPPORT ON LOWER TREND LINE IF THIS SUPPORT IS INTACT GO LONG WITH TARGETS 11930 AND THEN 12066.65 AND IF LOWER TREND LINE BROKEN ON CLOSING BASIS THEN GO SHORT WITH TARGETS 11803 AND 11693 GOO LUCK
NOTE: TRADE AT YOUR OWN RISK
Indecisive street holds the major indices in a tight range for the week, looking for further cues it is still unclear which direction it would resume going forward. Nifty and Nifty bank respecting our supply zones of 12016 and 30641 respectively as mentioned in the last report.
Nifty continuing to be in uptrend holds a key supply zone of 12016 with a stop loss...
After, making a Cup and Handle Pattern nifty is trying to consolidate to at nearly support range. Can be considered as an opportunity to buy on every dips with following levels:
Buying Range: 11850-11900
Tg Range: 12110-12250
for coming days.
Strong resistance seen around R1 31002-31069 & R2 31635-31749.
BN @31115 which is R1 zone ...breaking the levels can move towards R2
use the levels to short with strict stops
Respect risk....Happy Trading
HDFC LIFE: The trend has been dominant up, the stock has doubled in just eight months time. During thr the last couple of weeks, the stock has been into correction. Now taking rest at the kumo. The RSI is also bouncing from the bullish oversold extreme. MACD is into bullish zone, prices are trading below the ks line, a move above the KS line will re establish...