The 200 MA at 11130.
A "Consequence zone" of all 3 fib. retracement at 11502 nearby.
From the Fib. Retracement(i) and (ii), we detected 3rd Fib. Retracemet at 11200. (This is expected bottom OR revesal level).
Point 1) Look at Fib. Retracement (ii) at start point which is exact at 61.8% of Fib. Retracement.
Point 2) Now, loot at the Fib. Retracement (iii)...
I will update BANKNITFY shortly.
As per technically, till there is not much positiveness on nifty nor in banknifty.
NOTE: For Live ALERT, Kindly hit LIKE button.
NIFTY is following as per my chart. please check below post also.
Wait for Tail to trade. There're two channels, one is yellow which closed and another channel till final wave remain. A (5) wave projection is plotted on the chart with considering control price and no trade activities area.
I have also used the timeCycle but did not add it here cause of complexity.
Support as Value...
As per my Theory, 5th wave always give you fired move as seen past. You can also check perfection on BANKNIFTY too.
Tomorrow morning, I will update you what is going next?
If this is an excess of channel, then target is 11650 nearby and Resistance 11666.
--> Let me remind you.
On the date, Jul 12 2019 Channel first drawed by me....
Resistance(30840 nearby) avlaible from two factors,
1 "Control Price" of main channel.
2 (3) wave count of channel.
In moreover I plotted 5 small channel the l into main channel. The 5th channel is absolutely differet from all other channels which is shown with yellow color. There is still more in small 4 channels of trend is up while 5th Channel is a flat...
I visualized your clearly yesterday (5)wave as a target from Major Channel if you don't forget it.
Overlapping, and (5th) leg both are a sign of the big move. We can analyze the correct direct due to the live market from a higher timeFrame. I will update here direction and...
NIFTY HAS BEEN FOLLWOING AN UPTREND SINCE MARCH-2009 with Lows touching the trendline on Feb'2016 and Oct'2018. Interestingly a Round Top is formed since Oct' 2017 with a flat bottom @ 9967 and the highest TOP @ 12040. If Nifty has to continue Upward then it has to break its latest highest top with a heavy margin else the doubt continues.
Channel (i) and Channel (ii) was represented at support or at value low. Axis bank created an excess in both channels which good opportunity to buy 741 nearby with stop loss of 730 below of candle closing base. Target is 766 nearby at control price.
TimeCycle (2) is also going to positive.
If there is not anything -ve on this stock, Support will be compelling...
Banknifty also difficult to understand as wave movements.
Price is near the channel support.
Smaller positive new can boost banknifty to upward from the value low.
While nifty is weak and Banknifty is positive which indicate the direction is not clear and market waiting for news.
Infratel Buy Near 261-263 Stoploss 255 Target 270
Reasons for trade- 1. Strong Bullish Candlestick Pattern on Daily CHart
2.Price is near to important Weekly Support
3. Price has taken support from 15 minute channel Support.
4.After Pullback Trade Risk Reward Ratio will be 1:1.5
Price is trading at a "value high".
Suppose to extend price rotation as drawn in the chart then Spike is ready.
The 30min can close above 148.7 then, 90% chance to make spike for targets 151.5 and 152.25.
While Spike volume should more than average volume, for instance, 2x volume will confirm the spike.
Support at 147
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