Larsen & Toubro 3 Drive SHORTThe stock is nicely formed 3 Drive pattern so it may bring halt to the ongoing uptrend. Today's Bearish Engulfing and RSI reading are also confirming the short trade. One can short the stock with appropriate Stop Loss.
Reversal
M&M Fin - Bearish Wolfe WaveBearish Wolfe Wave formation on daily chart. It may make reverse either from current levels of from 332. Look for selling opportunity on bounce. View will negate above 340.50 And expected target is 270 - 265.
Nifty Weekly Outlook - BearishHello Traders,
We hope everyone had a profitable week. Here is our view on Nifty weekly chart. In last two weeks, Nifty re-tested the strong resistance levels but failed to close above it which indicates the another rejection. Additionally, Nifty has also formed double top pattern which also indicates the price reversal. Moreover, RSI indicator is also showing negative divergence. Considering all these aspects, we feel that in coming weeks, we may see weakness and bearishness in Nifty.
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Have a great weekend.
Happy Trading!!!
REC Rectangle Top Reversal Simple classical Channel short trade is possible. Stop Loss above the high made recently and target is open depending upon the patience of the trader however the target of Fib .618 to .786. level seems to reach quite easily.
RSI and MACD divergence is visible on Nifty daily chartRSI and MACD divergence is visible on Nifty daily chart Does it mean there is trend reversal ? Any other technical indicator supporting this?
Wolfe Wave Long ITCPattern is formed clearly so one can take advantage of it. Pattern target is around 232.
Rectangle Bottom Reversal LongClearly formed pattern with alternate touches both sides. The stock is showing strength although market is in bear grip. One can expect the price in the range of 1110 - 1145.
Wolfe Wave Long Bank Nifty has formed a Wolfe Wave therefore one can watch the price movement and enter long. Since the index is in downtrend and is at a very good support level breaking it could drag the price further low so it is advisable to trade it with caution and stop loss.
NIFTY WARMING UP FOR RECORD HIGHThis time Nifty is going to take immense time to get settle for fresh rally to
break the Resistance of 9000 Points ( Failed to Break 2 times in Past) .
So investors have excellent opportunity to take a position in the
Range of 8300-8150.
MARUTI DAILY MARUTI now at rising TL Support break down below 5790 can take it till 5650-5600 zone
Having strong resistance at 5960-5975 (Double Top in lower TF)
After a weak monthly sales number look good to short below TL or at 5870 zone
Harmonic 3 Drives pattern formed and seems working NIFTYNifty has formed the 3 drives pattern and try to reverse from this short time downtrend movement. Symmetry is the key to this pattern. Let's see how it works in coming days.
Channel Reversal pattern at the bottom IDFCBANK LongThe stock has formed a channel at the bottom and gave the breakout so a trend reversal long trade is available at good risk to reward ratio.
SBI : Time to Time, Taming the Bulls !Probably, SBI chart is self-explanatory, if you need any specific explanation leave a comment below.
Happy Trading !
