Shark
Bullish Harmonic in UPLBullish shark formation in UPL at 15m TF.
Price reversed from just from the demand zone.
Bearish SharkTVC:GOLD
Potential PRZ 1816 - 1820 levels
Bearish Harmonic Shark Structure
If PRZ is broken, next upside momentum starts
NIFTY SHOWING NEGATIVE SIGNS! BEARISH SHARK PATTERNNifty opened the Muhurat session with a gap up of 100+ points but it must trade above 18000 for short-covering moves.
Near 17950-18000, there is a supply zone created by the shark pattern from where the price could take a dip or could take it by force to the upside for short-covering momentum.
Happy trading. :)
This is just for educational purposes.
SUPREME INDUSTRIES CAME OUT POSITIVE. TARGETSSupreme industries' results came out positive and the price is near the potential reversal zone of the XABCD bullish shark pattern.
The targets and the stop loss is mentioned on the chart.
Happy trading :)
This is just for educational purposes.
MARUTI SUZUKI PRICE ACTION ANALYSIS. LONG IDEAMaruti's price has fallen significantly recently. This pattern is perfect to be called a Shark pattern. After a second impulse, the correction went too deep and is expected to be reversed from the PRZ.
This is XABCD bullish shark pattern has extensions 0.886-1.13 which form the potential reversal zone (PRZ).
We can also a downtrend line is broken, but for confirmation wait until the price breaks the supply zone. Any rejection from the supply zone might throw the price near the demand zone.
Buying from a PRZ gives us a high risk-reward ratio. The stop loss and target levels are mentioned on the chart.
Happy trading :)
This is just for educational purposes.
GLENMARK LIFE SCIENCES PRICE ACTION ANALYSIS AND TARGETSGLS has broken out the previous swing high and is showing bullish signs.
Go long above 707 and put your stop loss at 659.
Targets are mentioned on the chart using XABCD bearish shark pattern.
Happy trading :)
This is just for educational purposes.
BPCL FELL 10%! WHERE TO BUY AGAIN? BPCL had an event today, where the dividend was issued. The dividend was 58 per share.
However, the stock price fell so much as 10% in a single day, and that too in pre-market minutes.
There will be a long unwinding as a consequence. If the price manages to stay below 445, it could come down to the demand zone which is also a PRZ of XABCD bearish shark pattern.
The levels are mentioned on the chart.
If the price rises past the 481 level, then the previous idea which I had published may work.
Happy trading :)
This is just for educational purposes.
TATA ELXSI'S BEST BUYING ZONE. BULLISH SHARK PATTERNTata Elxsi has outperformed its peers over the year. Everyone's looking for the right entry to buy the stock.
Now's the chance to buy the stock if at all it reaches the PRZ/demand zone mentioned on the chart.
The stock may exhibit the XABCD bullish shark pattern, which is completed only if the price reaches the mentioned demand zone.
Buy in the demand zone and place stoploss below the demand zone on the price closing on daily timeframe.
The targets are mentioned on the chart.
Happy trading :)
This is just for educational purposes.
Reliance Industries tests the demand zone before the results dayReliance Industries are out tomorrow. The stock has fallen more than 3% to test the potential reversal zone of the harmonic pattern XABCD or the demand zone.
As we can see, in the last hour price has bounced off the zone with good volumes. The price has to stay above this zone or else it could test 2500 or even lower by the long unwinding. If sustained above the zone, could even take out the ATH.
Shark patterns often come when the corrections are sudden and deep, which is perfectly suited in this case.
Maintain strict stoplosses though.
Happy trading :)
This is just for educational purposes.
ICICI BANK MAY HAVE A CORRECTION. RISING WEDGE PATTERNICICI bank's price has been forming a rising wedge pattern which has got broken today.
According to the height of the pole and XABCD bullish shark pattern, the target is set at 647.
The trade setup is to buy ICICI when it reaches 647 or short if there's a pullback to confirm the fall.
The stoploss here is to place at C according to both the patterns, which is not a good risk-reward ratio. So, try to buy when the price falls to 647.
Happy trading :)
This is just for educational purposes.
Learning PurposeLooks like Bullish Divergence . Also a Bullish Shark pattern spotted .
Not a trade recommendation not for Learning Purpose.
FINOTEX CHEMICAL PRICE ACTION ANALYSIS AND TARGETSFCL gave a multi-year breakout, buying on the dip is advised up to 106.
106 level is an important support level to hold.
The targets are mentioned on the chart. The XABCD bearish shark pattern gives the target of 218.
Stop-loss as per your risk appetite.
Happy trading :)
This is just for educational purposes.
XAUUSD BEARISH SHARK 1HAs per harmonic pattern hourly timeframe is showing bearish shark
trade idea is already shared with risk reward ratio of 1:2
best of luck
NIFTY PRICE ACTION ANALYSIS. SHORTNifty is currently trading at the potential reversal zone formed by the XABCD bearish Shark pattern.
If the marked trendline is broken after the price gets rejected from the PRZ, short Nifty and target zone would be the 0.5-0.618 fib retracement zone of CD swing.
The stop loss must be strictly followed, above this level ( 17266), shorts are going to be trapped.
The levels are mentioned on the chart.
Happy trading :)
This is just for educational purposes.
NIFTY REALTY BROKE OUT PAST ITS PREVIOUS SWING HIGH. Yesterday Nifty Realty rose 5% breaking out its past swing high. The targets are mentioned on the chart where the profit booking can be done.
Entry on a pullback will give better risk-reward but anyways if you are already in a long position better watch out for the target levels.
We shall discuss the underlying stocks which are showing similar behavior.
HUGE SHORT COVERING IN BANK NIFTY ABOVE 36100Bank nifty is at 36100. If the 36100 price barrier is taken out then a huge short covering could trigger the index's price.
Go long above 36100. Book profits at the supply zone. If the price breaks the supply zone, then aim for the 36450 price level.
Stoploss if the price closes below 35910.
Happy trading. :)
This is not an investment idea. Please consult your financial advisor before investing.
Britannia price action analysis. Time for a pull back?Britannia's stock price has fallen after it reached the potential reversal zone or supply formed by the XABCD bearish shark pattern.
The price took the correction until point C of the pattern which is an ideal ultimate target for the shorts who followed this pattern. Recently after the correction, it rose and broke out it volumes above the PRZ.
Considering RSI at 80 and the price at the major supply zone from where it had been rejected twice before, the price may come down to have a pull back test. If the price bounces off the PRZ or the supply zone, this PRZ/supply zone will become a strong demand zone.
On the other hand, breaking and sustaining below 3720 and the red trendline will confirm the downfall.
We can see a ABCD pattern, which has a fib price extension of 2 at 4042. Above this level the price may have a good long rally.
If price tests the prz and bounces off, then go long above 3720 or 3815. You could 6-10% rise until 4042. if the price sustains above 4042 add more qty and have trailing stoploss. Strict stoploss at 3720.
A fall up to 3650 could come below 3720.
Happy trading :)
This is not investment advice. Please consult your financial advisor before investing.
AMC price action analysisAMC's stock price corrected drastically after reaching all-time highs.
The bearish shark pattern correction seems to be completed and the hurdle is to break the trendline with huge volumes bouncing off of the demand zone.
The idea is neutral because there is a chance for collapse also. The breakdown below the demand zone completes descending triangle pattern. For the short covering move, it must cross and sustain the 48 price mark.
Patience is the key here. Wait for the confirmations to go long or short. For both long and short positions, targets are mentioned on the chart. Consider exiting at cost.
Happy trading.
This is not investment advice, Please consult your financial advisor before consulting.
Long bank nifty above 35430Bank nifty shows bullish run if it sustains above 35430. The first target area will be the supply zone and on breaking out the supply zone, trail profits until 36100.
Be absolutely sure of level 35430 and wait for the pullback before proceeding. Price above this sets the target as point D of bearish shark pattern XABCD.
Stoploss is placed on the previous swing high in 5 min timeframe.
Happy trading :)
This is not investment advice.
CAN SMALL CAPS RECOVER FROM THE RECENT FALL? A GO-LONG IDEA. Small caps 100 index has fallen nearly 11% reaching a decisive point in its fall. The price is currently resting on or near the daily timeframe's uptrend line (support).
The RSI is also at 30.14, which indicates a over sold signal and we may see a bounce very soon. The potential reversal zone formed by ABCD pattern's 1.618 and 2 fib extension acts as a demand zone for the small caps 100 index.
Here are the 3 scenarios that could develop,
1) The index may take support from the trendline and go up. Sustaining this trendline could take it to, point B and maybe further until point D. This could shape up into a bearish shark pattern.
2) The index may break the trendline and consolidate in the demand zone. Breaking the the demand zone and passing the pullback test would trigger a massive downfall up to 8600.
3) The index may break the trendline and take support from the demand zone and rise again above the trendline. The point B would be the profit booking point for longs.
Summary:
Check the price action for some time, if the trendline breaks then wait for it to consolidate in the demand zone and rise or fall eventually. If it sustains above the trendline, you can expect the index to rise 6-12%.
The main levels for profit booking are 10300 and 10800. Strict stoploss at 9660.
As the pattern develops, we can analyze the index back again for any change in levels.
Thank you.
This is not invest advice, please consult your financial advisor before investing.
Banknifty - Caution to LongsBanknifty has given a deep shark harmonic reversal. However, the speed of movement in the last leg was strong, hence shorting is not advisable.
Hedging or unwinding longs can be done.
A test of gap near 35300 can happen in next couple of days.
Disclaimer: All investments and trading in the stock market involve risk. Any decisions to place trades in the financial markets, including trading in stock or options or other financial instruments is a personal decision that should only be made after thorough research, including a personal risk and financial assessment and the engagement of professional assistance to the extent you believe necessary. The trading strategies or related information mentioned in this article is for informational / educational purposes only.
