Stockmarketindia
EURCHF: ENDING DIAGONALTheory:
DIAGONAL:
Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory of the wave 1.
Properties Of Diagonals:
Diagonals can be contracting or expanding type being expanding diagonal a rare one.
In contracting type, wave 3 is shorter than wave 1, wave 5 is shorter than wave 3, and wave 4 is shorter than wave 2.
In expanding type, wave 3 is longer than wave 1, wave 5 is longer than wave 3, and wave 4 is longer than wave 2.
Types Of Diagonals:
LEADING DIAGONAL
ENDING DIAGONAL
LEADING DIAGONAL: In a leading diagonal , waves 1,3, and 5 are all impulsive in nature or all in corrective form of zigzags. Wave 2 and wave 4 are always present in a zigzag form. A leading diagonal suggests the starting of a new wave & that is why it can develop wave 1 of a impulse wave and a first wave of a zigzag pattern.
ENDING DIAGONAL : This is the most common diagonal that can be found out at the ending of a main trend or main correction. It consists of all the waves 1-2-3-4-5 in a single or multiple zigzags. They can be found placed at 5th wave of an impulse wave or can been seen as a wave ‘C’ of a corrective waves zigzags or flat.
After the termination of the diagonal , a swift & a sharp reversal takes place which bring the prices back to the level from where the diagonal has began. (generally it retrace back to the wave-2 of the diagonal sturcuture)
TRADING STRATEGY:
Buy EURCHF with SL of 0.955 and look for the upside target OF 0.9800
BEML: Inverse Head and Shoulder BreakoutInverse Head and Shoulders
This pattern forms after an extensive downside rally. It consists of a left shoulder, a head, and a right shoulder. The left shoulder is formed after a big bear rally in which the volumes are quite large.
At the end of the left shoulder, a minor correction takes place on the upside which happens on the low volumes comparatively the starting of the left shoulder. After this again a down move can be seen on large volumes forming a head having its bottom is below the left shoulder following an upmove correction on lower volumes & completing the head.
The completion of the head must be above the top of the left shoulder. If the prices rise above the top of the left shoulder then too this pattern remains intact. In the end, the right shoulder is formed usually on smaller volumes comparatively the previous two rallies.
Now if you connect the tops of the left shoulder, head & the right shoulder there will be a formation of the ‘Neckline‘. This line will act as a decision line. If the prices break this neckline & give closing above the line, this will be the confirmation of the breakout of the Inverse head and shoulders pattern.
However, it has been noticed that after breaking of the neckline the prices again attracted towards this neckline. We say this phenomenon as a retest of the neckline which will add some more confidence while trading this pattern.
After retesting if the prices again start rising, this will be the final confirmation of the up move as shown above.
The bookish target of this pattern is taken as the vertical price range from the bottom of the head to the neckline & the bookish Stop loss should be the bottom of the right shoulder. However this stop loss can be big, so it is advised to keep a stop loss of 4-5% of the price range below the neckline.
TRADING STRATEGY:
Buy near 1410-15 zone with SL of 1240 and look for the target of 1680-1700 zone.
STOVEKRAFT: Bullish OpportunityStock has come up with its first leg as an impulse. After that stock has gone into a considerable corrective price action. The current structure suggests that stock is ready to move up for another impulsive leg.
TRADING STRATEGY:
STOVEKRAFT: BUY ON CMP (583) SL: 540 TGT: 625/650
IRCTC: Case of ENDING DIAGONALTheory:
DIAGONAL:
Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory of the wave 1.
Properties Of Diagonals:
Diagonals can be contracting or expanding type being expanding diagonal a rare one.
In contracting type, wave 3 is shorter than wave 1, wave 5 is shorter than wave 3, and wave 4 is shorter than wave 2.
In expanding type, wave 3 is longer than wave 1, wave 5 is longer than wave 3, and wave 4 is longer than wave 2.
Types Of Diagonals:
LEADING DIAGONAL
ENDING DIAGONAL
LEADING DIAGONAL: In a leading diagonal , waves 1,3, and 5 are all impulsive in nature or all in corrective form of zigzags. Wave 2 and wave 4 are always present in a zigzag form. A leading diagonal suggests the starting of a new wave & that is why it can develop wave 1 of a impulse wave and a first wave of a zigzag pattern.
ENDING DIAGONAL : This is the most common diagonal that can be found out at the ending of a main trend or main correction. It consists of all the waves 1-2-3-4-5 in a single or multiple zigzags. They can be found placed at 5th wave of an impulse wave or can been seen as a wave ‘C’ of a corrective waves zigzags or flat.
After the termination of the diagonal , a swift & a sharp reversal takes place which bring the prices back to the level from where the diagonal has began. (generally it retrace back to the wave-2 of the diagonal sturcuture)
TRADING STRATEGY:
Buy IRCTC with SL of 557 and look for the upside targets of 700-710
#UnitedSpirits #Stockmarket United Spirits
Stock on daily chart, gave falling wedge breakout
and now trading at its Resistance zone & also at good fib level to break.
Safe buy above 835 levels for 3-5% positional targets
Also bet for 0.5-1% intraday targets
Keep SL at 800 levels on Closing basis
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Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
Use a strict trailing stop loss.
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#Paytm #One97 #StockmarketOne97 aka Paytm
Suggested earlier also at 560 levels and target achieved
Stock again forming an ascending triangle pattern.
Currently trading at its Resistance zone also, if break we can see good 8-10% upside move
Safe buy above 725/730 levels for positional targets of 775/800 to upto 850 levels also.
Also, keep booking partial 1-2% profits and use a strict trailing stop loss.
----
Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
Use a strict trailing stop loss.
Please Like & Follow
#StockMarket #ELGIELGI EQUIPMENT LTD
Stock on daily chart forms Cup & Handle pattern
Also good volume coming
Buy above 380/386 levels for positional targets of 420
Keep SL below 355
Once 420 level is breached and sustained above this levels, we can expect bigger targets (another 5-7%)
----
Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
Use a strict trailing stop loss.
Please Like & Follow
#StockMarket #SunpharmaSUN PHARMA
On hourly chart short term bet to above above immediate resistance level of 860
for targets of 870/875, keep SL of 850.
This is Risky quick trade very short term view, or can be trade Intraday.
In case of gap up and gap down please avoid setup.
----
Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
Use a strict trailing stop loss.
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#StockMarket #AdaniAdani Total Gas
On daily chart give Flag pattern breakout and tested its ATH levels.
keep on watchlist from this levels it may get correct few points and then again will move for another 7-8%.
Idea is positional and only carry position on day closing basis & also keep partial booking 1-2% profits and use a strict trailing stop loss.
----
Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
Use a strict trailing stop loss.
Please Like & Follow
#StockMarket #IcicibankICICI Bank
On daily chart form double bottom pattern exact at its strong support
Also is about to break its 10 month old trendline, at its resistance level
Safe buy above resistance zone 778/800 levels
For short term targets of 798 to 805 levels
Keep Trailing SL and also its good to partial booking 1-2% profits
In case of gap up and gap down avoid setup.
----
Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
Use a strict trailing stop loss.
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HUL: BREAKOUTStock has given a breakout of a triangular structure . One should go long on current levels maintaining the SL of 2300 and look for the target of 2675/2845 in the coming days.
#EMAMI #StockmarketEMAMI Ltd
Stock on daily and Weekly chart gives 11 months old trend line BO (but volume seems less)
And today retested its resistance levels
Could be a safe bet if buy above 475 levls (which is also 200EMA levels) and further add above 490 levels
for positionally 4-5% further upmove
Keep trailing SL to maximise profits
----
Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
Use a strict trailing stop loss.
Please Like & Follow
#JUBLFOO #Jubilantfood #Stockmarket Jubilant Foodworks
Stock on daily and hourly TF for a base and also inverted H&S pattern
Good be a good intraday bet to buy above 576/580 levels keep SL of 538
Use 5min chart for immediate Support and resistance and Trail SL accordingly to maximize profit
In case of gap up or gap down avoid setup
----
Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
Use a strict trailing stop loss.
Please Like & Follow
#ORIENTBI #Stockmarket Orient Bell Ltd
Stock On weekly Chart forms Cup & Handle Pattern and give breakout with good volume
Also on daily chart forms bullish H&S pattern.
Now stock will retrace after this BO.
Can be add at 650 levels at trendline support levels.
For positional targets of 870 to long term targets of 970.
----
Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
Use a strict trailing stop loss.
Please Like & Follow
#LTTS #Stockmarket LTTS
On weekly Chart stock seems to complete Harmonic pattern. And also at its support level.
Stock also showing bullish RSI Divergence.
Expected bounce from this area.
Above this Support line stock is bullish and below trendline its stock.
Stock can be add 10-20% at CMP and can be add further above 3100 levels for first targets of 3400-3450
TSL to be followed and partial booking strategy to be followed.
----
Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
Use a strict trailing stop loss.
Please Like & Follow
KAJARIA CERAMICS: A DOUBLE THREEFrom the highs of 1375 stock is declining making lower lows lower highs which suggests that stock is undergoing into a short term corrective downtrend. From ElliottWave perspective stock is forming a double three correction (WXY) of which wave-X is already concluded at 1093 and right now stock is unfolding its wave-Y which shall bring the prices towards 700-650 zone in the coming months.
TATA STEEL: Inverse H&SInverse Head and Shoulders
This pattern forms after an extensive downside rally. It consists of a left shoulder, a head, and a right shoulder. The left shoulder is formed after a big bear rally in which the volumes are quite large.
At the end of the left shoulder, a minor correction takes place on the upside which happens on the low volumes comparatively the starting of the left shoulder. After this again a down move can be seen on large volumes forming a head having its bottom is below the left shoulder following an upmove correction on lower volumes & completing the head.
The completion of the head must be above the top of the left shoulder. If the prices rise above the top of the left shoulder then too this pattern remains intact. In the end, the right shoulder is formed usually on smaller volumes comparatively the previous two rallies.
Now if you connect the tops of the left shoulder, head & the right shoulder there will be a formation of the ‘Neckline‘. This line will act as a decision line. If the prices break this neckline & give closing above the line, this will be the confirmation of the breakout of the Inverse head and shoulders pattern.
However, it has been noticed that after breaking of the neckline the prices again attracted towards this neckline. We say this phenomenon as a retest of the neckline which will add some more confidence while trading this pattern.
After retesting if the prices again start rising, this will be the final confirmation of the up move as shown above.
The bookish target of this pattern is taken as the vertical price range from the bottom of the head to the neckline & the bookish Stop loss should be the bottom of the right shoulder. However this stop loss can be big, so it is advised to keep a stop loss of 4-5% of the price range below the neckline.
TRADING STRATEGY:
Buy near 870 zone with SL of 830 and look for the target of 960-985 zone.
CHALET HOTELSChalethotel stock is rising in an uptrend forming higher highs and higher lows which is the basic definition of an uptrend. Stock has given a breakout on the weekly time frame and can be bought on cmp for the Tgt of zone of 380-400 in the coming weeks. Stop loss should be 290.
NIFTY: Bears are waitingThe current upmove is just a retracement going on of the previous fall. Bears will soon take the control over the index in coming weeks for more downside levels. The bottom is not done yet.
NIFTY50 next Breakout? comment your market predictionFor the last 6..7 days we see that the Market shows so abnormal behavior this why its near to impossible to predict the Market..but thank to technical analysis so..we able to analyze the future market.. ! check my Market Analysis
Nifty View In Daily Time Frame. NSE:NIFTY In the longer time frame of Nifty, i view above pattern formation. Currently we are on final Leg of Corrective C wave, Considering C wave as Impulsive & 5 wave pattern, we can consider as per the shared chart. As a beginner i have tried to share my best learnt, i would request professional's to ignore any wrong in view.
After #nifty50's Doji formation above 15183, if feel a complex corrective upmove till 15467-15497, then the trend continuation on downside.
