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Auropharma-You don't Know-Fall@792 Wish you Happy Holi & May this festival bring lots of colors in your life!!! Education & Trading Idea Wedge Wedges are a multiple price wave reversal pattern. Wedges form when the waves of an asset move within a narrowing range, angled either up or down. When the pattern completes, and the price breaks out of wedge, it is usually in the opposite direction the wedge was pointed. This is why it is called a reversal pattern. Books on Harmonics Harmonic Trading Volume 1 & Volume 2 - Scott Carney --------------------------------------------------------------------------------------------------------------------------------------------- Trading Strategy ( All Analysis Done on Spot/cash data - Kindly Adjust Futures Data Accordingly) Plan A - Holding 770 lows - Traders can look to buy with strict stops below 770's. Can Expect Upside Push to 793-797 zone as upside target Plan B - Selling Later from 793-797 zone with strict stops above 805 (800 is key reversal level - 805 is critical reversal level) ------------------------------------------------------------------------------------------------------------------------------------------- Note - Safe Trader - Don't Take Sell as per plan B if it moves above 800 level Risky Trader - Can remain in Sell as per plan B as critical level is 805 This Idea gets invalidated once price moves above 805 level Thanks for watching the video.
NSE:AUROPHARMA
by WaveTalks
22
Nifty – Topped out ?After making a high around 11080 levels on Thursday, Nifty NSE:NIFTY witnessed heavy selling pressure and could not hold on to 11000 levels. I can see an Evening Star like formation here with a large Bearish candle. Sold 11100 calls in the morning as soon as it broke 11000. There are multiple supports around 10900 and 10700 levels. However, I think call writers are safe so long as Nifty stays below 11000 levels. (Can think of exit if it bounces back and sustains above 11000) Good opportunity to go short here with a small stop loss. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:NIFTYShort
by nano6yogesh
TCS - Topped out ?As mentioned in a previous idea on Nifty IT, the index appears to have topped out around 14300 levels and is slowly moving towards 13450. I think many IT stocks like TCS NSE:TCS have also formed an intermediary top, looking at the large Bearish Candle and classic Evening Star reversal pattern that it formed today. Good opportunity to go short at these levels with a small stop loss for a first target of 1807. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:TCSShort
by nano6yogesh
Sun TV – Time to book profits ?Profit booking seems to have commenced in Sun TV NSE:SUNTV after good Q4 results. Also, I can see that it has retraced 61.8% of its previous fall from ~ 1100 levels before starting a downward journey. Looks like a good shorting opportunity to me with stop loss a few points above 1000 and first target near the 903-915 zone. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:SUNTVShort
by nano6yogesh
JSW Steel - Topped out ?JSW Steel NSE:JSWSTEEL has been very strong and came out with a good set of numbers. However, it has been struggling around 333 since many days. Now that the result is out, profit booking seems to have started kicking in. I can see a divergence here with a large bearish engulfing candle that it formed today. Good opportunity to go short with a stop loss around 345 for a target of around 306. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:JSWSTEELShort
by nano6yogesh
KPIT – Topped out?IT Index NSE:CNXIT has been moving sideways for past few days. With election results also out, there is hardly any indication that the correction in IT is over. KPIT has been struggling around 265 levels. I can see a Negative Divergence and a couple of bearish candles around the top. Looking for shorting opportunities in this stock with a stop loss near 270 and first target around 235 levels. (However, keep an eye on the result to be declared on May 23) Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
KShort
by nano6yogesh
ICICIBank – End of Countertrend?Nifty and Banknifty have formed a shooting star pattern today after Karnataka Election Results which may indicate trend reversal. I am looking for shorting opportunities in relatively weak private sector banks like ICICI NSE:ICICIBANK and Axis NSE:AXISBANK who came up with bad results but have gone up significantly. Here I see a Bearish candle around 50% Fibonacci Retracement level (Countertrend) of the downtrend which began on Jan 29. I think there is a high probability that the stock me test 293 levels again to fill the gap it left earlier on May 8. Took short position in ICICI Bank with stop loss a few points above today’s high for first target of around 275. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:ICICIBANKShort
by nano6yogesh
Divis Lab – Top in place ? NSE:DIVISLAB This stock is very volatile and has had a couple of wild runs ... (so one needs to be careful.) The stock has also completely recovered from its February lows and made a higher high. However, I can see a divergence here with an evening star pattern at the top. Good shorting opportunity here with Stop loss of a few points above the recent highs and first target at around 1120 levels. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:DIVISLABShort
by nano6yogesh
IndusInd Bank – In Consolidation mode?IndusInd bank NSE:INDUSINDBK has been struggling at 1900 levels for past few days and looks like Bulls seem to be exhausted, unable to get it past this crucial resistance. With Nifty Private Bank Index also closing at a crucial level today, a big movement from here seems inevitable. I can see a Negative Divergence on Daily chart with price consolidating near the 1900 levels. Took short position with a small stop loss around 1910 and target around 1800 levels. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Adviser for any investments.
NSE:INDUSINDBKShort
by nano6yogesh
Jubilant Foodworks - Time for Profit Booking ?Jubilant Foodworks NSE:JUBLFOOD has had a massive rally since June last year and came up with a strong set of numbers 2 days ago. However, it is still going down which is a sign that the stock has run up too far and now Investors have started booking profits. With a Negative Divergence and a Bearish Engulfing candle at the top, the stock presents a nice opportunity to go short !! Took short position here with a stop loss of around 2690 and first target at around 2300 levels.
NSE:JUBLFOODShort
by nano6yogesh