As per limited study April and May should reward bears.
Inittial signs of DJIA topping out is seen with my Time and Price study.
Rest market is supreme.
SL above 39889 (Weekly closing basis)
Downside 3000+ points positionally.
Attached: PIIND Daily Live Market Chart 26th April 2023
SELF EXPLANATORY:
Lower Highs and Lower Lows
Head & Shoulder TOP with Necklines
Targets marked as well
SELL at Current Market Price
Note: Had a Long View of PIIND before but now it is a Flip from Long to Short
Attached: Cummins Daily Live Market Chart as of 13th April 2023
Price has put in a Clean Head & Shoulder TOP Pattern and the Breakdown & Retest of this Pattern is also done
Currently Price is Moving Down to meet its 2 Targets
Downside Targets:
T1= Gap Fill Area @ 1475
T2= 1360
As long as Price holds below the 20 Day SMA (1615 presently), this Stock is a SELL......
Trading Setup:
A Trading Signal is seen in the TOPUSDT TOPNetwork
Traders can open their Buy Trades NOW
⬆️Buy now or Buy on 0.000205
⭕️SL @ 0.000148
🔵TP1 @ 0.000415
🔵TP2 @ 0.000716
🔵TP3 @ 0.001000
What are these signals based on?
Classical Technical Analysis
Price Action Candlesticks Fibonacci
RSI, Moving Average , Ichimoku , Bollinger Bands
Risk Warning...
Attached: Hourly Chart
A Clear Cut Distribution Pattern is visible for Bajaj Finance. This Pattern is called the Head & Shoulders Top Pattern and is a Trend Reversal Pattern.
In this case, there is a BEARISH Implication
One can Short at CMP
Stop Loss above 7380
Downside Target open to 6900- 6800
Stay Safe
And Happy Trading!
If you like my work, then check...
BEARS to Attack SRTRANSFIN!
A Head & Shoulder Top Pattern is visible
+
EW count says 1 of (C) done as the 'v waves' marked
2 of (C) done as rise from 23rd August Low is overlapping
Now 3 of (C) down should start
CMP= 1324
TARGETS:
T1= 1260
T2= 1235
STOP LOSS > 1400
This is How I try to learn to catch Tops and bottom, Market is like an "Infinite Sea"- full of earnings & looses.. but beauty of this sea is that it behaves in a systematic manner like a nature which is very well explained in Elliot Wave theory and Neo Wave theory .
A good entry and exit always gives u maximum return and vice versa for that u really need to...
With some reverse trend "engineering" and one other tool based on market structure and analysis I think we will local top or ATH at the 74706 level inside a box (cant be too accurate). Time will tell if i'm right or not. ~Magic
Nifty on Friday has seen a narrow range top with spot Nifty making an all time high.
However, volume seems to be drying up.
Does this mean SM have stopped trading and only amateurs have taken positions?
Can this be a false upside break of the wedge forming?
I remember the instance mentioned in Tom William's book Master the Markets looking at this instance....
🔰 MY thought process :
⭐A broadening pattern on the Daily chart :) meeting with fibo extension giving a perfect round number of 1300 which seems to be achievable but in a while, kinda positional setup for me :)
🔰Am I taking this trade now: No---Reason: Already in the trades of Naukri and PPL as posted last time :) also took a small position in Coal India today...
Strength of the upmove is slowly decreasing.
A short term top is near, or already made at 31000.
Downward Correction possible before it resumes its uptrend again.
Reasons to go Short on Nifty:
- Rising Channel/ Rising Wedge/ Ending Diagonal Pattern (call it whatever) has formed on Nifty 4Hr Chart
- Triple RSI Bearish Divergence + MACD Divergence
- Today we saw a Steep Sell off (Wide Range Bear Candles)
- Market breadth has shifted in favour of declines to 1:2; it was at 6:1 during the opening today
- On Nifty's Daily...
IOC is looking weak, in terms of price and volume correlation. It was consolidating in a range and then gave a break out of the range on 19th August. The volumes, then, were above the 100 DMA, suggesting some sort of strength from the buyers. After that breakout, price did continue to move higher, and volumes did expand as the price moved higher. But in the last...
