Wave Analysis
Tata steel- Wave Counts- Will it Fall to 300 ?Not a trading call. Purely for Educational Purpose. Consult Financial Advisor before taking any trades.
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Wave Analysis
Flat Correction (W X Y) - from the highs of 442 can be completed with one more downside leg or fall close to 300 levels.
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Last Wave Idea on Tata steel - 29th July 2020
BPCLIt is at the PRZ of a Bullish Harmonic AB=CD Pattern suggesting a bounce/reversal provided it holds 346. It's expected reversal levels are 390 & 405
AB=CD Harmonic Patterns are derived out of specific Fibonacci Ratios which form parallel running channels appearing in the shape of a thunderbolt.
TRADE SBI LIFE ON 5TH OCTIF GAP DOWN : IGNORE IF WEAK MOMENTUM , IF STRONG
STEP2;
LOOK FOR BREAKOUT CANDLE AND LOOK FOR R1 AND R2
IF GAP UP:
FOLLOW STEP 2
.
TAKE CALL ON YOUR OWN RISK
Reliance Industries Momentum ScenarioRIL is moving under an arch shaped resistance. And the green lines drawn shows that slope is decreasing after each big wave. And currently move is very much horizontal. One possible scenario could be that price can reach to highest level of arch at 2400.
Bullish Scenario: After reaching resistance to stay bullish attempts to break resistance could be possible and high volume breakout can be seen.
Bearish Scenario: Otherwise big rejection after failed attempt of breaking resistance is possible.
One more scenario is no RIL won't do any attempts to break it will slowly turn into downtrend. (If volume stays normal.)
After reaching 2400 high price can start falling drastically. (Only when volume is too much)
Economics Cycle | Business Cycle |The business cycle, also known as the economic cycle or trade cycle, is the downward and upward movement of gross domestic product around its long-term growth trend. The length of a business cycle is the period of time containing a single boom and contraction in sequence.
The economic cycle is the fluctuation of the economy between periods of expansion (growth) and contraction (recession). Factors such as gross domestic product (GDP), interest rates, total employment, and consumer spending, can help to determine the current stage of the economic cycle
FOLLOW & COMMENT & LIKE
RelianceThe orange trendline is impulsive wave which was shared earlier and exact reversal from 2168. The corrective wave then ended at 2267 which is again orange. On shorter timeframe (blue) is the impulse wave and if this is the corrective wave then 2214 low shall be the base for net upmove. If 2240 is breached then 2300++ coming orwise 2196 coming which will also kind of impulsive wave's 5th from 2267 and then a corrective wave can extend upto 2260.
Reliance Correction and Market GeometryThis is called Market Geometry. Reliance in correction mode. B retraces 50% of A and usually A=C or C is bigger than A by 161.8%.
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The investment advice provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
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Nifty- Wave 4 Done at 11305 (62% retraced)- Careful !!!For Educational Purpose
Do not consider this a trading call. Consult a financial advisor before executing any trades. "Risk Management" is the most important lesson -a trader has to learn before taking any trades.
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Wave Analysis Key Points for Nifty Index Moves
Last Price- 11254 / 10:28 Hrs / 29th Sep 2020
• The fall 11618 to 10790 – an impulsive fall
• Nifty retraced 62% (current bounce) of the fall from 11618 to 10790 which is 11305
• 62% level which comes at 11305 is the most important resistance level
• Keeping in mind 11300 –trader’s should decide their next course of action
• Chart representation ( such as "red arrow" marked downside is for author’s reference)
• Kindly do the due diligence before taking any trades
• Have a wonderful session ahead
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Second Last Idea -Nifty crack from 11620 to 11085
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Last Idea - Nifty bounce expected "holding above 11085"
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