Nifty - Heavyweight Reliance Cracks 7% - Will Nifty Crack Next?Last - 11635/b]
Heavyweight Reliance Cracks 7% (2065 to 1897) on disappointing results as discussed in overnight idea @ 1st Nov2020 & the personality confirms that stock could be in wave-3 or wave-C which was warned earlier that below 2000 - stock can have trouble.
------------------------------------------------------------------------------------------------------------------------------
Most of the stocks discussed has witnessed good intraday fall
-------------------------------------------------------------------------------------------
Tata steel - Fall from 411/413 zone to 400
Auropharma - running close to 750's
ITC - Falling in desired direction of 157 with key support 165-167 zone
USDINR- Halting close to 74.50 key level
-----------------------------------------------------------------------------------------------------------------------------
Idea Published @ 1stNov2020
----------------------------------------------------------------------------------------------------------------------------
Will Nifty Crack Next ?
---------------------------------------------
Moves are choppy & possible new upside can be expected only above 11700 & later should cross 11745/11750 key levels. Failing to cross key levels, index can slip to 11550 / 11380-11420 zone
Target 1- 11550
Target 2 - 11380-11420
Parallel channel drawn from lows of 7511 connecting 10790 (discussed in last night video idea) -extended upside can offer support in 11380-11420 with minor support close to 11550 level.
Thanks
Wavetheory
Auropharma- B-Wave Shift Can Cause Havoc- Part 2Short Term Trading Plan
Last Price- 819.40
Short Term Buy Above 820 (Strictly follow the levels) for 835-840
If crosses above 840 / 845 zone then extends upside to 855 / 870 -
Long Term Trading Plan
Careful at the tops as fall may start later for downside target 735 & even lower in Larger Degree -Wave C
--------------------------------------------------------------------------------------------------------------------
B-Wave Extended to 968 Highs & Drop Started
Tata steel- Wave Counts- Will it Fall to 300 ?Not a trading call. Purely for Educational Purpose. Consult Financial Advisor before taking any trades.
----------------------------------------------------------------------------------------------------------------------------
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.
-----------------------------------------------------------------------------------------------------------------------------
Last Wave Idea on Tata steel - 29th July 2020
Gold- Triangle Scenario Evolving As Ending Diagonal- Wave YNot a trading call
Disclaimer
-----------------------------
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
------------------------------------------------------------------------------------------------------------------------------
Note - For Educational purpose only
------------------------------------------------------------------------------------------------------------------------------
Market Commentary
Last Idea - Suggested It could be a triangle unfolding - Gold did best holding 50500 levels (approx) with +/- 250 points & attempting 52000 levels. "if gold holded 50500 levels then triangle scenario was still open but breaking below 50500 level- triangle scenario was negated"
Later breaking 50500 levels after making high @ 52182 - now it can possibly unfold as an ending diagonal which again suggest that making a new low below 49250 - it can attempt all-time new high or similar high @ 56191
Short Term - Downside Trend - one more fall expected below 49250 holding below 50350
Long Term - Upside Bias & One more high cannot be negated. Once New low is achieved as per short term trend- close to 49000- we can expect new all times or similar high @ 56191
SUNPHARMA Long Term buy Trade;
Upward Impulse complete and now correction is forming;
Wave A of the downward Impulse is complete and Wave B is a Upward Flat Correction where Wave A and B are complete and now Wave C which is
5 Wave Upward Impulse is forming;
We need to wait for the Price to come in the Demand properly;
Provided the path of the Price
Nifty-10300 to 10550-An Awesome Run Upside- Is It Done & Out ?Disclaimer
-----------------------------
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
------------------------------------------------------------------------------------------------------------------------------
The Last Nifty Idea - Buy Above 10300 for 10550
-------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
A Question which you need to ask yourself - This Time I am not giving any direction. You need to suggest what you think about Index with your own charts.
Pour in your answers with awesome charts. Let us have a constructive talk.
-----------------------------------------------------
My TradingView Profile Page
----------------------------------------------------
in.tradingview.com
--------------------------------------------------------------------------------------------------------------------
Cheers & Best Wishes
Nifty - D-Street or Damaged Street-520 Points Fall-Elliott WavesTrading Strategy
Safe Traders
Buy above 11585 for Targets
11625/Above 11650 for 11775-11800 / Above 11800 for 11980-12000 / Above 12000 for 12100-12200
Risky Traders
Look to buy in 11480-11510 zone with strict stops below 11460 for above mentioned targets as suggested for safe traders.
---------------------------------------------------------------------------------------------------------------------------------------------
Last Video Idea
---------------------------------------------------------------------------------------------------------------------------------------------
Budget 2019 Idea - H & S Pattern Failure at 11625
Nifty 50, Elliot Wave AnalysisHi Guys,
Nifty is entering in the very crucial range(10900-11200), and how it going to behave in this consolidation range is going to plot the further trace about it. But as of now, there is a clear wave pattern formation is visible on the charts correction is still pending according to Elliot Wave theory, whether it is for the 10-year long bull run(Target around 8000) or the 2-year long bull run(target around 9200), Market can't be like just go on in simply one direction. So here is the tricky part, as long as most of the people are not convinced that it is still a bull market(nowadays people are much more concern about the market crash) it won't crash.
So as long as it doesn't cross 11200, 9200 is still on the table. and from here risk-reward is also much favorable.
These are only my thoughts, not financial advice. Though I am certified for that.
Will love to hear your thoughts.
IDEA Correction Potentially Completed.. Buying Opportunity!!IDEA has been correcting since a long time and looks like the correction is Potentially Over.. I am taking an Early Action on it with a small stoploss around 63 levels and Targets around 120. There is Bullish MACD Divergence on the chart and the last candle is bullish one to give some support for the prediction.
Happy Trading!!
ABAN - New Impulse Wave (Go Long) It is been observed that the price action trending up on daily chart and recently breaks out of downward correction channel on daily chart. Today, Nifty corrected on a big move but the price action in this doesn't change. Bulls are in control and dominance in current scenario. It has completed 8 Waves cycle and now moving onto a new impulse wave. It is a good time to get long in this one.
Target: 268
Stoploss: 220
Tata Power Breakout to New Impulse Wave It is been observed that the price action is trending up by making higher highs and higher lows. Previously, at high of 77 levels price action consolidates and corrects within a downward trendline and then breakout the trendline and then broke out to a new highs with that impulsive wave. Now it is again breakout from the downward trendline and looking to reach for previous high levels of 80.
Target: 80
Stoploss: 74.50
Jain Irrigation - Wave 5 completed, Now in Corrective Phase As per the price action, it seems like 5 impulse waves are completed within the up-trend channel and now it will move further in corrective phase where 3 waves will continue rallying downward against the trend. The three corrective waves would name A B C. I have marked only Wave A in the above chart.