4b26c1ffaa69429f8af568711df78c

4b26c1ffaa69429f8af568711df78c

A Head and Shoulders pattern has been formed, with a break below the neckline, as seen in this line chart in the 15min TF. This is also part of a Double top formation in higher TFs (Top is at 474-475 levels). Short at open for an easy target of 445-450.

4b26c1ffaa69429f8af568711df78c

NIFTY is currently riding the 5th impulsive wave, with a potential target of 18400. This upside from current levels of 17300, could come from some of the Index heavy weights that haven't reached their all time highs (like the HDFC twins) and stocks like Reliance, TCS, Infy, LT etc in which some upside might still be there. Trade cautiously and do not take...

4b26c1ffaa69429f8af568711df78c

The stock has shown a strong momentum-driven move from 3200 to nearly 4200. The stock seems to have topped out at this 'HIGH' and is best to book profits now. You may also consider going short in the F/O segment, as I expect it to trade for a considerable period between 4175(ATH) and 3570 (coinciding with the 61.8% retracement level). Note: This is a forecast I...

4b26c1ffaa69429f8af568711df78c

Bajaj Electricals is forming a Head and Shoulders pattern, noticeable in the weekly timeframe. Expect price to break the neckline and move about 295 points (Length of the Head) on the downside towards previous Resistance at 688.55 which should act as support (change of polarity).

4b26c1ffaa69429f8af568711df78c

Stock is currently rightly placed just at trendline support at bottom with a narrow range between overhead trendline. A strong break out could occur propelling it close to 52 week high.

4b26c1ffaa69429f8af568711df78c Updated 

Multiple Reasons to go short: 1. RSI - Std Bearish Divergence is seen in 1 Hr & 15 Min Time Frame 2. Head and Shoulders Pattern in tandem with what looks like a descending triangle pattern 3. Broke the trend line, retested at the extreme of the trend line, and moved lower. 4. Negative Price action constantly developing at VWAP If price opens gap up near 20EMA or...

4b26c1ffaa69429f8af568711df78c

The explanation is given in the chart.

4b26c1ffaa69429f8af568711df78c

Adani Ports has formed a Head and Shoulders Pattern. Measuring Implications suggests a fall towards the zone marked below. (Nearly 180 Points). The breakdown below neckline by a bearish trend bar followed by a retest and bearish follow-through candle will form the setup for a good shorting swing trade

4b26c1ffaa69429f8af568711df78c

Infosys has formed a Head and Shoulders Pattern, not the typical one as one may expect, as the right shoulder has been showing a sideways development near the neckline, without reaching to the high of the left shoulder. A breakdown below the neckline by a bearish trend bar followed by a retest and a follow-through candle (also a bearish trend bar) on the downside...

4b26c1ffaa69429f8af568711df78c

Based on Elliot Wave Analysis, Wave 5 seems to be forming an Ending Diagonal structure, which is followed by an extreme reversal on the downside.

4b26c1ffaa69429f8af568711df78c

LT is in a Corrective Phase, following the completion of the Motive Structure. The phase is confirmed by the fact that it is contained within parallel lines. You can expect the correction to continue further. This analysis is based on Elliot Wave Analysis. This sort of corrective structure is not just in this stock, but almost every stock that has run up...

4b26c1ffaa69429f8af568711df78c

Looking at the Monthly Chart of NIFTY50, the 5 wave Motive wave pattern has completed its structure, with Wave 5 having reached the trend-based 1.618 Fib retracement level, which is typically the level up to which it proceeds. The market is expected to see a good Corrective move (ABC Pattern of any type), which could mark a recession period. This analysis is based...

4b26c1ffaa69429f8af568711df78c

The stock has been forming a perfect HIGHER HIGH and HIGHER LOW Formation with respect to the Uptrend. I've Noticed the stock move from a LOW to a NEW HIGH by about 850 points on average and correction by 350 points to form a new HIGHER LOW . On a net basis, the stock is clearly moving 500 points Higher every time from a LOW to a HIGHER LOW....

4b26c1ffaa69429f8af568711df78c

MUTHOOT FINANCE has been moving within a triangle pattern and is on the verge of a strong breakout (possibly a strong upside). A trending day is expected. Catch the ride to make good profits when the breakout occurs. The possible target is 1380/-.

4b26c1ffaa69429f8af568711df78c

Large trading volume towards selling is seen. Price can fall with target at 225.50/-

4b26c1ffaa69429f8af568711df78c Updated 

The bullish trend sent the price above the high of the value area and sellers pushed it back towards the value area. There is a strong possibility for price to fall back towards poc of 467.85/-. That should be the target.

4b26c1ffaa69429f8af568711df78c

Price met a resistance level at 635-640. After facing resistance, it fell to a low of 592, after which it tested the resistance level again and fell to a new higher low of 602. The price now seems to be consolidating at this new higher low. This consolidation 'may' continue tomorrow as well. There is a possibility of a breakout above the trend line to meet the...

4b26c1ffaa69429f8af568711df78c Updated 

Flag formation seen in 1H chart. Bullish upside expected. Take long position once upper trend line is broken. Target expected is 2870 - 2880 levels As always, trade at your risk and conviction. Cheers!!