NIFTY on EOD basis has given a good closing above its previous day high. This is always considered to be a very good bullish pattern.
The upcoming resistance will be at the zone of 17774 -17824 (50 Points) . The Fibo retracement of 0.33 lies in this zone too. A breakout above it will lead the Nifty towards 18071.
CHART & ANALYSIS
ADARSH DEY
PLOT EXPLANATION:
This study is just an extension of the previous NIFTY OUTLOOK predicting the Nifty downside reversal on 2ND Dec (Pinned to the Chart). Previously we noticed that Nifty follows a 55 Trading sessions Cycle, where it makes important Lows & Highs after every 55 Trading sessions. It has been plotted on the chart for a better understanding.
A...
This study is to show the importance of a simple Triple confirmation Strategy in WIPRO that has generated a good return in the past and currently shows the same confirmation.
1. 200 Weekly Moving average – the stock must have tested the 200 Weekly Moving Average.
2. Rate of Change must be above 1
3. RSI must be at or above 50 or marginally lower.
In the Past:
...
" GOD MUST BE A MATHEMATICIAN " If we look at the construction of universe and movements of the planets & other celestial objects movements, flowering & fruiting cycles in trees etc. everything has a pattern and they are cyclical in nature. That very same assumption is applied and works well in stock market, commodities and forex as well.
Identifying the time...
Biocon Ltd looks fundamentally very disappointing but there are few patterns on charts that makes it technically interesting at this point of time. Betting for an upside with a calculated risk doesn't seem as a bad option for now.
BIOCON ON CHARTS:
- Biocon has formed a Bullish Wolfe Wave.
- After 10 Weeks the Weekly closing has been above prior candle's...
CRISIL seems to have completed the correction at least for a shorter term. Wave counting is clearly mentioned on the chart. I request you not to get confused with Wave 2 as it is lower than the initiation point of Wave 1 but visible in Candlestick Chart. As the correction of Wave 2 have been really sharp ie. It was completed in 8 Days with 609 Points of Up move,...
Oil India seems a good buy at this level for a target of 220 - 236 with a SL of 191. There are multiple confirmations indicating a good short term upside in the stock , so probably it may do good in this week. Detailed explanation has been given in the chart itself, Please go through.
CHART & ANALYSIS
ADARSH DEY
The correction in HIKAL LTD seems to be done, the wave counting has been mentioned in the chart. Currently the stock is trying to a time wise correction and has consolidated for a time being try to form a rounded bottom structure and taking support on a curve during the correction phase.
Interestingly HIKAL LTD has a trading cycle of forming a low in every 88...
Seems to be a good entry point. Correction ended with a Bull Market Truncation at 0.786 Fibonacci Retracement level.The RSI shows a good amount of divergence with just about to cross the EMA . ADX indicator even shows the sign of bullishness. The EOD candlestick pattern also signals bullishness .As there are multiple confirmations from many indicators so can...
The very word “lunacy” dates back to the 15th century when it was believed the moon and its phases could make people become more or less aggressive, depending on its place in the lunar cycle
Several studies found a connection between full and new Moons and stock market performance. Generally, stocks tend to perform better in the days around the New Moon, while...
- Oct 9th 2022 the low making date for NIFTY was mentioned as 13 or 14th OCt 2022. The low was made on 13th Oct and NIFTY resumed upside.
- The target for the upside rally was mentioned approximately 18900 on 24th Oct 2022.
- Nifty achieved a high of 18887 on 1st Dec 2022 (Just 13pts away)
Currently we can see a completion of 55 Days time cycle and a small...
Graphite India in Bullish Wolfe Wave. As this analysis has been done in weekly time frame so having patience is advised for the target and return.The Rate Of Change has been customised for a better fit. The ROC indicates the initiation of a uptrend. However, the major up move is expected for 587 when the stock closes above 418 on Weekly basis. So it is advisable...
BOMDYEING in Bullish Wolfe Wave. It can be bought with a SL of 79 for the target of 94.80 and 108.80. The Directional movement on the downside seems exhausted and a reversal is expected.
( It should also be noted that the result date is 4th Nov 2022, the uncertainty remains high so please put a strict SL)
CHART & ANALYSIS
-- ADARSH DEY
In the previous NIFTY OUTLOOK Nifty was expected to be range bound within the zone 17442-17561 for continuously 3 days Nifty was range bound with closing in the mentioned range. And on Thursday evening I expected a breakout and I thank NIFTY for respecting the expectation on Friday market opening.
Currently NIFTY is expected to open gap up on the occasion of...
This is a study for OIL INDIA LTD.Due to some technical error unable to publish OIL INDIA LTD CHART.Please go through the below explanation for OIL INDIA LTD Chart and Analysis
Oil India seems a good buy at this level for a target of 220 - 236 with a SL of 191.
CHART & ANALYSIS
ADARSH DEY
HCL TECHNOLOGIES has beautifully taken a support at 0.5 Retracement level and its 200 Weekly Exponential Moving Average.
If we try to see the importance of 200 Weekly Exponential Moving Average for HCL TECH, then you can observe it has been rarely been broken by HCL TECH(Year 2008 & 2020 shown in the chart). Rest of the time when market is not in a panic mode HCL...
