About meI am a full time trader and a trainer into equity market. I have been in the market over a decade. I analyze charts from various perspective by keeping price action & option statistics in focus.
Elliot Wave count three (3) got active today, above 18,265. With this SL (-20-25 points).
Now two patterns are making a confluence. Butterfly (harmonic pattern, as depicted in red color) and Elliot wave count (3) three, which will be larger than wave one (1) 400 points (18,000 - 18400). I expect minimum 18,700 in quick sessions as both CD of butterfly and the...
Inverted Hammer at Swing High (@weekly).
If prices travel below 18,000 and stay below it for a couple of days, we will have a "Shooting Star".
The likely TGT could be 2.0%-2.5% downside (17,650 - 17,500)
(View invalid above 18,300)
1. 2H Chart suggests a possible HNS.
2. If 835 does not get defended, we have a deeper TGTs downside. Follow Extensions as depicted on the chart.
3. 890 - 865 - 835 are key reaction levels where a trade can be thought of based on price action on a given day.
Hindustan Unilever Limited (HUL) NSE: HINDUNILVR
1. As FMCG Index suggests nearly 3-4% downside space, it would be prudent to wait for some more time in HUL, for a mega move
2. Posting Index chart as well for reference.
There are two major parameters plotted on the chart
1. Percentage ladder (1% multiple) - Indigo as per Fib Series (1,2.3,5,8...)
2. Extension of the previous swing on the downside. Major downside TGTs exist at 1.272 and 1.687 levels.
CNX Infra NSE:CNXINFRA
Infra Stox are some of the most volatile bunch. To be tracked and traded individually, roughly, we may expect 5-10% upside from current levels and then doom!
All PA logic and levels are on the chart.
NIFTY expected move:
We have some major economic and geo-political reasons to keep in mind
1. Weaking world currencies against USD (I am expecting a 10Y USD Bond yield to go double to 7bps (2006 levels) from the current 3.5bps - Actually, it started rising from 0.5bps.
2. Financial and Economical weaker backdrop of Europe given Russia- Ukraine...
1. Trading above all key DMAs 21/50/64/100/200/233 (Both on Daily and Weekly TFs)
2. Approaching potential B/O level
3. Any close above 570 will trigger upside to minimum 10-20% in a short term.
4. Entry above 568 Stop Loss Below 542 (Closing basis) TGT - As depicted with Blue Flags on the chart