Dev9939

Dev9939

Looks like we have completed 5 Wave Advance and it is leading diagonal. Wait for Wave C trading opportunities. We can take decisions based on price actions .

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Bank Nifty 75 Mins Structure: This is what I think should be a higher probability. Still RSI is struggling to get past 60. Once we cross RSI 60 & 33600, a strong move towards 35000-35500 may be possible. SL would be 31625.

Dev9939 Updated 

As per weekly chart Gold is now showing strength from around 0.382 retracement levels. Follow up moves from here would provide important clues about the Wave 5 development.

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The stock seems to have completed its 4th wave correction and now getting ready for 5th Wave. Fibo relations among the labelling are in line with the guidelines. Expecting 1100 minimum with SL of 811.

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Titan seems to be forming an Expanding Triangle in Wave 4. Keep the counter on radar and watch out for a break out.

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Looks like the stock is preparing for next impulse. 684 is the support whereas 720 is the immediate hurdle.

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BSE seems to have completed Wave 4 correction and might be attempting for Wave 5. I have placed my thesis here. Invalidation level is 535 and we can expect 680-725 levels as Wave 5 TGTs

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Stock is getting ready for 5th Wave rally. Above 630 momentum may accelerate. Keep SL around 535 for the TGTs of 750-780

Dev9939

On 4 hours chart the structure looks bearish. We have moved down in 5 Waves which could be Wave 1 or A and now it is trading sideways and forming a potential Triangle pattern which could be Wave 2 or B. So the next impulse on the downside can offer a trading opportunity which could be either Wave 3 or C.

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Weekly chart of Britannia shows Double Bottom Reversal Pattern. This is one of the most reliable reversal chart patterns. Pivot is around 3798 and the stock has closed around this break out zone. The stock is expected to trade with positive bias and may challenge its previous high. On a daily time frame the stocks is quite extended from its 20 EMA. So gradually...

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The pattern looks like a Triangle. Momentum on the upside is building up. Can be added gradually with SL of 1010 for a move towards 1150-1180.

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Stock is trading with positive bias and all MAs are positively stacked. Stock may cross 1100+ levels in coming days. SL could be around 980

Dev9939

On 75 mins chart it looks we have completed an impulse. And now it seems the stock is going for Wave c of the corrective pattern. Usually Wave C extends 100 to 168%. Similarly the bounce after five waves down as per guidelines terminates around previous Wave 4. So Bharti may move towards 545-550 as per this thesis. Stop loss is the low of Triangle Pattern.

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It seems that after Impulse down we are now in a corrective phase which is unfolding as Zigzag. We have completed Waves A & B so far and Wave B retracement is around 0.618. So now we might be going for Wave C which can extends 100% of Wave A. This gives a logical target around 540-545 levels.

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It seems we have tough resistance around 14970-80 zone. If the index manages to cross we may see momentum building up.

Dev9939

The rally from 1830 to 2231.9 looks like a Leading Diagonal which could be Wave 1 or A and the recent correction could be Wave 2 or B. The correction is around 0.618 level and the price is penetrating around 0.618 level. So what I think is that if Reliance starts moving higher from here the next impulse could be very strong. This is just a rough idea at this...

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In this video I have discussed SBIN daily chart in details. Please check out and let me know your valuable feedback.

Dev9939

So this is how the labelling is done on a daily chart of Bank Nifty Future. As you can see what I believe is that the recent correction is Flat in Wave 4 and so far we have completed Wave 3 and now we might be going for 5th wave rally. Wave 4 retraced around 0.236 and within this Wave 4 sub-wave b retraced more than 0.786 whereas sub-wave c extended exactly...