Dinesh_C_Nagpal

Dinesh_C_Nagpal Updated 

Slanting Channel set-up. It appears to be near a strong resistance now between 1620-1625. Expecting a pullback till 1575 and then 1525. View would go wrong if it sustains above 1645

Dinesh_C_Nagpal Updated 

It has reversed from Weekly support levels and is now consolidating between 1030-1000. It could go on to test daily kumo resistance at 1060 and Weekly Kijun resitance near 1100 provided it does not breach and sustain below 1000.

Dinesh_C_Nagpal Updated 

It bounced back from a Monthly Kijun support and is now near a Daily Kumo resistance. Am expecting it to retest Daily Kijun near 650. View would go wrong if it sustains above 700 inside Daily Kumo.

Dinesh_C_Nagpal Updated 

In daily time frame its attempting to enter into Kumo with a probable IHS formation. In weekly time frame its attempting a C Clamp structure. Has good support near 570-580 and immediate resistance at 605-610. Above that 675 is the next major resistance.

Dinesh_C_Nagpal Updated 

In both daily & weekly time frames it has breached through support of 2060-2090. Going forward until price does not sustain above those levels it could further slide down towards 1925-1900, where it also has a Bullish Harmonic AB=CD PRZ. HDFC has a lot of weight in the Nifty index and has now started showing signs of a correction like other stocks

Dinesh_C_Nagpal

Nifty is very much within the expected range, and as expected could not go beyond 11100 on Wednesday. For the day 10925 looks like a good support & It could now start another move from here for 11200-250 as long as it can stay above 10850.

Dinesh_C_Nagpal

Hindalco has reversed from a Daily TF Bullish Butterfly PRZ which is also a Monthly TF Ichimoku support for it. If it sustains above 175 on closing basis then it can retrace till 190 approx where resistance is found in all Daily-Weekly-Monthly TF.

Dinesh_C_Nagpal

For the 5-6 trading sessions it looks like #nifty could remain range bound between 10850-11300, immediate short term support/resistance levels are 10925/11100. Not expecting too much from on either side. Overall this looks like a small bounce back with downside targets still pending.

Dinesh_C_Nagpal

PSU Bank - Monthly wave cycle suggests if this month it fails to close above 2675 then a lot more pain is pending

05:19

Dinesh_C_Nagpal

Bank Nifty is a probable Bullish Harmonic Dragon set up, currently at Ichimoku based support level. A bounce back from here could take it to 29000 where both daily/weekly resistance is found next. View would be negated if it goes and sustains below 27775

05:01

Dinesh_C_Nagpal

Alternate Counts - Bearish & Bullish Bearish suggesting 5th down till 10050-10150 Bullish suggesting c of B of ABC up ending between 10325-375