Divergensity

Divergensity

Escorts seems to have completed a complex flat ABC after the initial impulsive down move. I would expect this to retest the lows @ 525 levels. The sell has a decent risk / reward ratio. This could be the next move down after the corrective up move which is probably now finished. ** This is not a trade advice**

Divergensity

MCX seems to have completed its consolidation in the lower time frame and is probably heading higher to retest the recent highs, mentioned in the chart. My view is that this is just a short term trade probably a few days and not for investing, yet . Risk/ reward from current levels to target seems to be good.

Divergensity

Tata Elxsi might see a corrective up move to complete the C wave of the possible ABC (Flat) pattern it is in currently. Risk reward seems to be good too.

Divergensity

Bata seems to finished or its about to finish the Flat corrective structure , after a down move. This pattern I am looking at is one of the simplest and common patterns that occur. Bata could also be in a complex correction- however there is not enough data to see a complex correction. This could mean that Bata could continue to move down for a retest of the...

Divergensity

Tech M seems to have finished an expanding flat as part of a correction to move to the upside. Its highly likely that Tech M could start moving up to retest its previous highs and also possibly make a higher high. Now even if it makes a lower low on the 60 min , that could mean that the wave C is incomplete. I'd still look for a buy set up unless Tech M starts...

Divergensity

Jet has an interesting pattern on the Weekly. There could be a corrective Up move now that its at its weekly low. Selling here doesnt have a good Risk/reward whereas buy looks promising, IF and ONLY IF we get a clear pattern indicating a break to the upside. Now, there is a possibility, but, how likely is the question. Gotta wait for more patterns to form and develop.

Divergensity

So Sugar did give the breakout that I was anticipating. Earliest targets could be the previous 240 highs and it could go beyond- probably as a corrective upmove . For fresh longs, waiting for a pull back or a corrective structure seems to be a good idea!

Divergensity

USDINR is possibly in a corrective stricture. Flat or a running flat - upon completion it could break to the downside.

Divergensity

Nerolac has been consolidating for quite some time and now it looks like its done. There is also a 60 min corrective pattern that is probably finished itself and this could mean that the next move is Up. I could either buy at the current levels or let it pull back and then enter. Allowing a pullback offers a better risk/ reward. Targets are the lifetime highs and...

Divergensity

Bank of India has finished a probable flat as part of its correction to the upside. I think its going to be in a 240 pullback before the next move. This pull back could give a low risk / high reward entry. There's no sell setup and even if one manages to sell, I don't think its going too far down. Also, we are at a very low level on the weekly so the probability...

Divergensity

JSW is most likely in a complex corrective pattern and I don't think there will be major down moves from the current levels. There is a high probability that it will swing up first - not breaking the high above the trend line- and then start moving down. There is no buy setup yet, it could either setup in the next few hours or we might see a sell setup at the...

Divergensity

Marico would most likely make a move down first towards the most recent lows and then it could proceed to make a higher high. There is no sell setup yet, so caution advised if selling. If there is a sell setup that forms over the next few hours, then maybe sell could be looked at. The bias is to the upside so I would wait for the down move to buy and look to exit...

Divergensity

Tech M looks like it finished a running flat and that means it could continue to move up for one higher high. Alternatively, it could end up in a lower degree correction and move down once to end the higher degree correction. From what I see, I think this one is likely to be in an up move to retest the previous highs and/or go slightly beyond too.

Divergensity

Raymond is possibly in a Flat correction here. This is at one of its 'High' points now- a possible down move can be expected to go back to the recent 'low'- a possible buying opportunity to go back to the top again. A classic Sell High, Buy Low, Sell High kinda setup.

Divergensity

From the current pattern, looks like Brent Crude is in the middle of a complex correction and there could be a down move which could have a corrective up move to finish the entire correction.

Divergensity

So this is the Nifty 500 chart, looks similar but it doesn't exactly do the same thing that Nifty 50 does. In fact I think this reflects the actual market movement more closely. Anyway, looking at the 60 min chart, we see that Nifty 500 is at one its highs. There is divergence on the MACD. We might be in the middle of a correction and there could be one move down...

Divergensity

BPCL has broken out of the daily downtrend. It made a solid move up and as always it will consolidate before the next major move. Looking at the 60 min, I see that its possibly in a flat formation which means the buy comes from lower levels closer to A. Buying here at this level doesn't have a great risk/ reward. Waiting for the flat pattern to finish and then buy...

Divergensity

Looking at the 240 on this pair, I am guessing we are in a complex corrective pattern. If this is true, then the next leg could be upwards to finish the C wave which is part of the higher degree B wave. Thats the bigger picture from what I see.