Dow has again formed a nice base at the support. Should give a nice AB= CD rally up.
Rebound trade from support along the main trend.
The pair seems to have been contracting in the zone of support. Seems to be a good long term bet from here on.
After a long period of contraction, now the stock is moving for the big move. The company belongs to a niche field and has long term prospects. A long term positional bet for targets 50, 100.
The index has reached a possible support zone. recovery possible.
NGAS has faced upside resistance and has formed a sell setup now. SL day high.
RR seems good for a short in the direction of the shorter term bear trend.
Bnf has formed a bearish pattern on smaller timeframe chart. Sl n tgt as given.
There seems to be little momentum in the upmove. I will be looking to enter the short trade as shown.
USOil has again revisited the contraction zone which has proved to be a resistance again.....as per the wave structure, bias is toward the downside.....and the RR seems to be in favor.
The longer timeframe resistance has proved too strong for bulls to muster the courage for BO. So, lets wait for the bear confirmation on daily there. But intraday, looking for the entry as shown.
Hindunilvr has just tested a strong support zone and is rising after consolidation. Expect a C or 3 upmove from here.
USOIL has formed a bullish candle and looks good for breaking out the contraction zone....
HUL has just moved down from the contraction zone.....and should target 2060 level.
Nifty had given a gapup opening above an important resistance zone and has been consolidating. This likely is a contraction zone which will take some time to develop. I personally prefer to go long on the break of the upper portion of the contraction zone as and when it happens now. Trade may be taken on shorter timeframes.
USOIL made a LL on the 4H and I now expect it to move lower for the C leg down.
HDFCBANK has been moving sideways since morning gap up and seems likely for a head up.
Gold has broken out from the wedge now. We may look for entries on the shorter timeframes.