MDstockmagic

MDstockmagic

banknifty done complex correction in form of w-x-y-x-z for wave 4 and made low 50438. now banknifty has upside resistance near the gap area 52700-53000

MDstockmagic Updated 

xauusd made high near 2483 and moving down ward in form of ABC WAVE currently impulse down wave A is in progress... impulse down wave A has subordinate wave 1-2-3-4-5 of which wave A(5) in progress... 2390-80 is the support zone.. bullish candle formation in this zone will give bounce for Wave B towards 2420-2430

MDstockmagic Updated 

Xauusd currently near the resistance of 2365-2370 Two scenario from here : Bullish scenario : XAUUSD after making low of 2286 moving 3-3-3 waves till now (a) wave completed from 2286 to 2368 (moved in 3 zigzag move up) (b) wave completed from 2368 to 2293 (moved in 3 zigzag move down) now (c) wave started from 2293 to till now made high near 2365 ( internal wave...

MDstockmagic

#Banknifty slowly moving upside inside the wedge with HH-HL structure...yet no weakness. upside resistance 54000-54600 downside important higher low near 52000 One should patiently wait for structure and pattern breakdown for contra trend entry.. as still it is in buy on dip mode.

MDstockmagic Updated 

XAUUSD .. making bearish flag... consolidating in abcde waves of which last wave "e" is in progress.. immediate resistance near 2344-45 and than channel resistance near 2355 whereas downside channel support near 2310-08 breaking of channel will bring sharp down side..

MDstockmagic Updated 

XAUUSD 4H chart : trading in a channel with ABC CORRECTIVE WAVE.. of which wave C is in progress hence "sell on rise" mode.. Within WAVE C internal impulse 5 wave down in progress... of which wave 3 down in progress confluence level comes near $2385.. if broken than more downside towards 2265-2250

MDstockmagic Updated 

hdfcbank is in corrective wave abc post making high of 1595. Wave A down completed at 1454 wave B up has resistance near 1573-1575 Post wave B expect down move to start again for wave C..

MDstockmagic

DXY weekly chart. wave A completed at 99.57 wave B up in progress and triangle pattern is forming with contraction of range over a period of time. Wave B is time consuming and one should wait patiently for impulse down Wave C

MDstockmagic

nifty pullback getting buyers as nifty is in impulse 5 wave. currently it is doing 3(iv) correction and post that vth wave up is expected towards 22700.

MDstockmagic

#banknifty future 15min #chart #Elliottwaves possible count.. banknifty future in corrective phase in form of abc move .. corrective #patterns are time consuming.. currently near the support & fib 1.618 near 45800-690

MDstockmagic

#banknifty 15min #chart #Elliottwaves possible count.. banknifty in corrective phase in form of abc move .. currently B wave in progress.. corrective #patterns are time consuming.. immediate upside resistance 46900-47000 support 46200-350

MDstockmagic

ABFRL given inverse head and shoulder breakout with volume.

MDstockmagic

Nifty Bank moving up for wave (c) which has 5 impulse wave currently resisting near channel resistance 44650 Above that high volume resistance zone 44850-45000 if sustains 44200-250 than one more try to break channel resistance possible.

MDstockmagic

Banknifty future moving in down ward channel shown with yellow color in above chart high volume zone is 44000-43800 . Here partial booking of shorts and trailing with tight stop loss are advisable. Be careful in fresh shorting near high volume support zone.

MDstockmagic Updated 

banknifty futre in 15 min chart trading in downward channel currently banknifty future is near channel resistance confluence with fib ratio 38% at 45171.. POC level near 45280 still banknifty making LH-LL PATTERN so be cautious in buying at higher levels

MDstockmagic Updated 

In above 30 min chart of banknifty we have given elliott wave count. Banknifty made high near 44499 and when it made high that time macd and rsi both shown negative diversgence which given a hint of coming correction in banknifty. This correction is started in form of wave ABC which seems completed near channel support of 43345 where macd and rsi both...

MDstockmagic

Banknifty future currently in broader range that is 43300 and 44100 and narrow range being 43500-44000 MACD and RSi given positive diversion. POC is near 44000 which acting as magnetic level. Shorters should stay cautious... as lower levels getting rejected till now

MDstockmagic

BANKNIFTYFUTURE 30 min chart: pause near 200sma cum poc level.. patience is needed here. Today high oi at 43800pe and 43900 pe creating support whereas high oi at 44000ce is still the hurdle.