NeeteshJain

NeeteshJain

It is been observed that in the range of 1550-1565, there is a high selling pressure that takes the prices down to lower levels. Today price action showed tremendous weakness at that range level that formed a long red candlestick with a upper wick showed price rejection on higher levels. I would recommend shorting it for a while until the price action breaks above...

NeeteshJain

The price action is been ranging in a rectangle consolidation where it is forming a Regular Flat Correction pattern that indicates completion of corrective phase and beginning of a new bullish move or trend. A good risk to reward setup. Keep a Stoploss: 1290 Target 1: 1340 Target 2: 1375

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From Jan 2016 till Aug 2016, the price action is in a correction phase. Now it has formed a Bullish AB=CD Pattern which also represents a zig zag pattern as per the Elliott Waves Principles. This indicates a short term bullish trend reversal with targets as below Target 1 (0.236) - 432 Target 2 (0.382) - 461 Target 3 (0.618) - 610 Stoploss: 380

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As per elliott waves principles, Nifty has completed its complex correction where two corrective patterns where formed. First was Flat correction pattern where 3 Waves (ABC) subdivdes into 5-3-5 correction (marked as W) and another is simple zig-zag correction where 3 Waves (ABC) subdivides 5-3-5 (marked as Y). Both were connected by inverted Zig-zag three waves...

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Today, it was totally a buyers show as it was in Bajaj Auto (attested below). Buyers actively took the prices up and above from previous resistance level of 5015 and now it shall move further up and reach to 5200 levels before the profit booking takes place. It is a good time to enter with stoploss at 4920.

NeeteshJain

Today, it was totally a buyers show. Buyers actively took the prices above the previous resistance level of 2940 and now it shall move further up and reach to 3000-3050 levels before the profit booking takes place. It is a good time to enter with stoploss at 2870.

NeeteshJain

Today, the price action breaks out in a big time by breaking through the resistance trendline. Buyers pressure took the prices 7% up in a day that indicates strength and bullishness. If it breaks through 127 levels which is the next resistance level then we shall see 136 levels in this month series. Momentum is up and high. Target 1: 127 Target 2. 130 and 136...

NeeteshJain

After a long consolidation, it breaks out from the symmetrical triangle by large green candlestick along with good volume.

NeeteshJain

After a long rectangle consolidation, the buyers have taken control and made a new high in prices. I believe it shall go higher as a new wave.

NeeteshJain

The price action is been trading between trendlines and forming bullish candlesticks pattern at the bottom of trendline or resistance line. For past three days, it is been falling and formed a Three black crows bullish pattern. Now, it can move up tomorrow as shown in the chart to confirm the pattern as it is also previously done. Buying pressure at resistance...

NeeteshJain

The pinbar candlesticks indicates rejection of prices on high levels and also indicates selling pressure at resistance levels. In the above chart, 1380 -1350 acting as resistance zone where we can see rejection of prices due to high selling pressure. The prices may go down to the previous 52 Week high levels to regain buyers in the momentum and also confirmed it...

NeeteshJain

It is correcting Wave 4 of Wave C in a consolidated triangle pattern, which is a continuation pattern. The break shall take the prices down to complete Wave 5. Kindly find the below attached chart to look for targets.

NeeteshJain

It is interesting to watch the price action forming a leading triangle as it can represent a new Wave 1 after a all time high breakout. This chart pattern is generally known as continuation trend pattern and subdivides wave structure in 3-3-3-3-3-3 that indicates consolidation between buyers and seller to move prices. The breakout from here on will define trend...

NeeteshJain

The Pin Bar Candlesticks formation indicates change in trend. If it is found near important resistance level then it signals selling pressure and rejection of prices on high level as indicated the above chart. Therefore, it is an important formation to measure market sentiments and as per above chart it indicates high selling pressure or profit taking signals...

NeeteshJain Updated 

Breakout from Symmetrical Triangle with High Volume Expected Target: 323 Sl 314

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It is been observed in the price action of petronet that after a steady rally, it consolidates in symmetrical triangle formation where there is buyers and sellers indecision with price actions. On the previous symmetrical the buyers took control and we got an upside breakout with high volume and it rallied well to 340 levels. Now, the price action has come again...

NeeteshJain Updated 

Yesterday, the price action closed below the rectangle consolidation range that indicated bearishness and weakness in the stock as marked in previous chart of LT. Today, the price action continues the weakness and downward rally, expected to reach out to 1400 levels that is also previous resistance level.

NeeteshJain

The price action has just breaks below the previous support levels of 1100 and now it is heading towards the 1085, 1075 levels. Good time to short with stoploss 1126. Target 1085, 1075 Stoploss: 1126