Weekly chart. Hammer after downtrend @ support level. Bullish candle after the hammer. Good risk reward ratio. Target 750 in 6-8 Weeks. Stop (Exit) below 595 on weekly candle closing basis.
BSE:RELCAPITAL Daily chart shows multiple support level at 530 zone. Stock bouncing from that level with Bullish engulfing candle. Stochastic also getting up from Weakness zone (I don't like to call it Oversold zone). Stop loss below 520 on daily candle closing basis. Targets: 650/750. Time frame for target 30 & 50 Days.
NSE:NIFTY Nifty Spot currently trading @ good support zone. A: 61.8% Retrace of Fibo (Drawn from right to left) B: Gap up level. C: Previously double top level.. So watch how Nifty trades at 180/220 zone. Price action is the key. Not predicting anything here. It should show some hesitancy @ current support level before making its mind.
NSE:CNX500 Monthly Chart: Nifty 500 may touch 161.8% of Fibo = 9500 or it may just reverse from current "D" zone of AB=CD. Price action (Candlestick pattern etc) to be watched closely. First support 7500. Next resistance (200% Fibo Extension) @ 10800. This level comes to play only if Nifty 500 crosses 9500 & holds for a month.
NSE:TATACHEM Stock facing resistance after reaching 161.8% Fibo extension. Price action also suggests reversal on the cards. It may test "B" zone = 585/600 Levels. Stop above 780.
NSE:HEROMOTOCO Weekly Chart: Hero just tested the 'D' level of AB=CD pattern (= 4100 zone) & facing resistance. Stock likely to test 0.618 of Fibo = 3236 level (Marked with white arrow). Bias remains bearish, But not safe to short as Risk Reward Ratio is not good here.
r After touching D zone, failed to trade above 161.8% Fibo extension. Now finding support near "B" zone = 215. Watching price action closely. No trade as of now.
NYMEX:CL1! CL Near "D" zone of AB=CD pattern. 161.8% Extension of Fibonacci is @ $ 55+. Watching price action closely for any short trade. Next resistance (If breaks this level) @ $58. First immediate target would be $ 50 (i.e "B" level), If price action says to short.
OANDA:XAUUSD Gold Trading @ small support area. No trade here. Watching price action in daily time frame. any rejection (Hammer candle etc) near $1265 may take gold up to $1300. $1265 & 1260 also marks Fibo+ Pivot point in weekly charts.
COINBASE:BTCUSD AB=CD pattern is almost done in BTC/USD in daily candles. $6300 area is where "D" wave ends. But BTC may see 1.618% extension of Fibo i.e near 6800+. Satying neutral here & just watching price action @ these levels. Next immediate resistance is 8000 (2.0 of Fibo ext).
NSE:RELINFRA Now stock trading @ key supprt zone. Watching price action here before entering long trade. As of now no sign of bullish reversal in Daily or Weekly TF. ADX well below 20 level from July. It should go above 25 for momentum. Remaining neutral until that.
NSE:RELCAPITAL ABCD Pattern done, Stock touched 161.8% of fibo (725). now stock just hovering around "B" level aka 540/550. 495 & 440 is next support zone. Watching price action (Bullish candle etc) here. Neutral as of now.
Bank Nifty Monthly completing AB = CD. Staying neutral as of now. Will watch price action. 161.8% Extension is near 27000. 200% Extension is above 31,000+. Any fall after or Near "D" zone may be fatal. First target 21000 in that case. Not to trade. Just to learn.
NIFTY Weekly chart. "D" zone touched. Price struggling at 10160/10180 i.e 161.8% of fibo Extension. Once that level taken out by good bullish candle, Next resistance near 11000 (200% of Fibo extension). Price action here is the key.
Stochastic @ overbought level. Now Bearish engulfing candle. Short with stop loss of 10 Points (315). Target first band & second band(285/262). Good Risk Reward ratio.
Weekly chart. ABCD in process. retrace (B to C wave) shot lil below 38.2% (Fibo Drawn from right to left). So not a perfect ABCD. Once the resistance breaks (721) one can buy for 910+ as target. Second target 970+. Stop (Exit) level below "C" wave = 600 on weekly candle closing basis. Time frame 4 to 5 months.
Balasore Monthly candles above 70 looks good (# outside down pattern beginning). Also wait till RSI gets above 70 Levels & MACD makes new high, One can add Faster MACD of 5.8.3 for new highs or at least 3 yr highs before the entry. BUY Only above 70 with stop of 50.
Perfect ABCD Pattern. Tweaked little bit according to support & resistance. 50% passes thru small gap. See how price retraced.