ICICI PRU spot CMP 470
Counter have given breakout from inverted head and shoulder pattern on larger time frame.
On smaller time frame have give breakout from cup and handle pattern,,
small hurdle around 487 levels of neckline of medium term cup and handle pattern, if crossed and sustained life time high levels can be seen.
Note :- have already recommended to...
Kotak bank spot CMP 1870
Bearish butterfly pattern formation.
PRZ zone in range 1870-1940
SLZ above 1970 levels
RSI divergence :- price making higher high where as RSI indicator is making lower higher, bearish divergence.. RSI is on verge to break down below 70 levels that is from overbought zone indicates profit booking in counter..
Good short candidate.
Nifty spot cmp 13000
Elliot wave study :- on weekly time frame major elliot wave impulse phase is on verge to mature,, 20 year cycle is on verge to mature,, now if corrective wave unfolds there can be price wise and time wise correction on index..
Wave 1 is of around 5510 points ,, wave 3 is or around 10175 points which is longest and strongest wave of impulse...
Nifty Spot CMP 13000
Elliot wave Study :- Impulse phase is on verge to mature, and if Corrective phase unfold for this whole impulse swing we might see some retracement in coming 1-3 month ,, price wise which can be 0.236% to 0.50% of this whole swing.. more details mentioned on chart..
RSI Divergence :- In last wave of impulse phase , price is making higher high...
Dow jones historical chart from Apr 2013 to Sep 2015.. this chart is shared to compare the historical move of index in past and current structure formation.. soon will send the recent chart of dow jones,, and all viewers should compare both the chart to understand how history repeats..
CNX Financial Spot CMP 14200
Bearish Bat Pattern Formation
PRZ range 13950-14150
SLZ zone 14750
Down side 12500-12000-11500 possible.
Any reversal below PRZ zone that is below 13950 would confirm reversal,, Index can see good retracement below this levels once pattern reversal confirms.
RSI Divergence :- Price making higher high, RSI making lower high,, Bearish...
Nifty PVT Bank spot CMP 16220.
Bearish BAT pattern formation.
PRZ in range 16600 to 16950
SLZ zone above 18050
Down side 14500 - 13500 - 12500 possible.
0.886 XA retracement completion around 16950
Equivalent AB =CD pattern completion around 16600
2% BC extension around 16640 levels..
RSI divergence :- Price making higher high, RSI making lower high, Bearish...
Hindalco spot CMP 214
Elliot Wave Study :- Counter is trading in 5th impulse wave of impulse phase,, soon corrective phase might unfold and price might see good retracement of current up trend.
Chart Pattern :- Rising channel pattern, counter is trading around resistance line of rising channel pattern.. prices may face resistance around this levels .
Balkrishna spot cmp 1555
Bearish equivalent ABCD pattern formation
PRZ in range 1580 to 1600
Trade to be initiated only after reversal from prz zone
SLZ above 1640 levels
Down side we can se 1480--1450--1410 levels
Bullish GARTLEY pattern formation
Falling parallel channel support around PRZ zone
Good long candidate around 25900 to 26100 levels
View gets negated below 25500 on closing basis.
Indigo spot cmp 1350
Bearish bat pattern formation
PRZ zone in range 1430-1455
pattern gets violated above 1540 levels
As per elliot wave counter is on verge to complete its impulse phase,,
once corrective phase unfolds,, we can see sharp fall in counter,,
Rising channel resistance around same range would act as good resistance
Price are making higher high and...
NIFTY CNX IT :- INDEX IS TRADING AT RISING TREND LINE SUPPORT ZONE,,AS PER ELLIOT WAVE ,, CORRECTIVE WAVE 4 OF IMPULSE PHASE MIGHT END AROUND 11000 LEVELS ,, VIEW GETS NEGATED BELOW 10400 LEVELS ON CLOSING BASIS,, IF THIS LEVELS ARE SUSTAINED ,, CAN SEE SHARP BOUNCE TILL LEVELS OF 13000-14000,,,,
BANK NIFTY SPOT IS MOVING IN CYCLIC MANNER,, 15 TO 17 DOWN BARS AND AFTER THAT 4 UP BARS,,, EVERY TIME DOWN CYCLE CONSIST OF 1700 POINTS DOWN FALL,, LETS SEE WHATS IN STORE IN COMING DAYS,, IF THIS HAVE TO PAN OUT TILL 20 FEB WE WILL BE TRADING AROUND 29100 LEVELS,,,