KOTAK BANK SPOT CMP 1957
TIME FRAME :- 240 MINS
Pre assumption of harmonic Gartley pattern formation,
Where leg C might max extend upto levels of 88.6% of wave AB
At the moment counter have reached the max retracement levels,
So leg C might mature around cmp level to levels of 970
And soon led D might unfold which would lead the counter to much...
ICICI BANK SPOT CMP 917
Chart pattern study
Time Frame :- 240 mins
Symmetrical triangle pattern formation
Bearish divergence on RSI with respect to price
Suppy resistance zone around 922-936 levels
View gets negated above 945 levels on closing basis
Range of 922-936 should be used to exit long positions
Fresh investment recommendation above 945 levels
TCS SPOT CMP :- 3366
Counter is trading around resistance zone as per descending parallel channel formation.
counter might face resistance in zone 3364 to 3381 levels,
this range should be used to exit your long positions,
view gets negated above 3422 levels,
fresh investment recommended above 3425 on daily closing basis,
down side counter might retrace upto...
SNP spot cmp 4020
Time frame :- 120 mins
Bearish shark pattern formation
potential reversal zone at 4058 (pattern maturity)
Reversal confirmation below 4000 levels on closing basis
View valid till index sustain below 4120 levels on closing basis
Down side retracement possible till levels of 3900-3800-3700
Time horizon :- 7-10 trading...
USD INR 80.88
ELLIOT WAVE STUDY
Time frame :- Daily
Completion :- corrective wave 4
Unfold :- impulse wave 5
RSI :- Hidden bearish divergence with respect to price
Counter is on verge to mature its corrective wave 4 ,which as per ascending parallel channel have demand zone around 80.45 to 80.00 levels
once corrective wave 4 is completed , impulse wave 5 might...
INFOSYS AT 1590 levels is around strong supply zone,
Descending parallel channel resistance around 1610 levels
Horizontal resistance around 1602 to 1630 as per previous swing high levels,
Bearish divergence on RSI with respect to price,
Bearish wolf wave formation, where price are trading above the structure formation which indicate overbought situation...
Ambuja cement have give a phenomenon rally from level of 150 to now around 600 levels, almost 4 times in last 2 years,
Counter is now trading around 592 levels which is life high levels for the counter,
Bearish equivalent harmonic ABCD pattern formation with maturity level around 580-611 levels,
now any upward journey in counter should be used to exit your long...
Canara bank started its upmove from levels of 80 and now it trading around levels of 310 almost have given a rally of 4times in last 2 years
Now on weekly time frame counter is trading around resistance levels of descending trend line, which is around 310-325 levels,
in last one week counter is consolidating in range 303-315 levels and now able to sustain...
Price action study on reliance 240 mins chart,
from last 2 trading sessions counter is giving weak signals,
rally started around 2300 levels in counter to level of 2640
counter is trading in ascending parallel channel structure and maintaining its posture around higher end of the structure,,
now in last 2 sessions counter is giving reversal signals,
Counter is trading in ascending parallel channel structure, few days ago on result day counter gave a gap up opening and now counter have filled the gap,, now closing below 593 would lead to reversal confirmation,
so sustaining below 593 on closing basis and follow through would lead to levels of 579 and 551
going a head,,
if not able to close below small bounce...
Grasim spot cmp 1750 levels
cup and handle pattern formation, where breakout can be confirmed above levels of 1835 , need 2 consecutive daily close above levels for confirmation
symmetrical triangle pattern formation, where counter have resistance zone around 1790-1825 levels and support zone around 1690-1720 levels.
decisive breakout on any side would lead to a...
As per elliot wave theory counter is on verge to mature its motive phase,
ascending wedge pattern formation have resistance zone around 355-361 levels
counter have given bearish reversal on smaller time frame below 354 levels
now zone of 354-360 would act as strong resistance zone for counter.
bearish divergence on rsi with respect to price,
use rally in counter...
MNM as per elliot wave theory is on verge to mature its motive phase and soon the corrective phase might unfold ,which would lead to deep retracement in the ongoing rally for this counter.
Recently counter gave a breakdown from the ascending trend on a structure of parallel channel and now counter have retested the same channel levels.
Bearish divergence on RSI...
Index is facing resistance around the ascending resistance trend line, though index and nifty are managing to achieve higher levels, auto index is making bearish weekly candle around resistance levels,,
Now till index does not give weekly close above 13500 levels,, view remains to be lighter on auto counters.
As inflation boom autos are the first one where the...
Index have historical resistance around 1186-11230 range , where index have made top and reversed , so if same resistance levels is respected , index will give sharp fall of 600-800 points fall from resistance zone.
view gets negated above 11250 on daily closing basis
keep watch index is at resistance juncture..
Index is trading in time cycle of 106 days and 73 trading bars on daily time frame,
after every 106 days index tends to make peak and reverse below previous low levels,
106 days cycle maturing soon,, need to keep watch on that time cycle,
index have given break out from descending trend line resistance, and sustaining above that levels,
but till it does not...
Nifty pvt bank index have life time high around 21720, if index fails to sustain above 21720 levels and give daily close above that levels, than consideration of double top pattern around 21700 levels, from where reversal till levels of 20000 can be seen on initial basis,
2 consecutive close below 20000 levels might lead to further correction in pvt bank...