RUDRA007

RUDRA007

Axis bank spot cmp 985 Weekly time frame Wolf wave + elliot wave study. Elliot wave :- counter is trading in sub wave (v) of major wave 5 , where after motive phase gets terminated. Price wise levels of 1015-1035 would act as a range where wave (v) could mature. Ascending trend line resistance of wedge structure confluence around same levels. Rsi in this last...

RUDRA007

Larsen spot cmp 2480 Weekly time frame Elliot wave study Counter is trading in last leg of motive phase which might mature around current levels. v of 5 is in play, Ascending wedge pattern indicate counter is overbought as its trading above structure. RSI and MACD have bearish divergence with respect to price. Last week counter made high of 2483 levels and today...

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Bank nifty spot cmp 45344 weekly time frame wolf wave + pre assumed harmonic formation Bearish wolf wave formation Index have just touched the resistance line of ascending wedge formation. may be can still give bit higher move of 300-400 points. may be can reverse from current levels it self, bearish divergence on rsi and macd with respect to price. Pre...

RUDRA007

weekly time frame wolf wave + pre assumed harmonic formation Bearish wolf wave formation Index is trading above the resistance line of structure. over bought bearish divergence on rsi and macd with respect to price. Cyper pattern roll out, leg C should be 1.13% of leg AB, at the moment its around 1.128 almost at maturity levels. if this pans out, there can be...

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SGX nifty cmp 18826 SGX nifty index registered high of 18831 today and 18860 in last week. Last week was not able to close above 18779 levels, As per wolf wave formation , index in last phase of up move, where index might face resistance around levels of 19000-19100 levels. As per pre assumption of harmonic pattern formation, leg c of pattern is already matured,...

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Dow jones 34250 Index is facing price rejection around 34350-34600 range. If index is not able to cross above 34600 range and sustain. Pre assumption of harmonic pattern formation, resistance as per previous swing high levels. would act as stiff resistance, reversal from current levels would lead to steep selloff in index. down side levels of 32500-32000-31500...

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IXIC index CMP 13550 Today index registered high around 13594 levels. Ascending parallel channel resistance around 13580-13630 levels. Bearish divergence on RSI, with respect to price. Index if not able to sustain at higher levels, can give sharp reversal. 1000-1300 lower side possible as per channel structure. Bulls time to be cautious

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KOtak bank spot cmp 1960 Elliot wave 60mins time frame counter is on verge to complete impulse phase and once trend line breakdown is confirmed with bearish candle, corrective phase might unfold. Another scenario is that one more high around 1990-2000 levels is possible and after that fall might start, Bearish divergence on RSI and MACD indicator , with respect...

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Reliance spot cmp 2497 Elliot wave study 60 Mins time frame. Counter is on verge to mature its impulse phase, currently counter is in 5 th wave, ending diagonal formation in wave 5 and final leg of ending diagonal can mature any time, one reversal confirmation from price action would give first indication of reversal in trend, Once reversal is confirmed ,...

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CNX PSU BANK index spot cmp 3945 Chart pattern study Daily time frame. Ascending inclined head and shoulder pattern formation. Currently formation of right shoulder is ongoing , any rise on higher side would face selling pressure till the high point of right shoulder is not taken out on daily closing basis. On lower side nearest support can be taken as the...

RUDRA007

CNX PSU BANK index spot CMP 3930 Elliot wave study Time frame :- Daily Index is trading in corrective phase of elliot wave. Formation of wave B is completed and current sell off in index have started to unfold wave C of corrective phase. Any rise in index should be used to exit any long position, till the recent high is not taken out on closing basis. On lower...

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Cnx finance index cmp 19250 Elliot wave study 120 mins time frame Impulse phase as per elliott wave is matured and corrective phase have started. ascending parallel channel structure is broken and retest done, indicate some more retracement possible. on daily time frame RSI have given breakdown below trend line support. So now the index is sell on rise till the...

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CNX AUTO index cmp 13650 Daily time frame Elliot wave study. Index is trading in (V) of wave 5 of motive phase. as per mega phone structure, resistance confluence around the maturity area of wave 5. AS per RSI and MACD index is over bought and any time this move can come to pause. Bulls should be cautious going further in auto stocks. once wave 5 matures and we...

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Bank nifty harmonic abcd pattern formation , and at the moment on the verge to break below the ascending channel. once sustain below the support line of channel for atleast 2, 15 mins candle, ready for a sharp reversal. Keep watch. above today high scenario change for life high levels.

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Nifty spot cmp 18333 Elliot wave study Time frame :- 60 mins Index is trading in wave (V) of 5 the wave as per plot is mentioned in the chart. But this can also Turn out to be A-B-C-D-E of wave 4. So till the apex line of triangle is not taken out this would be confusion. Divergence on RSI is the one tool which indicate that this should be wave 5. Price action...

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Nifty spot cmp 18333 index is trading around resistance zone as per ascending trendline. connecting the previous swing highs. bearish divergence on RSI with respect to price. waiting for one big bearish candle confirmation for reversal, if index is not able to sustain above the trend line than fall will be steep. Harmonic 3 drive formation also can be observed,...

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Nifty spot cmp 18265 Bearish divergence on RSI Double top formation, reversal confirmation still pending. once manage to sustain below 18257 levels , sharp retracement can be seen towards levels of 18180 and below that if sustains than 18050,, View negates once high is crossed and sustianed for 15 mins.. Conditional view , wait for levels of confirmation/

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Icici bank spot cmp :- 927 Study :- Harmonic Patterns Time frame :- Daily Pattern Type :- Bearish Bat pattern. Details :- AB leg can retrace between 38.2% – 50% of XA leg. BC leg can retrace between 38.2% – 88.6% of AB leg. CD leg can retrace up to 88.6% of XA leg. PRZ :- 940-950 Pattern violation :- 958 (closing basis) Reversal...