Rajesh_Ramchandani_Delta

Rajesh_Ramchandani_Delta

NSE:NIFTY Bull finishes its 21 months at the end of 2021. Nifty formed only 5 red candles during this phase. 22nd month of bull phase begins with 2022. Fibonacci channel shows the level to watch in the 22nd month is 16,135 as the final support level to bull phase.

Rajesh_Ramchandani_Delta

Observations: 1. After facing resistance at the central line yesterday, Nifty could break it in the final hours of trade today. 2. Nifty has also formed upswing today which can push Nifty to the next resistance level, which is at the upper band of the downward channel. But do remember that this is all happening within the downward channel. . 3. Once the...

Rajesh_Ramchandani_Delta

Observations on Dec 20 closing. 1. Rebound from the lower band support line. 2. Intra day recovery of more than 38.2% 3. New lower low was formed today from the downfall begun on Oct 19. Conclusion: Trend is clearly down as the downward channel is maintained and the new lower low is formed. In view of point 1 & 2 above, the fall may be gradual and not the...

Rajesh_Ramchandani_Delta Updated 

On left hand side chart, there is an upward channel on weekly time frame since Sep 2020 and downward channel from mid October 2021. NSE:NIFTY On right hand side, downward channel formed since October 19, 2021 is focused on daily time frame. Observations: A) On weekly chart, Nifty has taken support at the lower band of upward channel. B) On daily chart, Nifty...

Rajesh_Ramchandani_Delta

Nvidia has taken support from 1) 61.8% Fibonacci retracement level from the lows of gap up point of October 25 to high of Nov 22 2) 38.2% Fibonacci retracement level from the 16 Feb 2021 breakout level to the highs of Nov 22. 3) Trend line formed by connecting highs of Feb 16, July 6, and Aug 30 NASDAQ:NVDA

Rajesh_Ramchandani_Delta

FX_IDC:USDINR chart for the post corona fall phase shows that the present level is at; A) 78.6% Fibonacci extension level from the Feb 2021 bottom B) Resistance line of upward channel formed since May 2021 The intersection level at 75.96-75.98 is playing as the last resistance point before its move to lifetime high of 77.

Rajesh_Ramchandani_Delta

NSE:CNXMIDCAP Observations: 1) It has taken support at Gann Fan line 2/1 at 45 degrees drawn from the bottom of March 23, 2020 low. This confirms that 21 months old uptrend in Midcap is still intact. 2) It is near to break resistance line of the downward parallel channel formed since October 19, 2021. 3) Probability of breaking resistance line mentioned at...

Rajesh_Ramchandani_Delta

BITSTAMP:BTCUSD COINBASE:BTCUSD BINANCE:BTCUSDT This is in continuation of previous posting "Bitcoin at crucial support point". Breakout of RSI trendline is initial indicator of Bitcoin moving back in positive territory is seen at A on chart. It now require confirmation by crossing 38.2% Fibonacci level and the price trendline as marked as B & C...

Rajesh_Ramchandani_Delta

Elliott wave analysis of Ethereum confirms its 3rd wave journey pattern. Wave 1 - Finished at 4384.43 on May 12, 2021 Wave 2 - Finished at 1718.41 on July 20, 2021 Wave 3 - Sub-Wave 1 - Wave 1 - Finished at 4030.35 on Sep 3, 2021 Sub Wave 1 - Wave 2 - Finished at 2651 on Sep 21, 2021 Sub Wave 1 - Wave 3 - Sub-wave 1 - Finished at...

Rajesh_Ramchandani_Delta

S&P 500 1D Chart Observation 1 - S&P 500 is presently at the lower band of the upward channel formed since April 2020. Observation 2 – Focused view of the last 2 months shows, S&P 500 is seen taking support at 50% retracement level (Oct 4 Low – Nov 22 High). Conclusion: S&P 500 taking support at 50% retracement level on two months chart when it is at the lower...

Rajesh_Ramchandani_Delta

TCS has formed double bottom at 3390-3405 and it is now facing resistance at 61.8% FE level (July 28 Lows - Oct 8 Highs). It may retest the neckline which is also at 50% FE level before taking upward move.

Rajesh_Ramchandani_Delta

As per the Elliott Wave principles, Nifty is presently in a super cycle which commenced from the low of April 2003 at 924.30. The first impulse wave Nifty lasted for 55 months till Jan 8, 2008 at touched the highs of 6,357.10. The second wave, a corrective wave was triggered by US financial crisis in Jan 2008 and led to the lows of 2,252.75 on Oct 27, 2008. ...

Rajesh_Ramchandani_Delta

Refer to the last week’s analysis wherein resistance in the range of 11541-11620 was mentioned. Nifty touched the highs of 11,618 during the week and couldn’t break this resistance, it finally closed at 11504 almost flat closing for the week. While the key indicators like RSI and MACD are in negative territory, Nifty’s closure above EMA20 and DMA10 levels keeps...

Rajesh_Ramchandani_Delta

After touching the lows of 11,185 during the week, Nifty managed to close above key level of 11,408. While the upward channel still remain broken since Aug 31, Nifty has been able to keep DMA50-DMA200 crossover intact. After 5 days of remaining below DMA20, it managed to close above this level on the last day of week. In view of this, one more trading session is...

Rajesh_Ramchandani_Delta

On Sep 4, 2020, the first day after massive fall, Nasdaq touched the lows of 11,146 (5.3% low from the previous day closing), the low price however faced rejection and market closed at 11,622.10, down by 1.27%. The close was at the support line connecting the pre-COVID fall highs on Feb 19 with the lows of Aug 21 (Shown as B line in charts). Traders and analysts...

Rajesh_Ramchandani_Delta

There is clear break in five and half month long upward channel and Nifty is below DMA10. Next key level on downside to be watched is around 10,880 at the Sep 2016 - Oct 2018 line. DMA50-DMA200 crossover is so far intact, fresh strength in Nifty can only be expected above 11686 levels. - Rajesh Ramchandani

Rajesh_Ramchandani_Delta

Nifty finally broke the narrow range on upside and crossed the resistance level of 11,537. With this narrow range breakout Golden crossover of DMA50-DMA200 stands confirmed. Signals like MACD in positive zone, bank nifty closing very strong, Nifty closing high with higher volumes and India VIX at its lowest level in the last 6 months indicate that Nifty will...

Rajesh_Ramchandani_Delta

Nifty is in a very narrow range of 130 points. On downside, there is support at 11,278 formed from Apr 30 – June 8 highs. Nifty breaking this can be seen as confirmation of break in uptrend since March 23. On upside, Nifty has been able to maintain its support at DMA10 levels. Another key signal to observe is DMA50 level, which has just touched the DMA200, a...