About meI am Certified Financial Technician(CFTe) from International Federation of Technical Analyst(IFTA).
Note: Charts published are not recommendations to buy/sell any specific instruments. Please do not trade based on my ideas. Trade at your own risk! You
Banknifty after the fast up move as expected as per the last update, it gave a running/expanded flat correction which now is complete and the up move has resumed and the next targets are 24000 and 25000. One can trade long for targets of 24000 and 25000 with stoploss just below the recent lows of 21000.
BankNifty Outlook looks bullish to me from here.. As per my Wave Analysis.. BankNifty has Complete Wave A and Wave B of Longer Correction.. Where Wave A was an Impulse Wave.. Wave B was a Running Flat Correction and Now Wave C is in progress which should be Impulsive as per my analysis.. which means we can get Targets of 22000 or higher for BankNifty very quickly...
BankNifty after a smart rally is not under a correction of that rally and would correct 50 to 61.8% fib levels which would complete Wave A and Wave B and a rally further towards 24000 is possible for Wave C to complete the zigzag correction after which we shall see another big fall which will be at least equal to the first fall if not more...
XAUUSD has made a long term correction which now seems to be complete on the upside and a decline is inevitable which would break the previous lows and go towards 900 for the target.
This would take several months or a year to play out..
Hexaware is set to decline again to complete the Zigzag correction on the longer timeframe. Wave A and Wave B have already unfolded and targets for Wave C should be equal to Wave A which comes just below 200. 61.8% Fib comes around 220 levels. One can take short positions with stoploss above 380 for the targets of 220 and 190. Its a long term trade so it will take...
Cipla has potentially completed its ABC correction on long term charts and is not set to go higher from here... The correction completed with the channel and Wave A = Wave C and almost at 61.8% Fib levels giving every indication of a reversal from those zones.
One can go long in this stock now with the stoploss just below recent lows around 385 for Targets of...
IndiaCements Stock looks good after a 50% retracement from the recent rally. The stock could start going higher from current levels or retrace a little more till 61.8% fib levels and then going higher towards the target of 95 and 100. Keep a stoploss just below 75 levels.
#indiacements #nifty50 #nseindia #bseindia
This chart analysis is especially for those who asked me about my view on BankNifty going forward after the big rally... My view is BankNifty should go high from here and make new highs and go towards 34000 as my target. Even if there is a deeper correction which I believe should not be the case, the view still remains to buy the BankNifty and look for...
BankNifty has retraced almost 61.8% fib levels and gave a reversal candle stick pattern at those levels. This indicates the short term correction is over and would start a new upmove from here towards the target of 28700 levels for BankNifty. Keep a stoploss around 27000 and trade long for the targets.
Kotakbank is going to give a big deeper correction towards 950 levels. I would keep a stoploss at 1360 and short Kotakbank at current levels or if it goes little higher.
After the rally to 20,000 and a deep correction, completed Wave I and Wave II of Bitcoin and potentially started a new wave of which Wave 1 and Wave 2 is potentially complete, which then makes the next wave which is going to start soon or started just now Wave 3 of Wave III which is considered to be the longest and fastest Wave.. And given the...