Reasons to go Short on Nifty:
- Rising Channel/ Rising Wedge/ Ending Diagonal Pattern (call it whatever) has formed on Nifty 4Hr Chart
- Triple RSI Bearish Divergence + MACD Divergence
- Today we saw a Steep Sell off (Wide Range Bear Candles)
- Market breadth has shifted in favour of declines to 1:2; it was at 6:1 during the opening today
- On Nifty's Daily...
Technical Breakout today on the Charts + News Driven Trigger of the Sputnik V Vaccine today. What else is needed in the Setup?
- 5200 might as well be achieved this week i.e. November expiry, quite a high chance
In addition to Nifty Pharma index is also in Bullish mode, Expecting Dr. Reddy's to see New ATHs soon too!
If you check my Last Post on SBI Cards, I was Kind of Too Early to Call the Tops as the Wave count got Extended.
But even keeping aside Elliot Wave since its forecasting in nature and not that Accurate since Counts keep changing and there are always Alternate Count views.
So even going by Traditional Price Volume Action which is a LOT MORE Reliable than Elliot...
CDSL Chart is Fabulous and Bullish
- Buy Triggered yesterday as per Weekly Candle
- Solid Price Volume Action can be seen in the Approx 3 month Consolidation base
- Daily Chart shows a Bollinger Band Squeeze, with Daily RSI 60+, ADX 25+, MACD in Buy Mode
- Weekly Chart is just So Strong as you can Clearly see wonderfully respecting Ichimoku
- Target Minimum...
Can you see the Chart is speaking very clear?!
- 38.2% Fib retracement done from the Tops, and the Pennant was Counter trend in nature with a 3 Wave Advance
- On 10th November, we got confirmation to Short, Price also closed below 5 Day EMA and it has turned down sloping now
- Also notice how Price cannot sustain above Anchored VWAP from the Tops
- Price is...
Price is currently resting at a Strong Support Zone, which is a confluence of:
1) Anchored VWAP Support from the May Bottom
2) Trendline Support from the May Bottom (3 valid touch points of Trend Line already done)
3) Price at Lower Range of the Box
We also witnessed a False Breakdown few days back, hence if it had to fall it would have already. So better to play...
DO NOT EVEN THINK ABOUT SHORTING looking at this Super Bullish Structure:
We have a Failed H & S Top Pattern + Falling Wedge Breakout + Inverted H & S breakout + 123 Reversal Pattern Breakout
- This Stock can head back to 1405 or even make new ATHs !
- The path is following an Ascending Channel, and looks like an easy one way trip to 1300 - 1320
- Gold prices...
Chart Data as of 25th Sept, 2020
A Classic Ending Diagonal/ Rising Wedge structure has marked the Completion of a 5 Wave Impulse
Elliot Wave suggests we are now in a Wave 2 Decline that can retrace this Wave 1 advance that just got completed
I have a Minimum Target of ~ 725 for this Decline.
Key Levels to Note:
700 psychological level
LONG TERM TOP IN PLACE, CLassical Rising Wedge or Ending Diagonal whatever you want to call it
Price below Declining 200 Day MA, also below Anchored VWAP from Feb Top
What More is Needed? I simply Warn you to Not Go Long Bata, Exit if you are already. Potential Disaster Lies ahead for Bata stock
Ever since the Rally off the March lows, Bata as a stock has been struggling and massively underperforming Nifty. Clearly something is wrong here that means, possibly a Long Term Top in place and a BIG TREND CHANGE..... as its looking Quite Bearish on the Weekly & Monthly Charts too.
Now coming to my Short Term Bearish view as per Daily Charts:
- You can see a...
Look for Buying/ Long Opportunities because:
- Price has reverted back to 20 day SMA, see the Bollinger Band, so now No point shorting for any mean reversion
- Price above 2 Key Anchored VWAP levels from Prior Swing Low base and Breakout candle (the sky blue line and orange line)
- Price is also above the Falling Trendline from 2019 Oct high, if you see the...
Rising Channel, Rounding Bottom, Cup n Handle patterns are observed.
Stock out of FnO ban from tomorrow so the rally will start now! FnO ban had put a cap to the rally despite Fantastic Q1 results, don't miss the chance now to go Long!
Self Explanatory & Annotated chart.
VWAP works really well in this stock.
We also got a VCP pattern breakout, today was a retest day, so one can go LONG now!
No Targets in mind but good chance of reclaiming prior Swing High and even exceeding it.
- Self explanatory & Annotated Chart
- Key Levels are Marked
- Enter at BO level @ 1340
- Exit at Target level @ 1445 , approx 7-8% upside
- Time Frame is few Days
- Stop Loss level for Risk as per your choice also mentioned
- High probability setup based on AVWAP Study + Multi Time Frame + Pattern + RSI
- Stock is Bullish on all time frames for a Mean Reversion...