TangoTrader22

TangoTrader22

At the onset, I want to make it clear that EW count on hdfcbank is a tough job because of the exponential nature of the price curve. What i have presented below is just a thought experiment. No trade is intended or suggested. The chart here is the post demonetisation rally (jan 2017 onwards). 3 waves seem to be complete with wave 4 underway. My basic premise is...

TangoTrader22

At the onset, I want to make it clear that EW count on hdfcbank is a tough job because of the exponential nature of the price curve. What i have presented below is just a thought experiment. No trade is intended or suggested. The chart here is the post demonetisation rally (jan 2017 onwards). 3 waves seem to be complete with wave 4 underway. My basic premise is...

TangoTrader22

Axisbank has seen 3 days of sharp decline. It took a momentary pause at 504; below are some reason why I think 504 was imp 1) Based on pure price action 504 was a support level 2) EW count - as seen in the chart C=1.618A at 504 3)In the zoomed out version below, we can see that 504 was the level where axis broke out from a falling trendline A green open on...

TangoTrader22

tatamotors is sitting at some decent support levels. Bounce possible

TangoTrader22 Updated 

Hope chart is self explanatory... I expect a gapup tomorrow ( sort of an island reversal)

TangoTrader22

~22500 levels should offer some support...given the high vix, this could come next week itself!

TangoTrader22 Updated 

On long term charts, axisbank might be completing wave 4....if 490-500 zone holds, we can see a fresh bullish moves beyond All time highs.

TangoTrader22

Auropharma long term charts suggest that we might be at the beginning of W5 in the super cycle Hope the charts are self explanatory

TangoTrader22

LT is trading above a 6 month old support zone . One can go long with a Stop loss just below recent low.. If it breaks below support zone it can be shorted

TangoTrader22

relinfra is consolidating inside a triangle..It is also being held down by a falling trendline resistance. Wait for BO from the triangle..then buy for target of 500.

TangoTrader22

Axisbank brokeout from a falling trendline resistance..Also note RSI divergence... Offers a chance to go long with a very small SL.

TangoTrader22

Indusindbk has formed a bearish head and Shoulders pattern. Could be shorted with SL just above the neckline.

TangoTrader22

ICICIbank has possibly ended a ABC correction. Upside likely from here

TangoTrader22

CNXpharma has possibly bottomed out at 8315; atleast for the medium term 1. Completion of ABC correction (A=C) 2. Recent low at 8315 sits rights above a major consolidation zone 3. Recent Low also falls along a trendline support 4. RSI divergence on weekly and daily charts A full EW count is not possible since the index is barely 4 years old and its...

TangoTrader22

EW count should be self explanatory. Target is based on the Breakout from triangle consolidation on weekly charts.

TangoTrader22

BPCL has completed Cycle wave 3 earlier this year. W5 of this cycle W3 was substantially extended. Consequently the correction in the form of W4 would also be substantial. As shown below in the 15 min chart, first set of ABC correction is already complete. The stock should now consolidate for next few days with upward bias. Consequently, the strategy here...

TangoTrader22

Copper has completed abc correction that began in early 2016. It is also at the top of a LT channel. Copper seems to have started a corrective (possibly impulsive) move from 2.8 highs; this should take it to a target of 2.49 in the short term(also a strong support zone)

TangoTrader22

Biocon is in the midst of Cycle wave 3, consequently we have seen solid momentum since early 2016 in this stock. Hopefully, the EW counts are self explanatory. We should see a pause to the rally in the short term.Traders should short the scrip for targets below 1000 (possibly upto 900). Investors can accumulate in 800-900 range. Note: This post is only for...