Stock is rising in an impulsive manner and from the highs of 588 stock has completed an expanded flat correction. After an expanded flat correction the post market reaction is sharp on the upside. Hence, one should look for buying opportunity in the stock for the upside target of 625/650. TRADING STRATEGY: STOVEKRAFT: BUY ON CMP (579) SL: 550 CLBS TGT: 625/650
USDCHF has concluded a FLAT structure and is rising in an impulsive manner in a parallel channel. The impulsive nature of the rise from the zone of 0.9500 suggests that the pair is likely to continue the uptrend towards the level of 1.0100 in the coming weeks. One should look for bullish opportunities for trading purpose. TRADING STRATEGY: Go long on dips...
Theory: DIAGONAL: Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory...
Take it as Double top or a Head and shoulder, the stock has broken the neckline and is re-testing the same near 256-260 zone. One should go short on the current levels and look for the target area of 200-197 in the coming weeks. Maintain SL of 280
Stock has given a breakout of a triangular structure . One should go long on current levels maintaining the SL of 2300 and look for the target of 2675/2845 in the coming days.
The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. It was developed by William O'Neil and introduced in his 1988 book, How to Make Money in Stocks. As its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As...
Stock is showing a recovery from the oversold region and is likely to retrace about 50%-61.8% retracement of the prior fall. Trading Strategy: Buy with SL of 1525 and look for the target of 1680/1700-25.
Trading strategy: Buy with SL of 2280 and look for the target of 2700/2900/ and 3050 the measured target . Theory: The symmetrical triangle, which can also be referred to as a coil, usually forms during a trend as a continuation pattern. The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as...
From the highs of 1375 stock is declining making lower lows lower highs which suggests that stock is undergoing into a short term corrective downtrend. From ElliottWave perspective stock is forming a double three correction (WXY) of which wave-X is already concluded at 1093 and right now stock is unfolding its wave-Y which shall bring the prices towards 700-650...
Inverse Head and Shoulders This pattern forms after an extensive downside rally. It consists of a left shoulder, a head, and a right shoulder. The left shoulder is formed after a big bear rally in which the volumes are quite large. At the end of the left shoulder, a minor correction takes place on the upside which happens on the low volumes comparatively the...
Chalethotel stock is rising in an uptrend forming higher highs and higher lows which is the basic definition of an uptrend. Stock has given a breakout on the weekly time frame and can be bought on cmp for the Tgt of zone of 380-400 in the coming weeks. Stop loss should be 290.
LICHOUSING stock has given a breakout of the Bullish FLAG on the lower time frame . One should go long with SL of 320 & look for the target of 355/360
USDCAD trading in a parallel channel and it looks like the correction is still pending. Rejected from the previous resistance zone USDCAD is likely to trade lower in the coming sessions. Trading strategy: Keeping SL of 1.295 any rise should be taken as selling opportunity for the target of 1.28500/ 1.28000
Theory: DIAGONAL: Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory of...
The current upmove is just a retracement going on of the previous fall. Bears will soon take the control over the index in coming weeks for more downside levels. The bottom is not done yet.
Stock has breached the neckline of the H&S on weekly time frame.
After a strong rally , USDCAD currency pair has formed an Expanded flat structure and is likely to trade lower in its wave-c in the coming trading sessions. Go short on cmp with SL of 1.30800 and look for the tgt of 1.28500
Stock has broken the important support area of 200 and is vulnerable to get more sell off in the coming months. Any rise should be taken as exit/selling opportunity as the stock is heading towards its previous support zone of 160/140 area. On the upside 230-245 will act as a strong resistance in the coming months.