UnknownUnicorn4260559

UnknownUnicorn4260559

Hero Moto is standing at trend line support of 2450-2460. It has still not come out of downward momentum but 2460-2470 can be used to initiate a risky buy position with stop loss 2410 for 2700. Overall 1st sign of reversal will be seen only above 2595 and 2nd above 2760. If it doesn't come to 2460 and before that move past 2595 then buy with stop loss of 2540...

UnknownUnicorn4260559

Bank Nifty has maintained breakout of ascending triangle by not closing with the support line (blue). Many analyst won't consider red as trendline but through out past experiences we have observed that trendline which has started some where in the mid of trend gives much strong support than the trendline which started at the initial stage. 29180 (50 DEMA) and...

UnknownUnicorn4260559 Updated 

Trade short till the time Nifty is trading below 11635. Add more short below 11570. Buy only above 11635 with stop loss below 11570.

UnknownUnicorn4260559

Range $15-14.30

UnknownUnicorn4260559 Updated 

Bank Nifty is trading in range of 30060-29580. Either side breakout will decide the trend. Sell below 29580 with stop loss of 29750 for target 29100. Buy above 30060 with stop loss of 29900 for target 30500-30700.

UnknownUnicorn4260559 Updated 

Silver looks to have formed bullish Wolfe Pattern on daily chart. Breakout has already taken place. Silver should touch $15.65 by ETA of 13th May 2019 (converging point of wedge). Wave 1 took 11 days , wave 2 took 11 days, wave 3 is much shorter and took 4 days (aberration), Wave 4 took 10 days. If we go for symmetry then we won't find as Point 1 to 3 took 22 days...

UnknownUnicorn4260559

Nifty has formed symmetrical wedge pattern on hourly chart. Tomorrow's range will be 1/3 of the base of wedge which is an ideal situation for either side breakout. 11790-11800 is the higher resistance zone and 11700 is the lower support. Height of the base is approx. 260 points. You can add or deduct 260 points to obtain target after breakout from the pattern. SL...

UnknownUnicorn4260559

Sell Nifty spot below trendline support of 11697 with stop loss above 11740. Target 1 - 11657- Tgt 2- 11620

UnknownUnicorn4260559

Maruti has a tendency to reverse towards 10 & 20 days EMA if the gap between 10 EMA and price is 7-12% . It has taken support of 78.6% retracement of entire rally from 6300-7500 wave. Today market opened with gap but recovered from the low and now trading near day's high. It has also respected trendline support. All these looks singal of reversal towards mean and...

UnknownUnicorn4260559

BN's range on monthly log chart is getting narrowed which is now standing at 32000-24000. Risk to reward ratio is now skewed towards risk. Let's see how things pan out in next couple of months. On daily basis if it breaks 29400 then expect a deeper correction towards 28400 range with stop placed above 29750.

UnknownUnicorn4260559 Updated 

In our last post we had mentioned that since the major bottom posted in Oct 2008, Nifty has been following Fibonacci time series. In continuation of that report, we would like to put stress on correction time of Nifty post Fibonacci timer series point. Correction during time 2 to 3 took 13 months , 3 to 4 took 8 months and 4 to 5 took 13 months. 8 and 13 are part...

UnknownUnicorn4260559 Updated 

MCX is on the verge of breakout on log scale. Today's close above 835 would be the confirmation of breakout. Volume is increasing in last few days and today's volume has crossed last 20-25 sessions daily volume. 833.40 is a resistance zone from it had corrected last time. Stop loss of buy would be 760 for 1st target of 920. However, log scale breakout is a major...

UnknownUnicorn4260559 Updated 

Bank Nifty has broken out from Ascending Triangle on daily chart. Index which was sustaining above 20 DEMA in this bull run has just closed below it. RSI is showing negative divergence on chart. Target of the pattern in 28400 which was the high of bank nifty in Aug,18. Ascending triangle is continuation pattern but can be traded to either side breakout from the...

UnknownUnicorn4260559 Updated 

Bajaj Auto has broken out of Symmetrical triangle on 30 minutes chart. Volume on breakout is high which suggest that upward momentum will continue for time being. Buy Bajaj Auto in 3095-3075 range with stop loss below 3040 for target 3200.

UnknownUnicorn4260559 Updated 

Oriental bank moved out of upward moving parallel channel but couldn't sustain it for more than 2-3 sessions. Selling is advised below the low of candle (107) which moved out of the pattern first time. Target and stop loss would be 99 and 110.50 respectively. Fall could be steep once it close below 98.

UnknownUnicorn4260559 Updated 

Maruti has broken major support of 6900 and now trading at 6880. Stochastic is in oversold zone but not has moved above the signal line. RSI has shown positive divergence on hourly chart post which Maruti jumped Rs 150 in 2nd last hour of today's trading but counter couldn't hold upside move and fell with heavy volume. Next support is 6780 which looks like...

UnknownUnicorn4260559

Silver is trading near the support of Golden Ratio (61.8%). Silver had faced hurdle at $ 14.60-15 range when it posted bottom at $ 13.89. It has now become support zone.White metal has bounced from 61.8% retracement of rally from $13.89 to $16.21 which is $14.78. Resistance on higher side is at $ 15.12 and $15.40. ROC and Stochastic are showing positive divergence...

UnknownUnicorn4260559

It is evident from the chart that Nifty is making Head & Shoulder pattern. Neckline breakout will be on hourly close below 11580. Stop loss should be 11761 but trader can also observe 11670 as the stop loss for target of 11200. Note : Break out is yet to take place. Hourly close must be observed or trader can wait to sell below 11550 with stop loss above 11625