VeerappaKaujageri

VeerappaKaujageri

NVIDIA after a recent bullish trend has formed an Expanding Flat correction. Wave (B) exceeded Wave (A)’s start, confirming this as an Expanding Flat (3-3-5) structure. Wave (C) is in progress, unfolding in a five-wave sequence. The 1.618 Fibonacci extension (~102 USD) is a key support zone, with 2.618 (~56 USD) as an extreme bearish target. A reversal...

VeerappaKaujageri

After analyzing the current structure of the Nifty 50 index, I believe we're looking at a potential deeper correction in the market. The larger downtrend has been playing out with Wave A completing at 23,263.15. We're now in Wave C, and a deeper correction could be expected with Wave C potentially extending further down. Key points: Wave 5 might be Wave 3 and...

VeerappaKaujageri

The Nifty 50 is currently taking support at the Covid-low trendline , a crucial level that has held since 2020. Despite this support, the index remains within a downward trending channel , signaling continued bearish pressure. For the upcoming week: Bullish Scenario: If the trendline support holds strong, we could see a move toward the channel top around...

VeerappaKaujageri

Wipro has shown impressive strength recently, bouncing back into its well-established ascending channel on the daily chart. Here are the key observations: Channel Recovery: After briefly dipping below the channel on January 17, the stock quickly recovered and closed back within the channel the very next day, demonstrating strong buying interest at lower...

VeerappaKaujageri

Reliance Industries (RIL) is currently trading within a critical zone that could determine its short- to medium-term direction. Here's a breakdown of the key observations: Ascending Channel Breakdown Risk: The stock has been respecting an ascending channel on the weekly chart. However, it is now testing the lower boundary of this channel, indicating potential...

VeerappaKaujageri

The Dow Jones Industrial Average (DJI) appears to be forming a classic head and shoulders pattern within an ascending channel. The left shoulder, head, and right shoulder are clearly marked, with the neckline drawn slightly below the current price level. A breakdown below the neckline could signal a bearish move. However, a breakout above the right shoulder could...