This decline within a larger decline, is very much corrective structure. we will get one more rise above 662. closer to lower end of channel (611) offers good risk reward trade can try with stop loss at 600. Remember if you dont exit above 662 , u might get trapped as this would be just corrective rise (as per wave counts), we are likely to fall below 600...
Decline from 1682 high appears to be a perfect channeled correction. today it hit the upper end of the channel, next we should see a move towards the lower end of channel and then complete this correction. 1st trade - short at 1650, stop loss 1667, target 1592 2nd trade - buy at 1592, stop 10 pts below channel, target all time high
Current we are in short term uptrend. Our primary view remains that short term uptrend might have topped today. IF we fall below 9613 with a faster retracement then it will confirm that short term trend has reversed. failure to do so we should assume we are still in uptrend. Reason behind such view - Fibonacci time wise , Wave A= wave B internal also we can...
Today's intraday sqeez appears to be a triangle,Last hour rise was broken on the upside of the triangle.Hence if 9614 doesnt break on the downside and we move past 9650, then that upmove could be the last rise before we see a reversal. As per closing data, the short term trend remains up.If the rise continues further. then 9614 should be used as reference for...
Short term trend is up. No sign of trend reversal yet. Next 2 days should give a clue on medium term direction. if Nifty fails to move above 9700 in next 2 days, the rise from 9448 should be considered as corrective, Which implies that we will get one more move down below 9448, targeting 9405 levels.
Hangseng appears to be forming a complex corrective pattern, which can be nicely channelized , Traders can buy when index hits the lower end of channel (24500 around). This index will make a new high once consolidation is over (26000+).
Decline pattern appears like a corrective wave pattern, if true then it should hold trendline support around 191-188 and move towards 215. traders can keep a stop loss at 184
Yesbank has done a 4 day high today. it appears that we might get a corrective rise till 1560-1570 levels. Traders can buy this with a stop loss of 1426
As per above wave count, sbi could either move to lower end of the channel (281) or break the channel and head to 266 levels.. to expect price of 266, broader market should confirm downtrend
Acc price action looks corrective rise , Either it could move to lower end of channel or break below channel and move to 1505 levels. 1740 stop loss.
As per observations and wave count, one more rise expected in this counter. 467 remains the stop loss, entry can be planned in 2 ways either use channel break for entry or lower end of channel, as per your risk taking capability, one should target 570+
If 346 holds then we could target upper end of the channel, traders can look to buy at current levels and target upper end of channel, 346 remains the stop loss
Short term trend has confirmed a reversal today. First sign of reversal was break of 0b line. When last wave down (9575 to 9448 ) was fully retraced , we got a 2nd confirmation of reversal. Going forward, its not clear weather this upmove is a corrective bounce or a new upmove has started. Whatever may be the case, its good consider that we are in short term...
If 215 doesnt cross, then we can target 198. Shorting opportunity
2 possibilities from here. a) we could be forming a diagonal triangle, with abcd waves completed and wave e pending with a target of 9430-35. This count remains valid till we dont go above 9575. b) if we go past 9575 , then it would mean that 9448 (today's low ) was atleast a short term bottom. we could either be making a sideways time consuming b wave or a...
Wave pattern suggest that last 2 days rise was a corrective structure. i am of the view that this corrective pattern likely to continue for next 2 days. see it forming wxy pattern , testing 9600 levels. once done we will break 9473 and target 9405. According to above view, prefer shorting at upper end of channel and covering at lower end of channel. (This is only...
a) If nifty opens at 9480 levels , then one can trade long with 10-15 pt stop for a target of 9520. Again go short at 9520 levels for lower target of 9403 (This should be the plan and u can change your plan as waves unfold). b) if nifty opens at 9520 levels, one can open shorts, for target of 9403. c) if nifty opens below 9470 levels ...avoid and wait till waves...