We will wait for going fresh longs which can be done only above 338 marks. From 283 bottoms it looks choppy structure & it is hard to trade such moves in the short term. Short Term Strategy If sustains above 310- keep strict stops of recent swing low & look for the zone 319-322 if holds on top & falls below 320 then keep stops of recent swing high & sell for...
Running late in the bulls camp shall not make one happy as indices are posed for correction in coming days in early 2017 so keeping that in mind, IGL is no different than others & It has been close to finish its blue wave-3 in the zone 940-960 where it travels 200% of its respective wave-1 & can over shoot as well, but be careful when you see this stock getting...
If It starts trading above 1070 & sustains above that level next zone could be 1085-1090 & going above 1100 can take it close to previous highs of 1130 but should not cross above 1145. Previous Analysis Below- Click the chart & use load bar feature
Monthly Chart Since Late 2008 -Maruti from its low@433 had travelled almost in an explosive manner upside, giving us wave-3 which travelled 361.8% of Wave-1. Recent Month Fall was impulsive down likely finished wave-(A) & travelling in wave-B- Once Wave B is done on Top- We shall have wave-C downside hitting in the zone 3000-3200 where it travels 61.8% distance...
Heading Close to important swing low@113.75- if it fails to take out that level- traders can keep a close watch for bulls returning above 113.75 level intact. In previous update- expected bullish move only above 146 but it did not sustain above that level & Bhel slipped down. Trading Strategy Traders can look to buy with strict stops below swing low@113.75 but...
Nifty has a key resistance zone 8020-8025 & critical resistance 8055-8065. Any bullish opportunities should be looked once it crosses above 8055 mark. Holding above 7900- It can look for a bounce again in the zone 8000-8025 & it should not move & sustain above 8025-as that will be the initial clue that critical level could also be breached. Going in the zone &...
Since Sep2005 highs@115- SpiceJet has been moving sideways between upper boundary 100-115 to between 10-15 as lower boundary. In short term chart- there is a double bottom of the zone 54-55 zone, which is yet to finish its larger E-wave & biggest opportunity of the decade could be knocking your doors in June -July 2017 in the zone where E-wave completes 61.8% of...
From Previous Update- If BOB would have sustained above 177-178- shall have travelled upside to channel top but bears never allowed BOB to go above 177-178 zone. Almost a month have passed & BOB travelled from highs of 177-178 again into a very choppy & corrective sequence till today's close at 147. Trading Strategy BOB has last hope to bounce from 144-142 zone...
From my previous updates, "Bounce from 380-382 zone- it was a complex correction in Tata steel which travelled ((w))-((x))-((y)) wave-2 & completed at 435 levels. ((w))- started wave from 380 lows where wave-1 got completed from top@441.50 top after completing a wedge pattern- which I have told in the community- its a wedge pattern which is unfolding here so...
Its a complex irregular correction going on since lows@7915. From previous update, "Use the bounce 8000-8025 to sell"- Nifty made last sessions high@8022 & slipped below 8000 mark. What Next? Likely we should not take any long positions unless 8055-8065 zone is taken out convincingly as updated last because zone 8050-8060 was intact for several bounces & now...
L-S- Long First & Short Later Since Aug2015 Highs of 375- Adani Ports have been moving into larger corrective structure & likely to touch 100-120 zone in the coming years where (C) wave will measure the same distance which has been travelled in Wave-(A) at lows@170 from high@375 forming a double bottom. Since double bottom- it was again an irregular structure...
(( ))- circled wave Corrective Wave, which started from 930 lows has fulfilled the minimum criteria of kissing the zone of 1035-1040 as expected in previous updates by making a close recent high@1032- where it travels 61.8% of ((ii))-((III)) wave distance & could be a double top which is not confirmed yet. Trading strategy It should hold below 1030 to give us...
Last Important Support which was updated in previous ones was 8050-8055 as soon as it got broken the downside possibilities became more. In yesterday's session, it made a low 7965. Trading Strategy- Looking to Sell on Bounce If it bounces close to 8000-8025 zone use the stops above 8065 which I have kept 10-15 points above important zone of 8050-8055-as any...
3 times bounce from the zone 290-305 zone has formed good support- so, it has started a new leg upside which is again choppy & likely into its Y- wave above 350 which has upside room to kiss the zone 435-445 where it will retrace 61.8% of the fall from 531 highs. Largely the trend is down so we will look for a push down in couple of months down the line- if it...
Last Traded Price was 67.85- As per previous update, look for the zone 67.15-67.41 as key zone & 67.15 as critical level where Dollar rupee likely to bounce as that zone troubled for a good number of months acting as resistance zone & most likely to form support so they have changed their role from resistance to support- that is called polarity reversal. Related...
A short term bounce can be expected if it holds in the zone 8105-8115 without taking out 8090-8094 zone which is important. 8094 was yesterday's low. Also, be careful of the risk downside, below 8094- can keep a buffer of 4-5 points like 8089. If the zone of 8090-8094 is intact, then short term bounce could be expected 8180-8200. Trading Strategy Look for...
Polarity Reversal Zone of 25-30 where zee media had support in 2008-2009 became a resistance zone in the year 2016. Zee Media beaten up badly in the year 2008. So could be stocked in one's portfolio once we cross into the zone likely 30- Can it move up-up & away- well time will let us know.
As per previous update- bounce expected between the zone 855-870- Got the hit for 867 on 15th Dec2016. What Next? If it starts falling below low@830- then likely it will indicate that it's looking for a new low below 805. Related Analysis Attached Below About Bajaj Finance- Click the links below to get the chart & load the bars to see how it moved