WaveTalks

WaveTalks

Updated 

At 285 -recent high- SBIN has measured the equality distance of wave-1. So, we should be careful in the current scenario as most likely- SBIN can end its upside sequence-1 of the larger wave from Triangle Bottom. It's too early to say anything from smaller view which needs market reaction- to confirm whether it has put a short term top or not. Is The First Leg...

WaveTalks

Last Time Picking Dabur at 287 was in the middle of yet to complete ((iv)) the wave -which at recent high@305 looks to complete an internal wave B- which was very choppy. I shall be looking for wave-C in the zone 275-280 Trading Strategy Let us wait for bounce close to 305 & then if it falls below 297-295 zone shall give confidence that it's looking down for...

WaveTalks

As expected the push in ii- wave- the bounce from the zone 10180-10212 was rock solid, but small issue as my key level@10730 has been broken on top so likely I will wait for the market to show me its direction further- which I will be searching on the downside. So, Let us wait for further clues from the market.

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Awesome channel- as thought it will get resistance between 490-495 (Villain Channel as per the updates in below chart)- Vow, it made a high@492.45- Unfortunately, Gave a gap down opening finished its final leg in A-Wave since top@639. Intraday, we were trying to short with a risk of 2 points, which got hit @491.50 but that's part & parcel of the game. Larger Term...

WaveTalks

Updated 

The bears got trapped through FBI at 8400- which was surprising for bears & they got squeezed in today's session as well with most of them putting stops above 8550- Market travelled marginally above 8550 & made day's high@8559- finally to close at 8543. We are standing close to very important global event outcome- U.S. Elections which everyone might have set...

WaveTalks

Updated 

Its a tripple correction (W-X-Y-X-Z) started from 229 highs, which is unfolding in BOB- likely the last leg Z-wave downside which itself will be complex zigzag move going into June-July 2017- likely to test 80-90 zone.

WaveTalks

Updated 

If Nifty fails to bounce back above 8550- Alternate Count- More Bearish Case - labels with pink color. Which is an important clue to me as per my primary wave count- from 8968 to 8506 as larger wave-1 then a bounce back to 8737 (W-X-Y) giving A-Wave (Alternate Count- wave-2 finished at 8737 highs)- we are in smaller wave-(i) of wave-3-- Output- We can expect...

WaveTalks

Updated 

As expected on 14th oct2016- TCS to kiss the zone 2250-2260 which could be the zone for taking longs- here we go, it kissed 2260 & bounced. It's an eye popping risk reward as turning from 2260 -likely we don't have any risk or marginal risk of taking longs

WaveTalks

Updated 

Once BN starts moving above 19252 & also goes into the gap zone -likely it will comfort bulls for bounce back in coming session. In the last session, BN had a nice bounce from 18960's to 19080's- if it dips on Monday close to 19000 & starts moving above 19100's then most likely its an early indication that BN wants to jump up later we will watch for 19252 levels &...

WaveTalks

Updated 

Any move above 8550- bulls shall be in more comfort zone for short term duration. As expected months up the line- that this structure could be an irregular correction & likely running into C-Wave- which also has a similar personality to 3rd waves & can easily deceive bulls -indicating that everything is correct at the back end but what need to take care of is...

WaveTalks

Updated 

(L-S)- Long First & Short Later The fall of 10730 was impulsive & almost came close to prior swing low@10190. Recent Low was 10212- Likely looking for a push upside on account of U.S. Elections -which could be short lived, so if DAX fails to cross 10730 or go close to that end- looking at all possibilities, we should avoid taking any long positions in the zone...

WaveTalks

Updated 

It's an irregular correction from lows@88.20 in 2008 which has taken shape of W-X-Y sequence. Y-Wave is currently in progress since bottoms of 106.50. This irregular correction is 3-3-5 sequence - 3 internal waves for W-wave -- 3 internal waves for X-wave till 106.50 & Currently on impulsive 5 wave move for a larger Y - wave. This is irregular correction is...

WaveTalks

Updated 

It seems that it has put an important low@240.35- Today's gap between 243-245 zone should hold for further up move which I am expecting above 265- initial target zone should be similar highs at 271-272 zone. Intraday session-if SBIN dips in the zone 245-247 can be looked as buying zone with no close below gap zone 243.

WaveTalks

Updated 

Last Price@478.70 As per monthly update- suggested that any close below 540 can trouble the bank- look its almost got 2 big red candles which surely looks impulsive downside. What Next? Trading Strategy-1 Going below 473- It's likely that Axis will continue down & make new lows below 468 Alternate Trading Strategy It's a risky call with stops below 473-...

WaveTalks

Updated 

Likely, we will expect a bounce which could retrace 38.2% to 50% of ii-iii wave distance & can travel in the zone 1045-1050- which shall be inspected again for bearish future moves. Trading Strategy 1000 is the key support level - holding that level downside- we will expect a bounce in the zone 1045-1050 & sellers could come into play in that zone- which I...

WaveTalks

Updated 

I am not different than others & me to get trapped because of the emotional content which is the worst enemy of any trader, but I always avoid & most of the time- I very fortunate with key levels- which was evident yesterday as well when I wrote Nifty is struggling to cross 8670 before even it could turn around- Later in the day, It turned out to be one of the...

WaveTalks

Updated 

Can Earlier Resistance Play support for Ambuja Cement. Z-Wave to start above 280 Three Mountains

WaveTalks

Updated 

It's a complex correction W-X-Y (Where Y is taking the form of a triangle) in Dollar Rupee- likely giving us 2 clues -which I have my eyes set on. Either it breaks 66.20- Key level & 65.95 critical levels on a daily closing basis, then I will really think that Indian Markets are bullish. Else If dollar rupee breaks on the upside, above 67.15 -then likely...