Likely Axis Bank too is giving an impression of a triangle in current wave sequence. Let us see whether Axis Bank gets support above 513-which is key level & recent swing low. Trading Strategy 1 513 -key level as short term support - we could see a bounce in the zone 530-535 zone. Trading Strategy 2 Once it goes close to 535-540's zone - Keeping 545 as...
On Monthly Chart, Reliance Industries also could be in trouble unless the market proves me wrong & reliance starts moving above 1145- which is the key resistance level for me. If reliance leaks downside, below 795 then selling pressure will increase- confirming that it was a B - wave triangle & it is heading down in a C - wave & likely to travel 61.8% of A-wave...
This stock looks like travelling in B-Wave Triangle which will be valid till the top@199 is intact. Intact means KB should not close above 199. If KB respects the trendline coming from 210-199- Likely I am expecting C-leg to finish this sequence which started from 285 highs in 2008. This stock will be on radar & shall wait to see its price action in coming days.
From lows@18824 - I have just tweaked my counts as W-X-Y pattern where W- wave divided into a-b-c count internally. X-wave made a low@19322-driver's point as per previous update. Y-equals 61.8% of the W - wave in the zone 19780-19800. Zone 19800-19820 is also important as it is confluenced by earlier supply zone@19816- from where BN had a fall till...
S-L- Short First -Long Later Trading@8712 As expected in yesterday's update of nifty- 8727 is a key level till this level is intact, we are having a triangle at hand- vow once market opened nifty went close to 8727 & made session high@8723 -giving us d-leg of the triangle- amazing . These are amazing risk reward opportunities with a risk of 4-5 points -Nifty...
From the Bottoms@8505 lows- Possibly we could be travelling into B-wave Running Triangle, which is premature to consider & an upside thrust above 8727 highs will be expected -if this turns out to be a triangle. I will confirm a running triangle if Nifty spends some more time tomorrow between highs@8727 & lows@8650 without breaking either side- that is what a...
It clicked on 161.8% - Bank India Kissed 115.50-115.70 zone as per previous update- Next we will buy above 115.50 only. Remember these are fluctuation moves or trades. I have given long term view in which Bank India should touch 122-124 zone got activated between 110-112.50 zone with critical level@108 & key level@109.45.
Gold with low@1243$ -immediate focus is upside once 1264$ swing is taken out- likely it travels to the zone 1285 -1290$- Rally upside can even extend.
(( )) - means circled Yesterday, It was really exciting day- When Nifty travelled from top 19500-19570 zone's to 19300-19325 which I expected it will travel 38.2% of the rise from 19000 to 19512 (19512 was the last high available to me before market opened yesterday) but hardly any difference as BN opened at 19571 & started falling so our zones 38.2% would hardly...
From the lows@8506 to 8698 -yesterday Nifty retraced till 8636 & gave a sharp bounce till 8688 & falls to 8656 back again. Likely it's a correction going on & contained in the channel. I am not relying on the channel much as it very premature to even guess what kind of correction will shape up. So, Likely we should wait for highs@8698 to cross for taking long...
When other colleagues are dancing & enjoying- this poor fellow was on fast yesterday on account of an auspicious day. Likely moving in a range bound market so it could be his turn to dance. It travels 161.8% in 115.60 -which could be a good start for longer term target zone of 122-124 from previous updates. Triangle in Bigger Picture with key low-109.45 &...
As explained earlier, it is a recovery rally to low made@443 from highs@562- expecting a bounce atleast till 500-505 zone- one should understand trading corrective waves is always will be tough. Trading Strategy Either wait for the bounce in the zone 500-505 for a bearish opportunity or going below 452-450 will indicate pressure in the stock & by that channel...
It all started when I wrote about this stock with seller's paradise 81-83. We saw the fall in the range 71-73 (As per closer look)- which was internal ii-wave & later explosive move iii-wave then pullback to 85-86 in internal iv-wave & finally v-wave at yesterday's high@96.75. I have shown by arrows how we travelled in internal waves back to back. What Next On...
Long Back when Auro Pharma was trading at 770's - I was looking out for the last leg upside post-e-wave of the triangle in larger degree 4th wave. Likely we got the move also & Auropharma made new high@895 which was close to previous high@891.50. Prices got rejected in the zone 890-900 likely indicate that auropharma could have already topped@895. Fall looks...
As expected 5th wave shall complete in the zone 95.50-97. Session High was -96.75
Last Price-19450 As expected in morning that Bank Nifty will retrace to the zone 19300-19325. Amazing, It dipped to 19322- today's low. How exciting is this when one sits in the driver's seat as you get hold of the steering wheel, but yes you have to be careful while driving & only experience can work. This morning prices opened gap up@19571 & it has been...
Likely BN has started its rally from 18824 lows & has an impulsive look- In today's session, let us get some retracement in the zone 19300-19350 where it should not overlap 19240 which is laxman rekha for me-otherwise I will have to do analysis again. Trading Strategy Let us look for retracement of 38.2 % to 50% of the rally from 19000's lows to 19512 which...
Looks like its subdividing into its 5th wave at micro degree. Till the time 265-266 is not breached I will look upside till 274-275 as 1st target zone. Counting waves at such a lower degree is a nightmare, but I am doing my best. Incase 265 is hit before going to 274 -275 zone, then I will have to look at the price structure again. Key Zone- 265-266.