WaveTalks

WaveTalks

As expected 5th wave shall complete in the zone 95.50-97. Session High was -96.75

WaveTalks

Updated 

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...

WaveTalks

Updated 

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...

WaveTalks

Updated 

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.

WaveTalks

Trading at 92- as expected, we have corrective wave down from 93 -got it & later a bounce to 92-93 zone likely we can extend but a safe trader should lock in their profits. I am looking for a zone 95.50-97 where wave -v will measure equality to wave-i

WaveTalks

Updated 

The fall of 8968 - earlier I told -it's all overlapping & going into the zone of 8480-8490 which is a maximum downside when it was struggling last week between 8550-8600 is what I can see & going I won't be surprised if it goes for a deep retracement like 8850-8900 in coming days. The only problem is financial markets never move in straight lines so likely upside...

WaveTalks

Bank India with key level -109.45 & critical level-108- shall be heading for d-wave where it measures 61.8% of (B)-wave of the triangle. Unless the critical level gets broken- I am assuming Bank India to head upside for target zone 122-124 in the coming days where risk reward is excellent as taking a risk of 2.5% & reward shall be 10%. Incase critical level get...

WaveTalks

With the trendline support & 3 white soldiers will be interesting to watch auropharma for its up move with key level@806. Let us see if we get any retracement for going longs above 838- this retracement should not go below 806-key level.

WaveTalks

It should not move below swing low@452- key level or any move above 465.20 should be looked positive- rising channel can also be looked as good support. Likely, we have a short term low@443 but going below 452 will open for complex correction in Jet Airways. Trading Strategy Look for price to move above 465.20 for further longs or channel support as buying...

WaveTalks

Updated 

Note -Do not forget to vote for MCX & NSE F&O Data As per the last update- as expected weakness in the nifty- got the move to yesterday's low@8507 which was close to our target zone 8480-8490 (some leeway should be given to markets). What Next Going above 8550 -Likely it travels back to the previous swing zone 8610-8615 - can be expected Intraday. If It gets...

WaveTalks

Last time Bank India pushed up to 113.55 but likely some pressure is still left. One has to keep a watch on the levels above 113- Bank India Stating Above that shall be comfortable to move into the zone 122-124 as expected earlier

WaveTalks

One of the cardinal rules of Elliott waves is wave 4 can never enter into the zone of wave-1 which is 262.70. So, let us see how it moves in today's session if prices go close to 262.70 -which is a key level for us -risk is very small here but could be potential downside move Strict Stoploss- 262.70 + few ticks above 263 If it enters above 262.70 then my count...

WaveTalks

Note- "Kindly do not forget to vote for MCX & NSE F&O Data There is a magical setup of 88- why it is called 88- because it retraced prior moves 2 times to 61.8% back 2 back- so whenever you have that kind of setup -likely we see explosive move post second retracement of 61.8%- which was evident here as well. In current case- a move from 8807 to 8733 was...

WaveTalks

Updated 

Below 239- Bank could travel in the zone 236-237 but not much left downside as momentum is slowing down likely if it bounces above 240 later from the fall that could be seen as a recovery in the bank & we could see it travelling into 255-257 zone ((ii))-((iii)) wave is retraced 38.2%- This is just an assumption so let us wait for the market to show us the way...

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Likely to kiss 1.3000 mark where the structure started.

WaveTalks

One channel & so many benefits- first it worked as resistance at 20264 & gave us a fall of 1000 + points to bounce from 19059 & look the beauty -same channel acted as resistance & BankNifty made a high of 19816 -which again got restricted by the same channel giving us again 1000+ points. Will it bounce from the channel support? -Time will let us know.

WaveTalks

Well, time only can let us know whether 71-73 zone could hold the fall in ALBK. So, we can look for this zone where downtrend in ALBK could stop. "If ALBK stops in that zone & bounce is what will make me happy"- Do, you think this statement is correct- I think it isn't because emotions is what one has to keep in check -which is an important lesson -a trader...

WaveTalks

Friday, 14th Oct2016 -a non trending day for traders as markets were range bound between 8550-8600. Likely, whenever it went close to 8600- I was bearish & even after it was about to cross 8600- I strictly updated that buying will be a risky element & traders could get trapped- In last time slot, which was even evident -just went & made new high@8604 & turned...