WaveTalks

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

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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...

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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.

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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...

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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.

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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...

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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...

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Finally Today Jet Airways landed @449- vow -completed its 5 wave sequence. Let Jet Airways Take off in a retracement to the leg, which started from 560's highs which was an e - wave of the X-triangle. We shall look for retracement 50%, which comes to 505 & 61.8%, which comes to 518-520 zone. Larger Picture -A Triangle in Jet Airways-- we are travelling in y-wave...

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Breaking of channel & moving above 956- It will put its gear on.

WaveTalks

Vow these key levels work so beautifully sometimes- that there are no words to explain them.

WaveTalks

79-81 is sweet spot or could become reversal zone but need price confirmation so we will wait for the green signal from the markets.