WaveTalks

WaveTalks Updated 

It's a triangle which we traded & trading a triangle is extremely tough but fortunate enough to figure out correctly, so entered at 8580 & exited at 8635 in the c-leg which completed When we break 8540 -we will surely go down so let us wait for Monday 3rd Oct2016. Regards, Abhishek H. Singh, CMT

WaveTalks Updated 

PFC- Power Finance has traced out a triangle on monthly chart - I shall look for key zone 172-173 to be breached on top -if at all it wants to move up. When PFC goes past 172-173- Likely for a couple of years, it shall stand as good stock.

WaveTalks

Well From the last update- As per the expectation- (b) looks to complete at 1305 & On Account of surgical operations on expiry day-29thSep2016- Yes Bank Melted from tops of 1305 to 1211- could be the start of down move & part of (c)-wave but its too premature to say anything at the moment. It will likely be clear once it starts falling below swing low@1241. Will...

WaveTalks Updated 

Hope - No one got trapped on the wrong foot because 8690 was crucial level as soon as that level was taken out -selling pressure increased & prices rushed downside -almost 200 points fall- vertical fall Now this vertical fall looks like a (iii) wave for the sequence started at high@8968-69. We cannot judge how long this (iii) -wave will be but in general moves...

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Trading@1.3156 Early in the 3rd Wave with immediate support@1. 3048. Once UCAD starts moving above 1.3184- it will give firm footing, but careful- it will retrace in 3 waves post creating a high above 1.3184 -One thing to be taken care -correction which happens should not take out the low@1.3048 -which is critical going forward. Previous Update

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Tata Steel -last time was picked right at the bottom, but one should not get excited as I am used to such excitements & money which follow. I am taking this structure as a complex W-X-Y structure unless the market proves me wrong by going below 366 -swing low in that case our 2nd wave is done at recent high@383.85 & we will start most exciting wave downside for...

WaveTalks Updated 

Looking for Gap to be filled & retrace in (iv)th -wave. These counts can go wrong, so kindly use your basic analysis as well to confirm. There is a trendline which will be one of the clues to go short with stop above 318.85. Post breaking the trendline -sometimes it goes & touches the trendline but this time trendline will form a resistance for prices-that...

WaveTalks Updated 

Day's High- 1274.80

WaveTalks Updated 

Nifty has been falling from 8893 top & made first low@8837 - I just waited to see the price action it retraced till 8885 I just took a trendline drew on that retracement from 8837 to 8885 (red trendline) - later when prices made a low 8715 & started moving up - I again waited but this time what I did I copied the red trendline & placed it at bottom of 8715...

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Trading@1.3217 Prices falling from 1.3280 looks very much corrective so in that case -there could be alternate count also- which will suggest that iii-wave could itself be subdivided this count is valid only with support @1.3164 intact. Any move above 1.3280 - will likely push prices up & suggesting that there is demand for dollars.

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A Beautiful Picture in Bank Nifty -will it get completed in the zone 19350-19400 zone

WaveTalks Updated 

Nifty is running in pullback - going below 8733 shall confirm a downside for target zone 8660-8670.

WaveTalks Updated 

BN-Bank Nifty At a minor degree there is a triangle which is tracing out in 4th wave -if correct -let us be ready to see a downside thrust below 19575. Be careful with levels. Once it gets activated below 19575 likely BN should touch the channel bottom, which comes in the zone 19350-19400.

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Look the jump in MRF Tyres from 45500-45600 zone to 46900 zone- isn't this amazing. You feel pumped up with just one analysis & excited to do more. Thanks for Support

WaveTalks Updated 

Likely we are travelling in B-Wave from 1449 top- which has completed A-Wave@1155 lows- Now we are travelling into B-Wave which is incomplete looks like it will subdivide itself into smaller a-b-c move. Trading opportunity There is flag forming -once it moves above 1250 -one can take 61.8% distance of the pole which is shown as blue line before flag as a target...

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The Way it started falling suggest that we have completed bigger 1st wave from 1.3000 lows so prior which comes at 50% retracement zone 1.3135-1.3145 should be looked upon as halting zone. The fall has to be corrective sequence -meaning down -up, down a kind move to reach 1.3135-1.3145 zone.

WaveTalks

T.T. - Traditional Trendline There is always a lesson to be taken home & become a more wise trader rather than playing for small movements. Here is the lesson which TECHM offered us When I came up with a tripple correction sequence unfolding in the stock few days back -I was very clear in my plans that we should look to buy TECHM only if it goes above 476.50...

WaveTalks Updated 

Strategy-1 (Long) IF SBIN moves above 256.50-257 zone, which was rejection zone yesterday- can go to fill the gap area between 264-265 once it gets activated -one has to put strict stops below 253 as the markets could be volatile. Going Forward unless we get a close above gap area - we will maintain the bearish view in SBIN & open with downside target as...