Polarity Reversal Concept of Polarity Reversal is very common & should be used by investors. This weekly chart of United Spirits topped in the zone 2100-2200 in year 2007-2008 & acted as supply zone also in year 2011-2012 start- The same zone in Aug -Sep2016 acting as good support where demand is coming for the stock. So, The zone which acts as supply zone turns...
I always suggest to every trader - look left & trade right. Zone 8767-8770 was previous hurdles -which could become the key for the lock allowing Nifty to move up & kiss the channel resistance zone 8820-8830 as per earlier report mentioned below. Regards, Abhishek H. Singh, CMT
Key Resistance -503 Post leaking from the Triangle, Jet Airways made a low@453 & retraced deep to current high@503 which is 61.8% ii-iii wave distance. Candle shows rejection in the zone 500-503. Likely we will continue in the final leg, possibly below 453- which will be confirmed once it starts moving below 486 -which could be a possible hurdle in the fall. ...
HDFC is close to an intermediate degree wave-3 & Divergence on momentum indicators supports the outlook. Going Forward -We shall look for 980-1010 zone as a buying zone. Regards, Abhishek H. Singh, CMT
Nifty if holds the gap as support which is 8745 & moves above 8760 or stays above that level- likely it will go into zone of 8800 + & shall touch the zone 8820-8830 to face the channel resistance. One should be careful as take any positions post credit policy after you see markets have become less volatile. Regards, Abhishek H. Singh, CMT
Its a (v)-th wave internally -going above min-top 927 -it will give us hint that Indigo wants to continue up & kiss the desired zone of 980-1000 where it will have the center channel as resistance.
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
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.
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...
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...
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
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...
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...
Day's High- 1274.80
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...
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.
A Beautiful Picture in Bank Nifty -will it get completed in the zone 19350-19400 zone
Nifty is running in pullback - going below 8733 shall confirm a downside for target zone 8660-8670.