Markets are not able to decide here as well where it wants to head. From previous update -907 was an important level for me & look Indigo just turned from close proximity of 907 -Made a high@908 & Had a fall till 890. On a daily chart(indecisive candle)- yesterday's candle had a small difference between open & close & having long wicks on upside & moderate on...
Here also ChennaiPetro did not move above 307 as mentioned in previous update & had a fall till 302- how these levels work wonders -really can't be imagined.
Nifty is yet not able to decide which side it has to move Up? Or Down? Till the time its intact below 8920-8900 on the upside & downside we have a key level as 8757 & critical levels-8750. Going forward- if Nifty takes support in the zone 8820-8825 zone -we could expect as short term up move into the zone 8880-8900- These are all Intraday moves. Any close above...
BA has bounced atleast twice going into the zone 19730-19750 which has become resting zone- since when we identified that zone -it worked like a magic zone Either that zone of 19730-19750 to be taken as good buying zone or going above 20015 -which is the rejection level for BA can be taken as another important mark -if it crosses -one can look for 20200-20250...
I shall be out for the day There was a break of trendline -& if this trendline acts as a support- if prices pullback & trendline acts as support then one can take a long opportunity with that recent swing low as stop. or strategy based on previous update
There is a small channel which can resist the up move & if stops in the zone 1080-1090 which is channel top & any confirmation of the downside move at respective ends can be taken as a bearish view with that recent swing high as stop & initial target -1010 & Going Below 1010-1000 Zone - H&S Pattern with truncated right shoulder gets activated Target Calculation...
I shall be out for the day. As per the previous update shown below - "TECHM: Tripple Correction to End@451. 30" - we were having a view that TECHM looks to finish this correction once it starts moving above 476.50 but look how smartly 476.50 acted as resistance- In prior sessions TECHM tried crossing 476.50 but made a high@474.70 which was slightly below 476.50A...
Likely Indigo if goes past 907 on top -it shall take the flight to the center channel zone 950-1000 & crossing & sustaining above that shall take it to 1150-1200 on Upper Channel Top where Y will be equal to W-Wave Possible H&S Pattern If goes below 790 without going above 907 & starts falling below 790 then H&S Pattern gets activated with its ideal target zone...
If the neckline gets broken - measure the vertical distance from head to neckline which is shown as the 21 point range. Now Duplicate that 21 points below neckline which comes to the zone 230-240 as the ideal target zone for H&S. Regards, Abhishek H. Singh, CMT
TS-TataSteel Last time, which was traded above 364 for target 367 & 370 was part of Y-Wave. Looking for channel support which will be second connecting X-Wave. Likely it is always risky to trade X-Wave so, I want market to give me some clue -which will happen only once TS takes support of the channel forming 2nd X-wave & bounce to start a W-Wave that too we...
The magic of throwback & Retest of trendline -Above 364 - Target Achieved 367 & close to 2nd Target Zone. Day's High- 370
Oh- Its Kissed 297 look & started the bounce. Last Traded at 300- These are the places where Risk is zero & Reward is unlimited as per previous accumulation wedge pattern.
Prices are moving in choppy & a sloppy manner since lows@180. 75 & one should really take care that -if ICICI Bank starts leaking below channel going below 235 -Possibly it will fall on its face & can look for previous swing low which was at 150. Regards, Abhishek H. Singh, CMT
Current Wave -'v" opening up as a-b-c wave. here c-wave will equal a-wave at 18.03 with critical low @15.40 - Any move below 15.40 shall the end the pattern
From 8689- could be A-B-C for "iv"-wave done & we started 1st wave of 5th downside made a low@8750 approx OR it could be A-B-C as W-Wave & we had a fall to 8750 approx giving us X-Wave Going Forward 8704 -is crucial which I have been putting all in my updates. But yes -It was awesome to trade X-Wave right at the top@8835 for Target 8765-8775 in 16th Sep2016...
There is a throwback from the day's high@363. 95 to 359.70 - likely it is taking support at the channel which was breached early in the day & made a high@363.95 Trading Strategy - If TS crosses 364 - we should get the next buying opportunity for target zone 367 & beyond 367 for 371-372 There is a risky trade for the day as going longs at current price-360.50...
TS looks to have travelled almost an impulsive leg from highs@408.60. Oh-we traded "TS" on top. Look-what has happened- it made a low@357.60- likely if it breaks 357.60- it shall continue to the range first 354-355 where it will travel 38.2% of ((i)) -((iii)) wave I changed slightly -((iv)) also opened up as "a-b-c" structure Trading strategy Likely we are very...