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...
There is a Kilroy pattern as per Edwards & Magee book or Inverse head & shoulder pattern which got activated yesterday -if prices come back to neckline & starts bouncing from the neckline then one can take advantage of going longs else if it goes below neckline & even below 264 highs -it shall confirm that bulls will take time to return back to Adaniports- In that...
H & S pattern with the neckline at 54-55 shall take RCF to the zone 72-74 which is the ideal target zoneHead & Shoulder
Nothing good in Gillette as well- which has been moving upside in an ugly manner so once it leaks downside of the flag & give us a close below 4250 (Horizontal Red Line)..It will confirm that Gillette wants to move down.
59-60 zone is the supply zone. Prices are getting rejected every time they go into that zone & return back with beating. Not a good stock- looks like it will stay in that zone for a while & once it leaks from bottom then we shall look for medicines for them. Regards, Abhishek H. Singh, CMT
There is a potential bullish harmonic pattern - it really looks up but kindly take positions with your due diligence. PRZ-Potential Reversal Zone is 293-310 - Target could be a substantial move to the zone 420-450 as per earlier update mentioned below
Below 50 Mark- There could weakness in Rpower - Head & Shoulder pattern gives a target of 43-44 zone.
No Trading Zone between 31.50 - 40 Either side break shall give us a trading opportunity. Likely, It seems that we shall have a downside move once 31.50--31.65 zone gets broken- in that case we shall be looking a zone of 27-28 & below 27 -Likely it should go in the zone 20-21 -where multi year low could be in place which possibly looks in Aug to Oct 2017 next...
There is a tripple correction, which could be unfolding & it could one more minor league within Z-Wave which looks plausible above 49. Currently above 49 -we shall look for the zone-54 to 56. Or Selling could be expected only below 43.50 strictly. There is no trading zone between 43.50 to 49 So, Gitanjali shall have to pass with some more pain in the coming...
How ecstatic you feel when you want to reach someone & you connect him on the first attempt- That's how I felt as I dialled the correct number on Just Dial- expected a bullish opportunity only if rectangular box was taken out on top else I was expecting 480-485 zone to be kissed on the downside. Vow - It kissed 485 -Bang on Target.
There is some counts change - as market proved me wrong this time. Accumulation Wedge- A possibility, In this pattern price forms a resistance which it formed in 293.80 -comes back & again tries to take out the resistance which it did & formed a new resistance at 296.90 then falls back again in the pattern finally to take out with a large bull candle. Trading...
I know emotions are tough to control, but one should check the prior support & resistance as well- Bank Nifty which took support exactly at 19730 -was not any wonder.