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.
Nifty was struggling for the past 2 days- Likely we get upside move- we should be careful as it would go into the zone of prior support 8770-8780 when it was doing an uptrend shown as green arrows on left, that area could become polarity reversal zone in coming sessions. TradingStrategy- Look out for Nifty to go into the zone 8770-8780 prior support to act as...
As per previous post yesterday It was updated that key levels play strong role in deciding the market direction- which was no wonder - as I was very strong on up move only above 8748 & below direction could open up only below 8704 -In between you will be chopped The best way to trade was to go long at bottoms @8704 & go short at 8748 Highs - These levels were...
Axis Bank is trading at channel top- likely a trading opportunity occurs if this channel & prior swing low@595 gets broken downside in that case -Axis Bank should penetrate 588 mark as of yesterday as mentioned below
Usually it happens that Post breakdown -In this case a rising trendline RT was broken by TataSteel -Made a low@363.15 & did a bounce to kiss the same trendline which was broken earlier. Double brackets for circled roman numbers This trendline could offer resistance to Tata Steel & If prices go below 369 -that would really indicate that TS is in the final leg of...
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...