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...
I have tweaked with my counts as compared to the last update as mentioned below which is a complete chain of the fall from 312 highs, but likely you should not confuse yourself with my counts-these are for my reference. ChennaiPetro has bounced quite substantially from lows@277 to kiss our target zone of 292-293 as per previous updates. Look for a channel break...
Nifty had a congestion move in today's session as we discussed in the chat room- "India Markets-BSE, NSE" It looks bearish once Nifty takes out 8704 on the downside & shall move in the zone 8650-8660 as the target zone - Looks like a triangle in current session
Thanks Deity- This all to you. A journey which, I will cherish my whole life till the time I survive on this planet. ChennaiPetro caught right at the top between 310-320 -Then a fall below 292 for 283 - Then a bounce from 283- 292- Then again a fall & makes new low@277- Expected a bounce from 277 to 292-293- Here we finally made day's high@292.40 - Clicking our...
Simplest Trade I will take & always prefer is when a trendline gets broken which is solid trendline How do you know its a solid trendline Any trendline is good if connected with 2 points, but it becomes valid & solid, at least if it has three (3) points on a trendline. So, if it gets broken under the swing low@588 & eventually the box will also start leaking -I...
There is a tripple correction, which started from high@564 & looks like it has ended@451. 30 recent low, but not confirmed yet so we will wait for the falling trendline to be broken or Move Above 476.50 -key level- any move above, shall give a clue that tripple correction WXYXZ has ended -which ultimately has ended "d' -wave of the triangle as per previous update.
Picking a top or bottom is always a dangerous game unless it is confirmed by price action. Momentum Indicators are slowing down & current low@373.05 could be a temporary halt & some retracement could be seen before TS resumes its downtrend. There is a rising trendline which could support TS & give a halt in the fall of 408.50- as per previous update we were glad...
Let the box be leaked downside, below 19735-19740 zone -In that case we will look for next support zone 19490-19550 as mentioned in previous updates