WaveTalks

WaveTalks Updated 

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...

WaveTalks Updated 

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...

WaveTalks Updated 

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

WaveTalks Updated 

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...

WaveTalks

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...

WaveTalks

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...

WaveTalks Updated 

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

WaveTalks

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...

WaveTalks Updated 

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...

WaveTalks Updated 

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.

WaveTalks Updated 

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...

WaveTalks

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

WaveTalks Updated 

BN-BankNifty On 22nd Aug2016- Bank Nifty had a high@19494 -which could act as polarity reversal zone if BN opens gap down today as well -We should look for 19490-19550 as the support zone -which was resistance earlier. Once BN, holds some time in the zone 19490-19550 - we should avoid taking short positions & kindly wait for bounce to join the...

WaveTalks Updated 

This is a corrective wave which started at lows@277.25 as per morning update below -shall be looking for 292-293 zone as possible bounce & then with stop above 295.50 -we will go short -which I will update later.

WaveTalks

From Highs @748 - TechMahindra could be in corrective sequence A-B-C where B-Wave is shaping as the Triangle & Once e-wave within B-Wave Triangle is done, which comes in the zone 520-530 then C-Wave will start on downside & can travel between 340--350 where C-wave will travel 61.8% of A-Wave.

WaveTalks Updated 

First a fall from 273 to 248-255 zone Then a bounce back from the same zone to current highs 273