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...
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.
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.
First a fall from 273 to 248-255 zone Then a bounce back from the same zone to current highs 273
Current Rate- 282 The sheer excitement only -one can't control once a bowler gets back 2 back three wickets in a row- worked well when I wrote that we should be cautious before exactly a day before its recent results were to be announced -it was suggested that there is wedge pattern-which was perfect in place & time to occur- once identified -Boom- You are bound...
Intraday as well -we should keep this stock on radar Likely above 814 has triggered an up-move. But as said we shall take any long opportunity only above 822.50 -b wave swing high or going below 805 should be problem for auro. So, daily close above 814 shall be an important clue in Auropharma from a sense of the larger degree. Trading Opportunity - Going above...
Booked 10 Bucks below 292 & Bounce Back from 283 to 291- Amazing
Concor once breaks the channel shall kiss the dynamic support@1317.
Failure to get daily close above 278 shall hold Kilroy or Inverted Head & Shoulder pattern from getting activated, but bang on for the move from 266 to the little above 277.
I must say Cox & Kings Took us for a ride again & turning exactly between 199-200 as per previous update. Were you part of this amazing start from 199-200 zone?
In one sense it is good that sugar is taking time to melt because it won't affect our health & we can feel its sweetness as well. From last update- prices has been struggling in the zone 15-16. Likely, we are close to do some trending move upside with key support at 14.90. Initial Target could be 18.40-18.50 & beyond that it should be looking an area of 19.50-19.90.
Uper Ganges is likely moving in a supersonic wave on larger degree- looks a good pick from a long term point of view, but immediately, I shall be looking for a correction in the zone 295-305 where C-wave will retrace 61.8% of A-wave & will also hit the swing low of 307. Once It hits the zone of 300-305- That zone could be good picking zone for up move. ...
As per previous update 5-7 days back - 59-60 was the supply zone & Indramedco Slip -I love you. Happy as it turns exactly from the supply zone.
Above 545- touched the evening star head high@557- I love you ipca. Likely we should not cross 557- done for the day. Shall wait for new clues & new movement- which is downside largely Regards, Abhishek H. Singh, CMT
Tata Steel- Ideal Retracement Zone 383-385 Clicked. Session High@386.75 The retracement which I was looking out for so many trading sessions is finally done- the fall from 394.65 to 367.30 has been retraced by 61.8% -which comes in the zone 384-385. Likely we should see some pressure in TataSteel once it starts falling below 381-380 handle. So, let wait for...
MCX Gold Pushes upside 300 Rs in today's session- from 30940 to 31290's
ONGC once penetrates 243-244 mark- Likely it will travel in the zone of 252-254 -Hitting the box the resistance from the top end channel. Once it hits the box & we see it is unable to penetrate on upside & facing resistance- we shall look for selling opportunities in later sessions. Trading Strategy - Likely going above 243-244 -ONGC could head for upside...
Above 135- We are done & out- 159.50- Day's High