Channels have been basis for wave analysis. Drawing them on price data offers support & resistance offering good trading opportunities. One such channel drawn from the bottoms of 37950 & connected with 39258 lows offered support to the opening low of 40288 as of today - 14th Sep 2022 Prices rallied sharp upside to new highs above 41600+ which is very close to...
From the last update- 40600 was the key level which halted the up move exactly & same level acted as resistance in opening session when index opened gap down. It travelled upside to 40605 close to 40600 resistance & dropped sharply down to 40378 -which is our critical level for upcoming sessions. Index has been choppy since the bottoms of 40280 & the waves looks...
Extreme Risk Takers Can Trade till Index holds below 40600. In other words selling should be avoided if Index rallies back above 40600 (Avoid Sell above 40600) Our Downside Targets 40450 40185 39880 Hope you liked the last idea -Island Reversal -Index rallied overall 1000 points in two days 8th & 9th Sep 2022 Last Idea - Island Reversal
Disclaimer: This is not an Investment Advice. Trading leveraged products carries a high degree of risk and you could lose more than your initial deposit. "Bull markets are born on pessimism, grown on skepticism, mature on optimism and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to...
Ending Diagonal with a twist. As identified support zone 39550-39600. Index post falling from 40073 highs slipped to 39759 first / did some sideways & fall continued below 39759 to very important support zone & day low in the zone as 39564 Holding in support zone we expect Index to push once again 40K + target zone where you have to be...
Possible Ending Diagonal Scenario could be unfolding for Bank Nifty. Trend could change next. Get your clue from European markets Check the related idea published last week. Plan-B as mentioned in the idea. Not a trading call. Manage your risk properly. Thanks
Bank Nifty Index has been doing sideways in the range 37959 (critical high) & 38800 (critical low). Looks like unfolding a triangle. If you identify them then such patterns are amazing as traders get multiple opportunities between zone identified. Trading Strategy ( Current Spot Price- 39305) Plan A - Buy close in 39000-39100 zone if Index halts above...
Long Term Outlook We picked time cycle tool available in drawing tools & tried getting dominant lows & highs. Over the process we realised that 18 Week cycle is dominant & running for Bank Nifty Index giving us important lows & highs. Next low could be due in middle of the Oct 2022 which could be shifted to close to Nov 2022 if current high holds at 39759...
Rising wedges or Ending Diagonal ends the ongoing trend. This is not a call. Trade on your own risk please. Thank you
Let us recollect the most important psychological level of 39500 as discussed could be the most critical level at present. A bearish butterfly harmonic structure completes in the required PRZ & reasons for fall discussed below & shown on the price chart. Possible Reasons for Fall Bearish Butterfly Harmonic Structure Evening Star...
Let's get started with this beautiful Sunday Morning with an exciting idea on "Bank Nifty - Will if follow in the footseps of HDFC" By the end of this short video, you would realise that BankNifty could be unfolding similar structure once done for stock -HDFC in early 2021 / 2022. Hope, this long term idea attempts to answer our colleague's @punterpk unsettling...
As per our discussion since morning 38800-38825 has been important zone. Few reversals were seen right from that zone. Hope you enjoyed. Banknifty - Patiently waiting, Index structure looks like unfolding a #triangle- the penultimate wave. Penultimate wave This is the last wave & sudden reversal can happen at tops. Trading Strategy Means holding...
Bank Nifty could be unfolding head & shoulder chart pattern in 38155 - 38402 zone. The pattern is yet not formed & have to complete by reversing down from 38350-38402 to the neckline support Trading Strategy Trade will trigger only when neckline is breached which is a rising trendline marked as "Neckline" Index has to fall below neckline which is 38200...
Bearish Bat Harmonic Pattern at the tops of 38231. Sell Triggers below 37941 Trading Strategy Traders have to sell once it triggers below 37941 with recent high as stop loss later. Targets 1st Target - 37655 2nd Target - 37522 3rd Target - 37249 Thank You.
Idea is valid till the Index holding below 37100. Target - 36242 Avoid Taking Positions If Index crosses & holds above 37100. Thank you for reading. Have a nice weekend.
Ending Diagonal Setup can complete in 35150-35250 zone. Trading Strategy : Buy Buy in 35180-35225 zone if Index halts & takes support Stop Loss Below 35150 Target 35700 35950 36275 Note - Ending Diagonal Setup gets invalidated below 35150 levels & structure has to be reviewed later. Thanks for reading & Have a nice weekend.
Old Ways Leading to New Destinations ( New Results) - In this short video, we discussed old methods which could provide new results / new destinations. These Old ways / methods discussed are Channel / Trendline Chart Pattern - Head & Shoulder Correction ...
Short Video Outlook on HDFC ------------------------- 22nd Jan 2022 ------------------------- ------------------------------------------------------------------------------------------------------------------------------- 4th July 2021 - HDFC - WaveTalks -Pattern /Patience & Penultimate Correction which was Wave 4 Triangle....