aditya.thukral423

aditya.thukral423

Multiple reasons to be bullish in Silver at this point of time: Simple technicals: 1. A pennant formation. 2. Positive reversal where RSI forming lower low while price making higher low suggesting a fresh high can be seen in the instrument. 3. Trading at lower end of the consolidation and higher highs and higher lows formations in smaller time frames. From...

aditya.thukral423 Updated 

We are still moving in a rising channel. This is what bulls want to hear & see. Also, they want see the weekly bullish doji candlestick formed at rising trendline support. This seems to be trap for me and the markets are likely to fall and break this doji's low in next couple of weeks. Has the rally started from 7511 is an impulsive one? According to me, the...

aditya.thukral423 Updated 

Prices have confirmed a lower high and lower low formation with the break of 11185.15 on daily charts. Now, on the lower time frame charts, prices are approaching resistance zones along with the formation of negative reversal where prices are in the formation of lower highs while indicator (RSI) makes higher high. Now, on the break of 11181 which is a higher low...

aditya.thukral423 Updated 

The first leg of the current fall from the top of 9889 is impulsive in nature. So, another leg on the downside would be imminent. Now, where this fall would end, there are some possibilities Case 1: A 100% move from the top would take index to 8808 which is an ideal case scenario, as per the text book. Case 2 & 3: It's my personal experience that markets extend...

aditya.thukral423

The first leg of irregular correction has started to appear from 77.01. Now a trading opportunity is visible on price charts which can drag prices lower to: i) 74 being 100% extension of wave A in an ideal case ii) 73.22 being 138.2% extension of wave A in most cases iii ) 72.70 being 161.8% extension of wave A on rare occasion A break below 75.40 would provide...

aditya.thukral423

The rally from December 2015 lows is a part of corrective structure. The overall structure could pan out in regular flat till the time this rise remains below $1920 which would eventually convert to irregular flat on a cross above $1920. I have marked some projection levels where the prices could end this up move. So we may be in the last leg of the rally in...

aditya.thukral423 Updated 

USDINR seems to be forming irregular flat and is expected to take prices above 70.50 in wave C. Further confirmation for the move can be seen when prices starts moving above 69. The supports of 68.20 are expected to be held in this up move.

aditya.thukral423 Updated 

The currency pair is moving in corrective structures and is expected to extend the fall towards 69.30-69.35 range and then moving higher towards 70.40-70.45 in next one to two weeks.

aditya.thukral423

USDINR is expected to approach higher towards 71.3-71.4 by staying above 69.2 in next couple of weeks.

aditya.thukral423

The marked ellipse seems to be a corrective rise so far, in the form of zig-zag. The marked square is a rare island reversal pattern formed at the top. The break below 11549, will break the uptrend started from 10585 and the index might be ready to retrace back towards 10000. Disclaimer: This is for educational purpose only. Its not a trade recommendation.