Nifty has once again closed below the tenken sen 17640 on the daily time frame .
Will it be third time lucky to meet up with kijun sen.
Look for shorting ideas below 17580 with a stop of 17640 on smaller time frame.to get to kijun value of 17250.
If you are looking for positional sell 17640 close on hourly basis is a strict stop.
SP500 is getting very near to close below the kumo on a daily time frame. With a bearish kumo twist already in place for day now a close below the cloud will be an ideal sell setup fot the bears.
Nov 1st 2020 was the last time a candle closed below the cloud and the price was at 3400.
Wedge breakout ..... look fr pullback to enter long to cover the measured move of the wedge brekout tgt for bajaj finance..
38% retracment of the move from top of 4923 and bottom of 1783 also coincide with the wedge tgt ...
so look fr buying opportunity on ur sutaible time frames..
Caution if any candle closes below the breaout candle...
Possible regualr flat correction on ICICI daily chart ... look fr buying sign to complete the wave C...if this thing plans out then 50% retacement of the whole fall from the top of 550 to 270 is the idea tgt fr wave C at 410 ...
As the regualr flat correction,, C can rally to A at 390 and if extended to an ending diagonal chances of C hitting at 410 is there.
We are in a BIG corrective pattern in the form of a potential WXY pattern from the TOP of 12410 to the BOTTOM of 7510 ... W and X seems completed now.
If y has started it shd be in the form of yet another impulse 12345.
X low is the key if it goes ...this wave is invalid.
Reli at 78.6% .... from the lows ... seems tat mr ambani is in hurry to make the most out of it .. before the lockdown gets over... nice try mr ambani.... so shall we go down from here... honestly u cant go straight up to ur last swing high... if it does.. then ur the biggest manipulator of indian stock market.. oh and by the way ur outperforming nifty by more...
GOLD with the KUMO (future cloud) now turing positive again and an average bullish TK cross on the daily cud resume its upward bias ..first thing first,,, double top test 1680/1700... weather it will break the top is a secondary question..
Any daily consecutive close below 1570 will invalidate the bullish bias.
A Bearish Kumo Twist on the daily on 22nd feb and a weak TK cross on 19th feb...wait fr 2 candle close below the cloud and then sell Nifty fr
10350/10200 and 10000. SL will be candle close above cloud.
the 3 white soldiers on the weekly time frame just presenting a picture tat the bulls are here to stay for a while...buying is advised above the 3rd soldier to retest the earlier all time highs... having said so look for some pull back also at current levels... the 50% and 61% retracement levels r the targets
nifty at important time cycle date cud play a bounce back to test the 200 dma before the drop down to make new swing low.... the gap cud be an exhaustion gap also....looking fr buying opportunity here... look fr a buy on Monday open with a stop of 9900 fr a tgt of 10100-120.
rectangle pattern breakout ....and bearsih cloud ,,just sell fr tgts of 1800 and beyond (1765) ....the rectangle range was abt 80 points ...so the downside tgt cud also fetch u 80 points...but first tgt 1800 ,,