bijoy2526

bijoy2526

While US market rejoicing the recent dovish comment form Fed chairman Mr Powel,Indian market should not be left behind.Our market is nicelly pulling up from oversold condition. Nifty is likely to retest the channel line which is at 19476. There after it may take the form of complex structure. It seems the ongoing C wave is not completed yet. Gift nifty is now...

bijoy2526 Updated 

It appears . C wave of this correction being ending diogonal. 3rd wave is continuing , we have seen prolong correction in it. weekly chart will be attached. chart it self explains on going waves in lucid manner. please like this post if it helps you. follow me to get up dates

bijoy2526 Updated 

Chart captures the movemnt of Bank nifty from march 22. starts its impulse wave with strong footing with a diogonal. Diogonal usually appear in the 1 st wave and when it is in 1 st wave it is leding diogonal and its start indicate new impulse wave. and when it appears in 5 th wave it is ending diogonal and it denotes end of the ungoing trend. This diogonal...

bijoy2526 Updated 

The study for nifty is from june 2022. of course I may update this study with another weekly chart.there we can see major out look. From june 2022 five wave up move completed on dec 22 that is wave 1 shown in bracketed black lettered 1. There was 50 percent pull back of this wave in wave 2 which ended in marvh 23.that I have lebelled as bracketed black lettered...

bijoy2526 Updated 

1st wave being leading diogonal. 2 nd wave its deep retracement Today's rally is a part of3rd wave, possibility of minimum extension has been shown in the chart. Please like this post if it helps you. follow me to get updates.

bijoy2526 Updated 

Please go through the supports for infy. if infy breaks 1304 it will be very negative for it. let us see if bottome fishing is done today or not.

bijoy2526 Updated 

Rbi monetary policy on 6 th october. Industrial production and inflation data on 12 th. Unless it is a complext correction,in bank nifty C wave is unfolding. It can be zig zag or diogonal. Till now bank nifty has recovered only 23.6 percent of the fall. In hourly time frame it is visible. Not appreciable at all. b wave bounce of this a wave is only 23.6...

bijoy2526 Updated 

Its 4 th wave pull back over which was a complex correction. It is likely to take out 3 rd wave high which is at 1708 and move higher. Due to tech weightage adjustment in FTSE. expected inflows of $650 million in to hdfc bank. The chart is in weekly time frame. Do ike this post if it helps you. follow me to get updates. Please go through my previous posts

bijoy2526 Updated 

It appears from the chart flat correction is taking place in bank nifty. In that case it should come down atleast near to the end of wave A. C wave should have five waves. Please like this post if it helps you. follow me to get updates. on weekly chart last time has bounced from 20 period moving average on last friday it has touched that. Most possibly it is...

bijoy2526 Updated 

Weekly chart of Nifty. It appears this is on going 3rd wave of on going rally. It has completed third and fourth wave of this 3 rd wave. The wave should extend atleast to 20532 and touch the upper line of the channel. In case of bank nifty it had dipped to 20 period weekly average ,But nifty has not done so. Infaltion rate for India and US are likely to come...

bijoy2526

With inflation woes still pending and populist measures to control inflation. there is almost no trigger to lift bank nifty higher. It is unable to cross rsi 48 strict resistance zone. The up move was unable to cross even 50 percent of the decline. all we need strong bounce from bank nifty to cross this resistance zone in rsi ,otherwise selling in this zone will...

bijoy2526 Updated 

One time this stock was rocking. due to several reasons its decline started. Now its turn around it taking place, its 5 th wave in progress. Like this post if it helps you. follow me to get updates

bijoy2526 Updated 

Above monday's high it is likely to bounce,If there is negative opening tomorrow wait for high of monday to be taken out to be long,for the target of arrow as shown in the chart. we had captured the reversal of bank nifty on monday. once long in bank nifty monday's low should be stop loss. like this post if it helps you. follow me to get updates.

bijoy2526 Updated 

Is it trend reversal? Green candle closing above hammer predicts trend reversal. After many days FII figures is positive in cash. In asia pacific region India happens to be favourable desination for investment with chinese economy slowing down. Today I picked up the trend reversal at right time. In hourly time frame five waves have been completed in C...

bijoy2526 Updated 

today's bounce is not sufficient to avoid any further decline.Bank nifty is trading comfortably below 20 dma. Though in hourly time frame five wave can be traced with completion of C wave further decline can not be ruled out. today's bounce was lack lustre. with rbi moneytary policy ahead and last time food inflation is most spoiling factor. Comment from rbi...

bijoy2526 Updated 

Will it bounce back? wave 5 of this rally in an ending diogonal. now wave exactly 50 percent retracement of wave 5 is done.and wave 5 has retraced to the position of 4 th wave of it. In normal case it should have retraced to the starting point of wave 5. But now a days in bullish scenario deep retarcement is not happening. How ever at this juncture we should be...

bijoy2526 Updated 

No conclusive proof yet. But formation of diogonal indicating probably correction is over. During this correction phase bank nifty was alomost trading with in the parallel channel. once there was throw over but again it had returned back in to the channel. Gradually diogonal was being developed in the c wave of final C wave. and finally in the last hour on Friday...

bijoy2526 Updated 

It has been trading with in the channel since long.Time for it to break out of congestion. Break out trading has not been working in case of reliance. but it appears its successful break out will take place in coming days.