please go through my last post in detail. in the update I had suggested stop loss and where to buy. on monday repeatedly stop loss was approached on hourly cnadle. But it was not violated on closing basis. today nifty opened right at the buying zone with red candle. In the after noon it crossed the buying zone with green candle. signalling perfect buy for...
Unless it is complex,it should be over. it seems to be a flat correction a wave 3 wave down and b wave 3 wave up followed followed by c wave 5 waave down. But it is premature to say the correction is over. as correction can be complex, Normally traders avoid trading this correction phase. In case of bank nifty it has been continuing and in nifty it has just...
how ever it has potential of breaking the channel to touch other two targets. this is for educational purpose , not any recommendation to buy and sell. let us see after retracing it rises or not to break the channel . or its rally is done.
In a highly volatile market ,it could not cross the 20 dma and median line of the pitchfork. Normally when stock or index is unable to cross the median line its chances of return to the lml is high. today from the very begining my target was median line. But it didn't touch the median line as such in straight. volatility was very high,even at one point of time...
Both bank nifty and nifty were trading in narrow range. unless nifty trades in narrow range in the expiry day it is likley to touch 19032-19072. 18878-18852 and 18828 are important levels,above 18878 nifty is positve. and 18798 should not be broken below which nifty will become negative
Hugely underperforming compared to nifty. with hdfc bank reversal taking place as it seems to be. under performance of bank nifty may end. it need to be close above 20 dma now which is at 43965. stochiastic is no more in over bought zone. But I was expecting a little more dip in stochiastic to offer perfect buy. Icici bank,hdfc bank seems to be bottomed out. let...
while nifty is trading well above 20 dma bank nifty has closed below it today. bank nifty range is 258 which is quite low. and atr(14) is now 380 which is lowest in post covid period. if it breaks today's low its chance of slipping to 38.6 percent of this upmove is there. all depends on the out come of fomc meeting . Hawkish comment by rbi in no way helped...
after consolidation with in a triangle and its break out from the triangle. now it is nearing the triangle break out target.it is minimum expected target not maximum. Big broker house predicting the target around 620 to 640. upper possible target is also shown in the chart, please scroll up to find. Do like this post if it helps you. follow me to get updates.
On Friday bank nifty range was 283, and 14 day's atr value about to hit low value again after 14/12/2022. its value was 410 where as on 14/12/2022 it was near 400. very soon we expect range expansion in bank nifty. what will be the trigger factor? FOMC meeting should be ,it also coincides with the prevailing low atr value in bank nifty. Last week range was 541.35...
But no major break down. It should touch 43783 which is 38.2 retracement of the present wave. Looking at the overall structure of bank nifty major break down may not take place. there may be some bounce tomorrow, only below 43964 weqk ness will prevail. today bank nifty has successfully protected that level. if 43708 is broken there will be concern in that case...
Is it an opportunity to buy or sell? overall trend is bullish. after march 2023 first time bank nifty has come closer to 20 dma. it is an opportunity to buy. it is now progressing by forming higher high and higher low. still upside left.I will attach 5 minutes chart and 4 hrs chart with this.There is likely to gap up tomorrow as obvious from dow and other markets.
What I think is in the chart. It is going to break the channel. All time high made in april 25 2022 was expannded flat.There after it has undergone complex correction with y wave ending in the month of march 2023. And new impulse wave starting after that. And it is all set to achieve new all time high. please go through my recent posts of bank nifty. connect with...
this is the hardest part of the trading. people do avoid trading this 4 th wave. only scalping can be done. how it unfolds it is very difficult to tell. right now it appears correction has been completed with c wave completing at 43399. let us see what happens tomorrow. now I am optimistic as long as 43399 is protected.
it appears .we can get appreciable move next week. the correction that has been going on was 4 th wave pull back. Bracketed no indicates major waves, while nos not bracketed indicates the subwaves of wave 3. This week for bank nifty is NR7 week. It appears the correction of public sectore banks like sbi,bank of boroda and canara bank are over,and this week happens...
Bank nifty has been trading as inside bar of the mother candle formed on 5 th may. today it has formed the triangle as shown in the chart. the target and stop loss are shown in the chart. please go through my previous posts of bank nifty.
Divergence between price and oscillator seen. This is weekly chart. please go through my earlier posts posted few days back. where I have been tracking bank nifty regularly. completion of correction and turn around. Please don't try to short bank nifty as of now. now bank nifty is likely fill the gap which it has left behind during this down trend that is...
I will try to cover starting from weekly chart. Gradually try to proceed to daily and hourly chart. Now convnicingly trading above 20 weekly average. and is at important resistance level and as per present trend it is likely to over come this. H&S break down once negated as shown in the chart. In reality in bullish market H&S break down never matterilizes and...
do you think its rally will stop here? In larger time frame its 3 rd wave in progress. it has not completed yet. in smaller time frame its 5 th wave is in progress. after that we can get a pull back . and rally is going to sustain. please go through my earlier posts of ITC. first I spotted its splendid chart on april 14 2022,when its price was 269. Do connect with...