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Bank Nifty has been moving in a channel since Covid time, it has formed a rising wedge pattern where the upper band starts at Covid time swing high and lower band starts at Covid time low. I can not switch to monthly timeframe to show the rising wedge pattern on the chart else won't be able to show the possible moves within a month, but the sky blues lines are...

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I am reposting this analysis to support my previous post where nifty is possibly forming H&S pattern and can give breakout on downside, here is the link:- Now I have added Fib retracement taking 04th Low (23179) and recent LTH (26277), with 0.618 Fib retracement the downside target comes (23195) which is inline with H&S pattern breakout target. Also I have...

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Nifty has completed left shoulder and head and now need to form right shoulder. 25500 seems strong resistance area and if it fails to cross this level and breaks below 24694(recent swing low) then it will be H&S breakout and it can slip up to 23200. Though it will have strong trendline support at ~24200-24300 area and if that breaks then 23300 is most likely to...

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HCLTECH seems to be in the wave 5 of impulsive phase of Elliot wave. Wave (i) of wave 5 itself is ~240 points so the wave (iii) itself need to cross current LTH of 1698 so the full length of wave 5 can go up to 1880 that is 200% retracement of previous LTH of HLTECH - 1377. This will be confirmed/supported if Nifty IT index too confirms C&H pattern. * It is not...

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Bank Nifty has formed a rising wedge pattern where the upper band starts at Covid time swing high and lower band starts at Covid time low. If bank nifty comes near to 49500 in next 1 month then it might get support again to make another up move. The pattern is near to mature as it has shrank a lot. breaking on either side will give very good run so keeping an...

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This script after making a LTH of 3590 in Jan 2022 has been in correction phase in pattern of ABC WAVES (blue color). Currently it is in last phase i.e C which is supposed to be in the form of 12345 pattern (green color). Within this wave C waves 1,2,3 seems to be over and we are in wave 4. If the stock keep following the Elliott wave theory then 1. As low of wave...

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The green Gann lines (coming from top left to bottom right) acted as resistance and now Nifty is near to last Green Gann line, whereas Purple Gann lines acted as support while nifty was recovering. Clearing LTH 25075 will clear all the Gann lines and then all the Gann lines will act as support, specially the purple Gann line at the top will keep nifty moving up as...

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Rico Auto has given multi year breakout in March 2024 and now retesting the breakout level 114.40 It can be a good opportunity to enter with a stop loss below 100 on closing basis. More near 100 one takes the position, smaller the stop loss would be. For Rico auto, 225 rupees is target by size, see Fib levels.. but target by X factor is 114.40 /4.25 =26.91 *...

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Today Nifty has given most of the moves as per the post I created yesterday. Continuing to that here is the predictions for 9th August. Nifty is moving towards circle where it has 3 Gann fan lines, 2 Asc in Red and Green and 1 Desc in green. These lines and important along with the price action. Possibility#1 If Nifty does not go below ASC red line( at least...

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I have drawn Gann fan and Elliott wave for Ramky, till 1011 (LTH) these lines must work well, so far worked well as it can be seen. When it moves up near the Gann fan lines it is getting resistance and when it come down it is getting support from Gann fan lines. These lines can help to book partial profit and buy again on lower levels - basically buy on dip sell on high.

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I have drawn the Gann fan and made a post earlier but it was removed as it was having one of my private indicator. I am posting it again without that indicator. These Gann lines can help to understand resistance areas and support areas and that can help to understand the possible moves. With time and based on intensity of nifty moves the resistance and support...

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As per Elliott WAVE theory if the HDFC bank is running impulsive WAVE 3 and then it is yet to form wave (v) of wave 3. For that it need to move higher than recent high of 1681 and as there is trendline resistance around 1687 so most likely HDFC bank will face lots of resistance in the range of 181-1700 and will come down a little bit in the form of WAVE ABC -...

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If LT is in impulsive Elliott wave 3 shown in gray which will get confirmed if it closes above LTH(3924), and then we can see targets as drawn. difficult to predict exact end point of wave 3 but it can be one of the fib level and for wave 5 the next upper fib level can be considered for now. Closing above will also form inverted H&S (see shadows in triangle shape)...

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This is purely hypothetical combining Elliot waves + Fib levels, near 562 impulsive wave might get completed as PE ratio will become very expensive as compare to Titan and hence some profit booking must bring correction in ABC form, the wave must be formed but not necessarily will come the the fib levels drawn. So in nutshell observing weakness around 562 some...

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TATA Power has finally given breakout by closing above 464.2 which has been the LTH since long. This is a sign that consolidation phase is over and new targets are open. Had this closing come yesterday with monthly closing it would have been an icing on the cake. Now with tomorrows weekly closing if it remains above today's low and close higher than 465 we can...

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TATA Consumer might be in the last impulsive wave 5 (in blue), where it seems to be in wave (iii) (see wave in green) of wave 5. Can see a P&F pattern formation (see pole in orange color) and with that target must be in between 1355-1404 range. Also it will complete C&H pattern on 1256 and with that target will be around 1494, that could be end of impulsive wave 5...

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TATA Power has already achieved the adjusted target as per flag pattern, if we apply flag pattern as per book rules then 567 is the target which is yet to come. TATA POWER is travelling in the channel drawn, as per that if it crosses current LTH of 464 then it can reach to 480-490 and then again make a down move towards the bottom line of the channel which can be...

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ASHOKLEY (ASHOK LEYLAND) has completed distorted C&H pattern as well as retest the LTH made during 2018. With the depth of 134 points (167-33) the target is 167+134 = ~301. Intermediate targets 203 (completed), 222, 250 - keep trailing stop loss as it reaches next target. * It is not a trade advise but technical analysis shared based on my understanding of...