chetanpathare

chetanpathare

Using Wedge identified in Nifty. The reversal can be expected upto 18370. weakness can be identified in RSI & MACD. Hopefully, further downside movement can be expected. Maintain your SL too

chetanpathare

1/11/2022, we had a Bearish Engulfing in 1. Dow Jones & Reliance too We are also identified formation of Bearish Engulfing in Nifty too. Let's wait and watch for closing basis and reaction for tomorrow.

chetanpathare

Reliance: Fibo 1: Level 2 completion, we make expect a 50% downside movement if it has to move up or also move above the 2610 level (marked with red line) this is the previous 50% level from where it has to give a trend breakout, back testing and move up further. Fibo 2: resistance at 0.236 level: 2590.7 again, matching with the Fibo 1 levels Fibo 3: Level 1 as...

chetanpathare Updated 

Dow Jones: current status ATH: 36952.65 on 5/1/22 Low: 28715.85 on 13/10/22 50% level: 32806.8 2.618 level: 33267.53 We are just at 32732.96 levels on closing basis, just below the 50% level, we may expect a 2.618 target completion near or around 33267.53, before some corrections happen. Let's wait and watch

chetanpathare

We have expecting a Cup & Handle pattern in Bank Nifty. We have also identified a weakness in RSI & MACD. Let's se, which way the market moves. Global clues, Dow Jones is till at 50% of the levels from ATH in January'22 to Low in June'22.

chetanpathare Updated 

GANN Cycles: 19th October’21- High: 18604.45 To (90 days Cycles) 18th January’22- High: 18350.95 As per Squaring of Time and Price we had 91 days (63 bars) up followed by 45 days down, so we had a low of 8th March’22- Low: 15671.45 i.e. 49 days (33 bars) The low was also confirmed on Fibonacci cycle by completion 1.272 target. Considering, 8th March’22- Low, we...

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A. Nifty has seen 5 previous Bearish Engulfing in last 6 months followed by a downfall. 1 Bullish engulfing followed by a strong uptrend. Today again we saw a Bearish Engulfing, expecting a further downfall. 1st target 16512 2nd target 16068. B. RSI (36): Trendline (Resistance) has not been broken MACD (36): Trendline (Resistance) has not been broken C. 17157...

chetanpathare

We should expect a trend breakout by next week. Followed by a backtesting. Let's wait and watch, the dance of Nifty.

chetanpathare

Fibo Level 0: 16809.65 (14/2/22 Low) Level 1: 17490.6 (16/2/22 High) Range: 320 points Reversal: 17070.7 (Level 0.362) Target 1: 17675.8 (Level 1.272) (600 points from 17070 level) Target 2: 17911.45 (Level 1.618) (840 points from 17070 level) Today’s closing has been above 0.5 level of the range i.e. 17150.15 level so, probability of tomorrow's closing nearby or...

chetanpathare Updated 

17129.85 is 50% retracment level from Monday's low to today's high. Trade wisely

chetanpathare Updated 

another pattern which looks for downtrend has been marked 17200 is 0.786 level which on crossing can take us upto 16839 level ()1.272 of the Fibonacci. Trade wisely.

chetanpathare

Nifty has taken perfect support at 17315 which happens to be 50% retracement level. We have seen 0.236 retracment at intraday and then also at 15minutes level. Which defines squaring of time and price. We can good long from here keeping SL of 17300 levels

chetanpathare Updated 

no points for guessing the reversal point 17062 Range and exactly at 0.236 of the Range, we again got a reversal.

chetanpathare

Nifty yesterday had a daily trend breakout (Purple trend line) with a Gap up opening. Can we have the weekly trend line (Yellow trend line) breakout with a Gap up tomorrow? Resistance point 17511.

chetanpathare

Is this breakout and backtesting in Nifty. We also have 50% support @17506 level. (Ref: previous Idea) Let's wait and watch for markets Monday onwards.

chetanpathare Updated 

3. Fibonacci wth (Left Fibonacci) Level 0: 16410.2, Low of 20th December’21, which also happens to be seasonal Low as per 120 days cycle. Level 1: 18604.45, All Time High ( ATH ) formed on 19th October’21. If we look at the 50% retracement level, it comes to around 17507.25 (marked with Green line), while Thursday’s low was 17511, which forms as a support...

chetanpathare Updated 

Nifty has been falling for last 4 days without a 50% retracement on daily chart, let’s try to interpret the chart on Fibo levels. We can consider 3 Fibonacci, 1. Fibonacci with (right Fibonacci) Level 0: 16410.2, Low of 20th December’21, which also happens to be seasonal Low as per 120 days cycle Level 1: 18350.9 current high formed on 18th January’22. If we...

chetanpathare Updated 

We can consider 3 Fibonacci, 1. Fibonacci with (centre Fibonacci) Level 0: 16836.8, Low of 25th January’22, Level 1: 17373.5 high formed on 28th January’22. If we follow this Fibonacci, 50% retracement level: 17105.15, we found a support at these levels, with the closing above 17105.15 i.e. at 17106.35, This was a 50% retracement 0.786 level support: Today...