nirav5

nirav5 Updated 

We can initiate long position in yesbank as it is forming inverse Head & Shoulder pattern. Although left shoulder is not as accurate as it should be. We can enter the trade once it breaks the neck line when it crosses 1470. Target we can expect 1520 and 1540.

nirav5 Updated 

There is a possibility of Bearish Cypher in the hourly chart of VEDL. The potential reversal zone is between 245 - 248. Although earlier many times VEDL price action has faced resistance in that zone, this time it can go up as well. Keep a watch in that zone. Kindly initiate the trade only after confirming the reversal signal.

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ICICIBANK is moving in a nice weekly channel. Currently it is near resistance. Last week it has broken previous week's low. So in the next week if it fails to give close above previous week, we can initiate positional sell position. Please feel free to share your views.

nirav5 Updated 

Reasons for expecting some reversal in M_MFin. 1. It has retraced 0.5 Fibonacci level of the recent up move and indicated a reversal. 2. Bollinger band support level. 3. Forming a hammer candle. So tomorrow keep this stock in your radar.

nirav5 Updated 

We have double bottom in Suntv. We also have potential bullish Bat pattern. Patterns get invalid below 767. It's a positional trade. So Zig zags are likely. Small target 814, then 850 and 900. Please note that it won't go up in the one go, hence use buy on dips action plan till SL is not hit.

nirav5 Updated 

In the current Bull market for buy on dips strategy will reward better. We have potential Bullish Gartley as well as Bullish Butterfly possibilities. If we observe Fibonacci ratios, potential reversal areas come around 150 - 154 zone. Stop loss can be determined after confirmation of the pattern activation. Tentative stop loss - 148 .

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We have another Harmonic opportunity in NMDC. If the Cypher pattern gets activated near 116- 118 zone we can have a good opportunity in creating long position. Do not get hurry in creating the position, as currently NMDC is trading at 123. We will wait for the stock price to dive below 120 and observer the price action behavior in the zone of 116 - 118.

nirav5 Updated 

We have potential Harmonic setups on ICIL. Scenario 1 - If Bullish Gartley setup gets activated we can have sharp reversal on upside from the 194- 196 zone. Scenario 2 - If we change our X point we can have a possibility of Bullish BAT setup. In that case D point can travel till 190 zone. Potential reversal area can be around 188 - 190.

nirav5 Updated 

AMBUJACEM is moving in a channel. It made a Doji near the channel support followed by Hammer. Q4 results were also decent. One can initiate positional long position with the stop loss of 234- 235. 1st target 251. 2nd target 268- 270.

nirav5 Updated 

We have potential Bullish Gartley setup on Icicibank daily chart. Already Icicibank is trading at 278. It's Q4 result is on 3rd May. I am not sure whether this trade setup will come into play or not. Entry point - 255 - 260 SL below 250. I will update the targets on activation of the pattern.

nirav5 Updated 

We have potential Bullish Harmonic pattern in Tatasteel. One should be looking for exit their short's position in Tatasteel. Resume short only below 450-455 level. Bounce can be expected till 473 to 480 level. Potential reversal zone 455 - 463.

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We have potential Bearish BAT pattern on Nifty hourly chart. Potential Reversal Zone from 9190 to 9219. Safe traders can check the behavior near the potential reversal zone and follow the trailing stop loss method for their long positions. Short positions can be created only after the confirmation of the reversal.

nirav5 Updated 

We have potential Bullish Butterfly on CNXIT hourly chart. Target 1 - 10700 Target 2 - 10750 SL below 10600 Please wait for the positive reversal before initiating the trade.

nirav5 Updated 

We have Potential Bullish BAT pattern on TCS hourly chart. SL would be 2398. Target 1 will 2450 and target 2 can be 2480 - 2490. PS: Kindly wait for the reversal sign from the ongoing downward trend, before initiating the trade.

nirav5 Updated 

We are in the D leg of Potential Bearish Cypher pattern. The View negates above 1290. If that happens we will have to look for the possibilities of Bearish Shark pattern. Kindly wait for the price rejection before initiating the trade.

nirav5 Updated 

Although I am bit late in publishing the post the first target of bearish butterfly has already been achieved near 489 (0.382) in techm. Going ahead if TechM fails to regain and maintain at 490, then further targets can be 484 -> 478 on downside.

nirav5 Updated 

We have potential Bullish Butterfly (Blue color) in Nifty. Expected reversal area around 8050 - 8070. We have another setup of Bullish Cypher (Red) as well. However for the fulfillment of Bullish Cypher condition Nifty has to move below 8000. I will cover that part if the condition gets satisfied.

nirav5 Updated 

Axisbank can reverse from 478 - 483 zone. Please wait for the reversal signal before going for short. SL 484.