nirav5

nirav5 Updated 

We are into D leg of Bullish Harmonic pattern. Potential reversal zone 510 - 500 . Kindly confirm the reversal before initiating the trade.

nirav5

Currently we are in the corrective wave a. It just touched 0.382 retracemet near 115.285. Once done it can start for the b wave. We need to check what corrective pattern gets formed.

nirav5 Updated 

Tatasteel has made a recent high near 431. Which if connects with previous highs we find an interesting channel like structure on weekly and monthly chart. Also if my wave counts are correct we are in the 5th wave. If Tatasteel breaks down of a recent channel move of (5th wave) and fails to make a new high and previous channel works as a resistance then we have...

nirav5 Updated 

I have below analysis on DLF. 1. We have nice ABCD reversal setup with 2.618 level retracement. So can expect some upside move from here. Gap down can change the possibilities. 2. We have potential Bullish Butterfly in the making on hourly chart. We are in the D leg. I will cover that part once we get some confirmation when D leg gets real extended towards...

nirav5 Updated 

We have been watching this D leg. Now its near channel support. Looks like a valid reversal from the potential reversal zone. If today's low is not blown we have bullish crab activated on Relinfra.

nirav5 Updated 

We have potential Bullish BAT pattern on Reliance. If reversal comes and support of 1000 - 1005 works as a support level then we can have the upside move towards previous channel resistance.

nirav5 Updated 

We have multiple setups of Bullish Gartley on IDBI. Channel support is nearer and slightly below that level can be treated as SL point. Just wait for the reversal signal before taking a trade as index is not supporting.

nirav5 Updated 

We have a structure within a structure. If 510 level remains unbroken we have an interesting setup in TATAMOTORS. Currently we have Bullish BAT setup, providing 510 support really works as a support :). If Tatamotors starts moving upside then we can have a potential bearish harmonic setup. Since C leg is almost near to A leg and channel resistance makes me guess...

nirav5 Updated 

If 5th wave (E) is pending then we can have it with the support of 135 level. Please find the supportive harmonic structure.

nirav5 Updated 

When any stock or index is moving in a channel, Harmonic pattern can be very useful in predicting possible breakouts. If Nifty holds 8500 and starts moving upside then possibly we can have a D leg of a Bearish harmonic pattern in the making. You can pick multiple X from the channel resistance. There are other patterns too in the current Nifty chart.

nirav5 Updated 

Current D leg suggests Bearish Bat pattern. However we need to check for the reversal. If Bearish Shark pattern is in the making than we can have D leg higher than X point.

nirav5 Updated 

Happy and prosperous Diwali to you all. My possible observations for Bankbaroda are as below. I am bit early on this so chances are there that it can prove otherwise. 1. We had a corrective wave 'a' of 5 waves shown as wave '1'. So probably what we can have ahead is 5-3-5-3-5 upside correction. 2. Possibly we are in the D leg of a bearish harmonic setup which...

nirav5 Updated 

We are in the D leg of a Harmonic setup in Relinfra. This can be a bit risky trade as the channel support is at distance. So kindly pick 1.618 (533-535) as support zone for bullish move. If taken out it can travel to next fib level. So wait for some reversal signal before initiating the trade.

nirav5 Updated 

On a daily chart We are in the fifth wave in PNB. Generally 5th wave can be expanded. Which is quite visible and it can expand further too. Once it will get completed we can see a wedge result as a sharp fall breaking down. Before that It can go and touch upward channel resistance. P.S. : I am quite new in Elliot Wave theory so experts kindly correct my wave counts.

nirav5

Currently we are in the 5th wave as per daily chart. It has started moving in a channel. Considering recent sideways market, IDFCBANK can be a good trading candidate for some time ahead. It can be a good to buy near channel support and sell near channel resistance. Please note that if the 5th wave turning a truncated wave then the high of 3rd wave i.e. around 83...

nirav5

We are currently in the 5th wave on ASHOKLEY. Recently it just touched 1.618 retracement at 90.60 and returned. If the 5th wave is completed, we can expect some correction towards downside.

nirav5 Updated 

Currently Reliance is trading near crucial level. - If channel support is broken than it will be a good candidate to short. - Potential Bearish Gartley or Butterfly 's D leg can be in the making. (B point was 0.618 of XA). If that be the case we can expect an upward journey above 1100. In the case of Bearish Butterfly it can go way up to touch the upward channel...

nirav5 Updated 

If the 5th wave is completed with the previous support of 1210 - 1225. We can expect some upside recovery. Corrective waves shown as a,b,c are just the directive guidelines. Kindly confirm at your end before initiating the trade.