HDFC the financial major is in correction showing weakness in indicators, the MACD is having a negative divergence, the price is below the PF median line (subjective analysis but) which respect many supports and resistance shows its validity. Agreed?
My target for HDFC is 990 is a 38.2 retracement of all the Bull Run and I believe that it is completed a cycle...
Nifty can can go further down, watch for these levels 8066_8016 _7952.
The wave counts marked here is not a continuation of any
major wave. it is only a count for the current two or three swings.
That is how it works for me. Then if I find more clarity in joining them
with classic rules, I put and effort to join them for the next degree.
Till then all are an...
some one was searching for DIVISLAB.
trading below the median line, can come down
to 1000 level having good support. The PF analysis is definitely a subjective one.
But other wise it is correction time. The stock seems to be its 5th wave peak now,and a 38.2 % minimum correction can take the stock to 927.
The expected Potential Reversal Zone was further extend to 8250.8,
with D retracing 1.14 of XA, qualified as an
Alt: Bat pattern, will have same bearish impact as you can see now.
so watch for .618 and .786 or even to a full retrace to 7952 levels.
Read this in conjunction with other indicators.Current pullback from 7952 can retrace fully.
Nifty 30 M chart
Trading currently at Gann Arc 4x1 (red arc) resistance.
Support could be around Gann Fan 2x1 blue line 8100
and GannFan 4x1 green line near 8020
30m Macd showing a negative divergence and cross over.
Also note the EMA13x8 cross over on top
Resistance: 8130 above which we can expect 8350 to 8500
Support 8045 Stop loss.
A 0.618 retracement level is crossed already,
The next value .5 of the total Bull Run from the 6825 bottom to 8969 top, is around 7900 which also matching with a strong support Zone blue line mark. Market can go further down, as the indicators, the...