pankajarora232

pankajarora232

So we had a good 2 days of upside. I am changing the possibilities a bit: 1. Possibility 1 (Red): We are in larger Triangle (ABCDE - Red) E done and we have made a bottom. Wave 1 of next leg up seems done, we should expect a 2 now. 2. Possibility 2 (Blue): We are in a Larger ABC (Red) and C is further an ED (ABCDE - Blue). In that case the leg up of last 2 days...

pankajarora232

Confusion remains: Either bottom done in an ABC in E OR it's just 3rd wave in C3 done and 4th going on. Crossing 22800 should give confidence that it's not C3, and we could have made a bottom. All in all, stocks are doing well, Metals, PSEs, Capital goods etc are already breaking above the levels they were at when Nifty was at 23k.

pankajarora232

We are in a confusing situation right now. Possibility 1 (in red): We are in an ED and E of ED got done in ABC Possibility 2 (in blue): Larger C is going on and only 3 of C3 is done - We can head till 20500 (even lower) in this case. In both cases we are either at bottom or within 5% of it. However, upside is big - at least 23500. One good thing is that we...

pankajarora232

Here are the scenarios (ignore technical details (as I can post only one chart per post) Possibility 1: ED in E of E - 22400 should be low Possibility 2: C started in E - Can go till 22000 - 22250 Possibility 3: C1, C2 done C3 going on - This will be bad. - 21600 possible Tomorrow (Friday, Feb 28) is a crucial day for us to get the answer. ...

pankajarora232

I am considering the entire correction from October highs as a triangle - ABCDE. We are now in E and E seems to be forming an Ending Diagonal - Another ABCDE. The chart shared shows internals of the Wave E. I have marked two alternates - Red and Orange, and in both cases we are close to end of correction which should end anywhere between 22500-600. If 22500 breaks...

pankajarora232 Updated 

We have done a pullback in X and at a key resistance level now. Expecting next leg down to start anytime. Good RR here for a short with 1905 as SL. Targets 1800, 1750, 1700.

pankajarora232

Weekly 4 seems over with 5 wave down looking complete in C of 4. Safe to play for 180. Trail for 200, 250.

pankajarora232

5 Wave down in C of 4 done. We should head up to ATH in 5. Low risk trade for 130k and trail to 150-160k.

pankajarora232

5 Wave down in C of 4 seems done. We can play for 25% pullback and trail to ATH +6k.

pankajarora232

5W down in C of 4 seems done. Play for previous swing: 25% and trail to ATH in 5th up.

pankajarora232

5 wave down in C of 4 done. Low risk trade. Play min for a pullback of 25%. Trail to ATH.

pankajarora232

We are back to ATH in an X. Ideally Z should test low or range, but safer to play for 2900 target with today's high as SL.

pankajarora232

We have completed, or about to Complete Wave B. A short entry closer to 2750 will be good. Targets are big. :)

pankajarora232

Gold is at an interesting juncture. Weekly 3 done. Wave 4 is forming an Expanding Flat in which A is done and B is going on. 2830-40 could be a good zone to look for shorts with 2860 as SL. Targets are big. So, ride :)

pankajarora232

We are top of falling channel. Considering the bias that the correction is not yet over, we can expect a Wave C in Y down. SL will be yesterday's high. Targets 1650, 1500, 1350.

pankajarora232 Updated 

Cummins is close to completing Wave 4. (Maybe last dip to 2500) Wave 5 targets 5000, 7000.

pankajarora232 Updated 

Siemens seems to have completed Wave 4. Maybe some dip left till 5500. We should head higher to 8000, 10000

pankajarora232 Updated 

HAL seems to have completed larger 4 or maybe W of 4. In both cases, looks good for 4000-4200 at least - which is a good +15% from here.