rcanu

rcanu

THE CHARTS HAVE NOT CHANGED MUCH FROM FRIDAY.THE MOVE FROM 21450 IS LOOKING TO BE CORRECTIVE AND WE EXPECT A BOUNCE FROM CURRENT OR FROM SUPPORT ZONE/TRENDLINE,BUT THE S/L IS DEEP AROUND 16100 LEVELS.TOMORROW MORNING THE MARKET SHOULD GIVE A CLEAR VIEW.TILL THEN IT IS BEST TO BE NEUTRAL.

rcanu

ALL DETAILS IN CHART.

rcanu

DETAILS ARE SHOWN IN THE CHART.THE MOVE FROM 7512 TO 9039 IS MARKED AS A/1 BUT IT LOOKS LIKE A CORRECTIVE ABC AND NOT IMPULSIVE .IN BOTH CASES WE SHOULD SEE A DOWN SIDE ON SHORT TERM BASIS AND BREAK BELOW 8454 TILL LEVELS SHOWN IN BOX .IN BOTH CASES 9039 SHOULD NOT BE BROKEN .IF WE MOVE SIDEWAYS WITHOUT BREAKING BELOW 8454 ON MONDAY OR WE BREAK ABOVE 9039 THEN...

rcanu

ALL DETAILS IN THE CHART LET BANKNIFTY SHOW WHETHER THE MOVE FROM LOW IS CORRECTIVE OR IMPULSIVE .THIS SHOULD BE CLEAR IN A DAY OR TWO.

rcanu

THE DETAILS ARE SHOWN IN CHART.ABOVE 8750 WE WILL TARGET MINIMUM 8920 ODD LEVELS IF NIFTY SUSTAINS BELOW 8750 WE CAN SEE A MOVE TILL 8500-8350 LEVLES.THE DOWNSIDE WOULD EXTEND IF NIFTY SUSTAINS BELOW 8350.FOR TOMORROW LET NIFTY REACH THE LEVELS FOR CLARITY.

rcanu

AS DETAILED IN CHARTS

rcanu

BANKNIFTY IS BUY ON DIPS FOR VERY SHORT TERM AS SHOWN IN CHART

rcanu Updated 

AS SHOWN ON CHARTS NIFTY IS BULLISH FOR VERY SHORT TERM.NOTE THE DIVERGENCE IN RSI.

rcanu

ALL DETAILS IN THE CHART.STILL CONSIDERING BOTH POSSIBILITIES AS DISCUSSED EARLIER.FOR VERY SHORT TERM WE SHOULD SEE BOUNCE FROM CURRENT LEVELS OR FROM 7400--7350 LEVELS TILL THE UPPER TREND LINE.

rcanu

I AM UPDATING MY LAST POST ALONG WITH A NEW POSSIBILITY.IN BOTH CASES NIFTY IS BEARISH FOR SHORT TERM .IN FIRST POSSIBILITY NIFTY WILL FALL BELOW 7834 STRAIGHTAWAY WITHOUT BREAKING ABOVE 8882 AND THERE WILL BE A SHARP BOUNCE FROM NEW LOWS.THIS LOW CAN EXTEND TO MAXIMUN 7400 LEVELS.IN SECOND POSSIBILITY MARKET WOULD REMAIN SIDEWAYS AND 7834 SHOULD NOT BREAK ON...

rcanu Updated 

details are in chart.market should be sideways as wave 4 in larger time frame is in progress we should fall on very short-term.support is shown in coloured box

rcanu

THE DETAILS ARE SHOWN IN CHART IT IS BETTER TO WAIT .LET THE MARKET SHOW THE FINAL MOVE.

rcanu

WAVE B IS PROGRESS AS PART OF AN IRREGULAR CORRECTION USUALLY SEEN IN WAVE 4 MAXIMUM PROJECTED TARGET FOR WAVE B IS AROUND 8200 ALTHOUGH MINIMUM PROJECTIONS ARE ALREADY DONE AND AFTER COMPLETION WE SHOULD SEE A PULL BACK.LETS SEE HOW THINGS UNFOLD.

rcanu

GO LONG ON COMPLETION OF WAVE B.

rcanu

FROM LOW OF 21360 BANKNIFTY HAS COMPLETED WAVE A AT 25670 AND NOW WAVE B IS IN PROGRESS WHICH IS PROGRESSING AS AN ABC STRUCTURE. BANKNIFTY WOULD MOVE SHARPLY UPSIDE ONCE THIS WAVE B IS COMPLETE WHICH MAY ALREADY BE COMPLETE OR IS VERY CLOSE TO COMPLETION. THE COUNTS WOULD BE NEGATED ON BREACH OF LOW MARKED AS START OF WAVE A.

rcanu

THIS IS MONTHLY CHART OF NIFTY WHEREIN WE HAVE COMPLETED WAVE 1 OF LARGER TIME CYCLE AND MAY BE WAVE 2 IS IN PROGRESS WHICH SHOULD ATTAIN MINIMUM 6825 LEVELS. THIS COUNT WOULD BE NEGATED ON BREACH OF 12430 HIGH .

rcanu

This is weekly chart of nifty from low of 6825 to 12440. In this we have completed wave1,2,3 and wave 4 is in progress. This wave 4 is progressing as a skewed triangle and we be very near to completing it and proceed for a new high. Only condition the trend line drawn should not be broken on weekly closing basis.looks strange?? if the trend line is broken then...

rcanu

NIFTY MAY HAVE FORMED AN INTERMEDIATE TOP AT 12430 AND WE ARE INTO A CORRECTION.IN THIS CORRECTION WE MAY HAVE COMPLETED WAVE A AS AN abc PATTERN AT 11615.NOW WAVE B IS IN PROGRESS AND IN THIS WE MAY HAVE COMPLETED WAVE (a) AT 12160.THIS PULLBACK FROM 11615 TO 12160 LEVEL WAS VERY SHARP AND MAY BE FIRST LEG OF A TRIANGLE.WE SHOULD BE MOVING SIDEWAYS NOW IN SHORT...