riskOmeter

riskOmeter

This is Daily chart of Bank Nifty which has given confirmation to multiple reversal signals. 1. Rejection Candle on 11-12-23 had a good follow up move today. 2. Price Divergence with momentum Oscillator - confirmed by today's move 3. Bearish Crab pattern activated with today's move. Crab and Butterfly patterns appearing at significant lows / high (like all time...

riskOmeter

Looks like the consolidation over for DXY and its ready to fly "Higher for Longer" Some may call it a flag pattern breakout. Momentum Oscillator also after retracing back to 77-80 is rising again. Super move ahead! Equities, commodities are in for a roller-coaster ride. Saavdhan Rahein Surakshit Rahein

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Price has crossed weekly resistance convincingly. Volume candle is also supporting the upward push. Cup-n-Handle reversal pattern. Chart looks interesting from medium to long term view. Lets see how this develops. Happy Trading !!

riskOmeter Updated 

Friday's price action a) brought the price precariously close to the descending triangle breakdown b) Trendline recapture miserably failed and confirmed the breakdown Both (and 2 other EW based factors) points towards price reaching green zone after break of blue zone. The momentum oscillator is also no-where near the oversold zone and indicating some more...

riskOmeter Updated 

Current consolidation in DXY is nothing to be too excited for. The chart is surprisingly following the schematics dot to dot. Saavdhaan Rahein Surakshit Rahein

riskOmeter

The stock broke out of the triangular structure, typical for wave iv of some degree. In the instant case its 3.iv and 3.v may reach around 75. Still 4 and 5 pending after this move. Lets see how this develops. Happy Trading!

riskOmeter

Chart is self explanatory. Ideal scenario will be a day or two consolidation at current levels which will make the momentum oscillator cool off to 78-82 range. Post this consolidation, we may see the explosive move. And everyone knows, an explosive move in this index means a lot for riskier asset classes. Savndhan Rahein Surakshit Rahein

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Please ignore the counting. Classical TA suggests - Falling wedge formation - With Divergence in momentum oscillator Breakout from the wedge may be first signal of short term trend change. The structure of up move will decide whether the new trend sustains or not. Happy Trading

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2nd rejection from the falling trend line. The pattern normally completes, in such a case, and price tests the lower trend line. Let's see how this develops.

riskOmeter

Clean 5 wave rise from 1101 Subsequent fall stopped at 66% Today's Price action indicating strong reversal On the upside 1490-1520 will be important range to cross Lets see how this develops

riskOmeter Updated 

After a long correction both time wise and price wise -> stock showed first clean 5 wave rise -> what followed was a perfect "abc" correction which touched 66% retracement levels We cannot get a more cleaner structure in EW than this chart has provided for Wave 1 and Wave 2 The reversal came with strong 1 day candle that closed again above the falling channel...

riskOmeter

The price moved in a 5 wave up. This could be a probable Leading Diagonal of the fresh move that started. Risk Reward looks favourable for buying near the zone and we would look to buy the scrip for at C / 3 up. Invalidation point 453. Lets see how this develops. Please note these are personal views and we are sharing as we find it an interesting idea and may...

riskOmeter

High Probability -> Dangerous -> Diamond Reversal Pattern formed In addition. Double Top near 445-455 range Initial support has been hit 3 times....next time it hits after making lower highs, it would be very difficult for the support to hold the price. Time to be extra extra cautious in the stock.... Stay Safe Stay Healthy !

riskOmeter

Price making bearish divergence with the momentum indicator last 3-4 days price action suggesting price hitting the wall. We will see if History rhymes this time also. Don't know if Manappuram case will have a spillover effect here also. Happy Trading !

riskOmeter

It is often said - "History does not repeat, it rhymes" Price is making a rising wedge pattern similar to the earlier one (on the left side). It has also reached the previous resistance. Q - > Will the next move be similar ? A - > Not sure right now, but indications of being extra cautious are popping up as the days go by Indications - 1. The steepness of the...

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First 5 wave clean rise and post 50% correction 3/c started from 1380. Today's closing might confirm Inv H& S breakout. Lets see how far this move goes. Happy Trading

riskOmeter

As per Stan Weinstein methodology, stock is in late stages of accumulation Trading above 30 Week EMA People following that methodology will be keeping a sharp eye on this stock. From EW - Price has reached the resistance level in a clean 5 wave rise, after completing a 78.60% retracement of the whole rise since its listing. Any retracement would offer good...

riskOmeter

The price hit both horizontal resistance and falling trendline resistance in a clean 5-wave move. Is it start of (3) rd wave - we will see. In the short term, any dip through the anticipated path could present a good RR entry (near 1140-1160), as it will also complete right shoulder of the Inv H&S. Looks like IPL fever is here to stay for the scrip. Lets see...