satheeshSelvisubramanian

satheeshSelvisubramanian

Current Trend: 1) The Nifty is exhibiting signs of a potential reversal as it is at the second Fibonacci retracement level and the top of a major parallel channel. 2) The formation of a doji candlestick at this level indicates indecision, suggesting that the current uptrend may be losing momentum. Possibility of Outcome: 1) The bearish signals from the MACD and...

satheeshSelvisubramanian

Current Formation - Elliot Impulse Wave 1) Wave2 took a support @ 0.5 level of wave 1 2) wave 3 took resistance @ 2.618 level of wave 1 3) wave 4 does not overlap on wave 1 .But it took support @0.618 level of wave3 (Fib level alone not met Elliot wave condition) 4) wave 5 extended wave Current Trend: : Current at Top of parallel channel and Max OI...

satheeshSelvisubramanian

Observation: 1) Max Call OI @1600( it can act as good resistance in upcoming series). 2) Currently trading near resistance Zone and 0.5 Level of Fib 3) Top of both minor and major parallel line. 4) Forms Doji indecisive candle Possibilities: 1) It it breaks parallel channel next level to be watch out for 1950 2) It it trades inside parallel channel next level to be 1350

satheeshSelvisubramanian

Pattern -- Elliot wave impulse formation Current wave - Wave E reason: 1) wave D not overlap wave A territory( check in monthly chart) 2) Wave E reached 1.618(1162) level of FIB.(Before it look a resistance at 1.232(955)level of fib). Daily TF Analysis: 1) It look resistance at 1.618 level +highest OI 2) Histogram showing some weakness in MACD 3) RSI...

satheeshSelvisubramanian

Pattern -- Elliot wave impulse formation Reason: a) wave D not overlap wave A territory b) wave D is not retrace more than 50% c) As per Elliot Wave Impulse Formation. Wave 5 is typically inverse 1.236 – 1.618% of wave 4 Next Immediate Target: Up - 20795 followed by 21078 down - 20549 followed by 20267 Resistance Area to be look on for based on open...

satheeshSelvisubramanian

Current formation - Triangular Break out Took a support at Fib 1.618 level +bottom of parallel channel Possibilities: 1) If it closes above 946 level, there is high possibility that it will reach all time high again 2) It can take a resistance at current level and can again take a support at bottom of parallel channel First Target: up - 999 down - 908

satheeshSelvisubramanian

Daily Time Frame Analysis: Clean breakout from 19800 level range.. Breakout: 1) parallel channel 2) Resistance zone breaks.. 2) triangular formation breakout near Resistance zone Weekly TF: 1) Took a support at previous Top of Parallel channel 2) Pattern -- Elliot wave impulse formation reason: a) wave D not overlap wave A territory b) wave...

satheeshSelvisubramanian

MACD -- Momentum indicator when we can use this 1) for trend reversal(if gap bw two MA is decreasing and crossover) 2) for continuation of trend( if gap bw two MA is increasing ) 3) as per my assumption it cannot be used for price divergence. Observation in Nifty50 chart: 1) High in MACD not broken till COVID but market doubled from 2007 high (6118 mark to...

satheeshSelvisubramanian

current Trend: Double Bottom with morning star formation (need to wait it end of week for confirmation) Two possibility: 1) reverse from this trend line support (it consider as false break out from parallel channel and has high chance to reach top of parallel channel(ST as of now) 2) if it breaks(major trend line is broken) it has protentional to reach 2000...

satheeshSelvisubramanian

Current Formation: Top Declining and flat bottom formation Since TM Trading above the 200EMA and major long term trend line.. can consider it as Bull market phase Normally this kind of formation will breakout in upside..(In case of Bull market scenario). major support - 376 Resistance - 461 reverse possible if it breaks these level Huge momentum can be...

satheeshSelvisubramanian

Currently its in 1) Uptrend parallel channel 2) Top of parallel channel( both down and up trend parallel channel) 2) Wave ABC completed with target of 1.618 High possibility for down side as per chat and MACD MACD: Convergence seen of MACD and signal line..weakness for bull target: first level -1725 support: first level -1560

satheeshSelvisubramanian

Current Trend: 1) Uptrend parallel channel 2) It took a support exactly at 2 level of Fib .FIB cord -(1953.90 -1665.00) 3) currently it took a resistance @0.5 level of FIB exception: year of accumulation zone.. if it breaks the 1654 level , we can except another 300 point movement from there. once this parallel channel is broken upside ,can can except positive...

satheeshSelvisubramanian

Current trend: 1)current it in bottom of lower high formation forming the triple bottom .....so high possibility for reversal is possible. 2) No pattern confirmation yet. support: 2527 followed by 2445 Resistance: level to be watch out for 2650 From this level there are two possibility 1) It can took a support from 0.236 level of Fib and again goes back to...

satheeshSelvisubramanian

current trend: 1) It took a support exactly at 0.382 level of Fib 2) It took a support at long and short trend line 3)it effectively close above this candle(jan 27 )..for two days. Forming like Bullish engulfing candle. 4) currently Nifty breaks short term trend line and close at 0.236 level of fib Indicator: RSI: If u observe past behavior Nifty, Once it...

satheeshSelvisubramanian

Current Trend: 1) moving in uptrend parallel channel and at bottom of parallel channel 2) MACD -Some weakness print in histogram. But confirmation not yet(cross over required) 3) at 0.786 level of support Once it breaks 1Hr Consolidation we can turn bullish on Reliance with First target of 2440 Target to be watch: Support : once this level is broken(2300) we...

satheeshSelvisubramanian

Current trend: 1) 1) Top of parallel channel 2) Candle Formation - hanging man pattern 3) Took a resistance around 1.236 level of Fib MACD: Weakens in histogram along with MACD line crossing over signal line -- Bearish Signal Support: if it break 900 level of support (closes below 900 in daily basis) next target around 827 level Resistance : Previous high...

satheeshSelvisubramanian

Current Trend: 1) moving in uptrend parallel channel and at bottom of parallel channel 2) MACD --in negative territory with bearish momentum 3) at 0.786 level of support(2311.00-2856.15) [ No candle confirmation yet) Target to be watch: Support : once this level is broken(2369) we can except Reliance turned bearish (Parallel channel breakout and wave A level is...

satheeshSelvisubramanian

Current Situation: 1) Took a support @0.5 level of FIB(16747.70- 18887.60) 2) Double Bottom Formation 3) MACD Cross Over Along with histogram in positive territory 4) Parallel channel Support Current Trend-- Upward Parallel channel What to Except: Once it breaks trend line , we can except target of 19k (until it breaks Parallel channel in Down side)