sreebhashyam

sreebhashyam

1. Optically looks higher, 2. Increase the time frame looks suspect 3. Revisit DXY looks doubtful 4. Near term 1.2665-1.2705 to rule, roast before the toast.

sreebhashyam

There Goes the Commodity pack. It was CAD yesterday post inflation data, pierces the supports. It is AUD today post CPI piercing the top. Both of them stronger on all crosses. 0.6655 holds for 0.6700 attempt. Box within the larger box, one to break and another to reach!

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Rating agencies comments that "Water Crisis" can undermine India rating may get un-noticed to the casual eye. The rush to the banks, despite the select few, on relative value, will need finally be seen percolating to the rest of the pack too. One has to wait and see. Clearly the cost concerns appear to be behind. The only short-term hurdle is HDFC share near...

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The bulls celebrate, the bank's roar, more particularly the heavy weights, the triad of HDFC AXIS and ICICCI. Bring old memories back when they held the market to ransom on occasional indulgences. Select one's pushing the whole Group. FED officials comment on not to be influenced by the Group Think (a reference to the members to have their own individual...

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Alternate moves, flipping sides, not for the ordinary, buy yesterday, sell to-day or vice versa or most difficult approaches of the trader, A range trader too will find this difficult. The PIP is larger frames the candle colours or altrnating. The actual graph is the larger version of the same. To buy or sell is not to be is the dilemma, till such time,...

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Similar in Neck pattern here too, but the big difference is the fill of the previous two large wicks and the large bull candle, close above the channel. The PIP is the intra-day version, indicating the series of wicks as the possible supply zone while the large bull candle second from the upward trend line to act as the support one. Not much to expect, other...

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The fall did materialise, the close tad in the green. In neck pattern is the shortened version of the bullish piercing or the dark cloud pattern if it appears from above. While the double bearish engulfing is still in operation, the in neck suggests that the bull's have not made a stronger impact. In sum, bears did in the end held the edge. On the contrary...

09:46

sreebhashyam

Small initiative for those looking how to use the tools in Trading View for drawing the Elliot Wave principles.

sreebhashyam

All that Glitters is not Gold. DXY is the one to watch as it approaches 106.00 One more failure of it? may be. What if it breaks and moves past 106.00 The cue and clue is Euro. A potential H n S, shake it to believe it? If that neck- is offered as the line of break. We can take solace in French by Merci, thank you. Welcome to the world of Par...

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Not much in the news, everything in the price. Just the slip and news and shock of Aus defeated by Afghan, The rounding top or the inverted cup and handle, pushes price action to the lowest area of support. The big picture trendline support is lurking to life line. It is also in the area of Mid Bollinger Band. We have seen this before and many times in...

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Looks a day of down. Cues are neutral to negative. Lots of whispers and noise around the GST and budget proposals. Then there are concerns on some funds doing the front running, what is new. These things do happen all the time, at the height of the bull markets. This time is different. When chasing becomes the only art and not valuation and markets continue...

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It is rare to find this pattern, for that matter in the last one month the Candles that we see are once in a lifetime kind off. The fade off story continues in the open, the double engulfing pattern is powerful one and sends the warning signs for any more move higher than what we have seen already. Crude prices remain higher, USDINR higher in controlled...

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Expected break unfolded, we are out of the congestion part of smaller degree wave ii In the third wave which can accelearte break below 1.2640, while the 1.2690 holds any rally. The targets range min 1.2625-1.2600-1.2570, Only daily close above 1.2710 negates this view. Extremes moves can stretch towards mid 1.2500 area

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Markets most importantly banks go YOYO moves, as well as select sectors like Fertilisers. Make believe world. Our own NVIDIA movements in some places, forgetting the high and mighty at international world could not achieve that. Concerns on speculative futures and options to tax them galore, not sure who is afraid, when the broader market is, tell me what next...

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June 21, Longest day, T Shirt Day, Music Day, Full Moon Day and Yoga Day. Wear Hear Feel and survive, TGIF. The last near five plus trading days, it is clear the Fade the open rally which is visible. We posted the same. Volumes are a concern in this up move, despite the sparkle in many places. Weeklies are near Doji as of now. Doji in itself is not a bad or...

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Central Banks meet, 1. Bears held below 1.2740 that is the short term stop or slightly 1.2772 2. direct move below 1.2700 invites back to 1.2640 3. failed in the larger upward old support now supply line. 4. 1.2640-2740 new range?

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AUDUSD While we can filter the bull tone in various frames, the above picture still shows, will come back later not now 0.6620-0.6720 are the twosides of the range in the immedaite attention, while steeper up move and down move are witnessed in the recent times. If the labelling looks neat and correct, the triple XYZ in motion, which means a failure at the...

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It was show of strength reserved only for the bulls in the bank. Rest all places rush to cover the stale longs unwound in big time. When was the last time one witnessed NIFTY in marginal RED while Nifty Bank is roaring Green. The differential move is near 2% If differential is the only factor, then it was in 2022 such a move did unfold, but not with NIFTY near...