Talking Points: Technical Strategy: Bullish Bias Elliottwave Count: Impulsive nested count . HTG Note: Current price action on GAIL (BSE) is trading on impulsive nested bullish move. Script was able to break and testing it's monthly horizontal resistance. In larger monthly timeframe, it's trading on nested impulsive structure and require to have...
ENTRY DETAILS: PAIR: NIFTY ORDER: PENDING BUY ENTRY : 8621.40 STOP LOSS: 8719.60 TAKE PROFIT : 8970.34 R:R = 1.46
Happy to see INR covering some ground. Will this free fall of @USD, will it test Yearly support line of 2016 of 66.5?
This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... .zip (with PDF`s) @ my Google Drive In percents away from all-time high & low by last close (1482 Cross-Rates) drive.google.com Best regards :) Aaron
Modi's demonetization effort has bit the Indian economy quite hard. Perhaps there is a case to be made from a long term perspective that the banking sector is a buy after the recent sell off. Given the technicals and on going chaos, I'm going to wait and see if a better buying opportunity emerges. Possible targets are the parole black lines.
TITAN SELL SETUP Channel Brealout
The Nifty uptrend continues. The 1st target of 8770 is achieved. It's just that the structure formed is slightly different than the one shown earlier (previous ideas links attached). The updated one is shown in the chart. However, SLs and targets remain the same. Now, the SL is 8540 (from 8515). Any pullback can be bought at the fib retracement levels of the...
MRF has broken out of a high degree downtrend and is consolidating above the UTL (of the entire move down). Any move above the UTL (of the current consolidation) could be a good entry point for holding it till a target to new highs. This is in continuation of the previous post on MRF, in case that was missed (link attached). The fib levels would act as support. So...
Nifty can soon start it's up move. It'll break the black horizontal line and start going up. However, the count in the Bank Nifty is clearer, so an entry based on Bank Nifty would be a better idea. (The link for Bank Nifty is attached).
M&M is in an up trend and seems to have a completed a Flat correction today. A close above the upper trendline would confirm the start of the new impulse up.
The wave 2 correction in Mangalam Drugs seems to have become a bit complex. Now it appears to be at a structural support. Also there is 61% Fib support. So it's likely that the up move could start. Any move below wave 1 low would negate this setup.
Axis bank has started it's final wave 5 to new highs. A good buying opportunity (from long term perspective) could arrive IF it comes to retest the upper trendline of the latest correction (as shown by arrows).
Continuing with the previous ideas, Nifty seems to have started it's final move till 8770 before a higher degree correction till around 8350 (exactly level can be obtained once this rise is over).
This could go up for an impulse. Confirmation would be on UTL break. Nifty PSU Index is correcting as of now. Both could move up together.
The downside might be limited in this stock. A break of the upper line could result in the continuation of the up move.
This has broken through a long term weekly trendline. It's now correcting to the downside. It should resume it's upmove once above the upper trendline. The fib retracements and the trendline would be imp. support levels.