NSE:BANKNIFTY Bank nifty is facing strong resistance at the midline of long term channel. Also, most private banks are close to completing their long term tops. Read here:https://www.tradingview.com/chart/HDFCBANK/IozqHcfE-HDFC-Bank-Approaching-Long-term-top/ We might see some retracement towards 18900 levels early next week, which should be a good level for...
Nifty 50 is still in uptrend from 2003 and trying to count the waves it seems a 5 wave uptrend. The peak of wave 3 is 1,61 fib extension of wave 2. Wave 5 could be in a range between 1,27 and 1,61 extension of wave 4 (round number 10000).
Hi Guys, We have potential triple top in Nifty which is currently in formation now and once we get valid confirmation for downside move we can initiate short positions.If you check RSI its giving bearish divergence as of now but we need to check what happens when triple top is completed. If everything goes as planned we can short Nifty and in this particular...
Coming back to the scrips which we keep close to our hearts - Yep, Nifty's.... We have bullish bat pattern formation which is currently in C to D move, so once the move gets completed at D point we can Initiate long positions in Nifty. The other blue lines going around chart are the idea posted on higher timeframe(4h) lastweek.. that idea is still valid. But here...
HDFCBANK short at key 1.62% Fib ext. Note it seems to b forming a bearish 3pdh pattern
$GRASIM building further short (see prior run up and selloff)
Hey Guys, This weekend lets do simple Elliot wave analysis on Nifty. There is generally an universal rule followed while using elliot wave. (i.e) Wave 3 will be biggest & at times wave1=wave 5. Lets stick to this simple rule and we have drawn few trendlines on daily and 4h time frame on Nifty. The support (redline) is retested thrice and we are...
With continuous gain in volume and up-trending moves, it is making new breakouts very frequently and today I observed the same. I expect today's breakout will speed up its movement to 520 levels. Target 1: 520 SL: 480
Will provide explanation of trade later....
Will Update soon... bcos if I write desc now, we may miss trade !
Hey Guys, In Part - I of Nifty trade Idea I have told, I will wait for pullback.As expected market made pullback to our expected levels and we have few gaps below 8290's which I expect to be filled soon. So, being conservative trader I am initiating longs around 8290's-8300's only part of my positions. So that if market moves down I will average, thats why...
As per the weekly chart, the market looks strongly Bullish and will strive to reach to the range of 8530-8600. It is a good time to reach out for strong trending stocks to get the best of this current rally. It is also wise to keep a track on the weak stocks that may be at the urge of reversal when rally ends. For now just enjoy the rally
Hey Guys, As you can see from the chart we have a completed bearish cypher formation and price is staying above our usual entry level in Axisbank . We can take this trade now also, bcos it gives us the advantage of reduced risk reward, so even incase of loss we will be losing lesser compared to what we lose if we enter @ Usual entry level. Moreover, you can...
Nifty should fall completing final wave for correction. However, it can give the fall from 8295 (Flat pattern) or higher (Expanded Flat) till 8050-8005 (50% retracement of impulse). Then we should get an impulse up.
Nifty seems to have completed an a-b-c correction. So it should make a final upmove before the fall. The Flat possibility seems more likely.