Right now, there are two possible scenarios
1. Nifty breaks previous low of 6870 and reach to strong support level at around 6600. (marked in Red Arrows)
2. Nifty goes up to 7125 levels and then break above close above resistance level of 7240. (which can be a trend reversal for nifty) marked in Green Arrows
Therefore, it is a close watch at nifty and stocks...
Continuing from the monthly forecasts in the website, an elliott wave analyst can observe the same as we do, the nifty peaked at an all time high of 9119.2 on mar 2015, the downfall is around a year and when will it end...?
obviously an traditional trader doesn't have answer for this question but the perspective that elliott offfers is significant & different and...
Nifty0.26% has formed a BULLISH HARAMI on weekly basis. We are expecting NIFTY0.26% to gap up on Monday and may stay long through the futures expiry on 25 February 2015. futures may touch 7330 to 7365 levels.the same has been confirmed by Stoch RSI , RSI & CCI . The above is our personal view. It is not a tip, Nor a proposal to buy/sell , Please consult your...
Nifty expected to rise.
Nifty has formed a BULLISH HARAMI on weekly basis. We are expecting NIFTY to gap up on Monday and may stay long through the futures expiry on 25 February 2015. futures may touch 8330 to 8365 levels.the same has been confirmed by Stoch RSI , RSI & CCI. The above is our personal view. It is not a tip, Nor a proposal to buy/sell , Please...
Three big reasons on my personal views
1. Bearish Sandwich candlestick pattern
2. RSI Divergence
3. Long Term Bearish Trend Structure Formation on weekly chart
With concecutive Lower Highs, it shows that Nifty resumes its down trend. Now it may retest the 7245 levels before any further change in trend.
In my personal view, investors in a longs calls should cover their positions.
Nifty is expected to sink approximately - 200 points. Main reason being bearish engulfing formed in weekly chart. On End of day basis it may look a bit bullish as far as technical levels are concerned. but weekly chart pattern confirming the other way around. It is usualy seen that the next candle of Bearish engulfing usualy opens with a gap down. What is to be...
Nifty futures made a Hammer on January 01, 2016 and 02 January 2016 gave a confirmation that the market Is going to go bear. As Nifty futures came bellow our Buy level of 7905 and candle confirming a bear rally. On End of contract basis a call for short was initiated. The market came lower than target 03 of 7331. The chances are bright that Nifty futures may...
HDFCBANK is forming a perfect descending triangle pattern over last 3-4 months and desperately need a breakout from the pattern.
Descending triangles can breakout any side so lets wait till the breakout happens and it became more valid with 3 touches on flatline.
Keep HDFCBANK in your list to look out for shorterm and if it gives ample opportunity to enter after...
NSE_EOD:NIFTY which is traded in NSE,Mumbai & scrip name as Nifty Futures January is likely to continue its downward move and possibly reach around 7250's.
We know that Gaps act as Resistance/Support and check your trade plans to place stops around that region NSE_EOD:NIFTY from 7650's to 7750's.
Possible Targets around 7200's to 7250's and its more likely to...
1. Nifty is Making My Reversal patterns in Daily chart and can give a sudden upside very soon.
2. It is Near my previous sell targets of 7350
3. Very Good Buy Opportunity on 7440 For the Targets of Over 8350 very soon, even this month.
Confusion on Wave count :
Either Nifty is in last wave 5 of ABC correction -- means it will end around 7550 or below !!
Or We are in wave 2 of wave 5 on up side -- meaning ABC correction already over at 7550 !!
7550 -- remains a buy on downside, if it comes !!
Biased View: Wave 5 has already started on upside -- remain long after wave 4 ABC correction over !!
