ParimalDevnath

ParimalDevnath

Flag gave handsome return. Now there will be small correction or consolidation since there is a Negative Divergence. It will take to new height once the correction finishes.

ParimalDevnath

Wave count: 3rv wave up is completed and 4th is running in a consolidation form. 5th will take price to 321 to fill the gap.

ParimalDevnath

Positive Divergence, 50 DMA crossing 100 DMA, price moving above 200 DMA, a Rounding Bottom Pattern firmly in place and then a consolidation-- all bullish symptoms. So there is a breakout possibility. Yet immediate resistance comes at 300 since the bears are holding the highest OI Call position. Bulls are holding firm at 290 Puts with huge OI position. So any dip...

ParimalDevnath

Price rose sharply (that is how a Flag Pole is made and this is the first criteria for identifying a Regular Flag Pattern) from lows on the back of a Positive Divergence and now a Bullish Flag is in the making. Price is trying to breakout. Go long keeping an SL at the bottom of the Flag. If fortune strikes price may rise towards 200 DMA. But we avoid being greedy....

ParimalDevnath

Two breakouts-- Consolidation breakout and then Flag. Keep an SL at comfortable level and go long. Price may move swiftly. Book out on good gain. Trade at personal risk.

ParimalDevnath

Flag formation. High probability of a breakout taking price to resistance level of 220-5. 50 DMA about to cross 100 DMA is quite significant. Every dip may be lapped up. Please use SL so preserve capital and make good gain. Trade at your own risk.

ParimalDevnath

Thursday's 101 points were more than fully retraced on Friday. Nifty took help of 9 DMA and rose sharply above 5 DMA. So momentum above 5 DMA may be back. Nifty heading towards the Pitchfork resistance which is about 11412+. At this level Stochastic Indicator will show Negative Divergence and MACD will remain highly overbought. So some consolidation may happen...

ParimalDevnath Updated 

Second consecutive Flag forming. If market condition favors, Flag may breakout. SL must.

ParimalDevnath

Pattern of Flag and wave count and Pitchfork alongwith MAs as posted twice earlier is intact. Regular Flags are much reliable yet SL is necessary so save capital.

ParimalDevnath

Same. Flag pattern. Favorable market is wanted for a good trade.

ParimalDevnath

Long held support proved to be a solid base and price flared up. This sharp price move in a straight line is a Flag Pole and it is quite possible that a Flag is going to be formed. Keep a close watch on this counter. FMCG is in good shape.

ParimalDevnath

Flag Pattern (read the previous post): Traders tried to breakout but there was market pressure. If market stabilizes, this Flag will breakout. SL is a must. Disc: Tare at your own risk.

ParimalDevnath

Stock market is a game of probability. There is nothing absolute here. None can say how Nifty will open tomorrow morning and close at the end of the day. Technical Analysis is a proven method to appropriate this possibility. 101 points cut. Below 5 DMA (momentum MA) Price is halted at 9 DMA. Below this price may take support at 15 DMA which is also the Median of...

ParimalDevnath

Today's candle is like a spinning top-- profit booking. Bulls will wait for suitable correction or consolidation. Major trend is up and it remains very much intact.

ParimalDevnath

I repeat this recommendation. Nothing changed in the pattern. So we wait for breakout.

ParimalDevnath

100% gain within a month time. So the Flag Pole fulfills the strict condition of a straight line. Now a perfect Flag is forming at the top. Bears are holding onto 200 Calls. A breakout above this will take price towards 220-5 and the move will be sharp.

ParimalDevnath

Bulls were a little busy taking profit at the resistance of Pitchfork. They are not exhausted. On the intraday basis bears increased their position a bit at 11500 Call strike. Bulls are holding firm their fort at 11000 Puts and in fact made significant increment in fortifying this level. Overbought TA. We may see some healthy correction or consolidation in coming...

ParimalDevnath Updated 

Yet to give the breakout of the Flag. Price at the support of Pitchfork.