The idea is based on the Elliott Wave Theory. Nifty has made 5 waves down (Impulse 1), and could start moving downwards again after a small correction (50-60%). Long Term View:
The idea is based on the Elliott Wave Theory. The current upward momentum is very low and the price is moving in a corrective structure. A downward move is likely from the current resistance zone (or a possible likely scenario with 61.8 fib correction). A move over 18480 invalidates this idea.
BPCL - Elliott Wave View. Pattern suggests a triangle formation, which means a bullish scenario is likely from this level. A move below 300 would be an invalidation to this idea.
Buy Above - 17960 SL - 17920 Targets = 18020,18080,18140 Sell Below - 17900 SL - 17930 Targets - 17860,17800,17780 Trade Safe, Strictly follow your STOPLOSS Happy Trading Guys
MRF - Daily Chart based on the Elliott Wave Theory. As long as the triangle stands valid, the price should correct more downwards. Correction could make further extensions if the next resistance level is broken.
The idea is based on the Elliott Wave Theory. The price is still correcting and will extend to 100% of wave X to 595. Below that level, further extension could be towards 450-470.
The stock is currently making a corrective structure and is likely to extend further to at least 61.8 fib. level. 1500 may be a good level to watch; below that we could also see 1420. This is based on the Elliott Wave Theory.
RELIANCE. Correction cycle towards 1900 level. Below 1850, could extend towards 1650 level. The stock is forming a WXY corrective pattern. The analysis is based on the Elliott Wave Theory.
Nifty chart has recently broken upward parallel channel (white) and taken support at 200 day EMA.. It has also formed a bear flag. Chart patterns suggest we're looking for a downward momentum short term. My short term targets are 17148 (Fib measured move), 16800 to 16650 (multi month support zone). If the 16500 levels get broke NIFTY will test 16049 (gap...
Hourly flag pattern breaks out with volume support. A good quality stock that is likely to see a swing in demand post-budget due tomorrow. Entry - 122-123 Target - 128/132 Sl - Below 118
15 year Chart In a UP trend Channel. Great Assets, So Fundamentally and Technically a great company. Inspite of whats going on, come back and re visit this post after amonth !!!
There is clear breakout in monthly time frame with volume. After that the stock has gone through a good consolidation for three months. Now it's time for another rally if the company posts good results this quarter. One can buy Daawat@CMP with short term targets of 133(19.50%) and 150(36.3%) and a long term target of 194.50(74%). Please let me know in the comment...
PVR breakout good potential upside due to upcoming good movies like pathan etc and good collection in upcoming quater
this is the updated view of my last post long zone - 2210:2080 SL: 1850 as looking like its doing 1-2-3-4-5, let me know if anyone wants more info or has any doubts in idea, will be happy to answer all query :)
My view is bearish as samllcap index is forming a rounding top pattern. Unless it negates the pattern, BUY ONLY selected strength stocks in momentum.
Look for opportunities in Midcap. RSI Divergence played In midcap and is now sideways. In Sideways market you can plan both Long and Short trades.
41600 has acted like quite like a Great Divide. The stock had a major slump today. Given the technical indicators, it seem slike the downtrend would continue.