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...
Bank nifty has reversed from 1.618FE of wave 1. IF it takes support at the 38% or 50% fib levels (and the trendline), then it could result in a sharp up move to new highs. This should pull Nifty too; just that the wave structure is clearer here. (Support at the 23% fib level for the up move after that is possible too but then an initial entry would be difficult...
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.
DHP India just seems to be starting a major uptrend. It's possible we're at the wave 2 low and hence a great opportunity to go long. RSI has also taken support at the 40 level. (Confirmation of wave 2 low would be after a close above the UTL.) Ideally, wave 2 shouldn't be broken. A move and close inside the 0-B trendline could be a big spoiler for this count. ...
Wockpharma seems to have broken out of it's channel to the downside. Hence a move towards the LTL is possible. IF there is an upmove (and a reversal) from the channel LTL (as shown by the arrows) then it'd be a great short. In general, up moves could be shorting opportunities. An up move and a closing inside the channel could be a spoiler for this setup.
Mangalum Drugs seems to be ending it's downtrend. A close above the UTL could signal the start of the new impulse. It's likely that this impulse would lead it to new highs.
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).
Airtel seems to be tracing out a flat pattern. A lower breakout should start the final wave 5 of wave C of flat down, following which it should go up.
This could result in a resumption of the uptrend. A closing above the UTL could confirm this. A break below would negate the setup.
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.
Normally, we all have opinion that prices will reverse at 61.8% fib ratio ( that's why its called Golden ratio). Put that in combo with resistance zone, the probablity of getting good trade increases. Thats what we have here in BankNifty, with price around 18900's and resistance zone in same area, I expect the market to reverse here. We do had similar kind of...
NIFTY MEDIA seems to have formed an inverted hammer at the top of the trendline. Till a close above the UTL, this could result in a fall down, and hence in the media stocks too.
This could keep moving higher till it doesn't break the trendline.
The downside might be limited in this stock. A break of the upper line could result in the continuation of the up move.
This could give a big move depending on the direction of the triangle breakout.
Lupin seems to have broken out of it's consolidation after tracing an Elongated Flat correction. In the long term, it seems to be a good long.