Studying the EW wave with Harmonic and finding out high probable zones from from which swing high and swing low forms up has been a passion for me.
I think EW wave analysis with Harmonic M and W structure provides low risk and high probability setups. One of the advantage of this analysis is to have minimum risk as these are all leading indications of the price...
Possible targets are explained with FIB relations.
It is at Harmonic 1.618 FIB PRZ but not showing any weakness still
I still feel 1075 to 1100 is a high probable zone from where we should see profit booking.
Since 2010, on the monthly chart, the stock has tested a level of 100 three times. Now the stock is testing level 100 again today. If stock sustains this level, we can see the upcoming levels up to 120 and above in a couple of months.
The stock is also strong fundamentally.
1st target 110
2nd Target 120
Don't get easily fooled by the positive news for metal stocks post budget, here is the weekly chart of Nifty metal! Sideways action since the initiation of the index! Now if you are good at catching tops n and bottoms of the market you can go ahead and trade it, but even Hedge fund managers have a tough time doing this so good luck 😉
TATASTEEL multiyear breakout, strong resistance near 750 level, need to be kept in focus by looking at the price action and the volume levels. levels as high as 910 developed in TATASTEEL. NIFTY METAL performing very good. STEEL companies all over the world performing well.
Go long on TATASTEEL with stop loss at 700 level, highly unlikely to be reached.
Price formed a double top pattern at major resistance level (on monthly charts). At retest of the support, price has formed a Gravestone Doji followed by Bearish Engulfing (on daily charts) both of which are negative signals. Since past 2 years corrections have been triggered from the month of January, again this cycle may be repeated
Script giving multiple signals by not crossing crucial 38-40 RSI levels.
Option Chain 130 String Support, May Close above 130 by Expiry.
All-Time Lowest value Strong Support around 120.
Trying to Break 50 Days EMA on a regular basis.
Inside Bar Formation ( 4 Candle Close Under One Candle ( Doji form on 16 june )
Price Is In Supply Zone ( Tested Once )
Price Is On Resistance Zone
ADX Above 25
+DI IS Above -DI
Go Short Below 146.75
SL :- 154.6 OR FOR Aggressive ( Previous To The candle which Broke 146.75 High )
Target On Support Of Trendline
It can BREAK Trendline also So Trail Your Sl...
The weight of the evidence remains mixed and suggests that there will be winners on the long side, winners on the short side, and a lot of stocks in the middle that aren’t going anywhere. Here’s NMDC Ltd. breaking back below former support/resistance near 78 and starting to move lower again. With momentum in a bearish range and absolute and relative price action...