On Dec 20 - almost 10+ sectors in Nifty faced their individual resistances together - which " Triggered " a coordinated sell-off. I once again say the word - Trigger because FIIs and DIIs just kick started a sell-off and Retailer investors fell into the trap when they saw all their stocks across sectors started falling together. Just panic selling. At the end...
Time and again the stock market gets some knee jerk reaction from Investors based on some Hot News. But most news are shortlived and forgotten in forthcoming days. One such interesting counter is MMTC - A PSU Mineral Trading Company with 89% stake with Govt of India. Technical Analysis: Monthly - Inverted Head and Shoulder pattern indicating a...
Transformers & Rectifiers Ltd: TRIL When any Stock faces a Sudden Crash or a Sudden Rise - many Retail Investors go Ga-Ga over the question "Why why why did it happen ??" - especially on a crash. Their worry is on whether to Hold or Exit their holdings Such violent moves typically are caused due to some NEWS. Obviously we all have a portfolio of atleast 20+...
8. Nifty IT -1.71% 3 Months - Upward Parallel Channel - already rejected from top few months ago and 2nd attempt to break ATH going on Weekly - Beautiful Inv. H&S Pattern - BO is also done - Facing Rejection from 3months Resistance line around 36220 levels and coming back to Retest BO zone Is anything wrong here ?
7. Nifty Auto -2.28% 3 Months - Rounding Bottom BO done. Target 19752 - nothing wrong in 3 Months / Monthly scale - its going up and wick is getting formed once in a while Weekly - as you can see at every step - there is a Horizontal Consolidation (BOX Pattern) for some weeks then BO, again BOX BO and repeat..... When the stock / sector has a crossed ATH and...
6. Nifty Realty -2.43% 3 Months / Monthly - Beautiful Rounding Bottom structure - BO also done already @ 3M scale Weekly - Upward Parallel Channel Structure with a Confluence of 3 Months Resistance @ 755 acting together. Double Resistance - Double Strong Analysis and a big fall today Its not your FII friends / Covid Virus / Christmas Santa pushing these sectors...
5. Nifty Energy -2.68% fall 3Months / Monthly - After a steep rise initially - the sector has reduced the angle of growth - forming an upward parallel Channel with an Embedded Flag Pattern - BO is also done 6 months back Weekly - Precise Rejection from the Long Term Trendline Resistance. See how beautifully it touches the top of the Green candle and cuts thru...
4. Nifty Mid Cap 100 -3.27% Monthly - Upward Channel with Fib Golden Ratio 0.618 retracement - 1.618 extension Target given was 41,346. Target Met & Exceeded Weekly - Look at 1.618 level crossing and a minor correction caused by it. See how precise Technical Analysis work. Once a target is reached usually we find a retracement after testing that level Similar...
3. Nifty Small Cap 100 - 3rd highest fall today - 3.63% Monthly - Upward Parallel Channel BO + Cup & Handle BO confirmed at Monthly as of Nov Weekly - The Customary BO Retest process in progress. Today's fall has formed a Bearish Engulfing Candle, but only by weekly close we can confirm if it is still an Engulfing Candle or a smaller one with a wick at bottom. ...
2. Nifty Metal - 2nd highest fall among Nifty Peers - 3.82% Monthly Chart - After a 10+ years BOX pattern BO in 2021, it went higher and formed an Bullish Ascending Triangle and BO was also done Weekly Chart - After BO the usual retest is happening. Once again - compare the previous weekly RED candles - nothing alarming today and Bullish Pattern perfectly...
1. Nifty Media - the Biggest Fall among its Peers (-5.11%) - Comparison between Monthly & Weekly Chart Month - Beautiful Cup & Handle Pattern - BO attempted today but didn't sustain (no change in pattern) Week - Inside the Handle - there is an Inv. H&S pattern - Look at the rejection today from BO + Resistance zone of 2500 Neither is this the Biggest Weekly fall...
I'm holding all my long positions, before the sell off I sold a lot of covered calls, so I'm making some cash during this bloodbath. Price still trading within the bullish channel, I'll wait until next week to add or just hold. I already secured some cash from the covered calls and I saving it if I see bulls activity. The 360 level is very strong, I don't think is...
Yes, it looks bad I know. Even an there is engulfing candle. But there is a lot of support underneath. It may drop some more, but I don't think is going to crash. Give it a couple of weeks to accumulate purchase orders again. I'm holding this one for a few more months. I knew this could happen. I may buy some more but I want yo see some buying signal first.
27,8k was rejected and 27,5k was a strong resistance. Looks like we going down to 24k... 20k. An idea about incoming panic phase. Wouldn't be surprised if we hit 10-12k to be honest. Don't underestimate the drop power of this market. Good luck.
Globally we are seeing a good uptick in the market since few days but panic selling in NIFTY has brought it crashing down near major support levels. On the monthly chart drawn here. We look at the major supports on a Fibonacci scale from where NIFTY can bounce back. Major Fibonacci Supports from Current levels are: 18013, 17472, 17036 and finally 15976. Below...
3.14 Extension is a Parabolic move in Harmonic Patterns , and often unsustainable. We are approaching it. As usual, let the levels speak for themself. No macro-bullshit, the markets says it all.
CSCO daily indecision building wave 4 of wave 3 downtrend neat capitulation panic. Sell Stop 39.99 LMT 39.99 GTC Buy Limit 37.44 GTC Buy Stop 41.69 GTC
SPY daily indecision pressure building in wave 4 of wave 3 downtrend nearing panic capitulation. Sell Stop 360.23 LMT 360.23 GTC Buy Limit 342.72 GTC Buy Stop 371.52 GTC