Nifty after a false breakout from 11100 is now trading at 10600 levels !!
Nifty EW Count :
Most likely wave 1-2 with wave 2 in play on upside -- Look for shorting at higher levels of around 10790 first fib lvl !!
Nifty level : Short around 10790 - 10850 : Target - 9400-9000 : SL - 10900
Long above 11015 only !!
Keep in mind if Nifty EW count...
Fed Put :
Fed has just dragged it's feet on Rate Hikes and on Balance sheet reduction program. So FED has now placed a fed put which is bullish for stock markets across the world.
EW Count :
Either Nifty is in wave 5 or in wave B.
Nifty lvl :
Long above 11000 on Weekly
Short below 10700 on Weekly
For the time being be Neutral to Bullish on Nifty & Bank Nifty...
Nifty is looking weak as its Bluechips HDFC & HDFC Bank both have broken imp levels on downside.
Trendline support for MACD is broken and if Nifty starts to trade below 10790 it would open lower targets of 10740 !!
Most Probably Nifty is now in Wave 3 on downside !!
Short Nifty @ CMP ( 10840 )
Target : 10743 & 10631
Sl : 10860
EW Analysis :
SPX500 is in pullback mode from lows of 2340 and is showing a clear abc pattern on upside.
EMA 50 :
SPX500 is now closer to 50 EMA level of 2685 which is also 50 % fib level from recent lows.
Long above 2820 on Daily close !
Short below 2630 on Daily close !
Keep in mind that the uptrend was broken and bulls are still not in mood to give up and...
EW Analysis :
BN is in pullback mode from lows of 24400 and is showing a clear abc pattern on upside.
Trend Breakdown :
BN breached the up-trend in Sept 2018 which started from Mar 2016 and is now retesting the up-trend support which now becomes resistance for BN.
Supertrend Resistance :
Any weekly close above 27800 on BN would change the bearish signs to an...
Nifty broke the support trendline yesterday but instead of continuing to go down it changed its trend and now has broken its upper resistance trendline !!
Long Nifty @ 10820 on Hourly : Target @ 11200
Stop Loss @ 10780
Also ABCDE pattern which is now clear going to push above the resistance and move towards 11200 !!
Nifty is struck in a range and the range is getting smaller & smaller !! It's only a matter of time that Nifty breaks this range and sets the trend.
On Hourly Charts :-
Break Above 10900 : Long Nifty for Target 11200
Break Below 10730 : Short Nifty for Target 10000
Till then wait & watch !!
Short SPX500 below 2450 on Hourly Chart !
Or Long Above 2520 on Hourly Chart !
On wave count front this could be wave 5 on downside of wave C correction !
Keep an eye on VIX above 25 could mean much more volatility coming and that to on downside.
MACD is moving in a tight range, once it starts to expand on any side that would be our trend !!
Short SPX500 : Close...
Nifty50, SPX500 and GER30 all were in sync till May 2018 after which Ger30 ( DAX ) showed divergence and started to fall !! The next in line to fall is SPX500 and is about to sync with GER30 on downside but the Nifty50 is now showing divergence against both these and is resisting the fall. Now if global markets fall the EM will also toe its line, so with December...
SPX 500 is sell from 2818 but after breach of 2630 lvl on monthly the market is under bears grip and is sell on bounce !!
SPX 500 is very close to trend line support of 2320 but the VIX @ 35 would mean that this lvl would be breached soon for next fib lvl of 2078 in coming next week !!
RSI is close to 30 lvl so a bounce back possible in mid Jan 19 but on...
NATGAS is now probably at levels where it is just short of breaking the above resistance trendline !!
#NATGAS Buy above @ 4.540 on Hourly chart with sl @ hourly low of last candle or at 4.450 !
Add more longs above 4.670 on hourly for targets of 4.9 !!
Nifty is clearly showing 5 wave on downside !! And this looks like a point of reversal to 10700 and then start of wave 3 on downside !!
Nifty remains short on daily chart !!
This view remains only till state election result which will be declared on tuesday.
Markets are showing reactions to Exit Poll which are not in favour of current ruling government but our...