As per the current reading of Nifty, we are able to see divergence in MACD as well as in RSI. Its a Negative Divergence.
Yearly pivot comes to around 11680.
High possibility of 5 waves completion from the lows of 9004. So overall "B Wave" got completed. Now "C Wave" Should start.
It seems MothersonSumi is a good buy above 95.70, with a SL of 92.30 & a target of 106.
As of now MACD is well above zero line
RSI is above 50 & shows momentum is on upside.
The risk reward is around 1:3, so overall a definite worth of try to go longs above ths said price.
As per the chart, we can see the Wave structure clearly drawn.
1st Wave started form 9000 and ended around 10290 (1290 points) and from there it came down to 9845 (2nd wave ) approximately 38% of the fall.
3rd wave started from the lows of 9845 & broke into 5 wave structure, which got completed around 11300.
Now after the 3rd wave, we can expect the 4th...
In continuation to earlier analysis, Now the picture is getting clear.
Can see the 5 Wave structure as mentioned in the chart.
So currently, the last 5th wave is going on & the most it can go is upto 650/680 points for simple reason, the 3rd wave will not be the smallest of the 3 waves.
So we can assumes from the lows of 10300 approx we can have a maximum top...
The chart is self-explanatory. We can see the Wave A Completed near about 8060 , B Probably completed near 10540 or can go up till 10750 max which is incidently near about 61.8% of the total fall.
From there we can expect another fall to near abouts of 8000 or proabably 7500 and then we can have a glorious rally back to 12500++ in coming couple of...
As per my counts, we have completed A Wave & recently in B Wave we completed the inner "a" wave & "b" Wave & now we are in "c" wave. For this please go through the previous post by me.
So Now the inner c wave is panning out imo & here we might be having a 5 wave structure.
This count starts from the highs of 9450 - formed on 13th may & completed around 8850 on...
Waves are Tricky to understand, but B Waves are the most tricky of the lot.
It gives a false hope to the investors & they get trapped .
Current Situation in Nifty - After the current rapid fall in nifty from the recent highs of 12152, it seems Wave A is completed around 8055/8360. (7520 - an emotional down wave). From these levels we have started a slow rise,...
The Chart that i have posted seems self explanatory. The fall from 12152 to recent lows of 7530 - seems it is the 1st wave or Wave A & the current ongoing upmove is merely either of the 2 (Wave B or Wave 2 ) which will get terminated around 9900-10150., & after that we will get the 3rd wave / Wave C which is pending. (I shudder to think if its Wave 3 -...
As per my view, Nifty is in a channel as of now...so lets trade accordingly. But its turning out to be a flag Pattern, which is a very bearish signal for coming days.
The Pole length of the Flag pattern is turning out be around 4200 points & the Channel high could be around 9600.
So if the recent lows are broken we could have a dip uptill 5200 in nifty in...
After the current rout in all the stocks, people are flocking to buy the HDFC twins, but believe me we are not out of the woods.
As per the charts, there is a strong support around 1350/1400, so firstly we wait for these levels to come & then wait some more so that it consolidates at these levels & after that take a decision whether to buy it or wait again.
YES Bank - People flocking around this stock as if their life depends on it, has been a big pain in the neck for many.
Lets us see how it might pan out in coming days/Week/Month - technical view.
The MACD indicator (Monthly Time Frame) is well below the Zero line, which tells a story that...its still not out of the woods, any upside can be used as an opportunity...
Am posting a long term chart with Elliott Waves.
We start from april 2003 with low of 920 & to the highs to 6260 in January 2008.
From there we had a glorious rally for almost 12 years, from the lows of 2555 & now as per me it just concluded in Feb 2020.
IMO - Now hereon we will have a long slow Flat Correction/Triangle Correction for coming 2 years.
As we can see the chart is self explanatory. As per the waves we have completed 3 Waves for Sure & the 4th Wave is running & seems it is yet to complete. It might complete around Month end, anything in between 8500+ - 9300.
There is still One more Wave pending, the 5th Wave, which might be either equivalent to 1st wave (1050 Points) or 61.8% of the entire...
Have charted the course of Nifty for coming few days in Wave Structures as per my understanding.
It Seems we have completed the 3rd Wave on 20 March 2020 & now 4th Wave is going on, which might go up to 9200 Approx. From there we might have another opportunity to Short for a target of 7500 approx.
IMO, this bottom near 7500 would be a completion of Either...
The chart is self-explanatory. We are still in 3rd wave & will have a 4th wave...which might not go above 10500.
So we might get a chance to short around these levels for a target of 9100-9400 approx.
After this fall is completed, its just a completion of either Wave 1 or Wave A .
IMO, Here on We can trade for small upsides but ABSOLUTE NO BUY for a...
This Chart is self-explanatory, IMO, we have completed 4 waves.
5th Wave is going on, but SL is 12150 spot (CLBS - 1 HR).
This 5th Wave may complete around 12520, wherein a bigger correction will set in.
IMO, The Budget will not be a good one in lieu to economy, hence the correction.
As of now, we can go long with SL of 12150 & exit all around...
Seeing the movement of Nifty after 8th January, it seems nifty will make new highs in coming days...
Next resistances placed around 12360 - 12430-12500.
I still believe, Market may not fall before 12500 or thereabouts is done.
Supports are well placed around 12230/12175/12130/12090 as per FIBO
& as per Pivot monthly its around 12100.
So 12100 seems a decent...
Bajaj Finance seems a good buy above 4145.50,with SL 4080.50, & Targets of 4250/4350/4450.
MACD is turning positive, so the price has room to go up.
RSI is above 50, & is good to go upto 70.
RR is also reasonable around 1:1.5/1:2.
So overall is a good buy.