As of now, seems nifty is running in a 5 wave structure.
As of today, it has completed 4 Waves (Pl refer Chart).
5th Wave is pending and might get completed near 12300 levels.
Also we need to be careful near 12100 levels, in case if 5th is a truncated wave.
As of now, we can go long with SL of 11780 , 1 Hour CLBS for the above said target.
Any close below 11750...
Federal bank seems a good buy above 85.30, with a SL of 82.10 and target around 92/95/99.
MACD is positive also its showing divergence.
RSI is just a tad above 50.
RR ration is around 1:2/1:3
So can buy with this small SL and small quantity.
This is for a short term buy.
It seems Cummins India is a short term buy above 564.80, with a SL of 544 and targets around 600/620.
The Risk Reward ratio is around 1:2 & 1:3.
MACD is showing divergence on daily chart and has given a buy signal.
RSI is nearby 50 and is in with sync with the up-moves as of now.
So with this small SL in mind, we can initiate longs.
As of now Nifty has a big hurdle at 11935 and the next hurdle placed at 11987 and above that 12075 as per FIBO.
And Support is around 11710.
MACD is hinting towards a imminent correction, so we can see a dip coming this week towards 11710.
If 11700 holds this week we can see 12100 /new highs in coming weeks.
As of now, we need to be cautious at the said level...
It seems Mindtree will go up in coming days.
We can buy it above 726.30, with a SL of 708 and targets of 760/780/800.
The RR ration is around 1:2.
MACD is showing divergence and turning positive for short term.
RSI is above 50.
We can take small chance to go long.
Vedanta looks like a complete sell for short term period.
Below 145 it can test recent lows of 125.
This view gets invalidated if we get a close above 152.50.
MACD has just started to give a sell signal.
RSI is tilting towards a sell sign.
Motherson Sumi has made a bullish candle, and seems poised for a short term rally.
The RSI is above 50.
MACD is very much positive.
We can buy it above 108.60 with SL of 103 and targets could be 118/125/135 and even go till 150.
The Chart is self explanatory.
The 5th Wave is the largest one, & as per the Elliott Waves theory, if the 5th Wave is the largest, it retraces up to 61.8% of the 5th wave.
The target at 61.8% comes to 8900.
As per me the Wave started from early 2012 and completed recently in 2019 July, so it took almost 7 &1/2 years for the completion of the big wave. So it...
Sail is looking good for a short term buy.
We can buy above 33.90, with SL of 31.90 and targets around 36.30/38/39.
There seems a positive divergence in MACD.
RSI also is in sync with the price movement.
It seems Nifty is trading in a channel.
Will buy at channel support and sell at channel resistance as of now.
Currently it is at the channel top, so high probability of a good sell.
If there is a gapup and price holds above the channel.....then its a breakout...till then its channel trading.