ParimalDevnath

ParimalDevnath

It is a well-demarcated battle-zone between bulls and bears. Price in the consolidation mode. If bulls are able to lift above 100 DMA, they will face resistance at the upper band of consolidation at 10610.

ParimalDevnath

It was stated that the stock was forming Double Top Pattern. It means that this level will be decisive. It was also said that it is a high momentum stock. One must be very careful going short in such stocks. Today price has broken out of the Double top pattern. Price will head towards 960. It is buy on decline stock.

ParimalDevnath

It is noted through long observation that the 4th leg of a Shark Harmonic patter generally witnesses good momentum in price. Here is one more evidence.

ParimalDevnath

It was said in the last post that during the last leg of Bearish Shark price often gathers good momentum. We expect this to happen in this stock.

ParimalDevnath

Strong resistance at 330 and price is returning from this level for number of times. It is like a wall hit repeatedly. One day it is certainly going to be demolished and it will be a big breakout soaring the price to greater heights.

ParimalDevnath

As stated in the last post, 100 DMA is posing as a resistance above 200 DMA and today bulls tried a couple of times to lift the price above this MA and stay there. They just could not. Let us see if they can do this tomorrow.

ParimalDevnath

This call was given this morning. Trading in Futures it has made an amount of Rs.16000/-. In Options, it can be slightly less.

ParimalDevnath

Double Top Pattern, and the price of this good momentum stock is at an inflection point. Time to decide its further course of action.

ParimalDevnath

As stated in two earlier posts that price has received support at well-defined long-held support zone and accordingly price is showing signs of tepid bullishness. At present price is consolidating in a small range for last 4-5 days. Price may move drastically if price breakout above this small resistance level.

ParimalDevnath

As stated earlier, 200 DMA would play a crucial role. Now price is trying to go above this significant trend deciding MA.

ParimalDevnath

Last leg of Bearish Shark Pattern probable target of which is visible. Near perfect legs. If all goes well, it is a good investment to generate decent return with appropriate Stop Loss.

ParimalDevnath

Nifty is moving on expected lines. It got support from 200 DMA and therefore a-b-c correction seems to have been over. But now it has entered the consolidation zone and is probably to face resistance at 100 DMA which provided support for 19 sessions earlier (support-turned-resistance). Today's bullish overtone suggests that bulls are prepared to clear this...

ParimalDevnath

See how Harmonic Shark works, especially the last leg and momentum during this leg.

ParimalDevnath

Let us have a look into the internals of EWave on hourly chart. If the count is right, price might have started 3rd wave up. It is within the consolidation channel as mentioned earlier.

ParimalDevnath

Price given support at long-held level, there is a strong resistance waiting at 1160 where 100 and 200 DMAs are converging. Above this decisive level 1209 is possible. AP is a market leader.

ParimalDevnath

If the structure is identified correctly, then this will be a last leg of Bearish Shark. It is often noted that price gathers momentum during this last leg of this pattern. One must enter appropriate stop loss to save capital.

ParimalDevnath

In connection to the earlier chart, looking at this Bearish Shark Pattern being formed, we may work on possible target provided the low is held by the bulls. Always enter the Stop Loss to save capital from unforeseen circumstances.

ParimalDevnath

A Bullish Harmonic Shark pattern seems to have been started and the price is very close to long-held support level. Have a look at the second Harmonic chart being published after this.