RahulNewar

RahulNewar Updated 

DRL has retraced to its 50% level. A massive correction and for weeks at a low price volatility and volume and break out. Upside could be of 5200 level to 6000 level from long term. The break out of 5000 level would be critical as stock would be volatile for upward move of 6000 level. Low price volatility would provide an easy exit before SL. Please do provide...

RahulNewar

Price volume volatility has squeeze. A break out either side would lead to a massive move. On the down side the Mother candle, "The Noisy candle of 6 February that led to the massive fall" still not taken out. Triangle pattern correction towards low side indicate that down trend may continue. A price volume squeeze indicate that that a big move is about to take...

RahulNewar Updated 

This is my take on Adani E. The script never got corrected since April 2020 and was always in uptrend. The fall in the month of January is the first correction of Wave 1 on weekly chart. The correction was sharp and fearful and upto 78.6% retracement. In case if the trend is to reverse and Wave 3 is to start it would be confirmed only on the closure on weekly...

RahulNewar Updated 

Another Adani pattern is on Mahindra and Mahindra. For M_M wave Elliot impulse Wave 3 ends and Correction of wave 3 (Wave 4 begins). Volume has decayed and new highs has been rejected. Lows could for 948 leve with an SL of 1380....This could be a good short opportunity.

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Bajaj finserve headed for 1100 zone. Should be a good over night trade. Expecting a massive gap down. Do suggest your views.

RahulNewar

BPCL showing a break out after major consolidation in weekly chart. The price action can be up to 410.

RahulNewar Updated 

Correction of Wave 3. Headed for 225. Going long before 225 would be a disaster. Yes if its 225, story over for Green. This also indicates, further bad news to arrive.

RahulNewar

Dow not to break 30,200 level... High possibility of pull back 33,572

RahulNewar

Buy ONGC. The frustrating sideways movement in ONGC , indicates the completion of corrective Wave 4. Its still traded at Weekly rising 20 EMA indicating uptrend to continue and more powerful moves ahead. Break out above 120 would confirm the completion of wave 4. The target would be around 140. The SL would be 116.

RahulNewar

On a daily chart TCS historically finding support at 50 EMA. Could be a good buy for the target of 3211.

RahulNewar

DJIA - Elliot Wave 5 loosing the strength. Pitch fork long term weekly charts shows that peek is achieved. Channel shows the price is trapped at the narrow zone and the story over.

RahulNewar

DJI seems to be consolidation at this zone. This is a corrective wave 2. Expecting a break out of the channel is going to be on the upside (around 30400 level) which would be a powerful wave 3 and the upside would be around 35000 Zone. For the confirmation enter the fresh long only on the channel break out.

RahulNewar

Bharti breaks out Ichimoku weekly lead spam B which act as a last support. Most likely it’s moving towards its weekly long term mean line and the level is around 360. The only line of hope is Gaan fan last support at 408 level. Still no signs of consolidation and looks like more pain ahead.

RahulNewar Updated 

Nifty is trying to take claim 11500 mark and once claimed ..it may look for claiming 11600.

RahulNewar Updated 

Dow about to break 28600 level. Expect a mad rally towards 29500 level (minimum level) and move may be beyond this level which may surprise up. Fundamental play looks to be deferred.

RahulNewar

Bharti Airtel shouldnt have broken 522 level. Bearing moving average cross overs. If breaks below 500 the levels are for 475 and I wont be surprise if 400 level is seen.

RahulNewar Updated 

TCS Seems to in the stage of completing Wave 2. The Wave 3 would be much stronger and may bounce towards upside extending up to 2550 level. In case if the break out happens towards the downside, the downside would very limited. Strong support at 2180-2200 level. So good to hold long. Strong upside post August expiry.

RahulNewar

ONGC on he completion of Wave 4. Good confluence of moving average (specially EMA 20 and EMA 50) around the current price. Expecting a major move of Wave 5 extending upto he high of Wave 3 .....around 93 zone which also happens to be 200 EMA which may act as resistance.