Sakthi1977

Sakthi1977

Similar to nifty, we are seeing correcting bounce and can go upto 34100/34300. Let's how this plays out

Sakthi1977

We are seeing correcting bounce in nifty and go upto below levels 16330/16511/16630. Expecting minimum of 50% retracement of wave (A) which is 16248. Might get rejected in any of these supply zones and will continue the downtrend.

Sakthi1977

Primary trend is still down, we might see dead cat bounce up to 16220 levels, there lot of supply zones above this.

Sakthi1977

Nifty upside potential target 17120 (might go up to 17300 if strength continues), first target 16770 then it might pullback to 16500 before going to 17120.

Sakthi1977

Nifty possible bounce up to 17050-17150 levels before heading lower to take out 16812.

Sakthi1977

ICICI Bank current in C and heading towards 650 area. if this projection plays out it will be volatile between 710-770 area before the final drop to 650 area.

Sakthi1977 Updated 

Most likely it's going to choppy session, might start red and can bounce to 17k levels and pullback to 16500 level to complete the ABC pattern of the current leg down. Let's see how this play outs

Sakthi1977

Heading to 2425-2445 supply zone. Watch out for reversal in this area, once reversed most likely price will come back below 2300.

Sakthi1977 Updated 

SBI came up with very good numbers over the weekend. if the stock gaps down and bounces from 500-510 level this proposal is a high probability and can go up to 570-580 before reversing for the C wave correction. if this plays out then it will be bear trap followed by bull trap. This chart is for educational purpose and not a trading idea.

Sakthi1977 Updated 

Update to the previous post - Aligned the wave labels correctly since we have the structure in lower timeframes (15m/5m). I still believe primary trend is down and what we are seeing now is a bear market rally, NIFTY bounces level for this rally will be around 17600 and 17750. Only slight change in targets from the previous post. Can long until these targets ,...

Sakthi1977 Updated 

I still think this is bear market rally, looks like there is strength to test 40k again considering global markets are positive for the last two days. if there are some good news for banks in the budget then 3rd target is possible as projected.

Sakthi1977

Looks like heading to 880 level before bouncing to 950 - 970 level ( supply zone). Next leg down start after this bounce imo. Let's see how this plays out

Sakthi1977

It looks to me a diamond top. Also looks like H & S pattern in progress, wave count also matches. Let's see whether this will play out.

Sakthi1977 Updated 

RIL is going to test supply zone , watch out for reversal around 2405-2415 levels. On reversal, most like going to fill the gap below.

Sakthi1977 Updated 

This projection is high probability in case of any bad new in the upcoming Q3 results next week . As usual, this is not a trade advice and the chart posted is for educational purpose.

Sakthi1977

I still believe primary trend is down and what we are seeing now is a bear market rally, NIFTY bounces level for this rally will be around 17600 and 17750. Only slight change rin targets from the previous post.

Sakthi1977 Updated 

Nifty 50 looks like completed first leg wave a of the zigzag and currently b wave in progress, we will know in the coming weeks how much higher it can go before the wave c down to complete the zigzag. Please note this projection is for educational purpose and not a trading advice.

Sakthi1977

Currently we are in bear market bounce and can go up to 40600. For this count to play out, first need to drop to 36000 level and bounce from there. if we drop below 34233 - 34047 level from here then we have a top 38851.43 ( B wave - corrective bounce ) and heading towards next leg down. Monday shall gives us some direction, will post updated count after...