ONGC looks like its ready for its next move down, however, a correction on the 240 needs to happen that could confirm the same. This looks like its part of a bigger B wave, effectively making this one of the pieces to finish for the B wave completion. There could be a move down to retest the recent lows and then we might see one major up move.
Welspun is in a long drawn Corrective structure. There is one wave to the upside which completes the correction. At the moment its in a flag formation. A sustained breakout from the current 240 min flag should take the stock higher towards the 90 zone.
It seems like NSE:IOC has completed an expanding Flat on the 240 as a part of the bigger corrective structure. There is probably one major move to the downside before an upmove. The Downmove in question has just finished a running flat and is likely continuing the move down to retest the recent lows of the structure.
GBPINR is in a complex corrective structure. The sub waves have been color coded for ease of spotting them. The next move could be a down move to finish the C wave of the current structure in making. On the 1 hour time frame, I guess there's one move down. AS the structure develops, we get a clearer picture.
This is a classic Flat pattern NSE:NIFTY is in the making. The initial 2 legs A, B are done and Nifty is now in the C leg. Now that there has been an initial move indicating the start of the C wave, there is a good chance that Nifty will retrace. Once the pullback/ retracement is done, it could then continue go down in the direction of C to retest the lows that...
This is a classic Flat patternNSE:NIFTY is in the making. I used the Futures chart for continuity/ least gaps. The initial 2 legs A, B are done and Nifty is now in the C leg. Now that there has been a big move, there is a good chance that Nifty will retrace. Once the pullback/ retracement is done, it could go down to finish the C wave, at levels close to A.