Somanathrout

Somanathrout

hey guys, wish you a happy weekend. so far the covid 19 crash low point has a trend angle {which is blue color line of the pitchfork } and it has an unbelievable potential to rise the price...I must be kidding , it is the massive 3685 points!!! And after achieving 3685 points it is melting slowly around 800-1000 points. Now this will be interesting to see...

Somanathrout

nifty has created a 5-0 pattern in price action, 17530 becoming a buying zone with stoploss 17480for chart mentioned resistance targets, below 17500 a bearish view might come where 17350 will be a major support. 17890 becoming the median line of 2008 market top exactly from there market has plunged, quite possible a more downtrend we can see if 17500 breaks, but...

Somanathrout

as atr is 160 nifty to touch 17780-17790, but stay alert at the yellow line which is lying around 17840-17850 zone

Somanathrout

usoilis facing resistance at 1/4 gann line, setting a stoploss above it some pips , to close above in 4 hour chart a short can be initiated or wait for a close above it to fresh buying.

Somanathrout

well , so now we have entered the trendline that was once used as the lower trendline where buying call would have been indicated, literally it means that if there was no covid19 crash and we were to trade, we would have certainly look for a long trade here. Now the question is whether this trendline will act as a resistance or support. To answer this question I...

Somanathrout Updated 

it has made a bearish harmonic patern, setting a stoploss at 17520 a short can be initiated.

Somanathrout Updated 

as we can see all the fibo levels are reacting to the price action and nifty have given a weekly close above 1.414 retracement, possibly it will touch 17503 at 2.618 level, and the resistance will be around target 1 17380-17390 in upside movement which looks normal.

Somanathrout

71.11 is a hurdle for usoil, setting a stoploss above it on daily close usoil ccan be short to gain some pips.

Somanathrout

A clear divergance is seen in rsi and the price is at resistance trendline, so it seems stock has topped and a short trade can be initiated at low risk. weekly atr is 402, so ideal stoploss should be 7084 in weekly close and target should be same 6284.

Somanathrout

when all the indicators and calculations became a knotty equation for me , only a single moving average in weekly time frame stole the charm with its magic dynamic support.

Somanathrout

we can see stock is taking dynamic support at 72 ema and price now available right here. here stoploss would be lesser and profit target could be better. stoploss 299 on daily close basis. positional buy can be hold as long as 72 ema not broken on daily basis and for short term trading target 1 will be 314 and target 2 will be 321. call negates if opening on...

Somanathrout

bajaj auto is trading around 50 week ema which is supposed to be a good buy, it will show a strong support at 3591 which is 3 percent below and thus stoploss becoming 3575 , quite possible if market consolidates this week , price of this stock might available at that area for a small period of time but currently bajaj auto have immediate support at 3676-3680. as...

Somanathrout

It can be seen that a harmonic 5-0 made in 30 min time frame which was a bullish 5-0 pattern, failing to sustain at the support .50 retracement a plunge in price action seen which was too fast like the previous example where it becomes extremely difficult to react so fast to decide except to book a loss as fast as possible. it is requested to you all who are...

Somanathrout

What is the 5-0 harmonic pattern? Just as it is with the shark pattern, the 5-0 harmonic pattern is a relatively new pattern. Carney discovered it and wrote about this pattern in the second book in his harmonic series, ‘Harmonic Trading: Volume Two’. The 5-0 pattern is easily one of the wonkiest looking patterns. Depending on the amount of knowledge you have...

Somanathrout

indigo has given close showing the sign of a break out in cup and handle pattern breakout and retest of trendline. But on the other hand it has faced resistance at the harmonic levels drawn in the chart AB=CD , handle depth 14% and pullback 13.8%and the history of the trendline is not trustworthy as couple of times it has rashed after a confirmed breakout in...

Somanathrout

possible trend reversal is noticed in the stock, overbought rsi in weekly chart onfirming a bearish candle in weekly chart followed by a short doji with long upside wick indicating a price decline can happen , setting a stoploss at 1400 on daily close it can be short for target 1315, last intrady low, breaking it it can go further low else a double bottom can be...

Somanathrout

a rsi divergance seen in 4 hour chart, stock has made a cypher shark pattern in daily and weekly time frame, setting a stoploss of 755 daily close concor is a sell on rise candidate for target 717.

Somanathrout

setting a stop at 1720 lt can be short for 1620. stok has reached its major resistance zone. weekly close above 1720 might indicate new target for 1800.