Hello Traders, NIFTY50 took 16261 off the board; just with a „simple“ gap-up! It opens Friday's session at 16300, shows a short-term correction and run to 16352 on a closing basis (intraday high @ 16370). So, N50 has the potential to advance to 16414 and set new high's in consequence. Note, that there is one more open gap from 16661.95 to 16387.25, left by trading...
Hello Traders, NIFTY50 declined to, 15903 this morning, but left the gap open, create by trading on May 19-20! After achieving this area, it reversed to the upside, but it needs to take the level of 16261 off the board, to become more bullish potential! A break of this level opens the door to 16414 range, with more bullish chances with a daily close at or above...
Hello Traders, NIFTY50 finished another waves 1 and 2 @ 16414.70 and shows a corrective move since, which is not done. N50 is working on a kind of a „flat“ or a variation thereof. At 16019 the 0.618 Fibo is placed, while @ 15966 waves c = a! More corrective (bearish) potential exist, and from 15912-15855 there is another target area. At 15966 the open gap left by...
Hello Traders, NIFTY50 has reversed strong and sharply on May 16. It achieved the level of 16160 and shows „more bullish potential“, as I wrote at my latter analysis! It runs to 16399.80 before this wave ended! Both pullbacks, seen at this advance, have been „strong and sharply“! This kind of behavior shows the „fight“ between Traders, so called „bulls and...
Hello Traders, NIFTY50 has tumbled ~200 points below my cited target range. It fell to 15782 and possibly ended a wave z of iv, or it ended a wave 2 of Minor degree. In both cases, trend will change immediately and strong to the upside! The future has given an idea for Monday; it reversed to the upside. So, a strong opening on Monday (gap-up) can push N50 quickly...
Hello Traders, the „bearish engulfing“ wasn't complete, and so it followed another day of weakness for NIFTY50! It declined to 16340 and closed the day @ 16411. It fell below my cited range, and it could be, that 1-3 days of recovering price will follow in the coming week. From a candlestick perspective, it creates a „doji“, a pattern of uncertainty. A perfect...
Hello Traders, NIFTY50 has tumbled into my cited target area from 16848-16563. The „bearish Engulfing“ plays out; it can be complete (price and time targets), but to me doesn't seam to be complete to the downside. So more selling-pressure is possible! As before. A decline below 16563 on a daily close opens the door to 16165. More bearish potential exist! On the...
Hello Traders, at the latter week, NIFTY50 has change just ~70 points down, week to week. It failed to break above the 17392 range and set a „bearish engulfing“ at Friday's session. This is a bearish pattern, and it often announces 2-3 days of falling prices. The pattern is invalid, if price close above 17392! If the idea of the w-x-y-x-z-pattern plays out, the...
Hello Traders, NIFTY50 has declined, as cited in my latter analysis. It touches the 17171.95 level. This decline was just a part of the coming storm. If N50 is tumbling below the 16955 area, the doors are open to 16631 and 16528-1616345 levels. More bearish potential exists. From an Elliott wave perspective it could be, that the decline is part of an w-x-y-x-z...
Hello Traders, today, I'd like to show you the weekly timeframe. Here, a reversal pattern has formed; an „Evening-Star“! This occurs at a top and is build of three candles. The middle candle is separated by two gaps from the other candles. If this pattern play out, the trend will change to the downside and a correction is next. A minimum target is around the...
Hello Traders, NIFTY50 hit perfectly my cited target level @ 17442. What a joy :-)! After touching that level, N50 bounced to the upside and joins a nearly 150 points intraday rally. A huge chance for option traders, but risky! So, what's next for N50? I had to scroll down into the 1-minute chart level, but the advance off the lows is not clear an impulse, The...
Hello Traders, NIFTY50 failed to set new high's this week. Instead, it set a „pause“ in the uptrend, correcting back to the breakout-level @ 17442 area. This target remains open so far. Note the open gap, shy below the purple trend line. It can be closed by the next trading sessions. A successful test of this area @ 17442 should probably open the door for a...
Hello Traders, NIFTY50 has overrun my targets for the week! It pushes to 18114, what was close to the 1.382 Extension of the advance from15671-17442. So following the chart technique the trend is up, and as long N50 is pricing above today's candle low @17809-17791, my next target is at or around the 18350-185xx levels. Keep in mind the open gaps since the 15671...
Hello Traders, NIFTY50 has achieved into my target-range of 17520-178xx! Today's daily candle was a strong „bull-candle“, pushing price higher. My next target is at or around the 17882 area. While I am using RSI-indicator for my trading, think we have this room to go, because the level of it is at 74 (closing) and it has left room to advance. If price will move in...
Hello Traders, during yesterday's session, PayPal has confirmed the buy-signal, latter week ago. It runs above the 120.- resistance and close at 121.18 (@Tradingview)! From trader's view, we face following opportunities. The high was a wave 1 of a new impulse or it. In this case, a corrective setback is in the cards for the next days, or it will run through new...
Hello Traders, NIFTY50 was moving in "sideways-range" the latter week. The prevailing volume was from 17329 to 17117, spikes remain unnoticed. Sideways moves are often resolved to the trend dominant side, so this in our view to the upside. A break of the 17340 range on a daily close basis opens the door to 17400 and above to 17520 range. A target "at the...
Hello Traders, today, I`d like to show you, an opportunity to trade a stock just with the tools of classical chart analysis. No Elliott waves, no Ichimokou, no nothing. Who didn't know PayPal, the company which processes payments via the Internet; founded by Elon Musk, among others!? The stock has fallen down to $92.25 within a „peak“, but closed above the...
Hello Traders, NIO, the Chinese E-car maker, has understood! The stock changed the route with a remarkable candle-stick pattern. At the 2-days chart, you will notice the „Island-reversal-pattern“; price have break to the downside with the „gap-down“ and reversed! This time to the upside. In sum, this pattern marks a „morning-star“! This new low wasn't sold again,...